Ireland’s gross domestic product expanded by 10.8 percent on quarter in the first three months of 2022, rebounding from an upwardly revised 6.2 percent contraction in the previous period. It was the biggest GDP growth since the first quarter of 2015, mainly driven by foreign demand, as exports rose 5.2 percent in Q, after a 1.5 percent increase in Q4 while imports tumbled 12.3 percent, down from a 23.7 percent surge in Q4. Meanwhile, household consumption fell 0.7 percent (vs -0.5 percent), government expenditure went down 0.4 percent (vs 0.6 percent) and gross fixed capital formation slipped 39.5 percent (vs 75.9 percent). On a yearly basis, the economy advanced 11 percent, accelerating from a 9.6 percent growth in Q4. source: Central Statistics Office Ireland
GDP Growth Rate in Ireland averaged 1.52 percent from 1995 until 2022, reaching an all time high of 23.90 percent in the first quarter of 2015 and a record low of -6.20 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 June of 2022.
GDP Growth Rate in Ireland is expected to be 0.60 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.