The Irish economy shrank 6.1 percent on quarter in the second quarter of 2020, following a revised 2.1 percent fall in the previous period as the impact of the COVID-19 restrictions varied across sectors. Sectors focused on the domestic market experienced significantly lower levels of economic activity namely construction (-38.3 percent) and distribution, transport, hotels and restaurants (-30.3 percent). In contrast, growth continued in some of the more globalised sectors like industry (+1.5 percent). Still, the multinational-dominated information and communication sector contracted by 2.3 percent. Year-on-year, the economy plunged 3 percent.
GDP Growth Rate in Ireland averaged 1.34 percent from 1995 until 2020, reaching an all time high of 23.70 percent in the first quarter of 2015 and a record low of -6.10 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 October of 2020. source: Central Statistics Office Ireland
GDP Growth Rate in Ireland is expected to be 3.80 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 1.80 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.