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The seasonally adjusted household saving rate was 13.4% in January, February and March (Q1) 2025.
The seasonally adjusted saving rate was the same as the last three months of 2024, as both income and expenditure increased.
The household saving rate was 14.2% in 2024 up from 13.6% in 2023.
The government surplus was €0.8bn in 2025 Q1. This is only the second time since 2007 there has been a surplus in Q1: there is normally a deficit in the first quarter of the year.
For the economy as a whole, Gross Domestic Product (GDP) grew significantly on the back of higher pharmaceutical exports.
Most of the additional value added in the quarter flowed out of the domestic economy to corporations' owners abroad.
The current account balance was positive in the quarter (€6bn), but was lower than in the equivalent quarter of 2024.
The lower current account balance was in part due to higher capital investment (€38bn, an increase of €11bn on the first quarter of 2024). This capital investment should increase the value added here in future quarters.
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Statistician's Comment
The Central Statistics Office (CSO) has today (31 July 2025) published the Institutional Sector Accounts Non-Financial for Quarter 1 (Q1) 2025.
Commenting on the release, Peter Culhane, Statistician in the National Accounts Analysis & Globalisation Division of the CSO, said:
The saving rate of households, which is the proportion of income that is left over after current consumption was 13.4% in the first quarter of the year This was the same as the previous quarter (seasonally adjusted), and in line with the average in recent years. Higher volumes as well as higher prices contributed to consumer spending increases in the year. Meanwhile overall household income rose due to higher earnings from work. As both incomes and expenditure have been rising, the saving rate has been broadly stable.
The economic indicators for the economy as a whole were positive: GNI was up 2% in current prices on the first quarter of 2025. GDP increased by 26%, but most of this additional value added flowed out to owners abroad, leaving the smaller increase in GNI.
The government surplus was €0.8bn in 2025 Q1. This is only the second time since 2007 there has been a surplus in Q1: there is normally a deficit in the first quarter of the year. "