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Quarterly National Accounts Quarter 1 2025 Provisional

GDP - Expenditure

Personal Consumption Expenditure increased by 0.6% in Q1 2025

Online ISSN: 2009-5775

CSO statistical release, 05 June 2025, 11am

Table 3.1 Expenditure Components of GDP1, Q1 2025²
	Amount €m	Quarterly % change
Personal Consumption of Goods and Services	36,854	0.6
Net Expenditure by Central and Local Government on Current Goods and Services	13,464	0.7
Gross Domestic Fixed Capital Formation	35,204	41.1
Net Exports	67,031
Exports of Goods and Services	212,479	9.4
Less Imports of Goods and Services	-145,448	8.0
Gross Domestic Product	144,644	9.7
¹Series not additive, Value of Physical Changes in Stocks not shown on table (see Table 3.5 for full detail)
²Constant Market Prices, chain linked annually and referenced to year 2022 and seasonally adjusted

Open in Excel: Quarterly National Accounts Q1 2025 Table 3.1 (XLS 11KB)

On the expenditure side of the accounts (Table 3.5), Capital Investment increased by €8.6 billion in Q1 compared with the previous quarter and accounted for 38.5% of total domestic demand in Q1 2025.

Personal Consumption Expenditure increased by 0.6% in Q1 2025 compared to Q4 2024, while Government Expenditure increased by 0.7% over the same period. There was an overall increase in real GDP of 9.7%.

	Personal Consumption Expenditure	Government Expenditure	Gross Fixed Capital Formation	Value of Physical Changes in Stocks	Net Exports	GDP
Q1 2022	32.2179436446	11.9157784753	23.7623243793	1.5723776132	55.4747069433	125.4520837721
Q2 2022	33.4775502386	12.1473294398	27.3146298636	3.9352383532	53.6502448359	129.5848163145
Q3 2022	34.340490715	12.2259694632	29.7745925103	3.2799068632	53.0079022841	132.9061916932
Q4 2022	34.617472707	12.308401509	29.691602689	-0.1216929668	53.9208847205	133.3946313559
Q1 2023	34.7838418909	12.349650289	24.7218831641	2.6296438651	51.6708443532	124.5721426393
Q2 2023	35.4079434454	12.5064200772	24.694811179	5.4105571551	44.2439253513	124.7266388262
Q3 2023	35.1426727335	12.7861763321	24.0238199589	4.0388224251	44.2632918805	121.9419403414
Q4 2023	35.87385696	13.0006554473	40.2079848988	3.2058041451	26.4756812953	120.3843772865
Q1 2024	35.9427398615	12.9852349024	23.6236121834	1.4250241851	45.608928212	119.4057250197
Q2 2024	36.1199591833	13.2195486663	8.6055655848	0.6688189741	62.4174331076	121.0232110652
Q3 2024	35.7955753595	13.38466704	27.2137107457	0.4548041701	45.979781588	125.5991557997
Q4 2024	36.6331443243	13.3718266691	24.9468384604	-2.0498985399	59.6194854736	131.8441299572
Q1 2025	36.8540572666	13.4638131634	35.2041463154	-3.7292202889	67.0308138213	144.6438226646

Get the data: NAQ04

	Building & Construction	Machinery & Equipment	Intangibles	Gross Domestic Fixed Capital Formation
Q1 2022	7.8261724258	5.9827368181	9.9534151352	23.7623243793
Q2 2022	8.1420229292	6.9719936432	12.200613291	27.3146298636
Q3 2022	7.9090434173	7.0939438001	14.7716052928	29.7745925103
Q4 2022	7.579574571	6.6518572752	15.4601708427	29.691602689
Q1 2023	8.1576665293	6.738464223	9.8257524117	24.7218831641
Q2 2023	7.7613679759	6.9176260372	10.0158171658	24.694811179
Q3 2023	7.5857814197	6.4253947738	10.0126437652	24.0238199589
Q4 2023	7.6865334629	6.603649807	25.9178016288	40.2079848988
Q1 2024	7.3984438623	5.7483691711	10.4767991499	23.6236121834
Q2 2024	7.5047622772	7.1502759683	-6.0494726607	8.6055655848
Q3 2024	7.82846574	6.8542806963	12.5309643094	27.2137107457
Q4 2024	7.6525064655	4.9904301753	12.3039018195	24.9468384604
Q1 2025	7.9163598048	6.4846540457	20.8031324648	35.2041463154

