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Table 3.1 below compares the non-financial transactions of the total economy in Q4 2025 with those of Q4 2024.
GDP was €153bn in 2025 Q4, in current prices not seasonally adjusted. This is €1.9bn (1%) higher than Q4 2024. Gross operating surplus (GOS, B2A3G) increased by €1.3bn (1%) while compensation of employees (COE) was almost flat.
As we saw in the previous chapter, a large part of the additional value added in Q4 2025 was in the ICT sector, 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 multinationals, GNI (B.5g) was €115.8bn, up €7.2bn (7%) on the €108.6bn seen in Q4 2024.
The consumption of goods and services by households and government (P.3) was €62bn, an increase of €2.8bn (5%) compared to the fourth quarter of 2024. This resulted in an 11% increase in gross saving (B.8g) to €53.6bn.
Capital investment (P.5) was up €10.7bn to €40.8bn, which should increase the value added here in future quarters. The statistical discrepancy is included in P.5. In aggregate, net lending (B.9) was €12.6bn, down €5.4bn from Q4 2024.
Table 3.2 below compares the non-financial transactions of the total economy in 2025 with 2024.
Nominal GDP was €639bn in 2025. This is €76bn (13%) higher than 2024. Gross operating surplus (GOS, B2A3G) increased by €66bn (18%) while compensation of employees (COE) grew by €8bn (5%).
A large part of the additional value added in 2025 was in the industry and ICT sectors, which are 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 multinationals, GNI (B.5g) was €438bn, up €15bn (4%) on the €423bn seen in 2024.
The consumption of goods and services by households and government (P.3) was €233bn, an increase of €11bn (5%) compared to 2024. This resulted in a €5bn (2%) increase in gross saving (B.8g) to €201bn.
Capital investment (P.5) was up €44bn to €149bn, which should increase the value added here in future quarters. The statistical discrepancy is included in P.5. In aggregate, net lending (B.9) was €45bn, down €43bn from 2024.
Table 3.3 below compares Ireland's transactions with the rest of the world in Q4 2025 to Q4 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 €1.9bn compared to Q4 2024, largely driven by higher value added by the ICT sector rather than industrial non-financial corporations. In Table 3.3 we can see an €8.3bn decrease in exports of pharmaceuticals, contributing to the €4.4bn overall decrease in exports of goods (P.61). This was countered by a €10.2bn increase in the exports of services (P.62) leading to a total €5.9bn increase in exports.
There was a €17.4bn increase in imports in Q4 2025 compared to Q4 2024. This was almost equally due to an increase in imports of both goods and services. Along with an €8.4bn increase in the imports of goods, there was a €9bn increase in the import of services (P.72), in part due to a €3bn 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 down €11.5bn (-19%) from the fourth quarter of 2024 to €50.3bn.
Net investment income (D.4) outflow decreased by €5.3bn (-13%) from €42.6bn to €37.3bn. Taking all current transfers together, the Current Account Balance (B.12) was €12.8bn in Q4 2025 down 29% from €18.2bn in Q4 2024.
Table 3.4 below compares Ireland's transactions with the rest of the world in 2025 to 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 €76bn compared to 2024, largely driven by higher value added by the industrial and ICT sectors. In Table 3.4 we can see a €38.5bn increase in exports of pharmaceuticals, contributing to the €67bn overall increase in exports of goods (P.61). There was a €17bn increase in the exports of services (P.62) leading to a total €84bn increase in exports.
There was a €63bn increase in imports in 2025 compared to 2024. This was largely due to an increase in imports of services (€50.6bn). This was in part due to a €20bn increase in the imports of royalties. Such royalty imports, along with the increase in investment (P.5) seen in Table 3.2 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 €21bn (9%) from 2024 to €257bn.
Net investment income (D.4) outflow increased by €61bn (43%) from €140bn to €201bn. Taking all current transfers together, the Current Account Balance (B.12) was €52n in 2025 down 43% from €91bn in 2024.
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