GDP reading: GDP expanded 1.0% in seasonally adjusted annualized terms (SAAR) terms in Q3, down from 2.2% in Q2 and...
Economic Growth in Ireland
Apologies for the confusion. The corrected statement would read: "Over the past decade to 2022, Ireland's economy recorded an average growth rate of 9.1%, which is above the 1.4% average for the Euro Area. In 2022, the real GDP growth was 9.4%." For more GDP information, visit our dedicated page.
Ireland GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Ireland from 2018 to 2017.
Source: Macrobond.
Ireland GDP Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, ann. var. %) | 5.0 | 7.2 | 16.3 | 8.6 | -5.5 |
| GDP (EUR bn) | 364 | 382 | 449 | 521 | 510 |
| Economic Growth (Nominal GDP, ann. var. %) | 8.6 | 5.1 | 17.5 | 16.0 | -2.1 |
GDP records quickest expansion since Q3 2022 in the third quarter
GDP reading: According to a preliminary estimate, GDP rebounded in the third quarter, increasing 2.0% on a seasonally adjusted quarter-on-quarter basis, above the 1.0% contraction seen in the second quarter and marking a two-year high. The rebound was driven by an improvement in the output of multinational firms. On an annual basis, GDP dropped 1.2% in Q3, following the previous period's 4.0% contraction and marking the best result since Q1 2023.
GDP outlook: The GDP figures are liable to significant revisions ahead due to the heavy presence of multinational firms in Ireland’s economy. A second estimate for GDP growth in Q3 will be released in early December.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Irish GDP projections for the next ten years from a panel of 19 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Irish GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Irish GDP projections.
Want to get access to the full dataset of Irish GDP forecasts? Send an email to info@focus-economics.com.
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