Get the data: NAQ04

Comparisons with Q1 2024

On the expenditure side of the accounts (Table 3.3), Capital Investment increased by €6.4 billion compared to the same quarter of 2024. Personal Consumption Expenditure showed an increase of 2.5% while Government Expenditure grew by 4.5% over the same period. Exports of Goods and Services increased by 23.3% (or €39.3 billion) while Imports of Goods and Services increased by 13.3% (or €16.5 billion) over the same period. Net Exports therefore increased by 50.2% (or €22.8 billion) year-on-year.

Table 3.2 Expenditure on Gross National Product at Current Market Prices

Table 3.2 Expenditure on Gross National Product at Current Market Prices										€million
Period	Personal Consumption of Goods and Services	Net Exp. by Central and Local Government on Current Goods and Services	Gross Domestic Fixed Capital Formation	Value of Physical Changes in Stocks	Exports of Goods and Services	Imports of Goods and Services	Statistical Discrepancy	GDP at Current Market Prices	Net Factor Income from Rest of World	GNP at Current Market Prices
2019	112,184	36,255	193,555	1,788	462,855	-445,408	2,446	363,675	-90,450	273,225
2020	101,761	40,979	157,987	4,309	517,749	-438,184	-2,394	382,207	-103,801	278,407
2021	113,823	44,614	99,007	4,811	597,705	-410,421	-322	449,217	-128,946	320,270
2022	134,873	48,693	110,306	9,085	712,038	-497,207	3,148	520,935	-165,125	355,811
2023	152,720	53,247	118,231	16,051	688,732	-520,955	1,926	509,952	-121,938	388,014
2024	162,307	56,776	91,709	1,179	787,240	-562,176	-3,591	533,444	-129,664	403,781

2019
Q1	27,068	8,769	17,782	1,036	108,477	-76,493	491	87,130	-22,289	64,841
Q2	27,297	9,026	60,983	-318	111,979	-122,377	205	86,795	-24,073	62,722
Q3	27,995	9,236	21,860	1,174	116,702	-82,946	-300	93,720	-22,830	70,890
Q4	29,824	9,225	92,929	-105	125,697	-163,592	2,051	96,030	-21,258	74,772
2020
Q1	26,003	9,348	79,024	2,087	127,340	-148,710	485	95,577	-25,126	70,452
Q2	22,134	10,327	17,149	1,098	117,291	-80,280	-993	86,726	-24,433	62,293
Q3	26,364	10,392	23,886	407	124,725	-82,350	-1,614	101,810	-31,089	70,722
Q4	27,261	10,911	37,928	716	148,393	-126,844	-272	98,093	-23,153	74,940
2021
Q1	23,552	10,694	17,985	1,950	136,085	-84,500	620	106,386	-34,867	71,519
Q2	27,659	11,182	20,020	70	143,894	-94,467	-1,365	106,992	-33,284	73,709
Q3	30,156	11,358	20,671	2,944	151,549	-97,000	-833	118,847	-33,322	85,525
Q4	32,456	11,379	40,331	-153	166,177	-134,454	1,256	116,992	-27,474	89,518
2022
Q1	30,084	11,660	22,366	1,649	161,246	-105,633	752	122,123	-40,073	82,050
Q2	32,497	11,948	26,744	4,008	172,875	-121,094	-1,503	125,475	-38,322	87,153
Q3	34,464	12,034	29,829	3,497	185,899	-128,192	1,037	138,569	-45,895	92,674
Q4	37,829	13,051	31,367	-69	192,016	-142,288	2,862	134,769	-40,834	93,934
2023
Q1	34,222	12,697	24,298	2,667	175,488	-120,672	-1,092	127,608	-41,954	85,654
Q2	37,421	13,146	25,554	5,507	167,711	-124,742	979	125,576	-30,378	95,198
Q3	38,666	13,119	25,161	4,125	168,714	-121,109	1,291	129,967	-28,004	101,964
Q4	42,411	14,284	43,218	3,752	176,819	-154,433	749	126,801	-21,603	105,198
2024
Q1	37,510	13,527	24,365	1,653	176,068	-127,960	129	125,292	-32,160	93,132
Q2	40,132	14,246	9,444	802	204,419	-140,400	-2,868	125,774	-27,589	98,185
Q3	40,225	14,090	29,324	688	192,332	-138,641	213	138,232	-29,854	108,378
Q4	44,440	14,913	28,577	-1,964	214,421	-155,175	-1,066	144,146	-40,061	104,085
2025
Q1	39,407	14,334	38,934	-3,534	224,274	-150,465	-3,959	158,993	-66,400	92,592

