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

The Irish economy expanded 1.4 percent on quarter in the three months to June 2017, rebounding from an upwardly revised 3.5 percent contraction in the previous period and in line with market expectations. Fixed investment and government spending were the main drivers of growth, while household consumption shrank for the first time in four years and net exports contributed negatively. Year-on-year, the GDP advanced 5.8 percent after a 5.2 percent expansion in the previous period. GDP Growth Rate in Ireland averaged 1.35 percent from 1997 until 2017, reaching an all time high of 21.40 percent in the first quarter of 2015 and a record low of -3.80 percent in the fourth quarter of 2008.

Ireland GDP Growth Rate
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Irish Economy Grows 1.4% in Q2


The Irish economy expanded 1.4 percent on quarter in the three months to June 2017, rebounding from an upwardly revised 3.5 percent contraction in the previous period and in line with market expectations. Fixed investment and government spending were the main drivers of growth, while household consumption shrank for the first time in four years and net exports contributed negatively.

On the expenditure side, capital formation, which accounts for approximately 35 percent of domestic demand, jumped 39.9 percent, after contracting by 38.1 percent in Q1. Also, government spending rose 0.6 percent, recovering from a 0.1 percent fall in the previous period. By contrast, household consumption, which accounts for almost half of domestic demand, shrank 1.1 percent, the first drop since the first quarter of 2013, following a 0.9 percent gain in Q1. Net exports decline by 31.4 percent due to a surge in imports (12 percent from -12.5 percent in Q1) while exports were unchanged (from -0.3 percent in Q1). 

On the output side of the accounts, value added of agriculture rose by 15.9 percent Q2 2017 compared with the previous quarter. Arts and entertainment recorded a 5.4 percent increase in real terms with professional and administration services recording a 5.1 percent advance. Financial services grew by 4.6 percent over the same period. All other sectors exhibited modest growth over the period with the exception of the real estate and construction sectors which recorded modest declines (-0.1 percent and -0.3 percent respectively).

Compared to the same quarter of the previous year, the GDP advanced 5.8 percent after growing by a downwardly revised 5.2 percent in the previous period.

CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/15/2017 10:27:03 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-03-09 11:00 AM GDP Growth Rate QoQ 2.5% 4.0% 1.2%
2017-07-14 10:00 AM GDP Growth Rate QoQ -2.6% 5.8% 2% 1.5%
2017-09-15 10:00 AM GDP Growth Rate QoQ 1.4% -3.5% 1.35% 1.5%
2017-12-08 11:00 AM GDP Growth Rate QoQ 1.4% 1.4%


Ireland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.40 -3.50 21.40 -3.80 percent [+]
GDP Annual Growth Rate 5.80 5.20 27.60 -9.80 percent [+]
GDP 294.05 283.72 294.05 1.94 USD Billion [+]
GDP Constant Prices 71147.00 70149.00 72711.00 24833.00 EUR Million [+]
Gross National Product 54224.00 56824.00 62025.00 22207.00 EUR Million [+]
Gross Fixed Capital Formation 22128.00 15816.00 25531.00 5204.00 EUR Million [+]
GDP per capita 66787.14 64784.09 66787.14 12323.69 USD [+]
GDP per capita PPP 62828.34 60944.02 62828.34 22116.98 USD [+]
GDP From Agriculture 779.00 672.00 779.00 370.00 EUR Million [+]
GDP From Construction 1984.00 1989.00 3026.00 1233.00 EUR Million [+]
GDP From Manufacturing 24398.00 24355.00 26689.00 5213.00 EUR Million [+]
GDP From Public Administration 7436.00 7379.00 7436.00 3960.00 EUR Million [+]
Gdp From Services 20231.00 20385.00 20385.00 8392.00 EUR Million [+]
GDP From Transport 8086.00 8079.00 8128.00 4646.00 EUR Million [+]


Ireland GDP Growth Rate

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 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.40 -3.50 21.40 -3.80 1997 - 2017 percent Quarterly
SA




gdp growth rate by Country

Last
Indonesia 4.00 Jun/17
United States 3.00 Jun/17
Turkey 2.10 Jun/17
China 1.70 Jun/17
India 1.50 Mar/17
Netherlands 1.50 Jun/17
Canada 1.10 Jun/17
Spain 0.90 Jun/17
Australia 0.80 Jun/17
Euro Area 0.60 Jun/17
Germany 0.60 Jun/17
Japan 0.60 Jun/17
Mexico 0.60 Jun/17
South Korea 0.60 Jun/17
France 0.50 Jun/17
Italy 0.40 Jun/17
Switzerland 0.30 Jun/17
United Kingdom 0.30 Jun/17
Brazil 0.20 Jun/17
Russia -0.57 Sep/15