Household saving increased from €22bn in 2023 to €25bn in 2024.
Income and expenditure both rose, with income rising faster than expenditure.
The household saving rate was 14.2% in 2024 up from 13.6% in 2023.
Income rose due to increased income from work, but also higher investment income on households' half a trillion euro in financial assets.
The government surplus was €24bn in 2024 including €5bn in Q4 2024.
For the economy as a whole, Gross Domestic Product (GDP), Gross National Income (GNI) and the current account balance all rose compared with 2023 (current prices).
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Statistician's Comment
The Central Statistics Office (CSO) has today (11 April 2025) published the Institutional Sector Accounts Non-Financial for Quarter 4 (Q4) 2024 and annual 2024 preliminary.
Commenting on the release, Peter Culhane, Statistician in the National Accounts Analysis & Globalisation Division of the CSO, said:
"Gross saving of households was €25bn in 2024, up from €22bn in 2023. Of this €25bn, €16bn was invested in fixed assets (mainly new homes), with the remainder invested in financial assets (such as deposits, pension funds) and reducing financial liabilities (such as mortgage borrowing).
The saving rate, which is the proportion of income that is left over after current consumption was 14.2%, up from 13.6% in 2023. 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 and more investment income, such as deposit interest.
The economic indicators for the economy as a whole were positive: GDP was 5% higher (in current prices), and GNI was up 4%.
The government surplus was €24bn in 2024 including €5bn in Q4. Total Government tax receipts were €103bn in the year, of which €31bn came in the last quarter."