Percentage change on corresponding period of previous year
2019	4.6	9.7	107.0		12.4	42.3		8.6		8.1
2020	-9.3	13.0	-18.4		11.9	-1.6		5.1		1.9
2021	11.9	8.9	-37.3		15.4	-6.3		17.5		15.0
2022	18.5	9.1	11.4		19.1	21.1		16.0		11.1
2023	13.2	9.4	7.2		-3.3	4.8		-2.1		9.1
2024	6.3	6.6	-22.4		14.3	7.9		4.6		4.1

2019
Q1	4.8	9.0	13.6		15.3	20.4		7.3		6.3
Q2	5.1	9.9	249.1		10.9	71.4		7.7		2.4
Q3	4.2	8.6	12.1		11.8	11.5		9.2		7.3
Q4	4.2	11.3	127.4		11.9	57.9		10.1		15.8
2020
Q1	-3.9	6.6	344.4		17.4	94.4		9.7		8.7
Q2	-18.9	14.4	-71.9		4.7	-34.4		-0.1		-0.7
Q3	-5.8	12.5	9.3		6.9	-0.7		8.6		-0.2
Q4	-8.6	18.3	-59.2		18.1	-22.5		2.1		0.2
2021
Q1	-9.4	14.4	-77.2		6.9	-43.2		11.3		1.5
Q2	25.0	8.3	16.7		22.7	17.7		23.4		18.3
Q3	14.4	9.3	-13.5		21.5	17.8		16.7		20.9
Q4	19.1	4.3	6.3		12.0	6.0		19.3		19.5
2022
Q1	27.7	9.0	24.4		18.5	25.0		14.8		14.7
Q2	17.5	6.9	33.6		20.1	28.2		17.3		18.2
Q3	14.3	6.0	44.3		22.7	32.2		16.6		8.4
Q4	16.6	14.7	-22.2		15.5	5.8		15.2		4.9
2023
Q1	13.8	8.9	8.6		8.8	14.2		4.5		4.4
Q2	15.2	10.0	-4.4		-3.0	3.0		0.1		9.2
Q3	12.2	9.0	-15.6		-9.2	-5.5		-6.2		10.0
Q4	12.1	9.4	37.8		-7.9	8.5		-5.9		12.0
2024
Q1	9.6	6.5	0.3		0.3	6.0		-1.8		8.7
Q2	7.2	8.4	-63.0		21.9	12.6		0.2		3.1
Q3	4.0	7.4	16.5		14.0	14.5		6.4		6.3
Q4	4.8	4.4	-33.9		21.3	0.5		13.7		-1.1
2025
Q1	5.1	6.0	59.8		27.4	17.6		26.9		-0.6

Open in Excel: Quarterly National Accounts Q1 2025 Table 3.2 (XLS 20KB)

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Table 3.3 Expenditure on Gross National Product at Constant Market Prices (Chain linked annually and referenced to year 2022)¹

