Ireland GDP Growth Rate

Last Release

Mar 31, 2025

Actual

3.2

Units In

-1.3

Frequency

Quarterly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
23.4 Mar 2015	-5.4 Dec 2021	1.39 %	1995-2025	Central Statistics Office Ireland

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.

Latest Updates

Ireland’s economy expanded by 9.7% quarter-on-quarter in Q1 2025, a sharp upgrade from the preliminary estimate of 3.2% and compared with an upwardly revised 5.0% growth in the previous period. This marked the fastest pace of expansion since Q3 2020, driven primarily by a surge in exports as multinational companies rushed to front-load shipments ahead of new tariffs introduced by US President Donald Trump. Much of the expansion stemmed from the multinational-dominated sectors, with activity among foreign-based firms rising 12.4%. The globalized industry sector jumped 17.1%, while the information & communication sector grew by 3.8%. In contrast, the domestic economy saw more modest growth of 0.7%, supported by a 0.6% rise in personal consumption and a 0.7% increase in government spending. Meanwhile, the GNP fell by 2.1% in Q1, after a revised 5.1% decline in Q4 2024.