Ireland’s GDP contracted by 3.4% from the previous quarter in the three months ending December 2023, more than the initial estimates of 0.7% decline and compared to a revised 2.5% fall in the three months to September, final results showed. It was the fourth consecutive period of contractions as the global economic slowdown reduced the profitability of multinational companies, on which Ireland’s economy is dependent. From the previous year, the Irish GDP plunged by 8.7% in Q4, the most since corresponding quarter of 2008. source: Central Statistics Office Ireland

The Gross Domestic Product (GDP) in Ireland contracted 3.40 percent in the fourth quarter of 2023 over the previous quarter. GDP Growth Rate in Ireland averaged 1.37 percent from 1995 until 2023, reaching an all time high of 21.40 percent in the first quarter of 2015 and a record low of -5.40 percent in the second quarter of 2020. 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 April of 2024.

The Gross Domestic Product (GDP) in Ireland contracted 3.40 percent in the fourth quarter of 2023 over the previous quarter. GDP Growth Rate in Ireland is expected to be 1.00 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 2025 and 0.50 percent in 2026, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-01-26 11:00 AM QoQ Prel Q4 -0.7% -1.9% -0.2%
2024-03-01 11:00 AM QoQ Final Q4 -3.4% -2.5% -0.7%
2024-04-29 10:00 AM QoQ Prel Q1 -3.4% 1%


Related Last Previous Unit Reference
GDP Growth Rate YoY -8.70 -5.80 percent Dec 2023
GDP Constant Prices 110443.00 114353.00 EUR Million Dec 2023
GDP from Agriculture 1323.00 1284.00 EUR Million Dec 2023
GDP from Construction 2297.00 2341.00 EUR Million Dec 2023
GDP from Manufacturing 38687.00 41926.00 EUR Million Dec 2023
GDP from Public Administration 11137.00 11013.00 EUR Million Dec 2023
GDP from Transport 10112.00 10048.00 EUR Million Dec 2023
GDP Growth Rate -3.40 -2.50 percent Dec 2023
Gross Fixed Capital Formation 37009.00 22374.00 EUR Million Dec 2023
GNP 86185.00 89918.00 EUR Million Dec 2023

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
-3.40 -2.50 21.40 -5.40 1995 - 2023 percent Quarterly
SA

News Stream
Ireland GDP Contracts More than Anticipated
Ireland’s GDP contracted by 3.4% from the previous quarter in the three months ending December 2023, more than the initial estimates of 0.7% decline and compared to a revised 2.5% fall in the three months to September, final results showed. It was the fourth consecutive period of contractions as the global economic slowdown reduced the profitability of multinational companies, on which Ireland’s economy is dependent. From the previous year, the Irish GDP plunged by 8.7% in Q4, the most since corresponding quarter of 2008.
2024-03-01
Irish GDP Contracts for 5th Straight Quarter
Ireland’s GDP contracted by 0.7% from the previous quarter in the three months ending December of 2023, extending the 1.9% decline in the earlier period to mark the fifth consecutive quarter of contraction in the Irish GDP, according to preliminary results. The results exacerbated the global economic slowdown as major central banks tighten monetary policy and pressure the profitability of major multinational companies, which especially impact Ireland’s GDP due to the large impact of output from foreign-owned multinational companies established in the country. From the previous year, the Irish GDP contracted by 3.4%, slowing from the near-15-year high decline of 5.8% in the earlier quarter.
2024-01-26
Ireland GDP Contracts for 4th Quarter
Ireland's economy contracted by 1.9% qoq in the third quarter of 2023, following a downwardly revised 0.4% decrease in the previous period, final estimate showed. This marked the fourth consecutive contraction, primarily driven by decline in the multinational-dominated sectors (-3.8%). The net foreign demand also had a negative effect on GDP as exports dropped by 2.1%, while imports went down by 1.7%. Meanwhile, modified domestic demand, covering personal, government, and capital formation spending was unchanged. On an annual basis, the GDP have decreased by 5.8%, above the initial projection of 4.7% fall and the most since the third quarter of 2009.
2023-12-01