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Annual National Accounts 2024

Investment

Value of Investment was €102.7 billion in 2024

Online ISSN: 2811-5724

CSO statistical release, 08 July 2025, 11am

The following tables show a further breakdown of Gross Domestic Fixed Capital Formation from Expenditure. Tables 11.1 and 11.3 are broken down by type of asset.

Tables 11.2 and 11.4 are broken down by sector of use. The largest industry is Manufacturing (C), which is dominated by assets related to Research & Development. Information and Communication (J) and Professional, Scientific & Technical Activities (M) are also dominated by these Research & Development related assets. Similarly, Administrative & Support Service Activities (N) are dominated by Aircraft related to Leasing.

	Dwellings	Roads	Other Building & Construction	Transfer Costs	Transport Equipment	Agricultural Machinery	Other Machinery & Equipment	Cultivated Biological Resources	Software	Exploration	Artistic Originals	Research & Development
2024	18.1207106964919	1.9130544297	14.4027479227896	1.5905520265548	15.8763875038559	0.351801787	9.4242781317319	-0.1026428074122	6.9618364576996	0.0257907795	0.20413038822	28.8649723944778

Get the data: PxStat NA026

Figure 11.1 above shows the contribution by asset type to gross fixed capital formation. In 2024 the largest contributor was Research & Development, accounting for 29% of the total.

Table 11.1 Gross Domestic Physical Capital Formation at Current Market Prices

Table 11.2 Gross Domestic Fixed Capital Formation by Sector of Use at Current Market Prices

Table 11.3 Gross Domestic Physical Capital Formation at Constant Market Prices (chain linked annually and referenced to year 2023)

Table 11.4 Gross Domestic Fixed Capital Formation by Sector of Use at Constant Market Prices (chain linked annually and referenced to year 2023)

Table 11.4 Gross Domestic Fixed Capital Formation by Sector of Use at Constant Market Prices (chain linked annually and referenced to year 2023)²							€ million
NACE REV. 2 section	Description	2019	2020	2021	2022	2023	2024 ¹
A	Agriculture, Forestry and Fishing	1,572	1,455	1,489	1,294	1,192	986
B	Mining and Quarrying	267	194	177	85	58	13
C	Manufacturing	91,141	71,757	42,532	37,616	49,002	36,776
D	Electricity, Gas, Steam and Air Conditioning Supply	1,756	1,721	1,714	1,640	2,015	2,381
E	Water supply; sewerage, waste management and remediation activities	892	913	835	823	1,324	999
F	Construction	725	588	663	489	494	408
G	Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles	1,887	2,795	2,000	2,296	1,685	1,979
H	Transportation and Storage	2,584	916	1,679	2,538	2,546	1,968
I	Accommodation and Food Service Activities	503	384	311	482	545	644
J	Information and Communication	56,903	64,195	15,930	21,147	18,201	506
K	Financial and Insurance Activities	4,107	3,462	3,154	2,955	1,939	2,011
L	Real Estate Activities	17,970	14,594	16,709	17,711	19,261	18,406
	of which:
	Dwellings (incl. transfer costs)	12,304	11,375	13,913	16,250	18,694	17,861
M	Professional, Scientific and Technical Activities	6,819	666	5,030	5,042	8,711	5,735
N	Administrative and Support Service Activities	20,030	12,234	12,850	14,565	15,564	12,896
O	Public Administration and Defence; Compulsory Social Security	3,715	3,623	3,594	3,304	3,086	3,114
	of which:
	Roads	1,666	1,864	1,948	1,796	1,862	1,858
P	Education	1,519	1,556	1,484	1,407	1,689	1,431
Q	Human Health and Social Work Activities	1,338	1,530	1,518	1,506	2,672	2,563
R	Arts, Entertainment and Recreation	369	262	347	367	433	420
S	Other Service Activities	114	82	128	137	179	185
	165. Gross domestic fixed capital formation at constant market prices	223,286	186,513	112,093	115,202	130,596	93,421
¹Preliminary
²Chain linked series not additive except for 2023 and 2024

Open in Excel: Annual National Accounts 2024 Table 11.4 (XLS 25KB)

