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Annual National Accounts 2022

GDP by Expenditures

Exports increase by 13.9%

Online ISSN: 2811-5724

CSO statistical publication, 14 July 2023, 11am

The Expenditure approach uses all spending on final demand to produce an estimate for Gross Domestic Product. We do this by estimating:

personal expenditure on consumer goods and services
expenditure by central and local government on current goods and services
gross domestic fixed capital formation
value of physical changes in stocks

The value of exports is then added and imports are deducted.

The Tables 8.1 and 8.3 show the contributions of the different components of the Expenditure approach to Gross Domestic Product at current market prices and at constant market prices.

	Personal Consumption of Goods & Services	Net Expenditure by Local & Central Government on Goods & Services	Gross Domestic Fixed Capital Formation	Value of Physical Changes in Stocks	Net Exports of Goods & Services
2014	97.9192058083	30.408308404	47.0591056577545	2.8157760389544	38.247627436417
2015	101.3648186348	31.0995882355	70.820999231031	4.0742636076017	66.337003201882
2016	106.2353650365	32.4707691764	106.430739841821	3.4995219216979	32.703408861918
2017	109.2454314997	33.6922129832	105.709599032007	4.0897255545748	61.4852947080539
2018	113.8655721873	35.2246033909	97.0678932634593	0.8135951024089	90.019390217869
2019	116.8263841002	37.5128256296	194.806542130143	1.6376867991307	4.90487336317403
2020	105.2357225009	41.8634364483	162.652103542485	3.6445501195928	64.779066582866
2021	114.1196450337	44.4899679416	96.9412618056702	5.5452891647991	173.948763575
2022	124.8269652701	46.0615086246	101.867371155332	10.0417415210783	190.123122713746

Get the data: PxStat NA008

Figure 8.1 shows the relative contributions of each of the components of expenditure. Total Exports increased by 13.9% in 2022, while Total Imports grew by 15.9%. Overall, Net Exports rose to a level of €190.1 billion in the year. Fixed capital formation showed an increase of 5.1% in 2022. For more information see Investment. Personal consumption grew by 9.4% while government net current expenditure rose by 3.5%.

	Exports of Goods	Exports of Services	Imports of Goods	Imports of Services	Net Exports of Goods & Services
2014	105.829578807397	125.535778771701	-74.5053283756171	-115.930383672737	44.9483623339502
2015	168.426361441572	146.095734093705	-86.2623953847362	-166.805510300486	78.2228604371473
2016	169.713067715574	162.124251505945	-92.0839659091157	-209.719110765796	45.2660740599151
2017	176.358446818154	190.945307559089	-90.8102696779069	-214.539145249338	75.5550376499175
2018	191.493677048307	212.507086434663	-101.137629911335	-211.605599815731	107.87337228207
2019	205.241169077059	248.784231119569	-110.390267207937	-336.08533335292	11.8631141210387
2020	237.061436228045	267.768517034465	-107.62178696863	-331.116627363477	68.9685975772496
2021	280.740587414	299.781485285	-112.240469093	-294.332840031	173.948763575
2022	343.776068619267	317.568700411439	-142.356945235408	-328.864701081556	190.123122713742

Goods Exports increased by 22.5% in real terms in 2022, while Services Exports rose by 5.9%. Goods Imports increased by 26.8% in the year, with Services Imports also rising by 11.7%. Net Exports of Goods rose to a level of €201.4 billion in the year, while Net Exports of Services recorded a deficit of €11.3 billion in the year.

For a further breakdown of Personal Consumption of Goods & Services go to Personal Spending.

For a further breakdown of Gross Domestic Fixed Capital Formation go to Investment.

