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The Expenditure approach uses all spending on final demand to produce an estimate for Gross Domestic Product. We do this by estimating:
The value of exports is then added and imports are deducted.
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 | |
2016 | 118.8719176407 | 36.1805105646 | 118.581934189872 | 3.5570355090783 | 47.658883494297 |
2017 | 123.1416607559 | 37.5456118636 | 122.998020161758 | 4.1602179166877 | 76.954932427077 |
2018 | 130.2866632918 | 39.2687277937 | 111.822469852883 | 0.8302960395683 | 106.01750245259 |
2019 | 134.0375191247 | 41.5657337795 | 223.285912909811 | 1.6677429039635 | 11.901382322268 |
2020 | 121.5181282663 | 46.3649772813 | 186.512612413065 | 4.7424962849263 | 81.1760257589549 |
2021 | 132.3598407015 | 49.4391325069 | 112.093170710399 | 4.51910563596 | 205.220042841069 |
2022 | 146.6045258938 | 50.6834059216 | 115.202018675114 | 8.8952575035344 | 216.344276526444 |
2023 | 153.9261751442 | 53.2171452634 | 130.595913073008 | 9.287748972959 | 175.275667782 |
2024 | 158.4593955444 | 56.0483826635 | 93.4210294778072 | 5.2574950831593 | 222.117925623923 |
Get the data: PxStat NA008
Figure 8.1 shows the relative contributions of each of the components of expenditure. Total Exports increased by 8.6% in 2024, while Total Imports grew by 2.7%. Overall, Net Exports grew to a level of €222.1 billion in the year. Fixed capital formation showed a decrease of 28.5% in 2024. Personal consumption grew by 2.9% while government net current expenditure rose by 5.3%.
Exports of Goods | Exports of Services | Imports of Goods | Imports of Services | Net Exports of Goods & Services | |
2016 | 177.643047464672 | 220.217422580124 | -98.8837387407366 | -252.73841643427 | 59.2731963707347 |
2017 | 183.710305022444 | 264.302962737408 | -97.5159887299886 | -269.029764421418 | 89.7184214812632 |
2018 | 199.556577002699 | 267.23044622452 | -108.605954079783 | -249.898955116638 | 121.384579790764 |
2019 | 213.937082984256 | 306.884498184772 | -118.541835533923 | -386.884446123068 | 18.2172606852864 |
2020 | 247.95250305913 | 342.07177922587 | -115.568921911124 | -390.813867863368 | 84.8764804493876 |
2021 | 293.652313197024 | 371.944860549282 | -120.528662209055 | -339.863015738545 | 204.336961005751 |
2022 | 353.688308310547 | 390.124871061009 | -150.157101843622 | -378.994064229977 | 215.277600879104 |
2023 | 306.2448076 | 410.148480368 | -149.558686759 | -391.558933427 | 175.275667782 |
2024 | 323.045789072667 | 454.724919865168 | -149.261902311032 | -406.390881002881 | 222.117925623923 |
Goods Exports increased by 5.5% in real terms in 2024, while Services Exports rose by 10.9%. Goods Imports decreased by 0.2% in the year, while Services Imports rose by 3.8%. Net Exports of Goods grew to a level of €173.8 billion in the year, while Net Exports of Services recorded a surplus of €48.3 billion in the year. Overall Net Exports of Goods & Services amounted to €222.1 billion for 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.
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