GDP per capita in Ireland
Ireland - GDP per capita (Euros)
GDP growth slows in Q2, but underlying momentum improves
GDP growth moderated to 6.3% on a seasonally-adjusted quarter-on-quarter basis in the second quarter, from 8.7% in the first quarter. That said, underlying momentum strengthened sharply, with modified total domestic demand—a metric which aims to exclude the impact of transactions by large multinationals—surging as Covid-19 restrictions were lifted.
Household spending increased 12.6% in the second quarter, which contrasted the first quarter's 5.7% contraction. Public consumption rebounded, growing 0.8% in Q2 (Q1: -1.7% s.a. qoq). Gross fixed investment rebounded, growing 5.8% in Q2, contrasting the 25.7% contraction in the prior quarter.
Exports of goods and services growth picked up to 6.4% in Q2 (Q1: +2.6% s.a. qoq). In addition, imports of goods and services bounced back, growing 5.4% in Q2 (Q1: -15.3% s.a. qoq).
On an annual basis, economic growth improved to 21.6% in Q2, following the previous period's 11.2% expansion. Q2's reading marked the best result since Q4 2015.
Looking ahead to H2, the economy is seen continuing to expand at a quick pace, as the lifting of restrictive measures releases pent-up demand and buoys domestic activity. Moreover, exports should gain steam in line with the recovery in key trading partners. However, trade barriers with the UK and the possible prolongation of Covid-19 restrictions cloud the outlook.
FocusEconomics panelists project GDP to expand 7.8% in 2021, which is up 1.2 percentage points from last month’s forecast, and 4.7% in 2022.
Ireland - GDP per capita (EUR) Data
|GDP per capita (EUR)||55,756||56,945||61,569||66,320||70,145|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||-0.09||0.27 %||Jan 01|
|Exchange Rate||1.12||0.65 %||Dec 31|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
November 8, 2021
Industrial production grew 3.5% month-on-month in seasonally-adjusted terms in September (August: -4.2% mom).
November 3, 2021
The IHS Markit Services Purchasing Managers’ Index (PMI) fell to 63.4 in October from September's 63.7.
November 1, 2021
The IHS Markit Manufacturing Purchasing Managers' Index (PMI) rose to 62.1 in October from September's 60.3.
October 22, 2021
Consumer confidence rose to 86.8 in October from September's 86.4.
October 7, 2021
Industrial production dropped 2.8% in month-on-month seasonally-adjusted terms in August, which contrasted July's 6.9% increase. On an annual basis, overall industrial production rose 24.3% in August, which was notably better than July’s 15.4% expansion.