Table 8.1 Expenditure on Gross and Net National Income at Current Market Prices

Table 8.1 Expenditure on Gross and Net National Income at Current Market Prices							€ million
Description	ESA Code	2017	2018	2019	2020	2021	2022¹
79. Personal consumption of goods and services	P.3	100,682	106,821	111,572	101,440	114,120	132,927
of which:
79(a) Final consumption expenditure of households and NPISHs		95,028	100,471	104,798	94,160	106,117	124,133
79(b) Final consumption expenditure of government		5,654	6,350	6,774	7,280	8,003	8,794
80. Net expenditure by central and local government on current goods and services	P.3	31,132	33,009	36,192	40,904	44,490	48,826
81. Gross domestic fixed capital formation	P.51	98,644	92,977	193,410	157,894	96,941	109,525
82. Value of physical changes in stocks and net acquisitions of valuables	P.52 & P.53	4,805	919	1,784	3,687	5,545	10,543
83. Exports of goods and services²	P.6	360,344	401,053	456,153	498,854	580,522	694,051
84. Imports of goods and services²	P.7	-294,747	-307,985	-443,633	-428,237	-406,573	-492,003
85. Statistical discrepancy (equals Item 12, Table 3.1)		-2,331	648	880	708	-975	2,414
86. Gross domestic product at current market prices	B.1*g	298,528	327,441	356,357	375,250	434,070	506,282
87. Net factor income from the rest of the world	D.1 & D.4	-62,039	-74,463	-80,774	-92,332	-110,756	-143,407
	(net to abroad)
88. Gross national product at current market prices		236,489	252,978	275,584	282,917	323,314	362,876
89. EU subsidies	D.3	1,504	1,566	1,589	1,512	1,527	1,582
90. EU taxes	D.2	-433	-433	-456	-410	-735	-876
91. Gross national income at current market prices	B.5*g	237,561	254,111	276,717	284,019	324,107	363,582
91.1 minus Provision for depreciation		-74,344	-81,453	-90,259	-106,253	-112,269	-121,887
91.2 Net National Income at current market prices	B.5*n	163,217	172,658	186,457	177,766	211,838	241,695
¹Preliminary
²Excluding factor income flows

Open in Excel: Annual National Accounts 2022 Table 8.1 (XLS 24KB)

Visit Table NA007 on PxStat

Table 8.2 Annual Percentage Changes in the Main Constituents of Table 8.1

Table 8.3 Expenditure on Gross and Net National Income at Constant Market Prices (chain linked annually and referenced to year 2021)

Table 8.3 Expenditure on Gross and Net National Income at Constant Market Prices (chain linked annually and referenced to year 2021)³							€ million
Description	ESA Code	2017	2018	2019	2020	2021	2022 ¹
92. Personal consumption of goods and services	P.3	109,245	113,866	116,826	105,236	114,120	124,827
of which:
92(a). Final consumption expenditure of households and NPISHs		103,115	107,041	109,681	97,844	106,117	116,042
92(b). Final consumption expenditure of government		6,123	6,817	7,138	7,391	8,003	8,785
93. Net expenditure by central and local government on current goods and services	P.3	33,692	35,225	37,513	41,863	44,490	46,062
94. Gross domestic fixed capital formation	P.51	105,710	97,068	194,807	162,652	96,941	101,867
95. Value of physical changes in stocks and net acquisitions of valuables	P.52 & P.53	4,090	814	1,638	3,645	5,545	10,042
96. Exports of goods and services²	P.6	368,205	404,306	452,208	504,350	580,522	661,345
97. Imports of goods and services²	P.7	-306,720	-314,286	-447,303	-439,571	-406,573	-471,222
98. Statistical discrepancy (equals item 66, Table 3.6)		..	..	..	..	-975	2,095
99. Gross domestic product at constant market prices	B.1*g	309,622	335,848	353,640	377,041	434,070	475,016
100. Net factor income from the rest of the world	D.1 & D.4	-63,657	-75,170	-79,735	-93,242	-110,756	-139,112
	(net to abroad)
101. Gross national product at constant market prices		246,086	260,722	273,940	283,779	323,314	335,903
102. EU subsidies	D.3	1,581	1,635	1,642	1,576	1,527	1,431
103. EU Taxes	D.2	-448	-446	-466	-420	-735	-813
104. Gross national income at constant market prices	B.5*g	247,203	261,896	275,100	284,922	324,107	336,521
104.1 Provision for depreciation	P.51c	-73,322	-80,091	-88,941	-106,848	-112,269	-115,860
104.2 Net national income at constant market prices	B.5*n	174,606	182,368	186,394	178,104	211,838	220,661
¹Preliminary
²Excluding factor income flows
³Chain linked series not additive except for 2021 and 2022

