13 December 2019
Assistant Director General with responsibility for Economic Statistics, Jennifer Banim, commented:
"Preliminary results for Quarter 3, 2019 show an increase of 1.7% in GDP when we compare results with Quarter 2, 2019. GNP showed an increase of 8.9% in the quarter.
Across the larger sectors of the economy, Industry (excl. Construction) grew by 1.1% in volume terms and Information & Communication increased by 0.8%. The most positive sectoral contributions to the Q3 results were made by the Financial & Insurance Activities sector, increasing by 5.7% in the quarter while the Professional, Administrative & Support Services sector increased by 5.1%. The Agriculture, Forestry & Fishing sector recorded a decrease of 3.2% in the quarter while the Distribution, Transport, Hotels & Restaurant sector recorded a decline of 1.0%.
When we look at expenditure in the economy, we see that:
Commenting on the results for the International Accounts, Quarter 3, 2019, Jennifer Banim continues:
"In the International Accounts, Balance of Payments results for Quarter 3, 2019, the Current Account recorded a surplus of €11.2 billion in flows with the rest of the world, compared with a surplus of €11.4 billion in Quarter 3, 2018 and a deficit of €26.5 billion in Q2 2019.
Today’s International Accounts release includes a table of Current Account transactions with the UK. The results show a surplus of €2.3 billion for trade in goods and services with the UK in the third quarter of 2019. The trade surplus was offset by a deficit of €4.1 billion for income flows, giving an overall Current Account deficit of €1.7 billion with the UK in the quarter, compared to a deficit of €0.7 billion in Quarter 3, 2018."
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