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Annual National Accounts 2025

GDP by Expenditures

Personal Consumption increases by 2.6%

Online ISSN: 2811-5724

CSO statistical release, 02 July 2026, 11am

The Expenditure approach uses all spending on final demand to produce an estimate for Gross Domestic Product. This is done 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
2017	125.1665149994	39.1201193231	128.325887822506	4.0439269793023	83.3197543428001
2018	132.4235737258	40.8933721431	116.666249615278	0.8070867013359	113.582191946682
2019	136.330708477	43.237683796	232.957920580571	1.6211243398634	16.5768282916259
2020	123.2062323047	48.2589980215	194.749749247119	4.6099288691118	88.866320318122
2021	134.3890661198	51.4578458315	117.380759113901	4.3962244691215	217.910684903848
2022	148.9804058268	52.6247545999	123.335968835299	8.6456032722024	230.084064036178
2023	155.435330275	54.7941654857	137.422351807408	9.0246969368786	184.719871603725
2024	159.2308713359	57.5163668868	102.250662908561	6.4532880836439	233.9186671648
2025	163.349892232	59.347672784	141.529325239395	1.3750781915165	239.139476926998

Get the data: PxStat NA008

Figure 8.1 shows the relative contributions of each of the components of expenditure. Net Exports was the largest component of expenditure in 2025 growing to a level of €239.1 billion in the year. Total Exports increased by 7.5%, while Total Imports increased by 9.6%. Personal Consumption grew by 2.6% in 2025 to €163.3 billion. Fixed capital formation increased to €141.5 billion while government net current expenditure rose by 3.2%.

	Exports of Goods	Exports of Services	Imports of Goods	Imports of Services	Net Exports of Goods & Services
2017	186.169592399798	281.3448015572	-99.1853009719493	-280.213345791279	95.5326819030678
2018	202.227994759208	284.461044569435	-110.465108163707	-260.287267743683	129.250986114488
2019	216.801009249398	326.671927353902	-120.571075454662	-402.967252771826	19.3978420647557
2020	251.27178588805	364.128028864504	-117.547270473744	-407.060020779271	90.3769557461137
2021	297.583368817927	395.927279428288	-122.591913312316	-353.991139068289	217.579150128926
2022	358.423051917007	415.279508388398	-152.72754276915	-394.748867290989	229.228805256388
2023	310.344436411254	437.275414101192	-152.118884243047	-411.158512063978	184.034435172796
2024	330.3933174514	494.163162614	-153.3219400478	-437.3158728528	233.9186671648
2025	381.243785912028	505.320197634249	-169.725735549174	-477.698771070105	239.139476926998

Goods Exports increased by 15.4% in real terms in 2025, while Services Exports rose by 2.3%. Goods Imports increased by 10.7% in the year, while Services Imports rose by 9.2%. Net Exports of Goods grew to a level of €221.5 billion in the year, while Net Exports of Services recorded a surplus of €27.6 billion in the year. Overall Net Exports of Goods & Services amounted to €239.1 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	2020	2021	2022	2023	2024	2025¹
79. Personal consumption of goods and services	P.3	101,664	113,790	134,807	150,922	159,231	166,221
of which:
79(a) Final consumption expenditure of households and NPISHs		94,303	105,708	125,818	140,342	148,062	154,416
79(b) Final consumption expenditure of government		7,361	8,083	8,989	10,580	11,169	11,805
80. Net expenditure by central and local government on current goods and services	P.3	40,667	44,429	48,125	52,948	57,516	61,442
81. Gross domestic fixed capital formation	P.51	158,415	99,471	112,736	131,595	102,251	145,261
82. Value of physical changes in stocks and net acquisitions of valuables	P.52 & P.53	4,594	4,282	9,059	9,283	6,453	1,199
83. Exports of goods and services²	P.6	533,702	611,669	726,434	717,419	824,556	884,754
84. Imports of goods and services²	P.7	-454,137	-424,385	-511,603	-544,035	-590,638	-658,740
85. Statistical discrepancy (equals Item 12, Table 3.1)		-4,204	-787	3,692	2,660	2,571	2,304
86. Gross domestic product at current market prices	B.1*g	380,701	448,469	523,248	520,792	561,940	602,441
87. Net factor income from the rest of the world	D.1 & D.4	-103,801	-128,946	-165,125	-126,625	-134,183	-173,001
	(net to abroad)
88. Gross national product at current market prices		276,900	319,523	358,124	394,167	427,757	429,440
89. EU subsidies	D.3	1,191	1,177	1,199	1,128	1,230	1,187
90. EU taxes	D.2	-410	-735	-876	-884	-589	-615
91. Gross national income at current market prices	B.5*g	277,681	319,965	358,447	394,411	428,399	430,012
91.1 minus Provision for depreciation		-109,385	-115,829	-126,032	-133,427	-138,963	-126,237
91.2 Net National Income at current market prices	B.5*n	168,296	204,136	232,414	260,984	289,435	303,775
¹Preliminary
²Excluding factor income flows

Open in Excel: Annual National Accounts 2025 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 2024)

