Industrial Production in Ireland
The Irish economy recorded an average industrial production growth rate of 21% in the decade to 2024. In 2024, industrial production growth was -5.5%. For more industry information, visit our dedicated page.
Ireland Industry Chart
Note: This chart displays Industrial Production (annual variation in %) for Ireland from 2020 to 2024.
Source: Macrobond.
Ireland Industry Data
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Industrial Production (ann. var. %) | 15.4 | 31.1 | 11.2 | -1.5 | -5.5 |
Industrial activity drops at sharpest rate since July 2023 in April
Latest reading: Industrial output plunged 15.2% in month-on-month seasonally adjusted terms in April, which contrasted March's 14.3% increase. The figure marked the worst reading since July 2023. Modern sector output plunged after surging in the prior two months. The modern sector’s output tends to be volatile—even more so now as Trump’s tariffs wreak havoc on trade flows—due to the presence of multinational-dominated industries, such as chemicals, pharmaceuticals and computers and electronics. On an annual basis, overall industrial production rose 18.0% in April, which was significantly below March’s 47.8% expansion. Meanwhile, the trend improved notably, with the annual average growth of industrial production coming in at 9.6%, up from March's 6.6% reading.
Panelist insight: On Ireland’s pharmaceutical sector—which makes up the largest chunk of the country’s industrial output—Fitch Solutions analysts said: “Geopolitical tensions, particularly with the US, pose risks to the sector's outlook. While pharmaceuticals may be exempt from newly announced US tariffs, uncertainty remains regarding potential changes in US tax policies that could impact profit shifting practices of US-based companies in Ireland. Despite these challenges, Ireland's pharmaceutical sector is well-positioned to capitalise on its strong manufacturing base, favourable business environment and strategic importance in global supply chains.”
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Irish industry projections for the next ten years from a panel of 4 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 industry forecast available for Irish industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Irish industry projections.
Want to get access to the full dataset of Irish industry forecasts? Send an email to info@focus-economics.com.
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