The Irish economy shrank 3 percent year-on-year in the second quarter of 2020, following an upwardly revised 5.7 percent jump in the previous period, due to the coronavirus crisis. It is the biggest fall contraction since the third quarter of 2009. Capital investment slumped 67.5 percent and accounted for 38.9 percent of total domestic demand. Consumer spending went down 22.1 percent, exports edged down 0.2 percent and imports sank 37.2 percent.
GDP Annual Growth Rate in Ireland averaged 5.65 percent from 1996 until 2020, reaching an all time high of 29.10 percent in the first quarter of 2015 and a record low of -10.20 percent in the fourth quarter of 2008. This page provides - Ireland GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Ireland GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Central Statistics Office Ireland
GDP Annual Growth Rate in Ireland is expected to be -1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Ireland to stand at 2.80 in 12 months time. In the long-term, the Ireland GDP Annual Growth Rate is projected to trend around 1.80 percent in 2021 and 3.60 percent in 2022, according to our econometric models.