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Annual National Accounts 2024

GDP by Expenditures

Personal Consumption increases by 2.9%

Online ISSN: 2811-5724

CSO statistical release, 08 July 2025, 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 & 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.

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	2019	2020	2021	2022	2023	2024¹

79. Personal consumption of goods and services	P.3	112,422	102,101	114,296	135,461	153,926	164,748
of which:
79(a) Final consumption expenditure of households and NPISHs		105,648	94,821	106,293	126,634	143,697	154,119
79(b) Final consumption expenditure of government		6,774	7,280	8,003	8,827	10,229	10,629
80. Net expenditure by central and local government on current goods and services	P.3	36,078	40,725	44,493	48,314	53,217	57,298
81. Gross domestic fixed capital formation	P.51	193,555	157,989	99,007	110,101	130,596	97,634
82. Value of physical changes in stocks and net acquisitions of valuables	P.52 & P.53	1,788	4,594	4,279	9,061	9,288	5,067
83. Exports of goods and services²	P.6	477,333	533,702	611,669	726,434	716,393	810,337
84. Imports of goods and services²	P.7	-459,886	-454,137	-424,385	-511,603	-541,118	-575,093
85. Statistical discrepancy (equals Item 12, Table 3.1)		2,463	-3,245	-914	2,951	2,426	2,804
86. Gross domestic product at current market prices	B.1*g	363,753	381,729	448,445	520,718	524,729	562,794
87. Net factor income from the rest of the world	D.1 & D.4	-90,450	-103,801	-128,946	-165,125	-133,977	-140,608
	(net to abroad)
88. Gross national product at current market prices		273,303	277,928	319,499	355,594	390,752	422,186
89. EU subsidies	D.3	1,251	1,191	1,177	1,199	1,128	1,230
90. EU taxes	D.2	-456	-410	-735	-876	-884	-589
91. Gross national income at current market prices	B.5*g	274,097	278,709	319,941	355,917	390,996	422,827
91.1 minus Provision for depreciation		-91,657	-106,177	-111,676	-121,828	-129,109	-134,949
91.2 Net National Income at current market prices	B.5*n	182,439	172,531	208,265	234,089	261,886	287,878
¹Preliminary.
²Excluding factor income flows.

Open in Excel: Annual National Accounts 2024 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 2023)

Table 8.3 Expenditure on Gross and Net National Income at Constant Market Prices (chain linked annually and referenced to year 2023)³							€ million
Description	ESA Code	2019	2020	2021	2022	2023	2024 ¹
92. Personal consumption of goods and services	P.3	134,038	121,518	132,360	146,605	153,926	158,459
of which:
92(a). Final consumption expenditure of households and NPISHs		126,949	114,014	124,243	137,669	143,697	147,997
92(b). Final consumption expenditure of government		7,251	7,534	8,156	8,987	10,229	10,463
93. Net expenditure by central and local government on current goods and services	P.3	41,566	46,365	49,439	50,683	53,217	56,048
94. Gross domestic fixed capital formation	P.51	223,286	186,513	112,093	115,202	130,596	93,421
95. Value of physical changes in stocks and net acquisitions of valuables	P.52 & P.53	1,668	4,742	4,519	8,895	9,288	5,257
96. Exports of goods and services³	P.6	518,072	588,306	665,618	745,664	716,393	777,771
97. Imports of goods and services³	P.7	-506,170	-507,130	-460,398	-529,319	-541,118	-555,653
98. Statistical discrepancy (equals item 66, Table 3.6)³		..	..	..	..	2,426	3,065
99. Gross domestic product at constant market prices	B.1*g	401,983	430,740	500,771	538,384	524,729	538,369
100. Net factor income from the rest of the world	D.1 & D.4	-97,684	-114,225	-140,492	-172,776	-133,977	-134,707
	(net to abroad)
101. Gross national product at constant market prices		305,914	317,898	361,583	366,169	390,752	403,662
102. EU subsidies	D.3	1,546	1,486	1,406	1,291	1,128	1,202
103. EU Taxes	D.2	-533	-480	-840	-931	-884	-576
104. Gross national income at constant market prices	B.5*g	306,881	318,865	362,133	366,522	390,996	404,288
104.1 Provision for depreciation	P.51c	-98,412	-116,434	-121,641	-125,505	-129,109	-130,727
104.2 Net national income at constant market prices	B.5*n	208,896	201,931	240,638	241,019	261,886	273,561
¹Preliminary.
²Excluding factor income flows.
³ .. Chain linked series not additive except for 2023 and 2024.

