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Annual National Accounts 2024

Gross Value Added by Activity

Multinational sector activity rose by 1.5% in 2024 while non-MNE dominated grew by 3.6%

Online ISSN: 2811-5724

CSO statistical release, 08 July 2025, 11am

	Foreign-owned MNE dominated	Other
2016	111.425388650375	195.933780627226
2017	123.153810391001	207.561893493404
2018	142.862792341623	217.611550561943
2019	152.375125840361	226.871501569788
2020	189.456198629889	214.306534717086
2021	237.50463878775	231.524366110526
2022	269.585347718411	240.231595134989
2023	237.410439818229	261.863455193753
2024	241.012617783688	271.311299325602

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Gross Value Added (GVA) at constant (2023) basic prices for the MNE dominated sectors of the economy rose by 1.5% between 2023 and 2024. The non-MNE dominated sectors grew by 3.6% over the same period, resulting in an overall expansion of 2.6%.

Real GVA for the total economy was just over €512 billion in the 2024 reference period, with GVA for MNE dominated sectors contributing approximately €241 billion while GVA for the non-MNE dominated sectors was approximately €271 billion.

Of the larger non-MNE dominated sectors, there were increases in the Financial & Insurance Activities sector (+16.1%), Manufacture of Food products, beverages and tobacco products (+9.0%), Real Estate Activities (+6.0%), Public administration and defence (+5.1%), Legal, Accounting, Management Consultancy, Architecture & Engineering Activities (+3.6%), Agriculture, Forestry & Fishing (+1.3%), Administrative & Support Service Activities (+1.2%) and Construction (+0.8%). The larger domestic facing sectors that recorded year-on-year contractions included the Arts & Entertainment sector (-10.2), Wholesale & Retail sector incl. the Sale & Repair of Motor Vehicles (-0.8%) and Education (-0.8%).

Amongst the larger MNE dominated sectors, there was growth in Information and Communication (+6.2%) while the Industrial Manufacturing sector comprising Furniture; Other Manufacturing; Repair & Installation of Machinery & Equipment which is largely driven by the Medical Devices constituent element increased by +5.6%. The manufacturing of Chemicals & Chemical Products, Solid Fuel, Coke & Refined Petroleum Products declined -54.6% in the year compared with 2023.

	Foreign-owned MNE dominated	Other
2016	0.332875093302182	0.64904218296783
2017	3.87633097705631	3.84317814491126
2018	6.1907921354741	3.15669972705802
2019	2.67323162999194	2.6023050947103
2020	11.6379845604253	-3.94354529773216
2021	12.1311129476859	4.34710173029125
2022	6.90817671497294	1.87499213090163
2023	-6.34295142591549	4.26449822422533
2024	0.721483338393329	1.89231686780294

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	Foreign-owned MNE dominated	Other	Total
1995	15.7203159648063	101.988890656152	112.716818912439
1996	16.9610867478625	107.670961764363	119.486838120472
1997	21.1842106666121	115.327179278312	131.986060333795
1998	25.2333504457312	122.380903967342	143.74784510997
1999	29.8539358348134	128.93796375426	155.786432057709
2000	33.8252489338239	137.239865256427	168.502587662038
2001	35.8322164479349	141.513326371721	174.921830430188
2002	41.505644927074	145.296646477147	185.578711864954
2003	39.5777083228801	150.436844372657	187.986225884329
2004	40.3911840887957	159.700489619853	197.759735465533
2005	44.096408990458	168.042259156528	209.806307379005
2006	46.4956765720415	175.386060888962	219.437511662072
2007	51.4710316635327	187.914277721184	236.595647643758
2008	49.9628038534873	183.992411383107	231.284528155095
2009	52.0562106758527	167.502098235298	216.542927384692
2010	55.1650602005766	168.302661072676	220.436868719756
2011	55.5470778821096	173.250334575502	225.736480508571
2012	55.1833153291457	167.200442602413	219.440735832162
2013	53.8851310189978	173.287876378968	224.22919767154
2014	61.8873461928586	184.954743086261	243.584176719948
2015	110.407714494773	193.949512447382	298.391629264022
2016	111.425388650375	195.933780627226	301.321588222709
2017	123.153810391001	207.561893493404	324.582135712019
2018	142.862792341623	217.611550561943	354.922424434933
2019	152.375125840361	226.871501569788	373.646487280201
2020	189.456198629889	214.306534717086	402.396489301163
2021	237.50463878775	231.524366110526	468.704246664852
2022	269.585347718411	240.231595134989	509.87133203721
2023	237.410439818229	261.863455193753	499.273895011982
2024	241.012617783688	271.311299325602	512.32391710929

