Measuring Ireland's Progress 2026

Ireland: Gross Domestic Product, Gross National Income and Modified Gross National Income

• Gross Domestic Product (GDP) at current market prices increased from €272.1bn in 2015 to €602.4bn in 2025 (see Table 2.1).
• Gross National Income (GNI) increased between 2015 and 2025, from €211.4bn to €430.0bn. However, as a percentage of GDP, GNI has decreased in the same time period, from 77.7% in 2015 to 71.4% by 2025.
• Modified Gross National Income (GNI*) at current prices rose from €167.8bn in 2015 to €334.0bn in 2025, but fell from 61.7% to 55.4% of GDP in that time period. GNI* is an indicator designed to exclude globalisation effects that have a disproportionate impact on the measurement of the Irish economy (see Background Notes).
• GNI* at current prices per capita rose from €35,799 in 2015 to €61,183 in 2025, despite experiencing a small decline to €38,631 in 2020 (see Figure 2.1).

By country: GDP and GNI at current market prices

• In 2024, Ireland had the ninth highest Gross Domestic Product (GDP) in the EU27, at €562.8bn, and the tenth highest Gross National Income (GNI), at €422.8bn (see Table 2.2), of the EU countries whose data was available.
• Five countries in the EU27 had a GNI greater than their GDP in 2024, including Sweden (104.82%), Germany (103.44%), Denmark (102.81%), France (101.92%) and Belgium (101.63%).
• In 2024, Ireland had the second‑lowest ratio of GNI to GDP at 75.13% among EU27 countries (whose data was available), after Luxembourg (65.40%). This can be attributed to the importance of foreign direct investment into the Irish economy and the concentration of large multinationals.
• Five countries in the EU27 had a GDP and GNI of greater than one trillion euros in 2024 - Germany, France, Italy, Spain and the Netherlands - while the candidate country Türkiye’s GDP and GNI also exceeded 1 trillion. United Kingdom’s GDP and GNI was also over 3 trillion euros.
• Germany had both the highest GDP and GNI in the EU27 in 2024 at €4.33 trillion and €4.48 trillion respectively. Malta had the lowest GDP at €23.1bn and GNI at €20.3bn of the EU countries whose data was available.

By country: Real GDP growth rates

• In 2025, Ireland recorded the highest annual GDP growth rate within the EU27, at 8.0% (see Figure 2.3 and Table 2.3). This represents a reversal from 2023, when Ireland experienced the lowest GDP growth rate in the EU27, at -3.3%. In 2024, Ireland ranked 5th highest in the EU for annual GDP growth rate at 3.6% (see Table 2.3).
• Malta stood out over the last 3 years, with the highest GDP growth in the EU27 at 10.6% in 2023 and 6.2% in 2024, and the second-highest in 2025 at 4.0%.
• Ireland’s GNI growth rate dropped from 7.4% in 2023 to 4.4% in 2024 and 0.9% in 2025 (see Table 2.3).
• Overall, the EU27 saw GDP growth of 1.4% in 2025, up from 0.4% in 2023 and 1.2% in 2024. No EU country saw a drop in GDP in 2025.
• Ireland’s GDP growth rate was positive every year between 2015 and 2025, except for 2023, when it fell to -3.3% (see Figure 2.4). GDP growth peaked in 2015 at 24.6%, which was attributed to the globalisation activities of a small number of companies.

By country: GDP per capita in Purchasing Power Standards

• Ireland had the second highest GDP per capita in Purchasing Power Standards (PPS) in 2025, at 238 or 138% higher than the EU27 average. This measurement adjusts for price differences between countries to give an indication of relative economic prosperity.
• GDP per capita in PPS in Ireland increased from 185 in 2015 to 237 in 2022, after which it reduced to 221 in 2024 before increasing again to 238 in 2025 (see Figure 2.5).
• Modified Gross National Income (GNI*) is an indicator which excludes certain globalisation effects to give a more accurate measurement of the size of the domestic Irish economy. Ireland’s GNI* per capita in PPS was 132 in 2025, or 32% above the EU27 average GDP per capita in PPS.
• Luxembourg had the highest GDP per capita in PPS in the EU27 in 2025 at 239, while Bulgaria and Greece had the lowest GDP per capita at 68 each.
• Seventeen countries had a GDP per capita in PPS below the EU27 average in 2025. These included 12 countries that joined the EU27 in 2004 or later, in addition to France, Italy, Spain, Portugal and Greece.

