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GDP by Expenditures

GDP by Expenditures

Personal Consumption increases by 2.9%

Online ISSN: 2811-5724
CSO statistical release, , 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.

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 & ServicesNet Expenditure by Local & Central Government on Goods & ServicesGross Domestic Fixed Capital FormationValue of Physical Changes in StocksNet Exports of Goods & Services
2016118.871917640736.1805105646118.5819341898723.557035509078347.658883494297
2017123.141660755937.5456118636122.9980201617584.160217916687776.954932427077
2018130.286663291839.2687277937111.8224698528830.8302960395683106.01750245259
2019134.037519124741.5657337795223.2859129098111.667742903963511.901382322268
2020121.518128266346.3649772813186.5126124130654.742496284926381.1760257589549
2021132.359840701549.4391325069112.0931707103994.51910563596205.220042841069
2022146.604525893850.6834059216115.2020186751148.8952575035344216.344276526444
2023153.926175144253.2171452634130.5959130730089.287748972959175.275667782
2024158.459395544456.048382663593.42102947780725.2574950831593222.117925623923

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 GoodsExports of ServicesImports of GoodsImports of ServicesNet Exports of Goods & Services
2016177.643047464672220.217422580124-98.8837387407366-252.7384164342759.2731963707347
2017183.710305022444264.302962737408-97.5159887299886-269.02976442141889.7184214812632
2018199.556577002699267.23044622452-108.605954079783-249.898955116638121.384579790764
2019213.937082984256306.884498184772-118.541835533923-386.88444612306818.2172606852864
2020247.95250305913342.07177922587-115.568921911124-390.81386786336884.8764804493876
2021293.652313197024371.944860549282-120.528662209055-339.863015738545204.336961005751
2022353.688308310547390.124871061009-150.157101843622-378.994064229977215.277600879104
2023306.2448076410.148480368-149.558686759-391.558933427175.275667782
2024323.045789072667454.724919865168-149.261902311032-406.390881002881222.117925623923

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.

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

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 2023)

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 8.6 Annual Percentage Changes in the Main Constituents of Table 8.5