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The share of total GVA at constant prices accounted for by the foreign-owned MNE dominated sectors stood at 47.0% in 2024, a decline from 47.6% in 2023 (see Table 5.3).

Table 5.1 Gross Value Added of Foreign-owned MNE dominated sectors and Other sectors at Current Basic Prices

Table 5.2 Gross Value Added of Foreign-owned MNE dominated sectors and Other sectors at Constant Basic Prices (chain-linked annually and referenced to year 2023)

Table 5.3 Composition of Foreign-owned multinational enterprise dominated sectors and Other sectors

Table 5.4 provides gross value added (GVA) at basic prices in current terms for 37 sectors of the economy according to the NACE Rev. 2 classification system. It provides more detail than that of the 10 economic sectors shown in Table 3.4. Table 5.4 provides valuations of GVA for the sectors at 'basic prices', in line with the valuation used in Tables 3.3 and 3.4. 'Basic prices' is the valuation used in EU publications and differs from 'factor cost' in that overhead taxes (such as rates) are included in the basic prices valuations while overhead subsidies are excluded.

Table 5.4 Gross Value Added by Activity at Current Basic Prices

Table 5.4 Gross Value Added by Activity at Current Basic Prices								€ million
NACE REV. 2 section	NACE REV. 2 division	Description	2019	2020	2021	2022	2023	2024¹
A	01-03	Agriculture, forestry and fishing	3,470	3,852	4,633	6,107	4,444	5,747
B	05-09	Mining and quarrying	504	381	633	784	718	835
C	10-33	Manufacturing	116,147	128,319	153,881	193,176	156,393	166,390
		of which
CA	10-12	food products, beverages and tobacco products	7,739	7,682	8,328	9,718	10,602	11,657
CB	13-15	textiles, wearing apparel and leather products	161	142	176	191	206	216
CC	16-18	wood and paper products, and printing	889	834	970	1,098	1,282	1,251
CD-CE	19-20	coke and refined petroleum products, chemicals and chemical products	14,563	17,109	13,888	13,277	5,948	2,835
CF²	21	basic pharmaceutical products and pharmaceutical preparations	n/a	n/a	n/a	n/a	n/a	n/a
CG	22-23	rubber and plastic products, and other non-metallic mineral products	1,671	1,524	1,689	1,893	2,158	2,277
CH	24-25	basic metals and fabricated metal products, except machinery and equipment	1,507	1,410	1,287	1,420	1,792	1,882
CI²	26	computer, electronic and optical products	n/a	n/a	n/a	n/a	n/a	n/a
CJ	27	electrical equipment	428	470	458	423	591	617
CK	28	machinery and equipment n.e.c.	1,352	1,714	1,278	1,533	1,723	1,572
CL	29-30	transport equipment	385	250	268	278	321	307
CM	31-33	furniture; other manufacturing; repair and installation of machinery and equipment	9,955	9,015	11,079	13,293	15,414	16,410
D	35	Electricity, gas, steam and air-conditioning supply	2,936	3,137	3,923	3,653	5,630	5,423
E	36-39	Water Supply; sewerage, waste management and remediation activities	1,469	1,391	2,051	2,370	2,122	2,322
F	41-43	Construction	9,461	8,700	10,130	12,243	13,564	14,312
