Ireland's economy grew by 1.8 percent on quarter in the three months to December 2019, following an upwardly revised 2.1 percent in the previous period. Fixed investment jumped 122.9 percent (vs -54.1 percent in Q3), driven by IPP, and government spending advanced 0.8 percent (vs 1.4 percent in Q3), while household consumption stagnated (vs 0.7 percent in Q3). Also, imports surged 34 percent (vs -21.6 percent in Q3) while exports rose at a much softer 2.0 percent (vs 2.1 percent in Q3). On the production side, information & communication was the biggest driver of growth, while manufacturing output contracted. Year-on-year, the GDP growth picked up to 6.2 percent from 4.5 percent. Considering 2019 full year, the economy expanded 5.5 percent, the weakest rate since 2016.

GDP Growth Rate in Ireland averaged 1.43 percent from 1995 until 2019, reaching an all time high of 23.20 percent in the first quarter of 2015 and a record low of -5.90 percent in the first quarter of 2017. 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 2020. source: Central Statistics Office Ireland

GDP Growth Rate in Ireland is expected to be -16.80 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 2.60 in 12 months time. In the long-term, the Ireland GDP Growth Rate is projected to trend around 1.50 percent in 2021 and 0.70 percent in 2022, according to our econometric models.

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Ireland GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.80 2.10 23.20 -5.90 1995 - 2019 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2019-07-11 10:00 AM Q1 2.4% 0.3% 0.5%
2019-09-13 10:00 AM Q2 0.7% 2.7% 1%
2019-12-13 11:00 AM Q3 1.7% -0.1% 1.5%
2020-03-06 11:00 AM Q4 1.8% 2.1% 1.0%
2020-07-10 10:00 AM Q1 1.8% -1.2%
2020-09-14 10:00 AM Q2 -16.8%
2020-12-17 11:00 AM Q3 4.7%


News Stream
Irish Economy Expands 1.8% in Q4
Ireland's economy grew by 1.8 percent on quarter in the three months to December 2019, following an upwardly revised 2.1 percent in the previous period. Fixed investment jumped 122.9 percent (vs -54.1 percent in Q3), driven by IPP, and government spending advanced 0.8 percent (vs 1.4 percent in Q3), while household consumption stagnated (vs 0.7 percent in Q3). Also, imports surged 34 percent (vs -21.6 percent in Q3) while exports rose at a much softer 2.0 percent (vs 2.1 percent in Q3). On the production side, information & communication was the biggest driver of growth, while manufacturing output contracted. Year-on-year, the GDP growth picked up to 6.2 percent from 4.5 percent. Considering 2019 full year, the economy expanded 5.5 percent, the weakest rate since 2016.
2020-03-06
Irish Economy Returns to Growth in Q3
Ireland’s GDP expanded 1.7 percent on quarter in the three months to September 2019, up from a revised 0.1 percent contraction in the previous period. Positive contributions to growth came from household consumption and foreign trade. Year-on-year, GDP growth advanced to 5.0 percent in the third quarter from a downwardly revised 4.9 percent in the previous three-month period.
2019-12-13
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.
2019-09-13
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.
2019-07-11

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.