By country: General government consolidated gross debt

• Ireland’s general government consolidated gross debt as a percentage of GDP fell from 74% in 2015 to 32.9% in 2025, with 2025 being the lowest over the time period (see Figure 2.6).
• In 2025, Ireland had the fifth lowest government debt to GDP ratio in the EU27 at 32.9%, down from 38.3% in 2024. However, as a percentage of modified Gross National Income (GNI*), Ireland had a consolidated gross debt of 62.9% in 2025 (see Table 2.5).
• In 2025, Ireland’s debt to GDP ratio was 48.8 percentage points lower than EU27 average of 81.7. Its debt to GNI* ratio was 18.8 percentage points lower at 62.9%.
• The highest debt to GDP ratio in the EU27 in 2025 was in Greece at 146.0%, while the lowest was in Estonia at 24.1%.

By country: Public balance

• In 2025, Ireland’s public balance, the ratio between government spending and income was 1.9% of GDP (down from 4.1% in 2024) and 3.4% of GNI* (down from 7.3% in 2024). A positive balance indicates a surplus, i.e. net lending exceeded net borrowing (see Table 2.6).
• Ireland’s public balance surplus in 2025 compares with an EU27 average deficit of -3.1% of GDP.
• In 2025, Ireland's public balance remained within the EU's Stability and Growth Pact limit of a 3.0% deficit-to-GDP ratio. It improved steadily from 2015 to 2019; however, in 2020, it dropped to -5.0%, before picking up again after 2020 (see Figure 2.7).
• Four other countries in the EU27 had a public balance surplus in 2025: Cyprus (3.4%), Denmark (2.9%), Greece (1.7%) and Portugal (0.7%). Romania had the biggest deficit at -7.9% and was one of 10 EU27 countries that exceeded the 3% EMU deficit limit.

Ireland: General government total expenditure

• General government total expenditure in Ireland increased by 75.1% between 2015 and 2025, rising from €76.4bn to €133.8bn. Most notably, expenditure increased by 17.9% in 2020 to €102.5bn compared to €86.9bn in 2019. Between 2024 and 2025, the expenditure grew by 6.5% (see Table 2.7).
• Government spending as a percentage of GDP in Ireland decreased from 28.1% in 2015 to 23.9% in 2019. It increased to 26.9% in 2020, and then reduced to 20.5% by 2022, before rising again to 22.2% in 2025 (see Figure 2.8).
• Government spending as a percentage of GNI* decreased from 45.5% in 2015 to 42.3% in 2019. It increased to 52.7% in 2020 and then reduced to 40.1% by 2025.

By country: Gross fixed capital formation

• Gross Fixed Capital Formation (GFCF) in Ireland was 24.1% of GDP in 2025, up from 18.2% in 2024 (see Table 2.8).
• As a percentage of GNI*, Ireland’s investment in capital formation was 43.5% in 2025, up from 31.8% in 2024. It was 45.5% in 2023.
• Luxembourg had the lowest GFCF (as a percentage of GDP) within the EU27 in 2025, at 15.0%, and Czechia had the highest at 26.7%, while the EU27 average was 21.5%.

By country: Current account balance

• In 2025, Ireland had a current account surplus of 8.0% of GDP, the third highest in the EU27 after Denmark (12.2%) and Malta (8.6%) (see Table 2.9). This indicator is a measurement of a country’s trade and income flows with the rest of the world.
• Ireland’s current account surplus was 14.5% of Modified Gross National Income (GNI*) in 2025, down from 29.8% in 2024. This value was 14.6% in 2023 (see Table 2.9).
• Ireland was one of 17 countries in the EU27 that had a current account surplus in 2025. Ten countries had a deficit, and the largest of these was Romania (-7.9%).

