Ireland GDP Growth Rate  1997-2017 | Data | Chart | Calendar | Forecast

Ireland's gross domestic product advanced 2.5 percent on quarter in the three months to December 2016, easing from a 4 percent expansion in the previous period. Fixed investment and household consumption were the main drivers of growth while net exports contributed negatively, largely due to a jump in imports. Year-on-year, the economy grew 7.2 percent after expanding by 6.2 percent in the third quarter. In 2016 as a whole, the GDP advanced 5.2 percent, slowing from a 26.3 percent growth in 2015. GDP Growth Rate in Ireland averaged 1.33 percent from 1997 until 2016, reaching an all time high of 21.50 percent in the first quarter of 2015 and a record low of -4.10 percent in the fourth quarter of 2008.

Ireland GDP Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-09-14 10:00 AM Q2 0.6% -2.1% 1.4%
2016-12-09 11:00 AM Q3 4.0% 0.7% 1.8%
2017-03-09 11:00 AM Q4 2.5% 4.0% 1.2%
2017-07-12 10:00 AM Q1 2.5% 1.5%
2017-09-14 10:00 AM Q2 1.7%
2017-12-08 11:00 AM Q3 1.4%




Irish Economy Grows 2.5% In Q4


Ireland's gross domestic product advanced 2.5 percent on quarter in the three months to December 2016, easing from a 4 percent expansion in the previous period. Fixed investment and household consumption were the main drivers of growth while net exports contributed negatively, largely due to a jump in imports.

On the expenditure side, capital investment, which accounts for approximately 35 percent of domestic demand, jumped 85.7 percent (-1.5 percent in Q3); household consumption, which accounts for almost half of domestic demand, advanced 0.7 percent (the same as in Q3); and government expenditure increased 1.4 percent (0.9 percent in Q3). By contrast, net exports declined by 93.7 percent with the import increase (37.2 percent from -5.7 percent in Q3) outpacing the change in exports (4.9 from 2.4 percent in Q3). 

On the output side of the accounts, industry made the most positive contribution to growth, rising by 4.9 percent (3.5 percent in Q3), within which manufacturing recorded a 3 percent increase with building and construction recording a slight decline of 0.3 percent. Increases were also recorded in agriculture (2.3 percent from 2.4 percent in Q3) and public administration and defence (1.6 percent from -1.9 percent in Q3). Distribution, transport, software and communication declined by 1.1 percent (from 5 percent in Q3), while other services decreased by 0.8 percent (from 1.2 percent in Q3).

Compared to the same quarter of the previous year, the economy expanded 7.2 percent after growing by 6.2 percent in the previous period.

In 2016 as a whole, the GDP advanced 5.2 percent, slowing from a 26.3 percent growth in 2015. Capital formation rose strongly by 45.5 percent over the previous year; personal consumption rose by 3 percent; and government expenditure exhibited an increase of 5.3 percent. Meanwhile, net exports fell, as import growth of 10.3 percent outpaced that of exports at 2.4 percent. On the production side, building and construction recorded an 11.4 percent increase and manufacturing recorded a 1.8 percent increase. The distribution, transport, software and communications sector increased by 7.8 percent while the agriculture sector increased by 6.2 percent, and other services by 6.0 percent. Public administration and defence recorded an annual increase of 4.4 percent.

CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
3/9/2017 11:26:20 AM



Ireland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.50 4.00 21.50 -4.10 percent [+]
GDP Annual Growth Rate 7.20 6.20 28.40 -10.10 percent [+]
GDP 283.70 256.27 283.70 1.94 USD Billion [+]
GDP Constant Prices 66639.00 64849.00 66639.00 24270.00 EUR Million [+]
Gross National Product 55027.00 53508.00 55027.00 21991.00 EUR Million [+]
Gross Fixed Capital Formation 29005.00 13052.00 29005.00 5067.00 EUR Million [+]
GDP per capita 65292.38 51968.99 65292.38 12324.42 USD [+]
GDP per capita PPP 61375.50 48851.37 61375.50 22101.48 USD [+]
GDP From Agriculture 1263.00 1243.00 1263.00 790.00 EUR Million [+]
GDP From Construction 1653.00 1679.00 2766.00 1103.00 EUR Million [+]
GDP From Manufacturing 23496.00 22221.00 23496.00 6751.00 EUR Million [+]
GDP From Public Administration 1987.00 1947.00 1999.00 1306.00 EUR Million [+]
Gdp From Services 20231.00 20424.00 20424.00 8392.00 EUR Million [+]
GDP From Transport 13966.00 14296.00 14296.00 5521.00 EUR Million [+]



Ireland GDP Growth Rate Notes

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 March of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
2.50 4.00 21.50 -4.10 1997 - 2016 percent Quarterly
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