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 grew by 7.4% quarter-on-quarter in Q1 2025, falling short of the second estimate of 9.7%, but accelerating sharply from a revised 4.5% expansion in the previous quarter. Despite the downward revision, it marked the fastest pace of growth since Q1 2021, driven largely by a surge in exports as multinational firms front-loaded shipments ahead of new US tariffs imposed by President Donald Trump. The expansion was concentrated in multinational-dominated sectors, with output from foreign-based companies rising 13.6%. The globalized industry sector jumped 16.5%, while growth in information and communication was modest at 0.5%. In contrast, the domestic economy grew by a more moderate 2.0%, supported by a 49.1% spike in capital investment. Personal consumption edged up just 0.3%, and government spending fell by 1.3%. Meanwhile, GNP declined by 7.2%, a steeper drop than the earlier estimate of 2.1%.