Table 3.3 Expenditure on Gross National Product at Constant Market Prices (Chain linked annually and referenced to year 2022)¹									€million
Period	Personal Consumption of Goods and Services	Net Exp. by Central and Local Government on Current Goods and Services	Gross Domestic Fixed Capital Formation	Value of Physical Changes in Stocks	Exports of Goods and Services	Imports of Goods and Services	GDP at Constant Market Prices	Net Factor Income from Rest of World	GNP at Constant Market Prices
2019	123,615	39,808	210,129	1,689	483,284	-469,434	384,980	-92,331	294,284
2020	111,911	44,450	175,522	4,399	550,020	-469,514	412,536	-107,965	305,826
2021	121,817	47,267	106,416	5,018	627,379	-428,443	479,597	-132,793	347,855
2022	134,873	48,693	110,306	9,085	712,038	-497,207	520,935	-165,125	355,811
2023	141,339	50,782	113,393	15,740	670,610	-503,226	492,128	-116,621	375,507
2024	144,561	52,959	84,548	954	748,909	-535,910	498,138	-121,033	377,105

2019
Q1	30,054	9,703	19,873	983	112,066	-80,963	91,639	-22,518	69,472
Q2	29,946	9,841	66,922	-242	117,560	-129,724	93,264	-24,715	68,778
Q3	30,796	10,265	23,911	1,069	121,420	-88,180	99,609	-23,229	76,850
Q4	32,818	9,999	99,424	-121	132,238	-170,566	100,469	-21,870	79,184
2020
Q1	28,535	10,040	85,591	1,974	131,570	-157,250	99,741	-25,379	74,706
Q2	24,436	11,290	19,024	1,231	124,951	-84,859	95,476	-25,446	70,295
Q3	28,909	11,396	27,219	440	135,741	-88,835	111,258	-33,076	78,302
Q4	30,030	11,723	43,687	754	157,759	-138,570	106,062	-24,064	82,524
2021
Q1	25,673	11,707	19,307	1,941	142,652	-88,678	113,276	-35,793	77,483
Q2	29,789	11,827	21,266	40	155,256	-99,189	117,479	-35,167	82,422
Q3	32,078	11,559	21,461	3,133	158,998	-100,257	126,559	-34,234	92,648
Q4	34,277	12,174	44,382	-96	170,473	-140,320	122,282	-27,598	95,303
2022
Q1	30,778	11,599	22,495	1,677	162,832	-108,599	122,635	-40,453	82,095
Q2	32,614	12,081	26,955	4,040	174,701	-121,866	127,060	-38,717	88,428
Q3	34,388	12,360	29,984	3,385	185,324	-126,439	138,231	-45,738	92,388
Q4	37,093	12,654	30,873	-17	189,180	-140,303	133,009	-40,216	92,900
2023
Q1	33,053	11,878	23,622	2,743	169,567	-117,374	122,440	-39,812	82,628
Q2	34,724	12,416	24,525	5,524	164,597	-121,501	122,096	-29,275	92,821
Q3	34,968	12,952	24,169	4,153	166,703	-116,814	126,645	-27,170	99,476
Q4	38,594	13,536	41,077	3,320	169,742	-147,538	120,947	-20,365	100,582
2024
Q1	34,059	12,342	22,662	1,539	168,996	-123,508	116,961	-30,311	86,651
Q2	35,545	13,158	8,677	783	195,076	-134,281	118,388	-25,850	92,538
Q3	35,456	13,646	27,452	569	184,724	-132,498	130,736	-28,156	102,580
Q4	39,500	13,813	25,757	-1,936	200,112	-145,623	132,052	-36,716	95,336
2025
Q1	34,908	12,892	34,196	-3,616	208,309	-139,978	142,902	-60,560	82,342

Percentage change on corresponding period of previous year
2019	2.9	6.5	99.7		10.5	40.6	5.0		4.1
2020	-9.5	11.7	-16.5		13.8	0.0	7.2		3.9
2021	8.9	6.3	-39.4		14.1	-8.7	16.3		13.7
2022	10.7	3.0	3.7		13.5	16.0	8.6		2.3
2023	4.8	4.3	2.8		-5.8	1.2	-5.5		5.5
2024	2.3	4.3	-25.4		11.7	6.5	1.2		0.4

