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Annual National Accounts 2025

GDP by Incomes

Net Operating Surplus represents 49% of GVA

Online ISSN: 2811-5724

CSO statistical release, 02 July 2026, 11am

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 2025. Net Operating Surplus and Net Mixed Income represented 48.8% of GVA in the year, Consumption of Fixed Capital 22.0% with Compensation of Employees accounting for 28.8%.

	2025
Compensation of Employees	28.8011993086678
Net Operating surplus	48.7649362619963
Consumption of Fixed Capital	22.0138638616294

	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
2025	191.2467095801	129.5702097623	66.4415115938	54.0880518394	53.0601270773	32.2454053373	23.454762035	15.8006956168	6.1704646496	6.0029743117

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Figure 3.2 above shows GVA at constant prices by activity. In 2025, GVA of €191.2 billion was generated in Industry (excl. Construction) followed by €129.6 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
2024-2025	3.59769904062275	11.8967651342448	7.17625409195444	2.11767545357566	14.78479457903	-0.00937860624369291	4.90361472727028	1.9114668641705	2.00653582713917	0.327952326866132

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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 14.5% in 2025. Industry (excluding Construction) rose by 11.9% while Information & Communication grew by 14.8%. Most sectors focused on the domestic market expanded with the largest increases seen in Construction which increased by 7.2% and Real Estate activities which rose by 4.9%.

The Domestic Trading Profits of non-agricultural companies, which represents 54.3% of overall economy Net Value Added at Factor Cost, expanded by 20.8% in 2025 compared with 2024. Remuneration of non-agricultural employees grew by 4.3% in the year. After accounting for factor incomes from the rest of the world, overall Net National Product at Factor Cost increased by 4.9% 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 5.0%.

Table 3.1 Net Value Added at Factor Cost and Net National Income at Market Prices

Table 3.1 Net Value Added at Factor Cost and Net National Income at Market Prices							€ million
Description	ESA Code	2020	2021	2022	2023	2024	2025¹
Value added from agriculture, forestry and fishing	(B.1n-D.29+D.39)	4,317	4,874	6,135	4,227	5,716	7,172
1. Income from self-employment and other trading income	B.3n	3,293	3,764	4,943	2,975	4,307	5,600
Remuneration of employees:	D.1
2. Wages and salaries	D.11	865	943	1,016	1,057	1,178	1,347
3. Employers' social contribution	D.12	159	166	176	195	231	228
Non-agricultural value added	(B.1n-D.29+D.39)	246,595	305,603	367,183	355,646	387,994	437,625
Profits and self employed earnings:
4. Domestic trading profits of companies (including corporate bodies) before tax	B.2n	117,552	168,034	213,188	179,715	198,934	240,276
5. Self employed earnings	B.3n	8,222	9,013	10,607	11,174	11,961	12,620
6. Adjustment for stock appreciation	B.2n	1,907	-3,975	-4,288	3,542	-263	223
7. Rent of dwellings (actual and imputed)	B.2n	13,835	14,142	15,607	18,467	20,503	20,921
of which imputed rent		10,681	10,918	11,974	14,168	15,730	16,051
8. Rent element in land annuities		0	0	0	0	0	0
Remuneration of employees:	D.1
9. Wages and salaries	D.11	88,873	98,873	110,256	118,880	129,897	138,563
10. Employers' social contribution	D.12	16,206	19,515	21,813	23,867	26,962	25,021
Adjustments:
12. Statistical discrepancy		4,204	787	-3,692	-2,660	-2,571	-2,304
13. Net value added at factor cost	(B.1n-D.29+D.39)	255,117	311,265	369,626	357,212	391,140	442,494
14. 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)
15. Net national product at factor cost		151,316	182,319	204,501	230,587	256,957	269,493
16. National (i.e. non EU) taxes	D.2	23,743	29,445	31,611	33,271	35,752	37,603
17. National (i.e. non EU) subsidies	D.3	-6,762	-7,627	-3,697	-2,874	-3,274	-3,321
18. Net national income at market prices	B.5*n	168,296	204,136	232,414	260,984	289,435	303,775
¹Preliminary

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Table 3.2 Annual Percentage Changes in the Main Constituents of Table 3.1

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 2025 compared with 2024. 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 26.8% with Information & Communication NVA rising by 16.9%. Growth was recorded across most domestic facing sectors with the largest increases seen in Professional, Administration & Support Services which increased by 7.4% in the year and Construction which increased by 7.1%. The only sector to post a NVA decline was Financial & Insurance Activities which fell by 6.7% over the period compared with 2024.

