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

The Irish economy expanded 4 percent on the quarter in the third quarter of 2016, following an upwardly revised 0.7 percent growth in the previous period and well above market expectations of 1.2 percent. The growth was mainly driven by foreign demand, as exports increased 1.7 percent (-0.9 percent in Q2) while imports shrank 8.6 percent (+10.6 percent). Also, the government spending increased 0.8 percent (+0.7 percent in Q2). Meanwhile, personal consumption rose at a slower 0.7 percent (+1.9 percent in Q2) and investments contracted 17.8 percent (+36.9 percent in Q2). Compared to the same quarter of the previous year, the economy expanded 6.9 percent after growing by a downwardly revised 3.1 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.

Ireland GDP Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
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 4.0% 0.7% 1.8%
2017-03-31 10:00 AM Q4 4.0% 1.2%
2017-07-12 10:00 AM Q1 1.5%
2017-09-14 10:00 AM Q2 1.7%




Irish GDP Expands 4% in Q3, Beats Forecast


The Irish economy expanded 4 percent on the quarter in the third quarter of 2016, following an upwardly revised 0.7 percent growth in the previous period and well above market expectations of 1.2 percent. The growth was mainly driven by net exports as imports shrank. Also, the government and consumption spending increased while investments contracted. Compared to the same quarter of the previous year, the economy expanded 6.9 percent after growing by a downwardly revised 3.1 percent in the previous period.

On the expenditure side, net trade increased 47 percent, as exports went up 1.7 percent (-0.9 percent in Q2) while imports shrank 8.6 percent (+10.6 percent). Also, the government spending rose 0.8 percent (+0.7 percent in Q2). Meanwhile, personal consumption grew at a slower 0.7 percent (+1.9 percent in Q2) and investments contracted 17.8 percent (+36.9 percent in Q2).

On the output side of the accounts, value added for all sectors increased in the quarter with the exception of public administration and defense which declined by 2.6 percent (+1.5 percent in Q2). There was an increase of 5.3 percent in distribution, transport, software and communications sector (+2.8 percent in Q2). The building and construction sector grew by 4.3 percent (+5.7 percent in Q2) with the manufacturing sector increasing by 4 percent (+1.6 percent in Q1). The other services sector rose 1.5 percent (the same pace as in Q2) and the agriculture went up 0.7 percent (-0.3 percent in Q2). 

Compared to the same quarter of the previous year, the economy expanded 6.9 percent after growing by a downwardly revised 3.1 percent in the previous period.

CSO | Yekaterina Guchshina | yekaterina@tradingeconomics.com
12/9/2016 11:41:25 AM



Ireland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 4.00 0.70 20.40 -4.10 percent [+]
GDP Annual Growth Rate 6.90 3.10 28.40 -10.10 percent [+]
GDP 283.70 256.27 283.70 1.94 USD Billion [+]
GDP Constant Prices 64849.00 62359.00 64849.00 24270.00 EUR Million [+]
Gross National Product 53508.00 51587.00 53508.00 21991.00 EUR Million [+]
Gross Fixed Capital Formation 13052.00 15876.00 15876.00 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 1243.00 1234.00 1243.00 790.00 EUR Million [+]
GDP From Construction 1679.00 1609.00 2766.00 1103.00 EUR Million [+]
GDP From Manufacturing 22221.00 21410.00 23179.00 6751.00 EUR Million [+]
GDP From Public Administration 1947.00 1999.00 1999.00 1306.00 EUR Million [+]
Gdp From Services 20424.00 20129.00 20424.00 8392.00 EUR Million [+]
GDP From Transport 14296.00 13572.00 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 January of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
4.00 0.70 20.40 -4.10 1997 - 2016 percent Quarterly
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