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Quarterly National Accounts Quarter 1 2025 Final

Foreign and Domestic GVA

Multinational sector expanded by 13.6% in Q1 2025 while Non-MNE dominated was flat

Online ISSN: 2009-5775

CSO statistical release, 08 July 2025, 11am

Table 6.1 Gross Value Added for sectors dominated by Foreign-owned MNEs and Other Sectors, Q1 2025¹
	Amount €m	Quarterly % change
Foreign-owned MNE dominated	75,345	13.6
Other	68,548	-0.0
Total GVA (MNE dominated + Other)	143,893	6.7
¹Constant Market Prices, chain linked annually and referenced to year 2023, seasonally adjusted

Open in Excel: Quarterly National Accounts Q1 2025 Table 6.1 (XLS 9KB)

On a seasonally adjusted basis, estimates indicate that Gross Value Added (GVA) in volume terms in the Foreign-owned MNE dominated sector rose by 13.6% for the first quarter of 2025, largely driven by an expansion in the Industry (excluding Construction) sector of 16.5% quarter-on-quarter. GVA for the non-MNE dominated sectors of the economy was largely flat over the same period.

Real GVA for the total economy amounted to almost €144 billion in the Q1 2025 reference period, with GVA for MNE dominated sectors representing approximately 52.4% of Total GVA while GVA for the non-MNE dominated sectors represented approximately 47.6% of the total.

	Foreign-owned MNE-dominated	Other
Q1 2023	-18.0269071752778	4.0036741417514
Q2 2023	6.97161268668767	1.68197482438541
Q3 2023	-6.67036999818464	0.019870918310283
Q4 2023	-2.33393926511437	1.23872805002008
Q1 2024	-6.40896860775851	1.32398318899332
Q2 2024	6.38811221340871	-0.288048880400904
Q3 2024	9.8912994736573	1.91911360551136
Q4 2024	5.2923702316505	0.265698804741743
Q1 2025	13.5507520760969	-0.00794270555497523

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 2023)¹

Table 6.2 Gross Value Added at Current Basic Prices & Constant Basic Prices (Chain linked annually and referenced to year 2023)¹						€million
	Current Basic Prices			Constant Basic Prices
Period	Foreign-owned MNE dominated	Other	Total	Foreign-owned MNE dominated	Other	Total
2019	151,956	191,093	343,049	152,375	226,872	373,646
2020	174,789	183,876	358,665	189,456	214,307	402,396
2021	217,785	204,858	422,643	237,505	231,524	468,704
2022	263,044	233,934	496,978	269,585	240,232	509,871
2023	237,410	261,863	499,274	237,410	261,863	499,274
2024	256,280	279,597	535,877	241,013	271,311	512,324

2019
Q1	35,748	45,710	81,458	34,443	54,407	87,392
Q2	35,626	46,683	82,309	37,979	55,904	92,527
Q3	38,305	48,416	86,721	39,277	57,647	95,531
Q4	42,278	50,284	92,562	40,676	58,913	98,196

2020
Q1	43,628	47,531	91,159	44,272	55,514	99,017
Q2	40,592	41,083	81,676	45,635	48,081	93,679
Q3	46,853	46,770	93,624	50,259	54,511	104,601
Q4	43,715	48,492	92,207	49,291	56,201	105,100

2021
Q1	53,580	47,148	100,728	56,929	53,394	110,323
Q2	50,443	49,835	100,278	57,283	56,842	114,009
Q3	57,630	52,499	110,129	62,876	58,987	121,863
Q4	56,132	55,376	111,508	60,417	62,302	122,509

2022
Q1	61,414	54,139	115,553	62,667	56,877	119,537
Q2	60,802	57,879	118,682	63,734	59,838	123,528
Q3	71,538	59,715	131,253	71,451	60,780	132,299
Q4	69,290	62,201	131,491	71,734	62,736	134,507

2023
Q1	60,042	62,760	122,801	58,439	62,782	121,223
Q2	59,253	65,715	124,969	60,492	65,760	126,253
Q3	60,774	66,252	127,026	61,000	66,182	127,182
Q4	57,341	67,137	124,478	57,480	67,140	124,616
		261,863				-0
2024
Q1	59,376	67,521	126,897	53,614	65,691	119,305
Q2	61,011	69,378	130,389	55,029	67,217	122,245
Q3	65,501	71,400	136,901	65,572	69,041	134,613
Q4	70,393	71,298	141,691	66,798	69,363	136,161

2025
Q1	87,366	71,540	158,906	74,885	66,965	141,850

Annual Percentage Changes
2019	13.6	5.4	8.9	6.7	4.3	5.3
2020	15.0	-3.8	4.6	24.3	-5.5	7.7
2021	24.6	11.4	17.8	25.4	8.0	16.5
2022	20.8	14.2	17.6	13.5	3.8	8.8
2023	-9.7	11.9	0.5	-11.9	9.0	-2.1
2024	7.9	6.8	7.3	1.5	3.6	2.6

Percentage change on corresponding period of previous year
2019
Q1	11.1	7.0	8.8	2.1	5.4	4.0
Q2	16.0	4.1	8.9	7.2	3.7	5.2
Q3	12.0	4.9	7.9	8.6	3.8	5.8
Q4	15.2	5.7	9.9	8.4	4.1	5.9

2020
Q1	22.0	4.0	11.9	28.5	2.0	13.3
Q2	13.9	-12.0	-0.8	20.2	-14.0	1.2
Q3	22.3	-3.4	8.0	28.0	-5.4	9.5
Q4	3.4	-3.6	-0.4	21.2	-4.6	7.0