G	45-47	Wholesale and retail trade, repair of motor vehicles and motorcycles	24,734	26,454	28,151	31,638	34,251	34,284
H	49-53	Transportation and storage	7,118	3,676	4,859	7,801	9,293	9,665
I	55-56	Accommodation and food services activities	5,710	2,843	3,899	7,083	8,241	8,832
J	58-63	Information and Communication	51,163	61,551	79,589	87,796	101,202	111,215
		of which
JA²	58-60	Publishing, audiovisual and broadcasting activities	24,286	n/a	n/a	n/a	n/a	n/a
JB	61	Telecommunications	3,291	3,402	3,850	3,916	3,599	3,955
JC²	62-63	Computer programming, consultancy and related activities; information service activities	23,586	n/a	n/a	n/a	n/a	n/a
K	64-66	Financial and insurance activities	17,039	15,883	19,936	17,573	23,163	27,082
L	68	Real estate activities	20,317	20,235	22,216	25,516	27,429	30,768
MA	69-71	Legal and accounting activities; activities of head offices; management consultancy activities; architecture and engineering activities; technical testing and analysis	14,403	17,691	19,906	23,252	26,186	27,500
MB	72	Scientific research and development	1,226	1,064	1,274	1,957	2,573	2,993
MC	73-75	Advertising and market research; other professional, scientific and technical activities; veterinary activities	2,410	2,061	2,525	2,538	2,776	2,813
N	77-82	Administrative and support service activities	24,261	21,058	20,854	24,285	27,458	29,090
O	84	Public administration and defence; compulsory social security	9,614	10,153	10,804	11,719	12,581	13,523
P	85	Education	10,053	9,865	10,514	11,446	12,447	13,189
QA	86	Human health activities	11,642	12,050	13,635	14,890	16,756	17,885
QB	87-88	Social work activities	4,636	4,465	4,779	5,385	5,987	6,123
R	90-93	Arts, entertainment and recreation	2,685	2,159	2,603	3,411	3,605	3,333
S	94-96	Other service activities	1,860	1,498	1,645	2,317	2,370	2,473
T	97-98	Activities of households as employers of domestic personnel and undifferentiated goods and services production of households for own use	189	179	203	35	85	81
U³	99	Activities of extra-territorial organisations and bodies	6	6	3	2	10	9
		Statistical Discrepancy (equals Item 12, Table 3.1)	-2,463	3,245	914	-2,951	-2,426	-2,804
		Gross value added at current basic prices	340,587	361,910	423,557	494,027	496,848	533,074
¹Preliminary.
²NACE Rev.2 sections CF and CI are suppressed for 2019 to 2024 for confidentiality reasons; Nace Rev.2 sections JA and JC are suppressed for 2020 to 2024 for confidentiality reasons.
³Sector U is not included in the total as per ESA 2010 Section 2.06.

Open in Excel: Annual National Accounts 2024 Table 5.4 (XLS 28KB)

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Table 5.5 provides gross value added at constant prices (chain linked and referenced to 2023) for 37 sectors of the economy. The same sectors are used as in Table 5.4 which is at current prices. The table provides a detailed breakdown of real growth in the constituent sectors of the economy. It aligns with Table 3.6 (the 10 sector breakdown) but provides a greater level of detail. The valuation used in Table 5.5 (as in Table 5.4) is 'basic prices'.