Table 3.3 Net Value Added at Factor Cost and Depreciation by Sector of Origin and Gross Value Added at Basic Prices

Table 3.3 Net Value Added at Factor Cost and Depreciation by Sector of Origin and Gross Value Added at Basic Prices²
							€ million
Description	ESA Code	2020	2021	2022	2023	2024	2025¹
24.1 Agriculture forestry and fishing
Net value added	(B.1n-D.29+D.39)	4,317	4,874	6,135	4,227	5,716	7,172
Remuneration of employees	D.1	1,024	1,110	1,192	1,252	1,409	1,574
Other	(B.2n & B.3n)	3,294	3,765	4,943	2,975	4,307	5,598
24.2 Industry (excluding construction)
Net value added	(B.1n-D.29+D.39)	80,574	106,462	142,031	101,083	104,638	132,678
Remuneration of employees	D.1	14,697	16,228	17,823	19,138	21,112	22,020
Other	(B.2n & B.3n)	64,648	93,112	127,766	77,899	83,909	110,013
Adjustment for stock appreciation	(B.2n & B.3n)	1,229	-2,878	-3,558	4,046	-383	646
24.3 of which: Manufacturing
Net value added	(B.1n-D.29+D.39)	78,144	102,995	138,588	96,145	101,095	128,729
Remuneration of employees	D.1	13,109	14,545	15,977	17,127	18,865	19,530
Other	(B.2n & B.3n)	63,963	91,082	126,164	75,106	82,569	108,573
Adjustment for stock appreciation	(B.2n & B.3n)	1,072	-2,632	-3,553	3,912	-339	626
24.4 Construction
Net value added	(B.1n-D.29+D.39)	8,483	10,120	12,078	13,412	14,228	15,240
Remuneration of employees	D.1	4,651	5,652	6,614	7,216	8,140	8,567
Other	(B.2n & B.3n)	3,831	4,468	5,464	6,196	6,088	6,673
24.5 Distribution, transport, hotels and restaurants
Net value added	(B.1n-D.29+D.39)	29,731	34,949	42,535	46,601	47,314	48,338
Remuneration of employees	D.1	18,685	21,506	24,962	26,903	29,552	30,280
Other	(B.2n & B.3n)	10,368	14,540	18,303	20,201	17,642	18,481
Adjustment for stock appreciation	(B.2n & B.3n)	678	-1,097	-730	-503	120	-423
24.6. Information and communication
Net value added	(B.1n-D.29+D.39)	37,961	52,557	58,807	69,173	83,989	98,166
Remuneration of employees	D.1	9,672	11,732	13,083	14,425	15,611	16,083
Other	(B.2n & B.3n)	28,289	40,825	45,724	54,748	68,378	82,083
24.7 Financial and insurance activities
Net value added	(B.1n-D.29+D.39)	12,741	17,778	14,889	19,782	20,423	19,058
Remuneration of employees	D.1	8,805	9,495	9,736	10,620	11,262	11,822
Other	(B.2n & B.3n)	3,936	8,284	5,153	9,162	9,161	7,236
24.8 Real estate activities
Net value added	(B.1n-D.29+D.39)	13,365	14,136	16,053	16,731	19,428	20,026
Remuneration of employees	D.1	963	997	1,169	1,261	1,380	1,422
