Your feedback can help us improve and enhance our services to the public. Tell us what matters to you in our online Customer Satisfaction Survey.
Tables 3.1 to 3.7 show Net Value Added (NVA) and Gross Value Added (GVA) compiled using the Income Method which looks at Compensation of Employees, Net Operating Surplus & Net Mixed Income, and Consumption of Fixed Capital. These terms are often referred to as Wages, Profits and Depreciation.
Figure 3.1 above shows the contributing components to Gross Value Added (GVA) at current prices in 2024. Net Operating Surplus and Net Mixed Income represented 44.8% of GVA in the year, Consumption of Fixed Capital 24.2%, and Compensation of Employees the remaining 27.6%.
2024 | |
CompensationofEmployees | 27.575383742887 |
NetOperatingsurplus | 44.7829875835087 |
Consumptionof FixedCapital | 24.1828504590651 |
Industry (excl. Construction) | Information & Communication | Professional, Admin & Support Services | Distribution, Transport, Hotels & Restaurants | Public Admin, Education & Health | Real Estate Activities | Financial & Insurance Activities | Construction | Arts, Entertainment & Other Services | Agriculture, Forestry & Fishing | |
2024 | 164.0159162431 | 107.4760900219 | 60.4597954018 | 52.1619471613 | 48.3745647187 | 29.0677274394 | 26.8894568098 | 13.6690789494 | 5.7086542146 | 4.5006861493 |
Get the data: PxStat NA006
Figure 3.2 above shows GVA at constant prices by activity. In 2024, GVA of €164 billion was generated in Industry (excl. Construction) followed by €107 billion in Information & Communication.
Agriculture, Forestry & Fishing | Industry (excl. Construction) | Construction | Distribution, Transport, Hotels & Restaurants | Information & Communication | Financial & Insurance Activities | Real Estate Activities | Professional, Admin & Support Services | Public Admin, Education & Health | Arts, Entertainment & Other Services | |
2023-2024 | 1.27592541575063 | -0.514119047983719 | 0.777013227530876 | 0.727610688845592 | 6.19944628492144 | 16.0900978194182 | 5.97453692755674 | 2.48761603301317 | 1.26332926197821 | -5.80616380733145 |
Get the data: PxStat NA006
Figure 3.3 above shows the growth in each sector. Multinational Enterprise (MNE) dominated sectors of the economy distinguished in Table 5.2 (in Chapter 5 - Gross Value Added by Activity) expanded by 1.5% in 2024. Industry (excluding Construction) fell by 0.5% but this was more than offset by Information & Communication which grew by 6.2%. Most sectors focused on the domestic market expanded with Financial & Insurance activities growing by 16.1% in the year and Real Estate Activities by 6.0%. Other sectors posted more modest growth: Professional, Administration & Support Services increased by 2.5%, Agriculture, Forestry & Fishing and Public Administration, Education & Health both increased by 1.3%, Distribution, Transport, Hotels & Restaurants grew by 0.7% while Construction rose by 0.8%. The Arts & Entertainment sector was the only domestic dominated sector to contract, posting a decline of 5.8% year-on-year.
The Domestic Trading Profits of non-agricultural companies, which represents 53.3% of overall economy Net Value Added at Factor Cost, expanded by 10.6% in 2024 compared with 2023. Remuneration of non-agricultural employees grew by 7.4% in the year. After accounting for factor incomes from the rest of the world, overall Net National Product at Factor Cost increased by 10.3% year-on-year while Net National Income at Market Prices that takes account of national (i.e. non-EU) taxes and national subsidies increased by 9.9%.
After adjusting Net Value Added (NVA) at Factor Cost across the 10 main economic sectors by the Provision for Depreciation, Gross Value Added at Factor Cost recorded an increase of 7.3% in 2024 compared with 2023. After Non Product Taxes and Subsidies are taken into account, Gross Value Added at Current Basic Prices also posted a 7.3% increase in the year. For the Multinational dominated sectors, Industry (excluding Construction) NVA grew by 5.7% with Information & Communication NVA rising by 14.8%. Of the domestic facing sectors, strong double-digit growth was recorded in the following sectors in 2024 compared with 2023: Agriculture, Forestry & Fishing grew significantly by 32.7%, Financial & Insurance Activities NVA rose by 19.0% while Real Estate Activities NVA increased by 15.6%. By comparison, more modest, single-digit growth in NVA was recorded for the following sectors: Public Administration, Education & Health posted growth of 6.2%, Construction NVA rose by 5.6%, Professional, Administration & Support Services increased by 5.2% in the year while Distribution, Transport, Hotels & Restaurants expanded by 1.7%. The only sector recording an NVA decline in 2024 was Arts & Entertainment, where there was a fall of 3.9% over the period compared with 2023.
Gross Value Added at Current Basic Prices across the 10 main economic sectors recorded an increase of 7.3% in 2024 compared with 2023. For the Multinational dominated sectors, Industry (excluding Construction) GVA expanded by 6.1% with Information & Communication GVA rising by 9.9%. Of the domestic facing sectors, Agriculture, Forestry & Fishing GVA increased strongly by 29.3%, Financial & Insurance Activities GVA grew by 16.9% year-on-year while Real Estate Activities GVA also posted strong growth at 12.2% over the year. Public Administration, Education & Health GVA expanded by 6.2% in 2024 compared with 2023, Professional, Administration & Support Services GVA increased by 5.8% while Construction GVA expanded by 5.5% over the year. More modest growth was posted in the Distribution, Transport, Hotels & Restaurants GVA which rose by 1.9% while Arts & Entertainment GVA contracted by 2.9% over the period, the only sector to record a decline in year 2024.
Gross Value Added at Constant Basic Prices or Real GVA across the 10 principal high level economic sectors recorded a 2.5% expansion overall in 2024 compared to 2023. For the Multinational dominated sectors, Industry (excluding Construction) GVA fell by 0.5% while Information & Communication GVA rose by 6.2%. Of the domestic facing sectors, Financial & Insurance Activities GVA increased by 16.1%, Real Estate Activities GVA expanded by 6.0%, Professional, Administration & Support Services GVA rose by 2.5% while Public Administration, Education & Health and Agriculture, Forestry & Fishing both grew by 1.3% year-on-year. Modest expansions were seen in the Construction and Distribution, Transport, Hotels & Restaurants sectors which recorded growth of 0.8% and 0.7% respectively. A contraction in GVA was posted in the Arts & Entertainment sector which fell by 5.8%.
Tell us what matters to you and help us improve our products and services.
Learn about our data and confidentiality safeguards, and the steps we take to produce statistics that can be trusted by all.