| Table 1.1 GDP and GNP Growth Rates | |||
| 2022 | 2023 | % change | |
| GDP at current prices | €520,935m | €509,952m | -2.1% |
| GDP at constant (2022) prices | €520,935m | €492,128m | -5.5% |
| GNP at current prices | €355,811m | €388,014m | 9.1% |
| GNP at constant (2022) prices | €355,811m | €375,507m | 5.5% |
Gross domestic product (GDP) contracted by 5.5% in 2023 while gross national product (GNP) rose by 5.5%. These updated results are updated from the preliminary 2023 estimates published in March 2024 which showed GDP falling by 3.2% and GNP increasing by 4.4%.
| GDP % | GNP % | |
| 2015 | 24.6155699281936 | 14.0585339994053 |
| 2016 | 1.2226385943127 | 5.7014920947602 |
| 2017 | 10.0496283388646 | 5.63355193376797 |
| 2018 | 7.54434199912345 | 4.17922022957644 |
| 2019 | 5.04055018438115 | 4.11429050516039 |
| 2020 | 7.15789878606059 | 3.92203900244919 |
| 2021 | 16.2556135192859 | 13.7426849716339 |
| 2022 | 8.61950341305367 | 2.28707362012971 |
| 2023 | -5.53000730035918 | 5.53548433551198 |
Get the data: PxStat NA008
The estimates in this publication use more complete and up to date data than were available for the Q4 2023 estimates published in March 2024 and updates include weaker results for the Industry and Distribution, Transport, Hotels & Restaurants sectors but partially offset by stronger results in Real Estate, Financial & Insurance Activities and the Arts & Entertainment sector.
These results are compiled in accordance with the latest EU standard framework, ESA 2010. For more information on our main national accounts aggregates, including data per head of population and per person in employment, see Table 1.2 Main Aggregates.
| GDP | GNP | GNI | |
| 2015 | 305.9335436898 | 242.9924247853 | 244.4336796948 |
| 2016 | 309.6740052679 | 256.8466186753 | 258.0020764567 |
| 2017 | 340.7950918594 | 271.3162063285 | 272.5601993737 |
| 2018 | 366.5058391055 | 282.6551081095 | 283.9619311 |
| 2019 | 384.9797498543 | 294.2843603848 | 295.5782712381 |
| 2020 | 412.5362106957 | 305.8263077772 | 307.102729442 |
| 2021 | 479.5965027335 | 347.8550538154 | 348.7513910114 |
| 2022 | 520.9353396555 | 355.8107549875 | 356.5173656282 |
| 2023 | 492.1275773424 | 375.5066035939 | 375.8110496206 |
Get the data: PxStat NA008
Figure 1.2 shows the levels of GDP, GNP and GNI for these internationally comparable measures. More details are available in Table 1.2, including current prices and constant prices as well as per head of population and per person in employment.
Our modified measures for domestic policy purposes are contained in chapter 2 - GNI* and De-Globalised Results. This includes GNI* and Modified Domestic Demand data.
| Agriculture, Forestry & Fishing | Industry (excl. Construction) | Construction | Distribution, Transport, Hotels & Restaurants | Information & Communication | Financial & Insurance Activities | Real Estate Activities | Professional, Admin & Support Services | Public Admin, Education & Health | Arts, Entertainment & Other Services | |
| 2023 | 0.8479580935 | -43.2897593585 | -0.352317518 | -0.489114097599995 | 6.39413426119999 | 2.4691517431 | 2.777020422 | 1.3048410396 | 2.1513988043 | 0.2238074535 |
Get the data: PxStat NA006
Figure 1.3 shows the contributions of each activity to GDP from 2022 to 2023. The Industry (excluding Construction) sector showed a strong decline in the year compared with 2022, while Information & Communication, Agriculture, Forestry & Fishing, Financial & Insurance Activities and Real Estate make a positive contribution to growth in 2023. More details on activity breakdowns of the data are available in Chapters 3 to 7, covering GDP by Incomes and GDP by Producers.
| Personal Consumption of Goods and Services | Net Expenditure by Central and Local Government | Gross Domestic Fixed Capital Formation | Value of Physical Changes in Stocks | Net Exports | Gross Domestic Product | |
| 2015 | 106.0258297316 | 32.9600843024 | 79.7585345053575 | 4.1929249912228 | 78.377896248363 | 305.9335436898 |
| 2016 | 110.5611107467 | 34.4252599748 | 111.594657840408 | 3.6014441715171 | 47.6694045052 | 309.6740052679 |
| 2017 | 114.1971830479 | 35.7241351531 | 115.75053205846 | 4.2121571544779 | 75.7762159630069 | 340.7950918594 |
| 2018 | 120.1831246122 | 37.3636563465 | 105.233485584077 | 0.8406620694973 | 103.615939738826 | 366.5058391055 |
| 2019 | 123.6150991747 | 39.8083087461 | 210.129099529241 | 1.688564240008 | 13.849765370555 | 384.9797498543 |
| 2020 | 111.9107114315 | 44.4499509245 | 175.521726122213 | 4.3990733829221 | 80.5061630175381 | 412.5362106957 |
| 2021 | 121.8173860412 | 47.2666250978 | 106.41557000274 | 5.0182215426706 | 198.935725808211 | 479.5965027335 |
| 2022 | 134.8731720969 | 48.6930470024 | 110.306034753403 | 9.0849653295948 | 214.830555084 | 520.9353396555 |
| 2023 | 141.3394636749 | 50.781517432 | 113.393007168946 | 15.7396531372543 | 167.383178632234 | 492.1275773424 |
Get the data: PxStat NA008
On the Expenditure side of the accounts, Total Exports fell in 2023 for the first time since 2012 with a decline of 5.8% recorded. Total Imports increased by a modest 1.2%. The result is a decrease in net exports of more than €47.4bn in 2023 over 2022 or 22.1%.
Headline investment rose by 8.2% in 2023, the Capital Formation element of which increased by 2.8%. This is predominantly due to an increase in investment in Research & Development and Dwellings. Transactions in Research & Development are largely GDP neutral because of an offsetting increase in imports. For more information see Chapter 8,GDP by Expenditures and Chapter 11, Investment.
Following declines in 2020, 2021 & 2022, investment in Research & Development increased by €4.4bn in 2023, from €46.1bn in 2022 to €50.5bn in 2023. Investment in Dwellings also increased during the year by €1.8bn, from €13.4bn in 2022 to €15.3bn in 2023. For more information see Investment.
Personal Consumption Expenditure (PCE), a measure of consumer spending on goods and services, increased by 4.8% in 2023, with the largest growth seen in spending on Insurance (+46.8%), Transport Services (+28.8%) along with Package Holidays (+24.7%). Significant declines were recorded in Accommodation Services (-24.9%) and Tobacco consumption (-17.0%). This publication includes personal consumption data with product detail, see Personal Spending.
For government consumption, Net Expenditure by Central & Local Government on Current Goods & Services rose by 4.3% in 2023.
Learn about our data and confidentiality safeguards, and the steps we take to produce statistics that can be trusted by all.