By country: Exports of goods and services

• Exports of goods and services were 148.5% of GDP in Ireland in 2025 (see Table 2.10). This was the second highest in the EU27, after Luxembourg (195.9%).
• As a percentage of GNI*, Ireland’s exports of goods and services increased from 251.9% in 2024 to 267.9% in 2025.
• Italy had the lowest percentage of exports in the EU27 in 2025, at 32.3% of GDP.
• Six EU countries (Ireland, Cyprus, Estonia, Finland, Luxembourg and Malta) observed an increase in exports of goods and services as a percentage of GDP between 2024 and 2025.

By country: Imports of goods and services

• Imports of goods and services to Ireland were 105.9% of GDP in 2025, the second highest in the EU27. This was an increase from 102.3% in 2024 (see Table 2.11).
• As a percentage of GNI*, Ireland’s imports were 191.0% in 2025, up from 178.8% in 2024.
• The high level of imports and exports relative to national income reflects the fact that Ireland’s economy is very open (see Table 2.10 for data on exports).
• Three countries had imports greater than 100% of their GDP in 2025 - Luxembourg (161.2%), Ireland (105.9%) and Malta (100.4%).
• Italy had the lowest imports as a percentage of GDP in the EU27 in 2025, at 30.3%. Eight EU countries (Ireland, Estonia, Germany, Italy, Latvia, Lithuania, Luxembourg and Malta) saw an increase in imports of goods and services as a percentage of GDP in 2025 compared with 2024.

By country: Harmonised Index of Consumer Prices

• Consumer prices in Ireland increased by 17.6% between 2021 and 2025, below the EU27 average increase of 22.1% and the Eurozone average of 19.5% (see Table 2.12).
• Hungary had the highest percentage increase in consumer prices in the EU27 between 2021 and 2025 at 46.2%, followed by Estonia at 41.6% and Romania at 38.9%. Finland had the lowest price increases at 14.9%.
• All countries in the EU27 experienced increases in consumer prices between 2024 and 2025, with Romania most affected at 6.7%.
• Consumer prices in Ireland rose by 2.0% in 2025, which was the sixth lowest in the EU27 and below the average of 2.5%. Cyprus had the smallest increase in prices at 0.8%.

By country: Comparative price levels of consumer goods and services

• In 2025, price levels for consumer goods and services in Ireland were 36.2% higher than the EU27 average (see Table 2.13), making Ireland the second‑highest among EU member states. Denmark recorded the highest level at 39.7% above the EU27 average, while Luxembourg ranked third at 31.5% above the average.
• In 2015 prices in Ireland were 28.3% above average (see Figure 2.10). Price levels in Ireland relative to the EU27 average increased each year till 2020 when they peaked at 41.7% above average.
• Bulgaria had the lowest comparative price levels in 2025 with prices at 62.5% of the EU27 average (see Table 2.13 and Map 2.4).

By country: Employment rates by sex

• The employment rate in Ireland was 74.6% in 2025, above the EU27 average of 71.0%. The Netherlands had the highest employment rate in 2025 at 82.3%. The lowest rate of employment was in Italy, at 62.5% (see Table 2.14).
• The total employment rate in Ireland increased each year from 64.8% in 2015 to 69.5% in 2019. It then dipped to 67.7% in 2020, before increasing again to 74.6% by 2025 (see Figure 2.11).
• The male employment rate in Ireland followed a similar pattern increasing from 70.3% in 2015 to 78.4% in 2025, but with a slight dip in 2020 to 73.2%. Likewise, the rate for females rose from 59.3% in 2015 to 70.9% in 2025, with a fall in 2020 to 62.4%.
• All countries in the EU27 had a higher rate of males than females in employment in 2025, except Lithuania, where the gender differential was -0.7 percentage points (meaning more women were employed than men). The average gender differential across the EU27 was 8.7 percentage points.
• The gender differential in Ireland in 2025 was 7.5 percentage points. Italy had the highest gender differential at 17.4 percentage points.

