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Table 2.1 Gross Domestic Product1 by Nace Rev. 2 A10 Sector of Origin, Q1 20232 | ||
Amount €m | Quarterly % change | |
Industry (excl. Construction) | 44,145 | -13.2 |
Information and Communication | 21,392 | 4.9 |
Public Admin, Education and Health | 10,671 | 0.5 |
Professional, Admin and Support Services | 10,380 | -2.5 |
Distribution, Transport, Hotels and Restaurants | 10,119 | 1.7 |
Real Estate Activities | 6,352 | 0.3 |
Financial and Insurance Activities | 4,571 | 8.4 |
Construction | 2,496 | 4.3 |
Agriculture, Forestry and Fishing | 1,119 | 2.1 |
Arts, Entertainment and Other Services | 1,042 | -22.3 |
Gross Domestic Product | 117,504 | -2.8 |
1Series is not additive, Taxes less Subsidies on Products not shown in table (see Table 2.5 for full detail). | ||
2Constant Market Prices, chain linked annually and referenced to year 2021, seasonally adjusted. |
The MNE dominated sectors of the economy contracted by 9.0% overall in the first quarter of 2023. The MNE dominated Industry (excluding Construction) sector recorded a significant decrease in Q1 compared with the previous quarter, falling by 13.2% which more than offset the growth in the Information & Communication sector of 4.9% in the quarter. The domestically facing Construction sector increased by 4.3% quarter-on-quarter while the Agriculture, Forestry & Fishing sector expanded by 2.1% over the period compared with Q4 2022. The Finance & Insurance sector increased by 8.4% in Q1 while the Distribution, Transport, Hotels & Restaurants sector grew by 1.7% in the quarter. The Arts & Entertainment sector recorded a marked decline of 22.3% in Q1 while Professional & Administrative services fell by 2.5% over the same period. The domestically dominated Public Administration, Education & Health sector and the Real Estate sector posted modest increases of 0.5% and 0.3% quarter-on-quarter respectively in Q1 2023. (See Tables 2.5 and 6.3).
Column1 | Q1 2023 | Q4 2022 |
---|---|---|
Industry (excl. Construction) | 44.14488927 | 50.856932335 |
Information and Communication | 21.39197496 | 20.399570654 |
Public Admin, Education and Health | 10.670792716 | 10.618599787 |
Professional, Admin and Support Services | 10.380080376 | 10.641355261 |
Distribution, Transport, Hotels and Restaurants | 10.11929309 | 9.947646649 |
Real Estate Activities | 6.351969799 | 6.334582941 |
Financial and Insurance Activities | 4.570860419 | 4.217573555 |
Construction | 2.496439318 | 2.392745911 |
Agriculture Forestry and Fishing | 1.119075857 | 1.095741742 |
Arts, Entertainment and Other Services | 1.042302026 | 1.341917479 |
Get the data: NAQ02
Column1 | Q1 2023 |
---|---|
Arts, Entertainment & Other Services | -22.3274126530697 |
Industry (excl. Construction) | -13.1978921197745 |
Professional, Admin & Support Services | -2.45527828544132 |
Real Estate Activities | 0.274475181112011 |
Public Admin, Education & Health | 0.491523647627234 |
Distribution, Transport, Hotels & Restaurants | 1.72549797008776 |
Agriculture, Forestry & Fishing | 2.12952688627246 |
Construction | 4.33365726478929 |
Information & Communication | 4.86482937720754 |
Financial & Insurance Activities | 8.37654303814506 |
Agriculture, Forestry & Fishing | Industry (excl. Construction) | Construction | Distribution, Transport, Hotels & Restaurants | Information & Communication | Financial & Insurance Activities | Real Estate Activities | Professional, Admin & Support Services | Public Admin, Education & Health | Arts, Entertainment & Other Services | |
Q1 2020 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
Q2 2020 | 101.834240432411 | 105.073037956063 | 64.7724068981369 | 58.4696107564859 | 93.3475336934933 | 95.9702944065895 | 94.099714348215 | 102.53917647568 | 91.5885589666177 | 62.0027950603835 |
