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Foreign and Domestic GVA

Foreign and Domestic GVA

Multinational sector contracted by 15.7% in Q1 2023 while Non-MNE dominated sectors grew by 2.7%

Online ISSN: 2009-5775
CSO statistical release, , 11am
Table 6.1 Gross Value Added for sectors dominated by Foreign-owned MNEs and Other Sectors, Q1 20231
 Amount €mQuarterly % change
Foreign-owned MNE dominated58,168-15.7
Other51,5302.7
Total GVA (MNE dominated + Other)109,697-8.0
1Constant Market Prices, chain linked annually and referenced to year 2020, seasonally adjusted.

On a seasonally adjusted basis, estimates indicate that Gross Value Added (GVA) in volume terms in the Foreign-owned MNE dominated sector declined by 15.7% for the first quarter of 2023, largely driven by a contraction in the Industry (excluding Construction) sector of 18.2% quarter-on-quarter. GVA for the non-MNE dominated sectors of the economy grew by 2.7% over the same period.

Real GVA for the total economy amounted to almost €110 billion in the Q1 2023 reference period, with GVA for MNE dominated sectors representing approximately 53.0% of Total GVA while GVA for the non-MNE dominated sectors represented approximately 47.0% of the total.

Foreign-owned MNE-dominatedOther
Q1 202012.9227849199372-0.804711492804755
Q2 20203.52349947424226-17.2665065064357
Q3 20207.6782801245075311.9137939893764
Q4 2020-2.249041203440372.31099695145869
Q1 202115.2252787332094-1.5454127205565
Q2 2021-1.110689126654562.4393825308159
Q3 20216.575293001303282.38278281501256
Q4 2021-2.271945630172053.06289278566501
Q1 20229.333515680720921.96958945799719
Q2 20225.260353585202981.31849740610661
Q3 20222.78271846886102-0.0683059973902611
Q4 20229.818604762034290.254077353667204
Q1 2023-15.7005855065382.69073829937427

Get the data: NAQ06

 The classification of value added for the total economy between (a) the Foreign-owned MNE dominated sector and (b) the Other sector in Tables 6.2 and 6.3 is determined by business accounting turnover. Foreign-owned MNE dominated sectors are defined as those where MNE turnover on average exceeds 85% of the sector total. Economic activity classified to the Non-MNE dominated sector falls below this turnover threshold.

The main sectors dominated by MNEs in Ireland are:

  • Pharma and Chemical production
  • Computer, electronic and optical device manufacturing
  • Medical instrument production
  • Information & Communications, including software publishing

The combination of all remaining non-MNE dominated sectors provides an estimation of the value-added contribution of the domestic-facing side of the economy to the overall economy.

Table 6.2 Gross Value Added at Current Basic Prices & Constant Basic Prices (Chain linked annually and referenced to year 2020)1

Table 6.3 Gross Value Added at Current Basic Prices & Constant Basic Prices (Chain linked annually and referenced to year 2020)1 - Seasonally Adjusted