The Irish economy grew by 0.7 percent on quarter in the three months to June 2019, easing from a revised 2.7 percent expansion in the previous period. Household consumption increased at a faster pace and fixed investment rose the most for two years, while net external demand contributed negatively to the GDP due to a jump in imports. GDP Growth Rate in Ireland averaged 1.42 percent from 1995 until 2019, reaching an all time high of 23.40 percent in the first quarter of 2015 and a record low of -5.60 percent in the first quarter of 2017.

GDP Growth Rate in Ireland is expected to be 1.50 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 0.80 in 12 months time. In the long-term, the Ireland GDP Growth Rate is projected to trend around 0.70 percent in 2020, according to our econometric models.

Ireland GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-12-13 11:00 AM GDP Growth Rate QoQ Q3 0.9% 2.1% 1.5%
2019-03-14 11:00 AM GDP Growth Rate QoQ Q4 0.1% 0.9% 1.1%
2019-07-11 10:00 AM GDP Growth Rate QoQ Q1 2.4% 0.3% 0.5%
2019-09-13 10:00 AM GDP Growth Rate QoQ Q2 0.7% 2.7% 1%
2019-12-17 11:00 AM GDP Growth Rate QoQ Q3 0.7% 1.5%



Irish GDP Growth Rate Eases in Q2

The Irish economy grew by 0.7 percent on quarter in the three months to June 2019, easing from a revised 2.7 percent expansion in the previous period. Household consumption increased at a faster pace and fixed investment rose the most for two years, while net external demand contributed negatively to the GDP due to a jump in imports.

On the expenditure side of the accounts, household consumption rose 0.8 percent in the second quarter, following a 0.6 percent increase in the previous three-month period; and fixed investment jumped 182 percent, the largest gain since the second quarter of 2017. Meanwhile, net trade contributed negatively to GDP growth, as imports climbed 43 percent (vs -2 percent in Q1) and exports rose at a slower 2.6 percent (vs 1.5 percent in Q1).

On the output side, industry led the expansion (5.7 percent vs 1.1 percent) due to manufacturing (5.8 percent vs 1 percent). Output growth was also recorded for agriculture, forestry & fishing (3.9 percent vs 5.2 percent); construction (0.4 percent vs 5 percent); public administration, education & health (1.4 percent vs flat reading); information & communication (8.1 percent vs 10.8 percent); and real estate activities (0.1 percent vs 0.9 percent). In contrast, output fell for distribution, transport, hotels & restaurants (-0.2 percent vs -0.4 percent); financial & insurance activities (-0.2 percent vs 0.8 percent); professional & administrative services (-1.3 percent vs -2.2 percent); and arts, entertainment & other services (-0.3 percent vs -0.7 percent).

Year-on-year, GDP growth slowed to 5.8 percent in the second quarter from 7.4 percent in the previous three-month period.


CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/13/2019 10:19:57 AM


News

Irish GDP Grows the Most in a Year
The Irish economy expanded 2.4 percent on quarter in the first three months of 2019, accelerating from an upwardly revised 0.3 percent advance in the previous period. It was the highest growth rate since the last quarter of 2017.
Published on 2019-07-11

Irish GDP Barely Grows in Q4
The Irish economy grew by 0.1 percent on quarter in the final three months of 2018, slowing sharply from a 0.9 percent expansion in the previous period, as solid increases in private consumption and fixed investment were partially offset by a negative contribution from net exports.
Published on 2019-03-14

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.
Published on 2018-12-13

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



Ireland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.70 2.70 23.40 -5.60 percent [+]
GDP Annual Growth Rate 5.80 7.40 29.20 -10.40 percent [+]
GDP 375.90 331.43 375.90 1.94 USD Billion [+]
GDP Constant Prices 84556.00 83983.00 84556.00 22399.00 EUR Million [+]
Gross National Product 61522.00 63277.00 67264.00 21303.00 EUR Million [+]
Gross Fixed Capital Formation 48690.00 17268.00 50855.00 4063.00 EUR Million [+]
GDP per capita 78764.60 74559.30 78764.60 12708.80 USD [+]
GDP per capita PPP 70361.05 66604.43 70361.05 21658.43 USD [+]
GDP From Agriculture 861.00 828.00 916.00 371.00 EUR Million [+]
GDP From Construction 2212.00 2212.00 2898.00 1114.00 EUR Million [+]
GDP From Manufacturing 28826.00 26988.00 28826.00 5165.00 EUR Million [+]
GDP From Public Administration 7970.00 7811.00 7970.00 4306.00 EUR Million [+]
GDP From Transport 9210.00 9259.00 9288.00 4825.00 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 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.70 2.70 23.40 -5.60 1995 - 2019 percent Quarterly
SA




Country Last Previous
Indonesia 4.20 Jun/19
South Africa 3.10 Jun/19
United States 2.00 Jun/19
China 1.60 Jun/19
Turkey 1.20 Jun/19
India 1.00 Jun/19
South Korea 1.00 Jun/19
Canada 0.90 Jun/19
Australia 0.50 Jun/19
Netherlands 0.50 Jun/19
Spain 0.50 Jun/19
Brazil 0.40 Jun/19
France 0.30 Jun/19
Japan 0.30 Jun/19
Switzerland 0.30 Jun/19
Euro Area 0.20 Jun/19
Italy 0.00 Jun/19
Mexico 0.00 Jun/19
Saudi Arabia 0.00 Mar/19
Germany -0.10 Jun/19
United Kingdom -0.20 Jun/19
Argentina -0.30 Jun/19
Russia -0.40 Mar/19
Singapore -3.30 Jun/19


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