Ireland GDP Growth Rate 2000-2014 | Data | Chart | Calendar | Forecast

The Gross Domestic Product (GDP) in Ireland expanded 1.50 percent in the second quarter of 2014 over the previous quarter. GDP Growth Rate in Ireland averaged 0.65 Percent from 2000 until 2014, reaching an all time high of 5.50 Percent in the first quarter of 2007 and a record low of -4.30 Percent in the fourth quarter of 2008. GDP Growth Rate in Ireland is reported by the Central Statistics Office Ireland.


Ireland GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.50 2.80 5.50 -4.30 2000 - 2014 percent Quarterly
Ireland has a modern, business-friendly economy. The country is dependent on foreign direct investment from major high-tech manufacturers such as Intel, Google and Pfizer. As a result, Ireland is one of the world’s biggest exporters of pharmaceuticals and software. From 1995 to 2007, GDP growth averaged 6 percent, which earned the country the nickname of Celtic Tiger. However, as a result of a crash in real estate market, economic activity dropped sharply in 2008 and the country entered into a recession for the first time in more than a decade and it’s struggling to recover since. This page provides - Ireland GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Ireland GDP Growth Rate - was last refreshed on Sunday, November 23, 2014.

Irish GDP Advances 1.5% in Q2

The Irish economy expanded 1.5 percent on a quarter-on-quarter seasonally adjusted basis in the three months to June of 2014, slowing from a revised 2.8 percent expansion in the first quarter. Capital investment and exports were the main drivers of growth.

On the output side of the accounts, industry (including building and construction) increased by 4.7 percent in volume terms between Q1 2014 and Q2 2014. Distribution, transport, software and communication increased by 2.9 percent in volume terms on a seasonally adjusted basis over the same period while other services declined by 0.8 percent and public administration and defence decreased by 0.5 percent.

On the expenditure side, capital investment increased by 9.1 percent while net exports made a positive contribution of €723m (a 7.2% percent increase) in volume terms on a seasonally adjusted basis between Q1 2014 and Q2 2014. Government expenditure increased by 3.8 percent quarter on quarter while personal expenditure increased by 0.3 percent.

Year-on-year, the economy advanced 7.7 percent in the second quarter of 2014, driven by an 18.5 percent increase in capital investment. 

CSO | Joana Taborda |
9/18/2014 11:27:15 AM

Recent Releases

Irish GDP Growth Beats Expectations
The Irish economy expanded 2.7 percent quarter-on-quarter in the first three months of 2014, up from a revised 0.1 percent contraction in the previous period. It is the highest growth rate in five quarters, driven by exports. Published on 2014-07-03

Irish Economic Growth Disappoints in Q4
Irish GDP contracted by a shocking 2.3 percent in the last quarter of 2013 from the previous three months, hurt by a surge in imports and a fall in consumer spending. Initial estimates showed the economy shrank by 0.3 percent in 2013. Published on 2014-03-13

Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-03-13 11:00 AM
GDP Growth Rate QoQ  Q4 2013
-2.3% 2.1% (R) 1%
2014-07-03 11:00 AM
GDP Growth Rate QoQ  Q1 2014
2.7% -0.1% (R) 0.8% 0.69%
2014-09-18 11:00 AM
GDP Growth Rate QoQ  Q2 2014
1.5% 2.8% (R) 0.59%

Ireland GDP Last Previous Highest Lowest Unit
GDP 217.82 210.00 262.00 1.90 USD Billion [+]
GDP Growth Rate 1.50 2.80 5.50 -4.30 percent [+]
GDP Annual Growth Rate 7.70 4.10 14.60 -10.00 percent [+]
GDP Constant Prices 45611.00 44920.00 45611.00 22482.00 EUR Million [+]
Gross National Product 37983.00 37752.00 40136.00 21492.00 EUR Million [+]
GDP per capita 45119.27 45355.77 51001.54 11629.11 USD [+]
Gross Fixed Capital Formation 7283.00 6675.00 10055.00 3758.00 EUR Million [+]
GDP per capita PPP 42694.81 42918.61 48261.00 20993.35 USD [+]