2019
Q1	3.0	7.8	12.5		12.5	17.9	3.9		2.8
Q2	3.3	5.5	241.7		9.1	68.8	4.2		-1.3
Q3	2.7	6.4	9.5		10.4	13.1	6.1		3.8
Q4	2.5	6.4	115.4		10.2	54.6	5.9		10.9
2020
Q1	-5.1	3.5	330.7		17.4	94.2	8.8		7.5
Q2	-18.4	14.7	-71.6		6.3	-34.6	2.4		2.2
Q3	-6.1	11.0	13.8		11.8	0.7	11.7		1.9
Q4	-8.5	17.2	-56.1		19.3	-18.8	5.6		4.2
2021
Q1	-10.0	16.6	-77.4		8.4	-43.6	13.6		3.7
Q2	21.9	4.8	11.8		24.3	16.9	23.0		17.3
Q3	11.0	1.4	-21.2		17.1	12.9	13.8		18.3
Q4	14.1	3.8	1.6		8.1	1.3	15.3		15.5
2022
Q1	19.9	-0.9	16.5		14.1	22.5	8.3		6.0
Q2	9.5	2.1	26.8		12.5	22.9	8.2		7.3
Q3	7.2	6.9	39.7		16.6	26.1	9.2		-0.3
Q4	8.2	3.9	-30.4		11.0	-0.0	8.8		-2.5
2023
Q1	7.4	2.4	5.0		4.1	8.1	-0.2		0.6
Q2	6.5	2.8	-9.0		-5.8	-0.3	-3.9		5.0
Q3	1.7	4.8	-19.4		-10.0	-7.6	-8.4		7.7
Q4	4.0	7.0	33.1		-10.3	5.2	-9.1		8.3
2024
Q1	3.0	3.9	-4.1		-0.3	5.2	-4.5		4.9
Q2	2.4	6.0	-64.6		18.5	10.5	-3.0		-0.3
Q3	1.4	5.4	13.6		10.8	13.4	3.2		3.1
Q4	2.3	2.0	-37.3		17.9	-1.3	9.2		-5.2
2025
Q1	2.5	4.5	50.9		23.3	13.3	22.2		-5.0
¹Chain linked series not additive

Open in Excel: Quarterly National Accounts Q1 2025 Table 3.3 (XLS 21KB)

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Table 3.4 Expenditure on Gross National Product at Current Market Prices - Seasonally Adjusted

Table 3.4 Expenditure on Gross National Product at Current Market Prices - Seasonally Adjusted									€million
Period	Personal Consumption of Goods and Services	Net Exp. by Central and Local Government on Current Goods and Services	Gross Domestic Fixed Capital Formation	Value of Physical Changes in Stocks	Exports of Goods and Services	Imports of Goods and Services	GDP at Current Market Prices	Net Factor Income from Rest of World	GNP at Current Market Prices
2019
Q1	27,759	8,880	18,729	1,036	110,567	-77,536	88,519	-21,008	67,511
Q2	28,018	9,011	61,382	-318	113,876	-123,534	89,588	-22,965	66,623
Q3	28,022	9,186	21,991	1,174	117,124	-86,025	91,617	-22,852	68,765
Q4	28,279	9,165	91,334	-105	120,831	-158,914	93,251	-24,191	69,060
2020
Q1	26,869	9,477	80,017	2,087	129,862	-149,406	97,439	-23,213	74,226
Q2	22,649	10,296	17,383	1,098	119,505	-81,442	89,470	-23,189	66,281
Q3	26,324	10,383	24,032	407	125,207	-84,935	99,906	-30,891	69,016
Q4	25,739	10,788	36,499	716	142,994	-120,282	96,196	-27,213	68,983
2021
Q1	24,558	10,859	18,710	1,950	138,233	-88,371	106,559	-32,246	74,312
Q2	28,245	11,134	20,294	70	146,802	-95,871	110,397	-31,746	78,651
Q3	30,056	11,418	20,792	2,944	152,188	-100,951	115,689	-33,035	82,654
Q4	30,536	11,171	38,964	-153	159,931	-125,350	115,684	-32,518	83,166
2022
Q1	31,642	11,862	23,167	1,649	163,445	-109,767	122,713	-36,967	85,746
Q2	33,036	11,893	26,925	4,008	176,397	-122,531	129,431	-36,356	93,075
Q3	34,406	12,159	30,051	3,497	186,908	-131,558	135,429	-45,602	89,828
Q4	35,442	12,732	30,261	-69	185,816	-133,632	133,092	-46,638	86,453
2023
Q1	36,255	12,939	25,055	2,667	177,130	-126,614	127,513	-38,560	88,953
Q2	37,802	13,088	25,601	5,507	170,851	-125,942	129,173	-28,004	101,169
Q3	38,768	13,308	25,507	4,125	169,898	-126,397	126,559	-27,780	98,779
Q4	39,610	13,862	42,242	3,752	170,326	-140,626	127,254	-27,813	99,442
2024
Q1	39,891	13,805	24,980	1,653	180,520	-133,159	127,098	-28,673	98,425
Q2	40,380	14,190	9,298	802	205,453	-140,594	128,359	-24,951	103,408
Q3	40,494	14,321	29,662	688	193,874	-143,886	134,969	-29,671	105,298
Q4	41,402	14,425	27,539	-1,964	207,414	-146,561	141,403	-46,476	94,927
2025
Q1	41,982	14,652	39,684	-3,534	225,223	-154,493	160,216	-62,839	97,377