Other	(B.2n & B.3n)	12,402	13,140	14,884	15,471	18,048	18,604
24.9 Professional, admin and support services
Net value added	(B.1n-D.29+D.39)	28,024	29,701	37,100	42,128	46,193	49,590
Remuneration of employees	D.1	14,981	16,933	19,479	21,154	23,138	24,107
Other	(B.2n & B.3n)	13,043	12,767	17,621	20,974	23,055	25,483
24.10 Public admin, education and health
Net value added	(B.1n-D.29+D.39)	32,199	35,622	38,513	41,455	46,360	48,962
Remuneration of employees	D.1	30,629	33,562	36,401	39,078	43,362	45,826
Other	(B.2n & B.3n)	1,570	2,060	2,112	2,376	2,998	3,136
24.11 Arts, entertainment and other services
Net value added	(B.1n-D.29+D.39)	3,517	4,278	5,176	5,281	5,422	5,566
Remuneration of employees	D.1	1,996	2,284	2,802	2,952	3,302	3,458
Other	(B.2n & B.3n)	1,522	1,994	2,374	2,329	2,121	2,108
26. Statistical discrepancy (equals Item 12, Table 3.1)		4,204	787	-3,692	-2,660	-2,571	-2,304
27. Net value added at factor cost	B.1n-D.29+D.39	255,117	311,265	369,626	357,212	391,140	442,494
28. plus Provision for depreciation	P.51c	109,385	115,829	126,032	133,427	138,963	126,237
28.1 Agriculture, forestry and fishing	P.51c	1,032	1,129	1,240	1,291	1,334	1,340
28.2 Industry (excluding construction)	P.51c	51,902	52,822	57,940	61,207	65,249	50,484
28.3 of which Manufacturing	P.51c	49,866	50,610	55,469	58,576	62,458	47,522
28.4 Construction	P.51c	345	383	425	456	479	461
28.5 Distribution, transport, hotels and restaurants	P.51c	4,376	4,401	4,621	4,805	4,939	5,112
28.6 Information and communication	P.51c	22,894	26,768	28,525	29,760	28,690	29,358
28.7 Financial and insurance activities	P.51c	1,874	2,071	2,300	2,329	2,366	2,413
28.8 Real estate activities	P.51c	6,635	7,407	8,842	9,872	10,564	11,501
28.9 Professional, admin and support services	P.51c	15,703	15,770	16,509	17,752	19,003	18,975
28.10 Public admin, education and health	P.51c	4,130	4,563	5,044	5,329	5,685	5,889
28.11 Arts, entertainment and other services	P.51c	492	517	586	626	653	703
29. Gross value added at factor cost	B.1g-D.29+D.39	364,501	427,094	495,658	490,640	530,103	568,731
30. Non product taxes	D.29	3,019	3,812	4,091	4,431	4,627	4,998
31. Non product subsidies	D.39	-6,637	-7,325	-3,192	-2,157	-2,404	-2,590
32. Gross value added at basic prices	B.1g	360,882	423,581	496,557	492,913	532,326	571,139
¹Preliminary
²Note the sectors here are based on NACE Rev. 2 A10. For further details see the methodology notes