Table 5.5 Gross Value Added by Activity at Constant Basic Prices (chain linked annually and referenced to year 2023)

Table 5.5 Gross Value Added by Activity at Constant Basic Prices (chain linked annually and referenced to year 2023)⁴								€ million
NACE REV. 2 section	NACE REV. 2 division	Description	2019	2020	2021	2022	2023	2024¹
A	01-03	Agriculture, forestry and fishing	3,540	3,552	3,675	4,053	4,444	4,501
B	05-09	Mining and quarrying	227	461	738	774	718	807
C	10-33	Manufacturing	111,346	136,740	169,706	196,559	156,393	154,847
		of which
CA	10-12	food products, beverages and tobacco products	7,675	6,933	8,250	9,062	10,602	11,561
CB	13-15	textiles, wearing apparel and leather products	163	153	180	196	206	212
CC	16-18	wood and paper products, and printing	1,039	1,002	1,077	1,049	1,282	1,329
CD-CE	19-20	coke and refined petroleum products, chemicals and chemical products	15,154	18,871	15,337	14,025	5,948	2,700
CF²	21	basic pharmaceutical products and pharmaceutical preparations	n/a	n/a	n/a	n/a	n/a	n/a
CG	22-23	rubber and plastic products, and other non-metallic mineral products	1,865	1,955	2,047	2,029	2,158	2,273
CH	24-25	basic metals and fabricated metal products, except machinery and equipment	1,744	1,644	1,385	1,443	1,792	2,055
CI²	26	computer, electronic and optical products	n/a	n/a	n/a	n/a	n/a	n/a
CJ	27	electrical equipment	534	580	547	444	591	622
CK	28	machinery and equipment n.e.c.	1,574	1,896	1,441	1,613	1,723	1,442
CL	29-30	transport equipment	306	268	280	271	321	329
CM	31-33	furniture; other manufacturing; repair and installation of machinery and equipment	9,559	7,162	9,858	13,150	15,414	16,278
D	35	Electricity, gas, steam and air-conditioning supply	6,219	8,165	3,737	2,150	5,630	6,117
E	36-39	Water Supply; sewerage, waste management and remediation activities	2,337	2,077	2,028	1,942	2,122	2,245
F	41-43	Construction	13,516	11,856	12,639	13,360	13,564	13,669
G	45-47	Wholesale and retail trade, repair of motor vehicles and motorcycles	28,173	26,825	31,518	33,265	34,251	33,971
H	49-53	Transportation and storage	16,703	9,850	10,073	8,072	9,293	9,677
I	55-56	Accommodation and food services activities	11,249	5,591	4,494	7,457	8,241	8,513
J	58-63	Information and Communication	56,919	67,737	83,706	90,056	101,202	107,476
		of which
JA²	58-60	Publishing, audiovisual and broadcasting activities	27,297	n/a	n/a	n/a	n/a	n/a
JB	61	Telecommunications	3,240	3,273	3,377	3,495	3,599	3,737
JC²	62-63	Computer programming, consultancy and related activities; information service activities	26,395	n/a	n/a	n/a	n/a	n/a
K	64-66	Financial and insurance activities	19,245	18,608	24,198	21,005	23,163	26,889
L	68	Real estate activities	23,343	23,184	26,041	27,193	27,429	29,068
MA	69-71	Legal and accounting activities; activities of head offices; management consultancy activities; architecture and engineering activities; technical testing and analysis	16,469	20,171	22,288	24,640	26,186	27,123
MB	72	Scientific research and development	1,462	1,243	1,439	2,108	2,573	2,836
MC	73-75	Advertising and market research; other professional, scientific and technical activities; veterinary activities	2,796	2,305	2,826	2,723	2,776	2,707
N	77-82	Administrative and support service activities	31,514	27,151	25,490	25,254	27,458	27,794
O	84	Public administration and defence; compulsory social security	9,901	10,480	11,511	12,045	12,581	13,222
P	85	Education	12,224	12,003	11,934	12,302	12,447	12,347
QA	86	Human health activities	14,466	13,494	14,244	15,572	16,756	16,757
QB	87-88	Social work activities	5,514	5,340	5,235	5,603	5,987	6,049
R	90-93	Arts, entertainment and recreation	3,207	2,526	2,744	3,573	3,605	3,238
S	94-96	Other service activities	2,034	1,596	1,704	2,146	2,370	2,391
T	97-98	Activities of households as employers of domestic personnel and undifferentiated goods and services production of households for own use	214	193	217	36	85	79
U³	99	Activities of extra-territorial organisations and bodies	8	7	4	2	10	8
		Statistical Discrepancy (equals Item 66, Table 4) ⁴	..	..	..	..	-2,426	-3,065
		Gross value added at constant basic prices	375,231	407,509	472,343	510,009	496,848	509,259
¹Preliminary.
²NACE Rev.2 sections CF and CI are suppressed for 2019-2024 for confidentiality reasons; NACE Rev.2 sections JA and JC are suppressed for 2020 to 2024 for confidentiality reasons.
³Sector U is not included in the total as per ESA 2010 Section 2.06.
⁴.. Chain linked series not additive except for 2023 and 2024.

