Ireland GDP Growth Rate

The Irish economy expanded by 0.9 percent on quarter in the three months to September of 2018, slowing from a downwardly revised 2.1 percent growth in the previous period. Personal consumption and government spending advanced at a softer pace and net trade contributed negatively to the GDP growth, as imports rose faster than exports. GDP Growth Rate in Ireland averaged 1.45 percent from 1995 until 2018, reaching an all time high of 22.70 percent in the first quarter of 2015 and a record low of -4.70 percent in the first quarter of 2017.

GDP Growth Rate in Ireland is expected to be 1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Ireland to stand at 1.10 in 12 months time. In the long-term, the Ireland GDP Growth Rate is projected to trend around 0.80 percent in 2020, according to our econometric models.

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Calendar	GMT		Actual	Previous	Consensus	TEForecast
2018-03-15	11:00 AM	GDP Growth Rate QoQ	3.2%	4.8%	2.6%	0.8%
2018-07-19	10:00 AM	GDP Growth Rate QoQ	-0.6%	2.8%		1%
2018-09-13	10:00 AM	GDP Growth Rate QoQ	2.5%	-0.4%		2.2%
2018-12-13	11:00 AM	GDP Growth Rate QoQ	0.9%	2.1%		1.5%
2019-03-15	11:00 AM	GDP Growth Rate QoQ		0.9%		1.1%
2019-07-19	10:00 AM	GDP Growth Rate QoQ				-0.8%
2019-09-13	10:00 AM	GDP Growth Rate QoQ				1%

Irish GDP Growth Slows to 0.9% in Q3

The Irish economy expanded by 0.9 percent on quarter in the three months to September of 2018, slowing from a downwardly revised 2.1 percent growth in the previous period. Personal consumption and government spending advanced at a softer pace and net trade contributed negatively to the GDP growth, as imports rose faster than exports.

On the expenditure side of the accounts, household consumption went up 1.0 percent, easing from a 1.3 percent gain in the previous three-month period and government spending increased at a softer 1.8 percent (vs 2.1 percent in Q2). Additionally, net trade contributed negatively to the the growth, as imports advanced 7.1 percent (vs 4.1 percent) while exports rose at a softer 1.5 percent (vs 6.8 percent). Meanwhile, fixed investment jumped 21.8 percent, after grewing 1.4 percent in the second quarter of the year.

On the production side, a slowdown was seen in the industry sector (3.5 percent vs 5.0 percent in Q2); manufacturing (4.1 percent vs 4.7 percent); construction (3.5 percent vs 5.1 percent); distribution, transport, hotels and restaurants (1.1 percent vs 3.1 percent); information and communication (0.1 percent vs 10.9 percent) and professional and administrative services (1.4 percent vs 3.5 percent). Meanwhile, output rebounded in public administration, education and health (1.3 percent vs -1.2 percent in Q2) and arts and entertainment (6.1 percent vs -2.6 percent). Also, output rose further in financial and Insurance activities (2.9 percent vs 1.2 percent) and declined less in agriculture, forestry and fishing (-1.5 percent vs -4.0 percent).

Compared with the same quarter of the previous year, the GDP grew 4.9 percent, following a downwardly revised 8.7 percent expansion in the prior period.

CSO | Stefanie Moya | stefanie.moya@tradingeconomics.com
12/13/2018 11:29:46 AM

News

Irish Economy Returns to Growth in Q2
The Irish gross domestic product advanced by 2.5 percent on quarter in the three months to June of 2018, following an upwardly revised 0.4 percent contraction in the previous period. Personal consumption recovered, government spending went up faster and net trade contributed positively to GDP growth. In addition, fixed investment shrank less.
Published on 2018-09-13

Irish GDP Falls 0.6% in Q1
The Irish economy shrank 0.6 percent on quarter in the three months to March 2018, following a downwardly revised 2.8 percent expansion in the previous period.
Published on 2018-07-19

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.
Published on 2018-03-15

Irish Economy Grows 4.2% in Q3
The Irish economy expanded 4.2 percent on quarter in the three months to September 2017, following an upwardly revised 2.7 percent growth in the previous period and easily beating market expectations of 1.4 percent. It was the strongest pace of expansion in almost a year, boosted by a rebound in household consumption and a positive contribution from net exports.
Published on 2017-12-15

Ireland GDP	Last	Previous	Highest	Lowest	Unit
GDP Growth Rate	0.90	2.10	22.70	-4.70	percent	[+]
GDP Annual Growth Rate	4.90	8.70	29.30	-10.30	percent	[+]
GDP	333.73	304.82	333.73	1.94	USD Billion	[+]
GDP Constant Prices	78476.00	77768.00	78476.00	21184.00	EUR Million	[+]
Gross National Product	63140.00	60033.00	63140.00	19915.00	EUR Million	[+]
Gross Fixed Capital Formation	18952.00	15560.00	28090.00	3972.00	EUR Million	[+]
GDP per capita	74433.46	69892.32	74433.46	12430.71	USD	[+]
GDP per capita PPP	67335.29	63227.21	67335.29	21453.24	USD	[+]
GDP From Agriculture	584.00	594.00	681.00	307.00	EUR Million	[+]
GDP From Construction	2141.00	2068.00	2608.00	1008.00	EUR Million	[+]
GDP From Manufacturing	25593.00	24739.00	25989.00	5062.00	EUR Million	[+]
GDP From Public Administration	7879.00	7775.00	7879.00	4047.00	EUR Million	[+]
GDP From Transport	8844.00	8749.00	8844.00	4675.00	EUR Million	[+]

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 2019.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	0.90	2.10	22.70	-4.70	1995 - 2018	percent	Quarterly	SA

Export Data API

Country	Last		Previous	Range
United States	3.40	Sep/18	4.2	16.7 : -10	%
Indonesia	3.09	Sep/18	4.21	4.21 : -3.57	%
South Africa	2.20	Sep/18	-0.4	7.6 : -6.1	%
India	1.90	Jun/18	2	5.4 : -1.7	%
Singapore	1.60	Dec/18	3.5	36.6 : -13.5	%
China	1.50	Dec/18	1.6	2.4 : 1.4	%
South Korea	1.00	Dec/18	0.6	7.8 : -7	%
Russia	0.90	Jun/18	0.4	4.1 : -5.4	%
Brazil	0.80	Sep/18	0.2	3.9 : -3.9	%
Mexico	0.80	Sep/18	-0.1	3.2 : -5.7	%
Spain	0.60	Sep/18	0.6	1.6 : -1.6	%
United Kingdom	0.60	Sep/18	0.4	5 : -2.7	%
Canada	0.50	Sep/18	0.7	3.1 : -2.3	%
Australia	0.30	Sep/18	0.9	4.4 : -2	%
France	0.30	Sep/18	0.2	8 : -5.3	%
Euro Area	0.20	Sep/18	0.4	1.3 : -3	%
Netherlands	0.20	Sep/18	0.7	1.7 : -3.6	%
Saudi Arabia	-0.05	Mar/18	0.05	8.5 : -2.1	%
Italy	-0.10	Sep/18	0.2	6 : -2.8	%
Germany	-0.20	Sep/18	0.5	4 : -4.5	%
Switzerland	-0.20	Sep/18	0.7	2.4 : -1.9	%
Japan	-0.60	Sep/18	0.7	3.2 : -4.8	%
Argentina	-0.70	Sep/18	-4.1	5 : -5.7	%
Turkey	-1.10	Sep/18	0.6	5.6 : -5.2	%