Ireland skyline

Ireland GDP

Ireland GDP

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: Irish Central Statistics Office.

Ireland GDP Data

2018 2019 2020 2021 2022
Economic Growth (GDP, ann. var. %) 8.5 5.3 6.6 15.1 9.4
GDP (EUR bn) 327 356 375 434 506
Economic Growth (Nominal GDP, ann. var. %) 9.7 8.8 5.3 15.7 16.6

GDP rebounds in Q1

According to a preliminary estimate, GDP bounced back in the first quarter, expanding 1.1% on a seasonally adjusted quarter-on-quarter basis, contrasting the 3.4% contraction recorded in the fourth quarter of last year. Q1's reading marked the best result since Q3 2022. On an annual basis, GDP contracted 0.8% in Q1, from the previous period's 8.7% contraction. Q1's reading marked the best result since Q2 2023.

A detailed breakdown is not yet available, but the statistical office said that the result had been driven by the multinational-dominated sector of information and communication.

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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