The Regional Accounts 2024 is in line with the timeseries produced by the Annual National Accounts 2024. Revisions to national accounts data as published in Annual National Accounts 2024, have been carried through into these tables, as is the usual practice.
Household income data were first published in 2000 and the publication included a detailed description of the methodology used to estimate the regional values of the income components. Since then, results have been issued on an annual basis. Regional accounts were first published in 1996, they were in respect of 1991 and a full description of the methodology used was included. A further set of accounts in respect of 1993 was published in 1997 with some additional methodological details. Results have been published annually since.
The Regional Accounts classifies economic activities by the NACE Rev.2 classification system, outlined as follows:
| Sector | NACE codes | ||
|---|---|---|---|
| Agriculture, forestry and fishing | Section A | ||
| Industry (excluding Construction) | Sections B,C,D,E | ||
| Of which: Manufacturing | Section C | ||
| Construction | Section F | ||
| Distribution, transport, hotels and restaurants | Sections G,H,I | ||
| Information and communication | Section J | ||
| Financial and insurance activities | Section K | ||
| Real estate activities | Section L | ||
| Professional, admin and support services | Sections M,N | ||
| Public admin, education and health | Sections O,P,Q | ||
| Arts, entertainment and other services | Sections R,S,T | ||
Is calculated in three steps:
Household Primary Income is defined for National Income purposes as follows:
Compensation of employees (i.e. Wages and Salaries, Benefits in kind, Employers’ social insurance contributions)
plus
Income of self-employed
plus
Rent of dwellings (including imputed rent of owner-occupied dwellings)
plus
Net interest and dividends
The last component is a net item, which implies that interest payments by households are deducted in deriving primary income.
Total income is defined as:
Primary income from above
plus
Social benefits
plus
Other current transfers
Disposable income is defined as follows:
Total income
minus
Current taxes on income (e.g. Income taxes, other current taxes)
minus
Social insurance contributions (e.g. Employers, employees’, self-employed, etc.)
The estimates for household income and its components are reported for S.14 Households from 2010 onwards. For years 2000 to 2009, household income and its components are given for S.14 Households plus S.15 Non-Profit Institutions Serving Households (NPISH). The institutional sectors referenced in the present publication are given as:
S.14 Households consists of persons in their capacity as holders of financial assets or as borrowers. The business assets and liabilities of unincorporated self-employed persons are also mainly reflected in this sector. Large autonomous unincorporated enterprises (quasi-corporations) are in principle included in the non-financial corporations' sector.
S.15 Non-Profit Institutions Serving Households consists of non-profit institutions such as charities, churches and sports clubs and non-commercial agencies not owned by the government.
Estimates for the components of household income for Ireland are in alignment with the Institutional Sector Accounts at sector and sub-sector level.
The CSO publishes population estimates annually at regional level but not at county level. County populations for 2003 to 2024 used in this report have been estimated by applying the year to year changes at regional level, following the Censuses of 2006, 2011, 2016 and 2022 to the counties within these regions and are consistent with the national population estimates submitted to Eurostat.
The official level of GDP is taken to be the average of the independently compiled Income and Expenditure estimates. The resulting balancing item, which is half of the difference between the two estimates, is called the Statistical Discrepancy.
Gross Value Added (GVA) at basic prices is a measure of the value of the final goods and services produced in a region (less the materials and services used which come from outside the region) priced at the value which the producers received minus any taxes payable and plus any subsidies receivable as a consequence of their production or sale. GVA differs from household income in three main respects.
(Note: GDP and GVA are the same concept i.e. they measure the value of the goods and services (or part thereof) which are produced within a region or country. GDP is valued at market prices and hence includes taxes charged and excludes the value of subsidies provided. GVA at basic prices on the other hand excludes product taxes and includes product subsidies – see table 5.14).
Value added is firstly calculated at factor cost, which includes all subsidies and excludes all taxes. Conversion to a valuation at basic prices is achieved by subtracting overhead subsidies and adding overhead taxes. Conversion to market prices is then obtained by subtracting product subsidies and adding product taxes (see table 5.14). Most of the tables in this report on GVA are based on GVA at basic prices. However table 5.15a is based on GVA at factor cost. All the results in this release are based on the ESA 2010 system of accounts which came into effect in 2014 and is now in use throughout the European Union.
This publication separates the economy into two distinct sectors: Foreign and Domestic. Foreign enterprises are defined by institutional sector codes and are identified in the microdata as either: foreign-owned non-financial corporations (S.11a) or foreign-owned financial corporations (S.12a). This method differs from the dominant NACE approach, which defines a Foreign-owned Multinational Enterprise (MNE) dominated sector as one where MNE turnover on average exceeds 85% of the sector total.
The regional classifications in this release are based on the NUTS (Nomenclature of Territorial Units) classification used by Eurostat. The regions for which the accounts have been compiled are the eight Regional Authority NUTS3 regions. The Mid East region (Kildare, Meath and Wicklow) and the Dublin region are affected by a substantial proportion of their workforce living in one region and commuting to work in another. It is therefore more meaningful to combine these two regions. The definition of the regions is outlined below. Figures have also been shown for the three overall NUTS2 regions i.e. “Northern and Western” region, “Southern” region and "Eastern and Midland" region.
From (Regional 2016 release) onwards, the new NUTS 2016 classification has been implemented as required under EU directive and the previous NUTS classification (NUTS 2013) will no longer be valid.
| Northern & Western NUTS2 Region | Southern NUTS2 Region | Eastern & Midland NUTS2 Region | |||
|---|---|---|---|---|---|
| Border | Cavan Donegal Leitrim Monaghan Sligo |
Mid-West | Clare Limerick Tipperary |
Dublin | Dublin City Dun Laoghaire-Rathdown Fingal South Dublin |
| South-East | Carlow Kilkenny Waterford Wexford |
Mid-East | Kildare Louth Meath Wicklow |
||
| West | Galway Mayo Roscommon |
South-West | Cork Kerry |
Midland | Laois Longford Offaly Westmeath |
For more information on National Accounts definitions please refer to the Statistics Explained section of our website.
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