Q3 2020 | 89.5640890897877 | 105.820110387108 | 88.2049766982373 | 83.9857309621973 | 118.154188622354 | 93.0603809838689 | 96.6850605973943 | 105.793796413442 | 97.4708311810711 | 63.0740329318613 |
Q4 2020 | 99.4932727307948 | 110.381174189704 | 97.1823384391082 | 84.4613206168001 | 104.611272194206 | 92.3287446449176 | 101.071618460604 | 103.956923838288 | 97.8857742728556 | 66.7308364960592 |
Q1 2021 | 98.5960718354731 | 127.876427305324 | 80.0817371999298 | 78.5003560836748 | 117.959264804689 | 121.990708601485 | 104.008848828553 | 99.5255224419388 | 98.5306342229308 | 70.9432327669671 |
Q2 2021 | 96.2619262491615 | 129.051549374869 | 91.4549970170256 | 84.4055447749628 | 124.292889086899 | 121.567943792479 | 104.899929134397 | 97.9138254159071 | 99.4420773801863 | 72.7849727812453 |
Q3 2021 | 105.246922571854 | 138.366331315547 | 94.0159419457475 | 88.3076257908047 | 122.750062154679 | 120.681149854994 | 105.577995216756 | 97.7697320996158 | 101.029170039425 | 76.9469591414837 |
Q4 2021 | 103.848997062831 | 127.004538537317 | 105.103213805702 | 92.6111862559962 | 138.081718551843 | 118.541746791921 | 108.240307816509 | 96.6681327194353 | 102.426376990459 | 93.6324439258334 |
Q1 2022 | 107.407392162806 | 143.974728301228 | 94.8277125590251 | 95.1159006270336 | 129.029248218591 | 116.311119727327 | 108.569464323353 | 98.9236113887181 | 104.793083295048 | 77.3283110538986 |
Q2 2022 | 109.070323980236 | 146.326434546679 | 98.2774176058246 | 102.047857946545 | 136.197057351436 | 112.15501776771 | 109.824048340503 | 99.7969100522382 | 106.27052687226 | 84.5935572044155 |
Q3 2022 | 110.039073256567 | 160.5613609408 | 98.2260753197507 | 101.338223499787 | 138.482810890247 | 109.463650855646 | 111.108291791019 | 98.6109229667747 | 106.93682430108 | 85.4351656394992 |
Q4 2022 | 102.689422458059 | 168.674378091816 | 95.0121115781895 | 103.41660630369 | 135.649426974572 | 110.785521723853 | 111.154645908938 | 98.8250653039277 | 108.049151374956 | 101.367745353436 |
Q1 2023 | 104.876221318661 | 146.412915637558 | 99.1296108540275 | 105.201057746194 | 142.248540148044 | 120.065518631086 | 111.459737824611 | 96.3986349349471 | 108.580238505025 | 78.7349505512612 |
Updated estimates for the first quarter of 2023 indicate that there was an increase of 2.2% in GDP in real terms in Q1 2023 compared with Q1 2022. Gross Value Added (GVA) for the MNE-dominated sectors expanded by 3.5% in Q1 2023 compared with Q1 2022. The Information & Communication sector increased by 10.2% in Q1 compared with the equivalent quarter of 2022 while the Industry (excluding Construction) sector increased by 1.5% year-on-year over the same period.
Of the domestic based economic sectors, Distribution, Transport, Hotels & Restaurants and Construction posted strong results, increasing by 10.7% and 5.6% respectively compared with the same quarter of 2022 while Public Administration, Education & Health rose by 3.5% in Q1 2023 compared with Q1 2022. Modest year-on-year increases were also recorded in Real Estate activities (2.6%), Financial & Insurance activities (2.4%) and the Arts & Entertainment sector (1.2%). The Professional & Administrative Services sector contracted by 2.6% year-on-year in Q1 2023 while the Agriculture, Forestry and Fishing sector fell by (2.1%). Overall, the domestic based sectors grew by 4.1% year-on-year in the first quarter of 2023 compared with Q1 2022. (See Tables 2.3 and 6.2). It must be recalled when analysing all year-on-year comparisons that Q1 2022 was a quarter partially affected by significant COVID-19 restrictions.
FOR UPDATES TABLES, PLEASE CLICK ON THE FOLLOWING LINK: Quarterly National Accounts Q1 2023 Updates Tables (XLS 56KB)
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