Percentage change on previous quarter
2019
Q1	2.2	7.5	-52.6		2.2	-21.1	4.0		11.8
Q2	0.9	1.5	227.7		3.0	59.3	1.2		-1.3
Q3	0.0	1.9	-64.2		2.9	-30.4	2.3		3.2
Q4	0.9	-0.2	315.3		3.2	84.7	1.8		0.4
2020
Q1	-5.0	3.4	-12.4		7.5	-6.0	4.5		7.5
Q2	-15.7	8.6	-78.3		-8.0	-45.5	-8.2		-10.7
Q3	16.2	0.8	38.3		4.8	4.3	11.7		4.1
Q4	-2.2	3.9	51.9		14.2	41.6	-3.7		-0.0
2021
Q1	-4.6	0.7	-48.7		-3.3	-26.5	10.8		7.7
Q2	15.0	2.5	8.5		6.2	8.5	3.6		5.8
Q3	6.4	2.6	2.5		3.7	5.3	4.8		5.1
Q4	1.6	-2.2	87.4		5.1	24.2	-0.0		0.6
2022
Q1	3.6	6.2	-40.5		2.2	-12.4	6.1		3.1
Q2	4.4	0.3	16.2		7.9	11.6	5.5		8.5
Q3	4.1	2.2	11.6		6.0	7.4	4.6		-3.5
Q4	3.0	4.7	0.7		-0.6	1.6	-1.7		-3.8
2023
Q1	2.3	1.6	-17.2		-4.7	-5.3	-4.2		2.9
Q2	4.3	1.2	2.2		-3.5	-0.5	1.3		13.7
Q3	2.6	1.7	-0.4		-0.6	0.4	-2.0		-2.4
Q4	2.2	4.2	65.6		0.3	11.3	0.5		0.7
2024
Q1	0.7	-0.4	-40.9		6.0	-5.3	-0.1		-1.0
Q2	1.2	2.8	-62.8		13.8	5.6	1.0		5.1
Q3	0.3	0.9	219.0		-5.6	2.3	5.1		1.8
Q4	2.2	0.7	-7.2		7.0	1.9	4.8		-9.8
2025
Q1	1.4	1.6	44.1		8.6	5.4	13.3		2.6

Open in Excel: Quarterly National Accounts Q1 2025 Table 3.4 (XLS 18KB)

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Table 3.5 Expenditure on Gross National Product at Constant Market Prices (Chain linked annually and referenced to year 2022)¹ - Seasonally Adjusted

