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. GDP Growth Rate in Ireland averaged 1.45 percent from 1995 until 2018, reaching an all time high of 22.60 percent in the first quarter of 2015 and a record low of -4.80 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 1.00 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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Ireland GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
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%
2018-07-19 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%
2018-12-17 11:00 AM GDP Growth Rate QoQ 2.5% 1.5%



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.

On the expenditure side of the accounts, household consumption increased 1.5 percent, after showing no growth in the previous three-month period and government spending rose at a sharper 1.3 percent (vs 0.4 percent in Q1). Also, net trade contributed positively to expansion, as exports surged 5.9 percent (-5.5 percent in Q1) while imports advanced only 0.3 percent (vs -3.6 percent in Q1). Meantime, fixed investment declined less (-1.4 percent vs -3.1 percent).

On the output side, industry made the largest positive contribution to the Q2 result, rebounding significantly (5.3 percent vs -9.4 percent in Q1), within which manufacturing also grew (5.0 percent vs -9.9 percent). Other important recoveries were seen in construction (3.2 percent vs -0.6 percent); distribution, trade, hotels & restaurants (3.9 percent vs -0.3 percent); finance and insurance activities (1.2 percent vs -1.2 percent); professional, administrative and support services (3.7 percent vs -2.2 percent). In addition, solid growth was recorded in information and communication (11.9 percent vs 11.3 percent). On the other hand, contractions were seen in agriculture (-3.4 percent vs -2.5 percent); arts and entertainment (-2.8 percent vs -3.8 percent); public administration, education, health (-1.1 percent vs 2.0 percent) and real estate activities (-0.1 percent vs 0.1 percent).

Compared with the same quarter of the previous year, the GDP expanded 9.0 percent, following an upwardly revised 9.3 percent advance in the previous period.


CSO | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
9/13/2018 10:45:37 AM


Recent Releases

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

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.
Published on 2017-09-15



Ireland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.50 -0.40 22.60 -4.80 percent [+]
GDP Annual Growth Rate 9.00 9.30 29.30 -10.30 percent [+]
GDP 333.73 304.82 333.73 1.94 USD Billion [+]
GDP Constant Prices 78200.00 76257.00 78200.00 21184.00 EUR Million [+]
Gross National Product 59578.00 59193.00 62248.00 19915.00 EUR Million [+]
Gross Fixed Capital Formation 15204.00 15420.00 28188.00 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 608.00 629.00 679.00 307.00 EUR Million [+]
GDP From Construction 1957.00 1897.00 2608.00 1008.00 EUR Million [+]
GDP From Manufacturing 24736.00 23488.00 25939.00 5062.00 EUR Million [+]
GDP From Public Administration 7768.00 7852.00 7852.00 4047.00 EUR Million [+]
GDP From Transport 8828.00 8496.00 8828.00 4675.00 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 November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
2.50 -0.40 22.60 -4.80 1995 - 2018 percent Quarterly
SA




Country Last
United States 3.50 Sep/18
Indonesia 3.09 Sep/18
Singapore 3.00 Sep/18
India 1.90 Jun/18
China 1.60 Sep/18
Australia 0.90 Jun/18
Mexico 0.90 Sep/18
Russia 0.90 Jun/18
Turkey 0.90 Jun/18
Canada 0.70 Jun/18
Switzerland 0.70 Jun/18
South Korea 0.60 Sep/18
Spain 0.60 Sep/18
United Kingdom 0.60 Sep/18
France 0.40 Sep/18
Brazil 0.20 Jun/18
Euro Area 0.20 Sep/18
Netherlands 0.20 Sep/18
Italy 0.00 Sep/18
Saudi Arabia -0.05 Mar/18
Germany -0.20 Sep/18
Japan -0.30 Sep/18
South Africa -0.70 Jun/18
Argentina -4.00 Jun/18


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