2021
Q1	22.8	-0.8	10.5	28.6	-3.8	11.4
Q2	24.3	21.3	22.8	25.5	18.2	21.7
Q3	23.0	12.2	17.6	25.1	8.2	16.5
Q4	28.4	14.2	20.9	22.6	10.9	16.6

2022
Q1	14.6	14.8	14.7	10.1	6.5	8.4
Q2	20.5	16.1	18.4	11.3	5.3	8.3
Q3	24.1	13.7	19.2	13.6	3.0	8.6
Q4	23.4	12.3	17.9	18.7	0.7	9.8

2023
Q1	-2.2	15.9	6.3	-6.7	10.4	1.4
Q2	-2.5	13.5	5.3	-5.1	9.9	2.2
Q3	-15.0	10.9	-3.2	-14.6	8.9	-3.9
Q4	-17.2	7.9	-5.3	-19.9	7.0	-7.4

2024
Q1	-1.1	7.6	3.3	-8.3	4.6	-1.6
Q2	3.0	5.6	4.3	-9.0	2.2	-3.2
Q3	7.8	7.8	7.8	7.5	4.3	5.8
Q4	22.8	6.2	13.8	16.2	3.3	9.3

2025
Q1	47.1	6.0	25.2	39.7	1.9	18.9
¹Chain linked series not additive

Open in Excel: Quarterly National Accounts Q1 2025 Table 6.2 (XLS 18KB)

Visit Table NAQ06 on PxStat

Table 6.3 Gross Value Added at Current Basic Prices & Constant Basic Prices (Chain linked annually and referenced to year 2023)¹ - Seasonally Adjusted

Table 6.3 Gross Value Added at Current Basic Prices & Constant Basic Prices (Chain linked annually and referenced to year 2023)¹ - Seasonally Adjusted						€million
	Current Basic Prices			Constant Basic Prices
Period	Foreign-owned MNE dominated	Other	Total	Foreign-owned MNE dominated	Other	Total
2019
Q1	34,609	46,978	81,587	35,063	56,127	91,190
Q2	38,454	46,958	85,413	39,004	56,184	95,188
Q3	38,797	47,871	86,668	38,991	56,756	95,747
Q4	40,396	49,199	89,595	40,216	57,864	98,080

2020
Q1	42,563	48,913	91,476	45,105	57,371	102,476
Q2	43,576	41,273	84,849	46,842	48,210	95,052
Q3	45,940	46,230	92,170	49,394	53,690	103,084
Q4	45,428	47,562	92,990	49,217	55,290	104,506

2021
Q1	53,779	48,488	102,267	57,863	55,175	113,038
Q2	53,682	49,890	103,572	59,013	56,824	115,838
Q3	56,439	51,975	108,414	61,309	58,197	119,505
Q4	55,357	54,532	109,889	60,668	61,447	122,115

2022
Q1	62,054	55,536	117,590	63,448	58,641	122,088
Q2	64,160	57,724	121,884	66,130	59,671	125,800
Q3	67,745	59,209	126,954	69,291	60,133	129,424
Q4	67,180	61,617	128,797	72,057	62,006	134,063

2023
Q1	60,665	64,053	124,718	59,067	64,489	123,556
Q2	62,205	65,444	127,649	63,185	65,574	128,759
Q3	58,505	65,724	124,228	58,970	65,587	124,557
Q4	57,442	66,827	124,270	57,594	66,399	123,993

2024
Q1	57,763	68,615	126,378	53,903	67,278	121,181
Q2	62,030	69,130	131,161	57,346	67,084	124,431
Q3	65,073	70,749	135,822	63,019	68,372	131,390
Q4	71,374	71,199	142,573	66,354	68,553	134,907

2025
Q1	83,463	72,537	156,000	75,345	68,548	143,893

Percentage change on previous quarter
2019
Q1	-1.8	0.9	-0.3	-4.4	1.0	-1.1
Q2	11.1	-0.0	4.7	11.2	0.1	4.4
Q3	0.9	1.9	1.5	-0.0	1.0	0.6
Q4	4.1	2.8	3.4	3.1	2.0	2.4

2020
Q1	5.4	-0.6	2.1	12.2	-0.9	4.5
Q2	2.4	-15.6	-7.2	3.9	-16.0	-7.2
Q3	5.4	12.0	8.6	5.4	11.4	8.5
Q4	-1.1	2.9	0.9	-0.4	3.0	1.4

2021
Q1	18.4	1.9	10.0	17.6	-0.2	8.2
Q2	-0.2	2.9	1.3	2.0	3.0	2.5
Q3	5.1	4.2	4.7	3.9	2.4	3.2
Q4	-1.9	4.9	1.4	-1.0	5.6	2.2

2022
Q1	12.1	1.8	7.0	4.6	-4.6	-0.0
Q2	3.4	3.9	3.7	4.2	1.8	3.0
Q3	5.6	2.6	4.2	4.8	0.8	2.9
Q4	-0.8	4.1	1.5	4.0	3.1	3.6

2023
Q1	-9.7	4.0	-3.2	-18.0	4.0	-7.8
Q2	2.5	2.2	2.3	7.0	1.7	4.2
Q3	-5.9	0.4	-2.7	-6.7	0.0	-3.3
Q4	-1.8	1.7	0.0	-2.3	1.2	-0.5

2024
Q1	0.6	2.7	1.7	-6.4	1.3	-2.3
Q2	7.4	0.8	3.8	6.4	-0.3	2.7
Q3	4.9	2.3	3.6	9.9	1.9	5.6
Q4	9.7	0.6	5.0	5.3	0.3	2.7

2025
Q1	16.9	1.9	9.4	13.6	-0.0	6.7
¹Chain linked series not additive