Table 3.5 Expenditure on Gross National Product at Constant Market Prices (Chain linked annually and referenced to year 2022)¹ - Seasonally Adjusted									€million
Period	Personal Consumption of Goods and Services	Net Exp. by Central and Local Government on Current Goods and Services	Gross Domestic Fixed Capital Formation	Value of Physical Changes in Stocks	Exports of Goods and Services	Imports of Goods and Services	GDP at Constant Market Prices	Net Factor Income from Rest of World	GNP at Constant Market Prices
2019
Q1	30,741	9,764	21,792	992	115,989	-82,685	95,263	-21,421	73,842
Q2	31,031	9,907	65,708	-232	119,224	-130,290	96,743	-23,605	73,138
Q3	30,827	10,143	24,648	1,078	122,308	-91,824	97,973	-23,450	74,523
Q4	31,023	9,911	93,916	-112	127,295	-162,536	100,163	-24,051	76,112
2020
Q1	29,389	10,167	83,640	1,934	137,223	-158,289	103,585	-23,920	79,665
Q2	25,307	11,339	19,704	1,191	125,920	-86,260	96,869	-24,444	72,425
Q3	28,773	11,322	27,374	400	135,711	-92,833	108,413	-33,360	75,053
Q4	28,242	11,586	40,820	714	152,461	-129,489	105,465	-26,556	78,909
2021
Q1	26,669	11,925	20,566	1,857	147,004	-91,815	115,627	-33,739	81,888
Q2	30,739	11,882	22,065	-44	156,905	-100,600	119,675	-34,335	85,340
Q3	31,901	11,536	21,525	3,049	159,191	-104,671	122,426	-34,676	87,751
Q4	32,104	11,825	41,997	-180	164,403	-129,874	121,871	-30,472	91,399
2022
Q1	32,218	11,916	23,762	1,572	168,143	-112,669	125,452	-37,647	87,805
Q2	33,478	12,147	27,315	3,935	176,613	-122,963	129,585	-37,974	91,611
Q3	34,340	12,226	29,775	3,280	184,826	-131,818	132,906	-46,491	86,415
Q4	34,617	12,308	29,692	-122	183,290	-129,369	133,395	-43,556	89,838
2023
Q1	34,784	12,350	24,722	2,630	173,864	-122,194	124,572	-36,090	88,482
Q2	35,408	12,506	24,695	5,411	166,340	-122,096	124,727	-28,645	96,082
Q3	35,143	12,786	24,024	4,039	165,987	-121,724	121,942	-28,283	93,659
Q4	35,874	13,001	40,208	3,206	163,747	-137,271	120,384	-24,082	96,302
2024
Q1	35,943	12,985	23,624	1,425	174,455	-128,846	119,406	-25,824	93,582
Q2	36,120	13,220	8,606	669	197,036	-134,619	121,023	-25,259	95,764
Q3	35,796	13,385	27,214	455	183,832	-137,852	125,599	-29,577	96,022
Q4	36,633	13,372	24,947	-2,050	194,304	-134,684	131,844	-40,763	91,081
2025
Q1	36,854	13,464	35,204	-3,729	212,479	-145,448	144,644	-55,476	89,167