Table 8.3 Expenditure on Gross and Net National Income at Constant Market Prices (chain linked annually and referenced to year 2024)³							€ million
Description	ESA Code	2020	2021	2022	2023	2024	2025¹
92. Personal consumption of goods and services	P.3	123,206	134,389	148,980	155,435	159,231	163,350
of which:
92(a). Final consumption expenditure of households and NPISHs		115,524	126,095	139,755	144,660	148,062	151,775
92(b). Final consumption expenditure of government		7,738	8,367	9,302	10,777	11,169	11,574
93. Net expenditure by central and local government on current goods and services	P.3	48,259	51,458	52,625	54,794	57,516	59,348
94. Gross domestic fixed capital formation	P.51	194,750	117,381	123,336	137,422	102,251	141,529
95. Value of physical changes in stocks and net acquisitions of valuables	P.52 & P.53	4,610	4,396	8,646	9,025	6,453	1,375
96. Exports of goods and services²	P.6	613,842	694,510	778,030	748,142	824,556	886,564
97. Imports of goods and services²	P.7	-524,976	-476,599	-547,946	-563,422	-590,638	-647,425
98. Statistical discrepancy (equals item 66, Table 3.6)		..	..	..	..	2,571	1,988
99. Gross domestic product at constant market prices	B.1*g	444,879	518,534	560,837	542,298	561,940	606,730
100. Net factor income from the rest of the world	D.1 & D.4	-119,380	-146,832	-180,574	-132,399	-134,183	-174,905
	(net to abroad)
101. Gross national product at constant market prices		327,040	373,292	381,418	409,914	427,757	431,825
102. EU subsidies	D.3	1,521	1,439	1,321	1,154	1,230	1,151
103. EU Taxes	D.2	-490	-859	-951	-903	-589	-602
104. Gross national income at constant market prices	B.5*g	328,032	373,854	381,776	410,159	428,399	432,374
104.1 Provision for depreciation	P.51c	-122,808	-129,356	-133,511	-137,343	-138,963	-124,955
104.2 Net national income at constant market prices	B.5*n	204,457	244,494	248,158	272,750	289,435	307,420
¹Preliminary
²Excluding factor income flows
³Chain linked series not additive except for 2024 and 2025
.. Statistical discrepancy only reported for years in which additivity holds

Open in Excel: Annual National Accounts 2025 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 8.5 Annual Breakdown of Trade into Goods and Services at Current and Constant Prices							€ million
Description	ESA Code	2020	2021	2022	2023	2024	2025¹
Trade at current prices
83. Exports of goods and services²	P.6	533,702	611,669	726,434	717,419	824,556	884,754
of which Exports of goods	P.61	242,610	280,656	354,786	306,245	330,393	367,441
of which Exports of services	P.62	291,092	331,013	371,648	411,174	494,163	517,313

84. Imports of goods and services²	P.7	-454,137	-424,385	-511,603	-544,035	-590,638	-658,740
of which Imports of goods	P.71	-100,166	-112,240	-149,652	-149,559	-153,322	-169,649
of which Imports of services	P.72	-353,971	-312,144	-361,951	-394,477	-437,316	-489,092

Net Exports of goods and services²	P.6 minus P.7	79,565	187,284	214,831	173,384	233,919	226,013
of which Net Exports of goods	P.61 minus P.71	142,444	168,415	205,133	156,686	177,071	197,792
of which Net Exports of services	P.62 minus P.72	-62,879	18,869	9,697	16,697	56,847	28,221

Trade at constant prices (chain linked annually and referenced to year 2024)³
96. Exports of goods and services²	P.6	613,842	694,510	778,030	748,142	824,556	886,564
of which Exports of goods	P.61	251,272	297,583	358,423	310,344	330,393	381,244
of which Exports of services	P.62	364,128	395,927	415,280	437,275	494,163	505,320

97. Imports of goods and services²	P.7	-524,976	-476,599	-547,946	-563,422	-590,638	-647,425
of which Imports of goods	P.71	-117,547	-122,592	-152,728	-152,119	-153,322	-169,726
of which Imports of services	P.72	-407,060	-353,991	-394,749	-411,159	-437,316	-477,699

Net Exports of goods and services²	P.6 minus P.7	90,377	217,579	229,229	184,034	233,919	239,139
of which Net Exports of goods	P.61 minus P.71	135,900	174,460	205,317	158,281	177,071	211,518
of which Net Exports of services	P.62 minus P.72	2,181,641	-301,505	14,239	21,050	56,847	27,621
¹Preliminary
²Excluding factor income flows
³Chain linked series not additive except for 2024 and 2025

Open in Excel: Annual National Accounts 2025 Table 8.5 (XLS 24KB)

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Visit Table NA008 on PxStat

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	2020-2025	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
Personal consumption of goods and services	P.3	10.3	11.9	18.5	12.0	5.5	4.4
Net expenditure by central and local government on current goods and services	P.3	8.6	9.3	8.3	10.0	8.6	6.8
Gross domestic physical capital formation	P.5	-2.1	-36.4	17.4	15.7	-22.8	34.7
of which
Gross domestic fixed capital formation	P.51	-1.7	-37.2	13.3	16.7	-22.3	42.1
Exports of goods and services	P.6	10.6	14.6	18.8	-1.2	14.9	7.3
Imports of goods and services	P.7	7.7	-6.6	20.6	6.3	8.6	11.5
Gross domestic product at current market prices	B.1*g	9.6	17.8	16.7	-0.5	7.9	7.2
Gross national product at current market prices		9.2	15.4	12.1	10.1	8.5	0.4
Gross national income at current market prices	B.5*g	9.1	15.2	12.0	10.0	8.6	0.4
Net national income at current market prices	B.5*n	12.5	21.3	13.8	12.3	10.9	5.0

Annual National Accounts 2025

GDP by Expenditures

GDP by Expenditures

Personal Consumption increases by 2.6%

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