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

The Irish economy advanced 1.4 percent on quarter in the three months to September of 2015, following a 1.9 percent expansion in the previous quarter. Personal consumption was the main driver of growth while capital formation slowed sharply and net exports declined. GDP Growth Rate in Ireland averaged 1.10 percent from 1997 until 2015, reaching an all time high of 6.20 percent in the first quarter of 1999 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
1.40 1.90 6.20 -4.10 1997 - 2015 percent Quarterly
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 February of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-07-30 11:00 AM Q1 1.4% 1.2%(R) 0.5%
2015-09-10 11:00 AM Q2 1.9% 2.1% 0.7% 1.1%
2015-12-10 11:00 AM Q3 1.4% 1.9% 1.4%
2016-03-11 11:00 AM Q4 1.4% 1.9%
2016-07-29 10:00 AM Q1 1.6%
2016-09-09 10:00 AM Q2 1.4%

Irish GDP Growth in Q3 Weakest This Year


The Irish economy advanced 1.4 percent on quarter in the three months to September of 2015, following a 1.9 percent expansion in the previous quarter. Personal consumption was the main driver of growth while capital formation slowed sharply and net exports declined.

On the expenditure side, total domestic demand rose by 3 percent, as personal consumption, the largest component of domestic demand, expanded by 0.7 percent following a 0.4 percent growth in Q2; and capital formation increased by 4.9 percent easing from a 20 percent growth in the previous quarter. By contrast, government expenditure continued to drag the expansion down shrinking by 1 percent (-1.2 percent in Q2). Overall net exports fell, as export growth during the quarter of 2.2 percent was outpaced by import growth of 5.4 percent.

On the production side, value added increased for all sectors. There was an overall increase of 2.5 percent in the industry sector, including building and construction where a 1.2 percent increase was recorded. The other services sector increased by 1.4 percent and the distribution, transport, software and communications sector grew by 1.3 percent. Agriculture, forestry and fishing recorded a quarterly increase of 11.4 percent. Meanwhile, public administration and defence shrank by 0.7 percent.

Year-on-year, the economy advanced 7 percent, compared to an upwardly revised 6.8 percent in the previous period, as capital investment and personal expenditure expanded by 35.8 percent and 3.6 percent, respectively; while government expenditure declined by 1.4 percent. Meanwhile, net exports were €1,503m lower. On the output side of the accounts, gross value added in the industry sector (including building and construction) increased by 16.1 percent; distribution, transport, software and communication increased by 8.3 percent; and other services increased by 3.8 percent. Also, agriculture, forestry and fishing increased by 16 percent, while public administration and defence fell by 1 percent.

CSO | Joana.ferreira | joana.ferreira@tradingeconomics.com
12/10/2015 11:21:34 AM

Ireland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.40 1.90 6.20 -4.10 percent [+]
GDP Annual Growth Rate 7.00 6.80 15.60 -8.00 percent [+]
GDP 250.81 238.26 274.71 1.94 USD Billion [+]
GDP Constant Prices 50904.00 50217.00 50904.00 22977.00 EUR Million [+]
Gross National Product 42311.00 42657.00 42657.00 20317.00 EUR Million [+]
Gross Fixed Capital Formation 12128.00 11561.00 12844.00 5116.00 EUR Million [+]
GDP per capita 49360.56 47250.89 52924.82 12465.83 USD [+]
GDP per capita PPP 46633.19 44640.08 50000.51 22467.71 USD [+]
GDP From Agriculture 1282.00 1152.00 1282.00 853.00 EUR Million [+]
GDP From Construction 1243.00 1227.00 2593.00 975.00 EUR Million [+]
GDP From Manufacturing 12653.00 12348.00 13400.00 6393.00 EUR Million [+]
GDP From Public Administration 1492.00 1502.00 1857.00 1229.00 EUR Million [+]
GDP From Transport 13089.00 12920.00 13089.00 5192.00 EUR Million [+]




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