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Gross Value Added at Current Basic Prices across the 10 main economic sectors recorded an increase of 7.3% in 2025 compared with 2024. For the Multinational dominated sectors, Industry (excluding Construction) GVA expanded by 7.9% with Information & Communication GVA rising by 13.2%. Most domestic facing sectors recorded growth with the largest increase seen in Agriculture, Forestry & Fishing GVA which increased strongly by 25.3% while Financial & Insurance Activities GVA contracted by 6.6% over the period, the only sector to record a decline in year 2025.

Table 3.4 Gross Value Added at Basic Prices by Sector of Origin and Gross and Net National Income at Current Market Prices

Table 3.4 Gross Value Added at Basic Prices by Sector of Origin and Gross and Net National Income at Current Market Prices²
							€ million
Description	ESA Code	2020	2021	2022	2023	2024	2025¹
46.1 Agriculture, forestry and fishing	B.1g	3,908	4,593	6,080	4,348	5,795	7,259
46.2 Industry (excluding construction)	B.1g	132,457	159,713	200,796	163,444	170,959	184,480
46.3 of which: Manufacturing	B.1g	127,845	153,632	194,468	155,195	164,057	176,835
46.4 Construction	B.1g	8,492	10,143	12,505	13,902	14,743	15,738
46.5 Distribution, transport, hotels and restaurants	B.1g	32,726	37,496	47,283	52,083	52,966	54,244
46.6 Information and communication	B.1g	60,830	79,357	87,494	99,130	112,881	127,750
46.7 Financial and insurance activities	B.1g	15,055	20,430	17,855	22,718	23,457	21,907
46.8 Real estate activities	B.1g	20,502	22,148	25,538	27,315	30,734	32,368
46.9 Professional, admin and support services	B.1g	43,024	44,839	53,515	59,892	65,195	68,533
46.10 Public administration, education and health	B.1g	35,887	39,606	43,430	46,764	52,016	54,815
46.11 Arts, entertainment and other services	B.1g	3,796	4,468	5,752	5,979	6,150	6,350
47. Statistical discrepancy (equals Item 12, Table 3.1)		4,204	787	-3,692	-2,660	-2,571	-2,304
51. Gross value added at basic prices	B.1g	360,882	423,581	496,557	492,913	532,326	571,139
52. Product taxes	D.21	21,134	26,367	28,396	29,724	31,713	33,220
53. Product subsidies	D.31	-1,316	-1,479	-1,704	-1,845	-2,099	-1,919
54. Gross domestic product at current market prices	B.1*g	380,701	448,469	523,248	520,792	561,940	602,441
55. 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)
56. Gross national product at current market prices		276,900	319,523	358,124	394,167	427,757	429,440
57. EU subsidies	D.3	1,191	1,177	1,199	1,128	1,230	1,187
58. EU taxes	D.2	-410	-735	-876	-884	-589	-615
59. Gross national income at current market prices	B.5*g	277,681	319,965	358,447	394,411	428,399	430,012
60. minus Provision for depreciation	P.51c	-109,385	-115,829	-126,032	-133,427	-138,963	-126,237
61. Net National Income at current market prices	B.5*n	168,296	204,136	232,414	260,984	289,435	303,775
¹Preliminary
²Note the sectors here are based on NACE Rev. 2 A10 breakdown. For further details see the methodology notes

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Table 3.5 Annual Percentage Change in the Main Constituents of Table 3.4

Gross Value Added at Constant Basic Prices or Real GVA across the 10 principal high level economic sectors recorded an 8.2% expansion overall in 2025 compared to 2024. For the Multinational dominated sectors, Industry (excluding Construction) GVA rose by 11.9% while Information & Communication GVA grew by 14.8%. Of the domestic facing sectors, the largest increase was recorded in Construction which increased by 7.2%. All other sectors increased except for Financial & Insurance Activities GVA which was flat.

Table 3.6 Gross Value Added at Constant Basic Prices by Sector of Origin and Gross and Net National Income at Constant Market Prices (chain linked annually and referenced to year 2024)

