Table 3.1 below compares the non-financial transactions of the total economy in Q3 2025 with those of Q3 2024.
GDP was €159bn in 2025 Q3, in current prices not seasonally adjusted. This is €15.5bn (11%) higher than Q3 2024. Gross operating surplus (GOS, B2A3G) increased by €13bn (13%) while compensation of employees (COE) grew by €2.5bn (7%).
As we saw in the previous chapter, a large part of the additional value added in 2025 Q3 was in Industry, which is dominated by foreign-owned multinational corporations. Therefore most of the additional GDP flowed out of the Irish economy. After accounting for the international flows of investment income, including outflows of profits by foreign multi-nationals, GNI (B.5g) was €112.5bn, up €2.8bn (3%) on the €109.7bn seen in Q3 2024.
The consumption of goods and services by households and government (P.3) was €57.5bn, an increase of €2.4bn (4%) compared to the third quarter of 2024. This left gross saving (B.8g) almost unchanged at €53.9bn.
Capital investment (P.5) was up €5.8bn to €40bn, which should increase the value added here in future quarters. The statistical discrepancy is included in P.5. Investment in non-produced non-financial assets was up €1.5bn. In aggregate this resulted in net lending (B.9) of €12bn, down €7.3bn from Q3 2024.
Table 3.2 below compares Ireland's transactions with the rest of the world in Q3 2025 to Q3 2024.
This is set out from the point of view of Ireland. That is, income received by Ireland from the rest of the world is shown as a positive. The Pxstat tables show these transactions from the point of view of Rest of the World (S.2): for example, income Ireland pays to the rest of the world is a resource of the rest of the world.
As we saw above, GDP (B.1G) was up by €15.5bn compared to Q3 2024, largely driven by higher value added by industrial non-financial corporations. In Table 3.2 we can see a €6bn growth in exports of pharmaceuticals and a €4bn growth in goods for processing exports, out of the €17.5bn overall increase in exports of goods (P.61). There was a €13bn increase in the import of services (P.72), in part due to a €5.6bn increase in the imports of royalties. Such royalty imports, along with the increase in investment (P.5) seen in Table 3.1 are generally associated with long-term production activities. After accounting for these additional imports, net exports of goods and services (exports minus imports, B.11) was up €7bn (13%) from the third quarter of 2024 to €61.5bn.
The additional economic activity among the foreign-controlled non-financial corporations led to higher gross operating surplus (B.2A3G) for these companies, which produced greater investment flowing out of the country. Net investment income (D.4) outflow increased by €12.7bn (38%) from €33.8bn to €46.4bn, which mirrored the €12.9bn increase in profits (B.2A3G) seen in Table 3.1. Taking all current transfers together, the Current Account Balance (B.12) was €13.9bn in Q3 2025 down 29% from €19.7bn in Q3 2024.
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