Open in Excel: Annual National Accounts 2024 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 8.6 Annual Percentage Changes in the Main Constituents of Table 8.5

Next chapter: Domestic Demand

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Table 8.2 Annual Percentage Changes in the Main Constituents of Table 8.1							%
Description	ESA Code	2019-2024	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
Personal consumption of goods and services	P.3	7.9	-9.2	11.9	18.5	13.6	7.0
Net expenditure by central and local government on current goods and services	P.3	9.7	12.9	9.3	8.6	10.1	7.7
Gross domestic physical capital formation	P.5	-12.1	-16.8	-36.5	15.4	17.4	-26.6
of which
Gross domestic fixed capital formation	P.51	-12.8	-18.4	-37.3	11.2	18.6	-25.2
Exports of goods and services	P.6	11.2	11.8	14.6	18.8	-1.4	13.1
Imports of goods and services	P.7	4.6	-1.3	-6.6	20.6	5.8	6.3
Gross domestic product at current market prices	B.1*g	9.1	4.9	17.5	16.1	0.8	7.3
Gross national product at current market prices		9.1	1.7	15.0	11.3	9.9	8.0
Gross national income at current market prices	B.5*g	9.1	1.7	14.8	11.2	9.9	8.1
Net national income at current market prices	B.5*n	9.6	-5.4	20.7	12.4	11.9	9.9

Table 8.5 Annual Breakdown of Trade into Goods and Services at Current and Constant Prices							€ million
Description	ESA Code	2019	2020	2021	2022	2023	2024 ¹
Trade at current prices
83. Exports of goods and services²	P.6	477,333	533,702	611,669	726,434	716,393	810,337
of which Exports of goods	P.61	225,093	242,610	280,656	354,786	306,245	327,370
of which Exports of services	P.62	252,240	291,092	331,013	371,648	410,148	482,967

84. Imports of goods and services²	P.7	-459,886	-454,137	-424,385	-511,603	-541,118	-575,093
of which Imports of goods	P.71	-107,828	-100,166	-112,240	-149,652	-149,559	-151,817
of which Imports of services	P.72	-352,058	-353,971	-312,144	-361,951	-391,559	-423,276

Net Exports of goods and services²	P.6 minus P.7	17,447	79,565	187,284	214,831	175,276	235,244
of which Net Exports of goods	P.61 minus P.71	117,265	142,444	168,415	205,133	156,686	175,553
of which Net Exports of services	P.62 minus P.72	-99,819	-62,879	18,869	9,697	18,590	59,691

Trade at constant prices (chain linked annually and referenced to year 2023)³
96. Exports of goods and services²	P.6	518,072	588,306	665,618	745,664	716,393	777,771
of which Exports of goods	P.61	213,937	247,953	293,652	353,688	306,245	323,046
of which Exports of services	P.62	306,884	342,072	371,945	390,125	410,148	454,725

97. Imports of goods and services²	P.7	-506,170	-507,130	-460,398	-529,319	-541,118	-555,653
of which Imports of goods	P.71	-118,542	-115,569	-120,529	-150,157	-149,559	-149,262
of which Imports of services	P.72	-386,884	-390,814	-339,863	-378,994	-391,559	-406,391
¹Preliminary.
²Excluding factor income flows.
³Chain linked series not additive except for 2023 and 2024.

Table 8.6 Annual Percentage Changes in the Main Constituents of Table 8.5							%
Description	ESA Code	2019-2024	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
Trade at current prices
83. Exports of goods and services	P.6	11.2	11.8	14.6	18.8	-1.4	13.1
Exports of goods	P.61	7.8	7.8	15.7	26.4	-13.7	6.9
Exports of services	P.62	13.9	15.4	13.7	12.3	10.4	17.8

84. Imports of goods and services	P.7	4.6	-1.3	-6.6	20.6	5.8	6.3
Imports of goods	P.71	7.1	-7.1	12.1	33.3	-0.1	1.5
Imports of services	P.72	3.8	0.5	-11.8	16.0	8.2	8.1

Trade at constant prices (chain linked annually and referenced to year 2023)
96. Exports of goods and services	P.6	8.5	13.6	13.1	12.0	-3.9	8.6
Exports of goods	P.61	8.6	15.9	18.4	20.4	-13.4	5.5
Exports of services	P.62	8.2	11.5	8.7	4.9	5.1	10.9

97. Imports of goods and services	P.7	1.9	0.2	-9.2	15.0	2.2	2.7
Imports of goods	P.71	4.7	-2.5	4.3	24.6	-0.4	-0.2
Imports of services	P.72	1.0	1.0	-13.0	11.5	3.3	3.8

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