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Annual National Accounts 2024

Domestic Demand

Domestic Demand decreased by 8.8%, Modified Domestic Demand grew by 1.8%

Online ISSN: 2811-5724

CSO statistical release, 08 July 2025, 11am

	Personal Consumption of Goods & Services	Net Expenditure by Local & Central Government on Goods & Services	Gross Domestic Fixed Capital Formation	Final Domestic Demand
2016	118.8719176407	36.1805105646	118.581934189872	273.1457782209
2017	123.1416607559	37.5456118636	122.998020161758	283.1783120024
2018	130.2866632918	39.2687277937	111.822469852883	280.9003192727
2019	134.0375191247	41.5657337795	223.285912909811	398.7908790487
2020	121.5181282663	46.3649772813	186.512612413065	354.2411760742
2021	132.3598407015	49.4391325069	112.093170710399	293.9137097936
2022	146.6045258938	50.6834059216	115.202018675114	312.3449932162
2023	153.9261751442	53.2171452634	130.595913073008	337.7392334806
2024	158.4593955444	56.0483826635	93.4210294778072	307.9288076857

Figure 9.1 shows the contributions to final domestic demand. Of this total, personal consumption of goods and services accounts for 51.5%, net expenditure by central and local government on current goods and services accounts for 18.2% while gross domestic fixed capital formation accounts for 30.3%.

	Personal Consumption of Goods & Services	Net Expenditure by Local & Central Government on Goods & Services	Modified Gross Domestic Fixed Capital Formation	Modified Final Domestic Demand
2016	123.1416607559	36.1805105646	48.7834124708	203.4336911959
2017	123.1416607559	37.5456118636	51.9415147144	212.0488978942
2018	130.2866632918	39.2687277937	55.4353268268	224.3063955586
2019	134.0375191247	41.5657337795	53.9161577881	229.1210394418
2020	121.5181282663	46.3649772813	48.25760963	216.2405535821
2021	132.3598407015	49.4391325069	51.8035154537	233.7052073084
2022	146.6045258938	50.6834059216	56.0205535463	253.3018228756
2023	153.9261751442	53.2171452634	61.7544505082	268.8977709158
2024	158.4593955444	56.0483826635	59.1331237955	273.6409020034

Figure 9.2 shows the contributions to modified final domestic demand. For this deglobalised measure, personal consumption of goods and services accounts for 57.9%, net expenditure by central and local government on current goods and services accounts for 20.5% while modified gross domestic capital formation accounts for 21.6%.

Final Domestic Demand comprises of:
(a) Personal consumption of goods and services
(b) Net expenditure by central and local government
(c) Gross domestic fixed capital formation

Final Domestic Demand fell by 8.8% in real terms in 2024 compared with 2023. When the Value of physical changes in stocks and net acquisitions of valuables are taken into account, Total Domestic Demand decreased by 9.8% in the year.

Modified Final Domestic Demand comprises of:
(a) Personal consumption of goods and services
(b) Net expenditure by central and local government
(c) Modified Gross domestic fixed capital formation – Excludes investment in Aircraft related to Leasing, and R&D service imports and trade in IP

Modified Final Domestic Demand expanded by 1.8% in year 2024 over 2023 in real terms while Modified Total Domestic Demand (which also includes the value of physical changes in stocks and net acquisitions of valuables) increased by 0.3% over the same period.

Table 9.1 Domestic Demand at Current Market Prices

Table 9.2 Annual Percentage Changes in the Main Constituents of Table 9.1

Table 9.3 Domestic Demand at Constant Market Prices (chain linked annually and referenced to year 2023)

Table 9.4 Annual Percentage Changes in the Main Constituents of Table 9.2

Table 9.5 Modified Domestic Demand at Current Market Prices

Table 9.6 Annual Percentage Changes in the Main Constituents of Table 9.5

Table 9.7 Modified Domestic Demand at Constant Market Prices (chain linked annually and referenced to year 2023)

Table 9.8 Annual Percentage Changes in the Main Constituents of Table 9.7

Next chapter: Personal Spending

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Table 9.1 Domestic Demand 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
Final Domestic Demand		342,056	300,815	257,796	293,876	337,739	319,679
82. Value of physical changes in stocks and net acquisitions of valuables²	P.52 & P.53	1,788	4,594	4,279	9,061	9,288	5,067
Total Domestic Demand		343,843	305,409	262,075	302,937	347,027	324,746
¹Preliminary

Table 9.2 Annual Percentage Changes in the Main Constituents of Table 9.1							%
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
Final Domestic Demand		-1.3	-12.1	-14.3	14.0	14.9	-5.3
Total Domestic Demand		-1.1	-11.2	-14.2	15.6	14.6	-6.4

Table 9.3 Domestic Demand at Constant Market Prices (chain linked annually and referenced to year 2023)²							€ million
Description	ESA Code	2019	2020	2021	2022	2023	2024¹
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 formation²	P.51	223,286	186,513	112,093	115,202	130,596	93,421
Final Domestic Demand		398,791	354,241	293,914	312,345	337,739	307,929
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
Total Domestic Demand		399,082	358,556	298,159	321,265	347,027	313,186
¹Preliminary
²Chain linked series not additive except for 2023 and 2024

Table 9.4 Annual Percentage Changes in the Main Constituents of Table 9.3							%
Description	ESA Code	2019-2024	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
Personal consumption of goods and services	P.3	3.4	-9.3	8.9	10.8	5.0	2.9
Net expenditure by central and local government on current goods and services	P.3	6.2	11.5	6.6	2.5	5.0	5.3
Gross domestic physical capital formation	P.5	-15.2	-15.0	-39.0	6.4	12.7	-29.5
of which
Gross domestic fixed capital formation	P.51	-16.0	-16.5	-39.9	2.8	13.4	-28.5
Final Domestic Demand		-5.0	-11.2	-17.0	6.3	8.1	-8.8
Total Domestic Demand		-4.7	-10.2	-16.8	7.7	8.0	-9.8

Table 9.5 Modified Domestic Demand 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 expenditureof 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
Modified Gross domestic fixed capital formation	Mod P.51	41,315	37,634	43,175	52,344	61,754	61,789
Modified Final Domestic Demand		189,815	180,460	201,964	236,119	268,898	283,835
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
Modified Total Domestic Demand		191,603	185,053	206,243	245,180	278,186	288,902
¹Preliminary

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Domestic Demand

Domestic Demand decreased by 8.8%, Modified Domestic Demand grew by 1.8%

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Table 9.7 Modified Domestic Demand Annex at Constant Market Prices (chain linked annually and referenced to year 2023)²							€ 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
Modified Gross domestic fixed capital formation	Mod P.51	53,916	48,258	51,804	56,021	61,754	59,133
Modified Final Domestic Demand		229,121	216,241	233,705	253,302	268,898	273,641
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
Modified Total Domestic Demand		229,605	220,767	237,896	262,210	278,186	278,898
¹Preliminary.
²Chain linked series not additive except for 2023 and 2024.