Ireland’s Economy Surges 9.7% in Q1

Ireland’s economy expanded by 9.7% quarter-on-quarter in Q1 2025, a sharp upgrade from the preliminary estimate of 3.2% and compared with an upwardly revised 5.0% growth in the previous period.

This marked the fastest pace of expansion since Q3 2020, driven primarily by a surge in exports as multinational companies rushed to front-load shipments ahead of new tariffs introduced by US President Donald Trump.

Much of the expansion stemmed from the multinational-dominated sectors, with activity among foreign-based firms rising 12.4%.

The globalized industry sector jumped 17.1%, while the information & communication sector grew by 3.8%.

In contrast, the domestic economy saw more modest growth of 0.7%, supported by a 0.6% rise in personal consumption and a 0.7% increase in government spending.

Meanwhile, the GNP fell by 2.1% in Q1, after a revised 5.1% decline in Q4 2024.