GNI*, a key deglobalised measure of Ireland’s economic performance, expanded by 4.7% in 2025.
Personal spending on goods and services, a key measure of domestic economic activity, increased by 2.6% in 2025.
Modified Domestic Demand (MDD), a broad measure of underlying domestic activity that covers personal, government and investment spending, rose by 4.7% in 2025.
Multinational-dominated sectors expanded by 14.5% in 2025, driving an increase in Gross Domestic Product (GDP) of 8.0% in the year, with domestic sectors increasing by 2.2%.
Total exports grew by 7.5% in 2025 driven by an increase in goods exports of 15.4% while total imports grew by 9.6%.
The GDP deflator, a key indicator of average prices across the economy, recorded a 0.7% decrease in 2025, compared to a 4.1% increase posted in 2024.
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Statistician's Comment
The Central Statistics Office (CSO) has today (02 July 2026) published the Annual National Accounts (ANA) results for the year 2025.
Assistant Director General with responsibility for National Accounts & Price Statistics, Chris Sibley, commented:
"In the Annual National Accounts results published today, Gross Domestic Product (GDP) is estimated to have grown by 8.0% in 2025, driven by an increase of 14.5% in multinational-dominated sectors. Gross National Product (GNP), a measure of economic activity that excludes the profits of multinationals, grew by 1.0% in the year.
The globalised Industry (excl. Construction) sector rose by 11.9% compared with 2024 while the Information & Communication sector increased by 14.8% in 2025. Overall, the multinational sector expanded by 14.5% in 2025 and accounted for 50.4% of total value added in the economy.
There were higher levels of economic activity across most sectors focused on the domestic market in 2025 including the Construction sector which expanded by 7.2%, Real Estate Activities which increased by 4.9%, and Agriculture, Forestry & Fishing which grew by 3.6%.
Looking at expenditure in the economy, personal spending on goods and services (the PCE indicator) rose by 2.6% in 2025, while Government spending on goods and services increased by 3.2% in the year. Export growth of 7.5% was recorded while imports grew by 9.6% which meant net exports went up by 2.2%. Capital investment increased by 31.5% reflecting higher levels of investment in Intangible Assets.”
Commenting on the impact of globalisation and the indicators of underlying domestic activity, Chris Sibley said:
“Today’s results include estimates for GNI*, the indicator designed to exclude globalisation effects disproportionately impacting Irish economic results. In constant prices, GNI* expanded by 4.7% in 2025. Today’s results show the transition in current prices from a GDP level of €602.4 billion in 2025 to a GNI* level of €334.0 billion.
Net National Income (NNI), an important internationally comparable indicator of underlying or deglobalised activity from the National Accounts framework that closely mirrors the GNI* series, stood at €303.8 billion in current prices in 2025. Between 2024 and 2025, NNI at constant prices rose by 6.2%.
Modified Domestic Demand (MDD) – a modified measure of personal, government and investment spending – increased by 4.7% in 2025. MDD is an important measure of underlying demand and excludes the globalisation effects of trade in intellectual property products (IPP) and trade in aircraft by leasing companies from the standard Final Domestic Demand measure."
More commentary is available in the Press Statement also issued today. This includes commentary on the updated Quarterly National Accounts and International Accounts for Quarter 1 2026 which are also published today.