By country: GDP in PPS per hour worked

• GDP in PPS per hour worked can be considered a measure of labour productivity per hour worked. When the foreign sector is excluded, Ireland’s GDP per hour worked in PPS was 22.1% higher than the EU27 average in 2025 (see Table 2.15).
• Labour productivity in all sectors in Ireland increased from 82.3% above the EU27 average in 2015 to 108.2% above the EU27 average in 2025.
• Greece had the lowest labour productivity of the EU countries where data was available in 2025, at 54.5% of the EU27 average.

By country: Unemployment rates by sex

• Ireland had a total unemployment rate of 4.7% in 2025, which was the tenth lowest in the EU27 and below the EU average of 6.0% (see Table 2.16).
• In Ireland, the male unemployment rate in 2025 was 4.7%, and the female rate of unemployment was 4.6%, resulting in a gender differential of 0.1 percentage points.
• In the EU27, the female unemployment rate was higher than the male rate at 6.2% compared to 5.8%, giving a gender differential of -0.4 percentage points. Fifteen countries in the EU27 had a male unemployment rate higher than that of females in 2025.
• Czechia had the lowest unemployment rate in the EU27 in 2025, at 2.8%, while Spain had the highest at 10.5%.
• Ireland’s unemployment rate fell from 10.0% in 2015 to 4.7% in 2025, with 2020 and 2021 standing out as the only years in this period where it increased (see Figure 2.13).

By country: Long-term unemployment rates by sex

• In 2025, Ireland had a long-term unemployment rate of 1.1%, down from 5.3% in 2015 (see Figure 2.14), but slightly up from 1.0% in 2024. The EU27 average long-term unemployment rate in 2025 was 1.9% (see Table 2.17). 
• Six countries in the EU27 had a lower long-term unemployment rate than Ireland in 2025, with Netherlands the lowest at 0.5%. Greece had the highest rate at 5.0%, while Germany’s rate matched Ireland’s.
• In Ireland, the male long-term unemployment rate was 1.2% compared to 1.0% for females, resulting in a gender differential of 0.2 percentage points in 2025.
• Of the countries whose data was available, the country with the largest gender differential in long-term unemployment in the EU27 in 2025 was Greece, at -2.8 percentage points (a negative value indicates that female long-term unemployment was higher than male).

By country: Population aged 18-59 living in jobless households

• In Ireland, 7.6% of persons aged 18-59 lived in jobless households in 2025, below the EU27 average of 8.0% (see Table 2.18).
• In 2025, in the EU, Finland had the highest percentage of people living in jobless households at 13.1%, while Czechia had the lowest at 3.0%.
• The percentage of people aged 18-59 living in jobless households in Ireland decreased from 11.7% in 2015 to 7.6% in 2025. Within this period, the rate was lowest in 2023, at 6.6% (see Figure 2.15).

Ireland: Residential Property Price Index

• Residential property prices have almost doubled nationally since 2015, increasing by 97.2% between 2015 and 2025 (see Table 2.19 and Figure 2.16).
• In Dublin, residential property prices increased by 70.5% between 2015 and 2025.
• Property prices in the rest of Ireland showed the strongest growth in the time period increasing by 125.2% between 2015 and 2025.

Ireland: New Dwelling Completions

• New Dwelling Completions is a measure by the CSO of housing and construction in Ireland. It combines multiple data sources to provide a more accurate assessment of the number of new dwellings.
• The number of new dwellings completed in Ireland rose from 7,219 in 2015 to a total of 36,246 in 2025, despite slight falls in 2020 and 2021 during the COVID-19 pandemic. In 2024, it reduced to 30,136 dwellings from 32,473 dwellings in 2023 (see Table 2.20 and Figure 2.17).
• In 2025, there were 5,901 new single houses built, 18,303 new scheme houses (i.e. houses in estates or multi-unit developments), and 12,042 new apartments.
• The number of new dwellings completed in 2025 increased by 402% compared to 2015. The number of new apartments completed rose by 1,689%, scheme houses by 456%, and single houses by 81%.