Table 3.6 Gross Value Added at Constant Basic Prices by Sector of Origin and Gross and Net National Income at Constant Market Prices ² (chain linked annually and referenced to year 2024)³
							€ million
Description	ESA Code	2020	2021	2022	2023	2024	2025¹
65.1 Agriculture, forestry and fishing	B.1g	4,555	4,747	5,225	5,711	5,795	6,003
65.2 Industry (excluding construction)	B.1g	145,169	178,961	206,910	170,132	170,959	191,247
65.3 of which: Manufacturing	B.1g	139,360	173,757	203,259	163,008	164,057	183,985
65.4 Construction	B.1g	12,788	13,633	14,410	14,629	14,743	15,801
65.5 Distribution, transport, hotels and restaurants	B.1g	41,230	46,635	50,767	53,112	52,966	54,088
65.6 Information and communication	B.1g	69,125	86,192	92,736	104,174	112,881	129,570
65.7 Financial and insurance activities	B.1g	15,988	20,825	18,097	20,070	23,457	23,455
65.8 Real estate activities	B.1g	24,506	27,525	28,743	28,993	30,734	32,245
65.9 Professional, admin and support services	B.1g	52,855	53,236	57,496	62,385	65,195	66,442
65.10 Public administration, education and health	B.1g	41,906	44,510	47,232	49,525	52,016	53,060
65.11 Arts, entertainment and other services	B.1g	4,406	4,788	5,907	6,173	6,150	6,170
66. Statistical discrepancy		386	178	-727	-1,508	-2,571	-1,988
70. Gross value added at constant basic prices	B.1g	421,158	489,484	531,869	513,837	532,326	576,093
71. Product taxes	D.21	25,290	30,808	30,817	30,349	31,713	32,513
72. Product subsidies	D.31	-1,581	-1,736	-1,853	-1,885	-2,099	-1,876
73. Gross domestic product at constant market prices	B.1*g	444,879	518,534	560,837	542,298	561,940	606,730
74. 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)
75. Gross national product at constant market prices		327,040	373,292	381,418	409,914	427,757	431,825
76. EU subsidies	D.3	1,521	1,439	1,321	1,154	1,230	1,151
77. EU taxes	D.2	-490	-859	-951	-903	-589	-602
78. Gross national income at constant market prices	B.5*g	328,032	373,854	381,776	410,159	428,399	432,374
78.1 Provision for depreciation	P.51c	-122,808	-129,356	-133,511	-137,343	-138,963	-124,955
78.2 Net national income at constant market prices	B.5*n	204,457	244,494	248,158	272,750	289,435	307,420
¹Preliminary
²Note the sectors here are based on NACE Rev. 2 A10 breakdown. For further details see the methodology notes
³Chain linked series not additive except for 2024 and 2025

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Table 3.7 Annual Percentage Changes in the Main Constituents of Table 3.6

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Table 3.2 Annual Percentage Changes in the Main Constituents of Table 3.1							%
Description	ESA Code	2020-2025	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
Value added from agriculture, forestry and fishing	(B.1n-D.29+D.39)	10.7	12.9	25.9	-31.1	35.2	25.5
Income from self-employment and other trading income	B.3n	11.2	14.3	31.3	-39.8	44.8	30.0
Remuneration of employees	D.1	9.0	8.4	7.4	5.0	12.6	11.7
Non-agricultural value added	(B.1n-D.29+D.39)	12.2	23.9	20.2	-3.1	9.1	12.8
Profits etc.¹	B.2n & B.3n	14.1	32.3	25.6	-9.4	8.6	18.6
Remuneration of employees	D.1	9.3	12.7	11.6	8.1	9.9	4.3
Net national product at factor cost		12.2	20.5	12.2	12.8	11.4	4.9
Net national income at market prices	B.5*n	12.5	21.3	13.9	12.3	10.9	5.0
¹i.e. Items 4 to 8 in Table 3.1

Table 3.5 Annual Percentage Change in the Main Constituents of Table 3.4							%
Description	ESA Code	2020-2025	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
Agriculture, forestry and fishing	B.1g	13.2	17.5	32.4	-28.5	33.3	25.3
Industry (excluding construction)	B.1g	6.9	20.6	25.7	-18.6	4.6	7.9
of which: Manufacturing	B.1g	6.7	20.2	26.6	-20.2	5.7	7.8
Construction	B.1g	13.1	19.4	23.3	11.2	6.1	6.8
Distribution, transport, hotels and restaurants	B.1g	10.6	14.6	26.1	10.2	1.7	2.4
Information and communication	B.1g	16.0	30.5	10.3	13.3	13.9	13.2
Financial and insurance activities	B.1g	7.8	35.7	-12.6	27.2	3.3	-6.6
Real estate activities	B.1g	9.6	8.0	15.3	7.0	12.5	5.3
Professional, administration and support services	B.1g	9.8	4.2	19.3	11.9	8.9	5.1
Public administration, education and health	B.1g	8.8	10.4	9.7	7.7	11.2	5.4
Arts, entertainment and other services	B.1g	10.8	17.7	28.7	3.9	2.9	3.2
Gross value added at basic prices	B.1g	9.6	17.4	17.2	-0.7	8.0	7.3
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	13.9	12.3	10.9	5.0

Annual National Accounts 2025

GDP by Incomes

GDP by Incomes

Net Operating Surplus represents 49% of GVA

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