The Irish economy grew by 0.1 percent on quarter in the final three months of 2018, slowing sharply from a 0.9 percent expansion in the previous period, as solid increases in private consumption and fixed investment were partially offset by a negative contribution from net exports. GDP Growth Rate in Ireland averaged 1.43 percent from 1995 until 2018, reaching an all time high of 22.60 percent in the first quarter of 2015 and a record low of -5 percent in the first quarter of 2017.

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. Looking forward, we estimate GDP Growth Rate in Ireland to stand at 0.30 in 12 months time. In the long-term, the Ireland GDP Growth Rate is projected to trend around 0.70 percent in 2020, according to our econometric models.

Ireland GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-07-19 10:00 AM GDP Growth Rate QoQ -0.6% 2.8% 1%
2018-09-13 10:00 AM GDP Growth Rate QoQ 2.5% -0.4% 2.2%
2018-12-13 11:00 AM GDP Growth Rate QoQ 0.9% 2.1% 1.5%
2019-03-14 11:00 AM GDP Growth Rate QoQ 0.1% 0.9% 1.1%
2019-07-19 10:00 AM GDP Growth Rate QoQ 0.1% 0.5%
2019-09-13 10:00 AM GDP Growth Rate QoQ 1%
2019-12-17 11:00 AM GDP Growth Rate QoQ 1.5%



Irish GDP Barely Grows in Q4

The Irish economy grew by 0.1 percent on quarter in the final three months of 2018, slowing sharply from a 0.9 percent expansion in the previous period, as solid increases in private consumption and fixed investment were partially offset by a negative contribution from net exports.

On the expenditure side of the accounts, household consumption rose 0.5 percent in the fourth quarter, following a 0.9 percent increase in the previous three-month period; and fixed investment advanced 10.1 percent, easing from a 25.2 percent jump in Q3. Meanwhile, net trade contributed negatively to the GDP growth, as imports climbed 9 percent (vs 10.6 percent in Q3) and exports increased at a slower 5.3 percent (vs 1.3 percent in Q3).

On the output side, financial and insurance activities made the most positive contribution to the Q4 result, rising by 3.1 percent, the same pace as in the previous period. Increases were also recorded in professional, admin and support services (3 percent vs 1.8 percent), public admin, education and health (1.5 percent vs 1.4 percent) and agriculture (0.9 percent vs -3.2 percent). Information and communication recorded a small increase (0.1 percent vs 0.5 percent). By contrast, construction output decreased 2.4 percent (vs 2.9 percent in Q3) while industrial production decreased 2 percent (vs 3.2 percent in Q3), within which manufacturing recorded a 1.8 percent contraction (vs 3.4 percent in Q3). Distribution, transport, hotels and restaurants recorded a slight decrease of 0.5 percent (vs 0.8 percent in Q3).

Year-on-year, the GDP growth slowed to a near two-year low of 3 percent in the fourth quarter from 5.4 percent in the previous three-month period. Considering 2018 full year, the Irish economy expanded 6.7 percent, slower than 7.2 percent in 2017.


CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
3/14/2019 12:11:58 PM



Ireland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.10 0.90 22.60 -5.00 percent [+]
GDP Annual Growth Rate 3.00 5.40 29.30 -10.30 percent [+]
GDP 333.73 304.82 333.73 1.94 USD Billion [+]
GDP Constant Prices 78828.00 78764.00 78828.00 21184.00 EUR Million [+]
Gross National Product 61823.00 63338.00 63338.00 19915.00 EUR Million [+]
Gross Fixed Capital Formation 21807.00 18952.00 28090.00 3972.00 EUR Million [+]
GDP per capita 74433.46 69892.32 74433.46 12430.71 USD [+]
GDP per capita PPP 67335.29 63227.21 67335.29 21453.24 USD [+]
GDP From Agriculture 567.00 563.00 684.00 307.00 EUR Million [+]
GDP From Construction 2075.00 2126.00 2608.00 1008.00 EUR Million [+]
GDP From Manufacturing 25008.00 25530.00 26107.00 5062.00 EUR Million [+]
GDP From Public Administration 8025.00 7904.00 8025.00 4047.00 EUR Million [+]
GDP From Transport 8760.00 8800.00 8800.00 4675.00 EUR Million [+]


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. This page provides - Ireland GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Ireland GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on June of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.10 0.90 22.60 -5.00 1995 - 2018 percent Quarterly
SA




Country Last Previous
Singapore 3.80 Mar/19
United States 3.10 Mar/19
India 1.60 Dec/18
China 1.40 Mar/19
Turkey 1.30 Mar/19
Saudi Arabia 1.07 Dec/18
Russia 0.80 Dec/18
Spain 0.70 Mar/19
Japan 0.60 Mar/19
Switzerland 0.60 Mar/19
Netherlands 0.50 Mar/19
United Kingdom 0.50 Mar/19
Australia 0.40 Mar/19
Euro Area 0.40 Mar/19
Germany 0.40 Mar/19
France 0.30 Mar/19
Canada 0.10 Mar/19
Italy 0.10 Mar/19
Brazil -0.20 Mar/19
Mexico -0.20 Mar/19
South Korea -0.40 Mar/19
Indonesia -0.52 Mar/19
Argentina -1.20 Dec/18
South Africa -3.20 Mar/19


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