Open in Excel: Annual National Accounts 2024 Table 5.5 (XLS 28KB)

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Table 5.1 Gross Value Added of Foreign-owned MNE dominated sectors and Other sectors at Current Basic Prices
						€ million
	2019	2020	2021	2022	2023	2024
Foreign-owned MNE dominated	151,956	174,789	217,785	263,044	237,410	256,280
Other	191,093	183,876	204,858	233,934	261,863	279,597
Total	343,049	358,665	422,643	496,978	499,274	535,877

						%
Annual Percentage Changes	2019-2024	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
Foreign-owned MNE dominated	11.0	15.0	24.6	20.8	-9.7	7.9
Other	7.9	-3.8	11.4	14.2	11.9	6.8
Total	9.3	4.6	17.8	17.6	0.5	7.3

Table 5.2 Gross Value Added of Foreign-owned MNE dominated sectors and Other sectors at Constant Basic Prices (chain-linked annually and referenced to year 2023)
						€ million
	2019	2020	2021	2022	2023	2024
Foreign-owned MNE dominated	152,375	189,456	237,505	269,585	237,410	241,013
Other	226,872	214,307	231,524	240,232	261,863	271,311
Total	373,646	402,396	468,704	509,871	499,274	512,324

						%
Annual Percentage Changes	2019-2024	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
Foreign-owned MNE dominated	9.6	24.3	25.4	13.5	-11.9	1.5
Other	3.6	-5.5	8.0	3.8	9.0	3.6
Total	6.5	7.7	16.5	8.8	-2.1	2.6

Table 5.3 Composition of Foreign-owned multinational enterprise dominated sectors and Other sectors¹
Description	Nace code	Percentage of 2024 GVA at constant basic prices
Industry NACE sectors dominated by Foreign-owned MNEs²	19, 20, 21, 26, and 31-32	26.2%
(Reproduction of recorded media, Chemicals and chemical products, Basic pharmaceutical products and pharmaceutical preparations, Computer, electronic and optical products, Electrical equipment, Medical and dental instruments and supplies)
Software and communications sectors	58, 61-63	20.8%
Foreign-owned MNE dominated Total		47.0%

'Other' Sector		53.0%
The 'Other' Sector includes all Nace sectors excluding those listed as part of the Foreign-owned MNE dominated sector above and includes Wholesale & retail sector including the sale and repair of motor vehicles, Administrative & support service activities, Construction, Accommodation & food services and the Manufacture of Food, beverages & tobacco products
¹Foreign-owned Multinational Enterprise (MNE) dominated sectors occur where MNE turnover on average exceeds 85% of the sector total.
²Nace Rev.2 divisions 18, 20, 21, 26, 27 & 32.5 are collapsed together for 2024 for confidentiality reasons.

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Annual National Accounts 2024

Gross Value Added by Activity

Gross Value Added by Activity

Multinational sector activity rose by 1.5% in 2024 while non-MNE dominated grew by 3.6%

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