Visit Table NA027 on PxStat

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Table 11.1 Gross Domestic Physical Capital Formation at Current Market Prices						€ million
Description	2019	2020	2021	2022	2023	2024 ¹
Fixed capital
Dwellings	7,224	7,121	9,526	13,238	17,879	18,121
Roads	1,232	1,419	1,645	1,709	1,862	1,913
Other building and construction (including land rehabilitation etc.)	14,997	13,451	13,780	14,264	14,834	14,403
Costs associated with transfer of land and buildings	1,505	1,162	1,472	1,891	1,560	1,591
Transport equipment	19,925	12,428	13,901	17,036	18,502	15,876
Agricultural machinery	569	486	539	500	486	352
Other machinery and equipment	5,412	4,859	6,123	9,117	10,182	9,424
Cultivated biological resources	28	9	28	-32	-53	-103
Software	2,776	3,309	3,428	5,975	5,522	6,962
Exploration	111	58	71	61	40	26
Artistic originals	191	173	164	220	201	204
Research and development	139,585	113,514	48,328	46,123	59,582	28,865
Gross domestic fixed capital formation	193,555	157,989	99,007	110,101	130,596	97,634
Changes in stocks
Value of physical changes in stocks on farms	-36	-55	115	-0	-56	-109
Value of physical changes in EU intervention stocks	-54	0	0	0	0	0
Value of physical changes in other stocks	1,878	4,648	4,164	9,061	9,343	5,176
Total value of physical changes in stocks	1,788	4,594	4,279	9,061	9,288	5,067
162. Gross domestic physical capital formation at current market prices	195,343	162,583	103,285	119,162	139,884	102,701
¹Preliminary

Table 11.2 Gross Domestic Fixed Capital Formation by Sector of Use at Current Market Prices							€ million
NACE REV. 2 section	Description	2019	2020	2021	2022	2023	2024 ¹
A	Agriculture, Forestry and Fishing	1,313	1,199	1,304	1,237	1,192	1,013
B	Mining and Quarrying	203	146	144	78	58	14
C	Manufacturing	90,576	65,870	39,462	36,973	49,002	38,305
D	Electricity, Gas, Steam and Air Conditioning Supply	1,366	1,360	1,465	1,561	2,015	2,480
E	Water supply; sewerage, waste management and remediation activities	664	698	706	783	1,324	1,029
F	Construction	592	481	577	464	494	424
G	Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles	1,582	2,302	1,726	2,198	1,685	2,070
H	Transportation and Storage	2,164	781	1,504	2,445	2,546	2,025
I	Accommodation and Food Service Activities	433	327	270	466	545	657
J	Information and Communication	47,919	55,446	14,635	20,552	18,201	726
K	Financial and Insurance Activities	3,132	2,712	2,676	2,781	1,939	2,144
L	Real Estate Activities	11,792	9,960	12,450	15,542	19,261	19,513
	of which:
	Dwellings (incl. transfer costs)	8,008	7,725	10,293	14,222	18,694	18,952
M	Professional, Scientific and Technical Activities	9,273	576	4,607	4,874	8,711	5,984
N	Administrative and Support Service Activities	17,106	10,568	11,395	13,719	15,564	13,267
O	Public Administration and Defence; Compulsory Social Security	2,784	2,791	3,045	3,142	3,086	3,223
	of which:
	Roads	1,232	1,419	1,645	1,709	1,862	1,913
P	Education	1,195	1,248	1,297	1,345	1,689	1,495
Q	Human Health and Social Work Activities	1,054	1,234	1,322	1,452	2,672	2,643
R	Arts, Entertainment and Recreation	310	221	310	356	433	427
S	Other Service Activities	97	68	110	131	179	193
	163. Gross domestic fixed capital formation at current market prices	193,555	157,989	99,007	110,101	130,596	97,634
¹Preliminary

Table 11.3 Gross Domestic Physical Capital Formation at Constant Market Prices (chain linked annually and referenced to year 2023)²						€ million
Description	2019	2020	2021	2022	2023	2024 ¹
Fixed capital
Dwellings	11,227	10,577	12,988	15,197	17,879	17,082
Roads	1,666	1,864	1,948	1,796	1,862	1,858
Other building and construction (including land rehabilitation etc.)	20,280	17,665	16,317	14,987	14,834	13,985
Costs associated with transfer of land and buildings	1,931	1,475	1,716	1,962	1,560	1,490
Transport equipment	23,229	14,332	15,666	18,103	18,502	15,489
Agricultural machinery	612	553	591	512	486	342
Other machinery and equipment	5,542	5,210	6,719	9,253	10,182	9,238
Cultivated biological resources	38	11	29	-30	-53	-98
Software	3,559	4,107	4,025	6,364	5,522	6,379
Exploration	150	76	84	64	40	25
Artistic originals	209	184	169	226	201	200
Research and development	146,631	123,903	51,394	46,924	59,582	27,431
Gross domestic fixed capital formation	223,286	186,513	112,093	115,202	130,596	93,421
Changes in stocks
Value of physical changes in stocks on farms	-1	-2	3	-0	-56	-102
Value of physical changes in EU intervention stocks	-54	0	0	0	0	0
Value of physical changes in other stocks	1,749	4,785	4,397	8,897	9,343	5,360
Total value of physical changes in stocks	1,668	4,742	4,519	8,895	9,288	5,257
164. Gross domestic physical capital formation at constant market prices	223,138	190,490	116,377	124,140	139,884	98,679
¹Preliminary
²Chain linked series not additive except for 2023 and 2024

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Annual National Accounts 2024

Investment

Investment

Value of Investment was €102.7 billion in 2024

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