Open in Excel: Annual National Accounts 2022 Table 8.3 (XLS 24KB)

Visit Table NA008 on PxStat

Table 8.4 Annual Percentage Changes in the Main Constituents of Table 8.3

Table 8.5 Annual Breakdown of Trade into Goods and Services at Current and Constant Prices

Table 8.5 Annual Breakdown of Trade into Goods and Services at Current and Constant Prices							€ million
Description	ESA Code	2017	2018	2019	2020	2021	2022 ¹
Trade at current prices
83. Exports of goods and services²	P.6	360,344	401,053	456,153	498,854	580,522	694,051
of which Exports of goods	P.61	197,824	211,757	225,944	242,695	280,741	354,428
of which Exports of services	P.62	162,520	189,296	230,209	256,158	299,781	339,623

84. Imports of goods and services²	P.7	-294,747	-307,985	-443,633	-428,237	-406,573	-492,003
of which Imports of goods	P.71	-88,706	-102,312	-107,828	-100,166	-112,240	-152,146
of which Imports of services	P.72	-206,041	-205,673	-335,805	-328,071	-294,333	-339,857

Net Exports of goods and services²	P.6 minus P.7	65,597	93,068	12,520	70,617	173,949	202,048
of which Net Exports of goods	P.61 minus P.71	109,118	109,445	118,116	142,529	168,500	202,282
of which Net Exports of services	P.62 minus P.72	-43,521	-16,377	-105,596	-71,912	5,449	-234

Trade at constant prices (chain linked annually and referenced to year 2021)³
96. Exports of goods and services²	P.6	368,205	404,306	452,208	504,350	580,522	661,345
of which Exports of goods	P.61	176,358	191,494	205,241	237,061	280,741	343,776
of which Exports of services	P.62	190,945	212,507	248,784	267,769	299,781	317,569

97. Imports of goods and services²	P.7	-306,720	-314,286	-447,303	-439,571	-406,573	-471,222
of which Imports of goods	P.71	-90,810	-101,138	-110,390	-107,622	-112,240	-142,357
of which Imports of services	P.72	-214,539	-211,606	-336,085	-331,117	-294,333	-328,865

Net Exports of goods and services²	P.6 minus P.7	75,555	107,873	11,863	68,969	173,949	190,123
of which Net Exports of goods	P.61 minus P.71	88,839	94,448	99,490	131,273	168,500	201,419
of which Net Exports of services	P.62 minus P.72	31,226	16,037	102,873	80,923	5,449	-11,296
¹Preliminary
²Excluding factor income flows.
³Chain linked series not additive except for 2021 and 2022.

Open in Excel: Annual National Accounts 2022 Table 8.5 (XLS 24KB)

Table 8.6 Annual Percentage Changes in the Main Constituents of Table 8.5

Next chapter: Domestic Demand

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Table 8.6 Annual Percentage Changes in the Main Constituents of Table 8.5							%
Description	ESA Code	2017-2022	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022
Trade at current prices
83. Exports of goods and services	P.6	14.0	11.3	13.7	9.4	16.4	19.6
Exports of goods	P.61	12.4	7.0	6.7	7.4	15.7	26.2
Exports of services	P.62	15.9	16.5	21.6	11.3	17.0	13.3

84. Imports of goods and services	P.7	10.8	4.5	44.0	-3.5	-5.1	21.0
Imports of goods	P.71	11.4	15.3	5.4	-7.1	12.1	35.6
Imports of services	P.72	10.5	-0.2	63.3	-2.3	-10.3	15.5

Trade at constant prices (chain linked annually and referenced to year 2021)
96. Exports of goods and services	P.6	12.4	9.8	11.8	11.5	15.1	13.9
Exports of goods	P.61	14.3	8.6	7.2	15.5	18.4	22.5
Exports of services	P.62	10.7	11.3	17.1	7.6	12.0	5.9

97. Imports of goods and services	P.7	9.0	2.5	42.3	-1.7	-7.5	15.9
Imports of goods	P.71	9.4	11.4	9.1	-2.5	4.3	26.8
Imports of services	P.72	8.9	-1.4	58.8	-1.5	-11.1	11.7

Annual National Accounts 2022

GDP by Expenditures

GDP by Expenditures

Exports increase by 13.9%

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