Ireland GDP Growth Rate  1995-2018 | Data | Chart | Calendar | Forecast

The Irish economy grew by 3.2 percent on quarter in the three months to December 2017, following an upwardly revised 4.8 percent expansion in the previous period and beating market expectations of 2.6 percent. Gross fixed capital formation rebounded sharply while household consumption rose at a softer pace. Year-on-year, the economy expanded by 8.4 percent, following a 10.9 percent advance in Q3. In 2017, the GDP increased by 7.8 percent, compared with 5.1 percent in 2016. GDP Growth Rate in Ireland averaged 1.49 percent from 1995 until 2017, reaching an all time high of 21.70 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 Faster than Expected in Q4


The Irish economy grew by 3.2 percent on quarter in the three months to December 2017, following an upwardly revised 4.8 percent expansion in the previous period and beating market expectations of 2.6 percent. Gross fixed capital formation rebounded sharply while household consumption rose at a softer pace.

On the expenditure side of the accounts, fixed investment surged 6.1 percent, rebounding from a steep contraction of 35.7 percent in the previous three-month period; and government spending went up 0.8 percent, after a 0.7 percent gain in Q3. Meanwhile, personal consumption growth slowed to 0.3 percent in the fourth quarter from 1.9 percent in Q3. 

There was a modest increase in net exports of EUR 475 million, or 1.6 percent, during the quarter, with exports rising by 4.4 percent (vs 4.7 percent in Q3) and imports advancing 5.7 percent (vs -10.4 percent in Q3).

On the output side, industry made the most positive contribution to the Q4 result, rising by 8.9 percent (vs 5.2 percent in Q3), within which manufacturing recorded a 9.1 percent advance (vs 6 percent in Q3). Increases were also recorded in information and communication (3.5 percent vs 5.8 percent), construction (2.9 percent vs 4.4 percent), financial and insurance activities (1.8 percent vs 4.4 percent) and professional, admin and support services (1.6 percent vs 0.4 percent). In addition, distribution, transport, hotels and restaurants increased by 1.1 percent (vs 1.9 percent in Q3), while agriculture decreased by 6.2 percent (vs 4 percent in Q3).

Compared to the same quarter of the previous year, the GDP expanded by 8.4 percent, following an upwardly revised 10.9 percent growth in the previous period.

In 2017, the GDP increased by 7.8 percent, compared with 5.1 percent in 2016. Net exports rose strongly by 65.2 percent during 2017 and personal consumption, which accounts for almost half of domestic demand, rose by 1.9 percent (vs 3.3 percent) while government expenditure exhibited an increase of 1.8 percent (vs 5.3 percent). Capital investment declined by 22.3 percent in 2017 compared with a 61.2 percent growth in 2016.


CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
3/15/2018 11:47:55 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-09-15 10:00 AM GDP Growth Rate QoQ 1.4% -3.5% 1.35% 1.5%
2017-12-15 11:00 AM GDP Growth Rate QoQ 4.2% 2.7% 1.4% 1.4%
2018-03-15 11:00 AM GDP Growth Rate QoQ 3.2% 4.8% 2.6% 0.8%
2018-07-14 10:00 AM GDP Growth Rate QoQ 3.2% -0.8%
2018-09-15 10:00 AM GDP Growth Rate QoQ 2.2%
2018-12-08 11:00 AM GDP Growth Rate QoQ 1.5%


Ireland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 3.20 4.80 21.70 -3.80 percent [+]
GDP Annual Growth Rate 8.40 10.90 27.60 -9.80 percent [+]
GDP 304.82 290.62 304.82 1.94 USD Billion [+]
GDP Constant Prices 78088.00 75694.00 78088.00 21057.00 EUR Million [+]
Gross National Product 65818.00 61935.00 65818.00 19745.00 EUR Million [+]
Gross Fixed Capital Formation 14697.00 13847.00 24873.00 3873.00 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 666.00 710.00 710.00 370.00 EUR Million [+]
GDP From Construction 2182.00 2120.00 2996.00 1171.00 EUR Million [+]
GDP From Manufacturing 28551.00 26206.00 28551.00 4601.00 EUR Million [+]
GDP From Public Administration 7620.00 7591.00 7620.00 3874.00 EUR Million [+]
GDP From Transport 8365.00 8272.00 8365.00 4167.00 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 May of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
3.20 4.80 21.70 -3.80 1995 - 2017 percent Quarterly
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GDP growth rate by Country
Country Last
United States 2.30 Mar/18
India 1.80 Dec/17
Turkey 1.80 Dec/17
China 1.40 Mar/18
Mexico 1.10 Mar/18
South Korea 1.10 Mar/18
Spain 0.70 Mar/18
Switzerland 0.60 Dec/17
Netherlands 0.50 Mar/18
Australia 0.40 Dec/17
Canada 0.40 Dec/17
Euro Area 0.40 Mar/18
France 0.30 Mar/18
Germany 0.30 Mar/18
Italy 0.30 Mar/18
Brazil 0.10 Dec/17
United Kingdom 0.10 Mar/18
Japan -0.20 Mar/18
Russia -0.38 Dec/17
Indonesia -0.42 Mar/18


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