Ireland’s gross domestic product contracted 5.4 percent on the quarter in the three months to December of 2021, the sharpest contraction on record and falling from an upwardly revised 1.2 percent increase in the previous quarter. Household consumption edged down 0.3 percent, extending the 0.2 percent decrease in the previous quarter. At the same time, net foreign demand contributed negatively to growth, as imports jumped by 22.7 percent while exports ticked up by a slower 1.3 percent. On the other hand, gross domestic fixed capital jumped 76.5 percent, while government expenditure rose by 0.9 percent. On a yearly basis, the economy expanded 9.6 percent in Q4, easing from the 11.3 percent rise in the previous quarter. Considering the full 2021, Ireland’s economy rose 13.5 percent. source: Central Statistics Office Ireland

GDP Growth Rate in Ireland averaged 1.44 percent from 1995 until 2021, reaching an all time high of 23.40 percent in the first quarter of 2015 and a record low of -5.40 percent in the fourth quarter of 2021. This page provides - Ireland GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Ireland GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2022.

GDP Growth Rate in Ireland is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Ireland GDP Growth Rate is projected to trend around 0.60 percent in 2023, according to our econometric models.

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Ireland GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2021-12-03 11:00 AM Q3 0.9% 5.2% 4.4%
2022-03-04 11:00 AM Q4 -5.4% 1.2% 1%
2022-06-03 10:00 AM Q1 -5.4%


Related Last Previous Unit Reference
GDP Growth Rate -5.40 0.90 percent Dec 2021
GDP Annual Growth Rate 9.60 11.40 percent Dec 2021
GDP Constant Prices 104408.00 110258.00 EUR Million Dec 2021
Gross National Product 81134.00 82837.00 EUR Million Dec 2021
Gross Fixed Capital Formation 34066.00 19301.00 EUR Million Dec 2021
GDP From Public Administration 9329.00 9160.00 EUR Million Dec 2021
GDP From Manufacturing 42971.00 48963.00 EUR Million Dec 2021
GDP From Construction 2037.00 1917.00 EUR Million Dec 2021
GDP From Agriculture 753.00 887.00 EUR Million Dec 2021
GDP From Transport 8518.00 8305.00 EUR Million Dec 2021
GDP From Services 20231.00 20385.00 EUR Million Dec 2016

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.
Actual Previous Highest Lowest Dates Unit Frequency
-5.40 0.90 23.40 -5.40 1995 - 2021 percent Quarterly
SA

News Stream
Irish GDP Contracts at Record Rate
Ireland’s gross domestic product contracted 5.4 percent on the quarter in the three months to December of 2021, the sharpest contraction on record and falling from an upwardly revised 1.2 percent increase in the previous quarter. Household consumption edged down 0.3 percent, extending the 0.2 percent decrease in the previous quarter. At the same time, net foreign demand contributed negatively to growth, as imports jumped by 22.7 percent while exports ticked up by a slower 1.3 percent. On the other hand, gross domestic fixed capital jumped 76.5 percent, while government expenditure rose by 0.9 percent. On a yearly basis, the economy expanded 9.6 percent in Q4, easing from the 11.3 percent rise in the previous quarter. Considering the full 2021, Ireland’s economy rose 13.5 percent.
2022-03-04
Irish GDP Growth Slows Sharply in Q3
Ireland’s gross domestic product expanded 0.9 percent on quarter in the three months to September of 2021, easing from a downwardly revised 5.2 percent expansion in Q2. Household consumption edged up 0.5 percent, slowing sharply from a 14.5 percent surge in the previous period and gross domestic fixed capital declined 3.8 percent, after a 4.8 percent rise while government expenditure rose further (0.8 percent vs 0.5 percent). Also, net foreign demand contributed negatively to growth, as imports jumped 4.5 percent while exports increased at a softer 1.3 percent. On a yearly basis, the economy expanded 11.4 percent, following a 21.1 percent gain in Q2.
2021-12-03
Irish GDP Growth Slows to 6.3% in Q2
Ireland's economy grew by 6.3 percent from the previous period in the second quarter of 2021, easing from an upwardly revised 8.7 percent expansion in Q1. Household consumption expanded 12.6 percent (vs -5.7 in Q1) and fixed investment advanced 5.8 percent (vs -25.7 percent). Also, foreign demand contributed to growth, as exports surged 6.4 percent (vs 2.6 percent) while imports rose at a softer 5.4 percent (vs -15.3 percent). On a yearly basis, the economy expanded 21.6 percent, following an 11.2 percent gain in Q1.
2021-09-02