Ireland GDP Growth Rate  1997-2016 | Data | Chart | Calendar | Forecast

The Irish economy expanded 0.6 percent in the quarter in the three months to June 2016, recovering from a 2.1 percent contraction in the previous period, as capital formation rebounded sharply. Meanwhile, government expenditure advanced at a slower pace, household spending fell slightly and net external demand contributed negatively. Compared to the same quarter of the previous year, the economy expanded 4.1 percent after growing by an upwardly revised 3.9 percent in the previous period. GDP Growth Rate in Ireland averaged 1.28 percent from 1997 until 2016, reaching an all time high of 20.30 percent in the first quarter of 2015 and a record low of -4.10 percent in the fourth quarter of 2008. GDP Growth Rate in Ireland is reported by the Central Statistics Office Ireland.

Ireland GDP Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
0.60 -2.10 20.30 -4.10 1997 - 2016 percent Quarterly
SA
Irish economy is based on foreign trade, industry and investment. The country is major high-tech manufacturer and is one of the world’s biggest exporters of pharmaceuticals and software. On the expenditure side, household consumption is the main component of GDP and accounts for 44 percent, followed by gross fixed capital formation (19 percent) and government expenditure (17 percent). Net exports adds 19 percent to total GDP as exports account for 114 percent while imports for 95 percent. This page provides - Ireland GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Ireland GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on September of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-03-10 11:00 AM Q4 2.7% 1.5% 0.85% 1.2%
2016-07-12 10:00 AM Q1 -2.1% 2.3% 0.7% 1.6%
2016-09-14 10:00 AM Q2 0.6% -2.1% 1.4%
2016-12-09 11:00 AM Q3 0.6% 1.8%

Irish Economy Grows 0.6% in Q2


The Irish economy expanded 0.6 percent in the quarter in the three months to June 2016, recovering from a 2.1 percent contraction in the previous period, as capital formation rebounded sharply. Meanwhile, government expenditure advanced at a slower pace, household spending fell slightly and net external demand contributed negatively.

On the expenditure side, capital formation, which accounts for approximately 35 percent of domestic demand, rose by 38.9 percent (-14.4 percent in Q1) and government expenditure increased 0.6 percent (+2.6 percent in Q1). By contrast, personal consumption declined by 0.5 percent (+0.7 percent in Q1). Net Exports declined by 31.4 percent with the import increase of 11.8 percent (-10 percent in Q1) outpacing the change in exports which were broadly unchanged at -0.1 percent (-3.6 percent in Q1). 

On the output side of the accounts, value added for all sectors increased in the quarter with the exception of manufacturing which was broadly unchanged (-8.7 percent in Q1). There was an increase of 5.2 percent in the building and construction sector (+2 percent in Q1).  The distribution, transport, software and communications sector increased by 1.7 percent (+6.6 percent in Q1) with the other services sector increasing by 1.6 percent (+1.6 percent in Q1). Agriculture rose by 1.5 percent (-2.5 percent in Q1) while public administration and defence recorded an increase of 1.3 percent (+2.2 percent in Q1).

Compared to the same quarter of the previous year, the economy expanded 4.1 percent after growing by an upwardly revised 3.9 percent in the previous period.

CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/14/2016 10:20:38 AM

Ireland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 -2.10 20.30 -4.10 percent [+]
GDP Annual Growth Rate 4.10 3.90 28.40 -10.10 percent [+]
GDP 238.02 250.81 274.71 1.94 USD Billion [+]
GDP Constant Prices 62304.00 61904.00 63262.00 24270.00 EUR Million [+]
Gross National Product 51587.00 51278.00 51587.00 21991.00 EUR Million [+]
Gross Fixed Capital Formation 15983.00 11508.00 15983.00 5067.00 EUR Million [+]
GDP per capita 56053.73 52256.77 56053.73 12053.93 USD [+]
GDP per capita PPP 51899.20 48383.66 51899.20 21291.54 USD [+]
GDP From Agriculture 1197.00 1179.00 1225.00 793.00 EUR Million [+]
GDP From Construction 1583.00 1504.00 2766.00 1103.00 EUR Million [+]
GDP From Manufacturing 21111.00 21106.00 23120.00 6751.00 EUR Million [+]
GDP From Public Administration 2002.00 1976.00 2002.00 1306.00 EUR Million [+]
Gdp From Services 20133.00 19824.00 20133.00 8392.00 EUR Million [+]
GDP From Transport 13360.00 13140.00 13360.00 5526.00 EUR Million [+]




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