Percentage change on previous quarter
2019
Q1	1.3	5.2	-50.4		0.6	-20.5	1.2		8.0
Q2	0.9	1.5	201.5		2.8	57.6	1.6		-1.0
Q3	-0.7	2.4	-62.5		2.6	-29.5	1.3		1.9
Q4	0.6	-2.3	281.0		4.1	77.0	2.2		2.1
2020
Q1	-5.3	2.6	-10.9		7.8	-2.6	3.4		4.7
Q2	-13.9	11.5	-76.4		-8.2	-45.5	-6.5		-9.1
Q3	13.7	-0.1	38.9		7.8	7.6	11.9		3.6
Q4	-1.8	2.3	49.1		12.3	39.5	-2.7		5.1
2021
Q1	-5.6	2.9	-49.6		-3.6	-29.1	9.6		3.8
Q2	15.3	-0.4	7.3		6.7	9.6	3.5		4.2
Q3	3.8	-2.9	-2.4		1.5	4.0	2.3		2.8
Q4	0.6	2.5	95.1		3.3	24.1	-0.5		4.2
2022
Q1	0.4	0.8	-43.4		2.3	-13.2	2.9		-3.9
Q2	3.9	1.9	14.9		5.0	9.1	3.3		4.3
Q3	2.6	0.6	9.0		4.7	7.2	2.6		-5.7
Q4	0.8	0.7	-0.3		-0.8	-1.9	0.4		4.0
2023
Q1	0.5	0.3	-16.7		-5.1	-5.5	-6.6		-1.5
Q2	1.8	1.3	-0.1		-4.3	-0.1	0.1		8.6
Q3	-0.7	2.2	-2.7		-0.2	-0.3	-2.2		-2.5
Q4	2.1	1.7	67.4		-1.3	12.8	-1.3		2.8
2024
Q1	0.2	-0.1	-41.2		6.5	-6.1	-0.8		-2.8
Q2	0.5	1.8	-63.6		12.9	4.5	1.4		2.3
Q3	-0.9	1.2	216.2		-6.7	2.4	3.8		0.3
Q4	2.3	-0.1	-8.3		5.7	-2.3	5.0		-5.1
2025
Q1	0.6	0.7	41.1		9.4	8.0	9.7		-2.1
¹Chain linked series not additive

Open in Excel: Quarterly National Accounts Q1 2025 Table 3.5 (XLS 20KB)

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Table 3.6 Components of Gross Domestic Fixed Capital Formation at Current Market Prices - Non-Seasonally Adjusted

Table 3.6 Components of Gross Domestic Fixed Capital Formation at Current Market Prices - Non-Seasonally Adjusted								€million
Period	Dwellings	Improvements	Other Building and Construction	Transfer Costs	Machinery and Equipment	of which Other Transport Equipment	Intangible Assets	Gross Domestic Fixed Capital Formation
2019	4,344	2,880	16,229	1,505	25,935	17,279	142,663	193,555
2020	4,415	2,705	14,871	1,162	17,782	10,168	117,053	157,987
2021	4,412	5,114	15,426	1,472	20,591	11,284	51,991	99,007
2022	7,530	5,913	15,973	1,891	26,620	14,391	52,379	110,306
2023	8,291	7,627	14,991	1,541	28,101	15,213	57,679	118,231
2024	8,235	7,903	15,398	1,598	26,231	12,832	32,345	91,709

2019
Q1	959	699	3,091	333	6,353	3,618	6,348	17,782
Q2	1,015	683	3,407	341	6,114	4,259	49,424	60,983
Q3	1,253	808	4,503	381	6,203	4,241	8,712	21,860
Q4	1,117	691	5,228	450	7,264	5,161	78,178	92,929
	4,344	2,880	16,229	1,505	25,935	17,279	142,663	193,555
2020
Q1	1,163	491	3,621	375	n/a¹	n/a¹	n/a¹	79,024
Q2	683	550	2,351	193	n/a¹	n/a¹	n/a¹	17,149
Q3	1,159	774	4,214	216	4,710	2,469	12,813	23,886
Q4	1,410	889	4,685	378	6,065	4,355	24,501	37,928
	4,415	2,705	14,871	1,162	17,782	10,168	117,053	157,987
2021
Q1	911	871	2,584	331	5,227	2,769	8,060	17,985
Q2	1,096	1,303	3,124	360	5,319	3,186	8,818	20,020
Q3	1,058	1,358	4,493	332	3,935	1,390	9,495	20,671
Q4	1,347	1,582	5,224	450	6,110	3,938	25,618	40,331
	4,412	5,114	15,426	1,472	20,591	11,284	51,991	99,007
2022
Q1	1,500	1,296	3,226	416	5,654	2,882	10,273	22,366
Q2	1,969	1,420	3,610	437	7,085	3,388	12,223	26,744
Q3	2,011	1,535	4,545	591	6,477	3,314	14,671	29,829
Q4	2,051	1,661	4,593	448	7,404	4,808	15,212	31,367
	7,530	5,913	15,973	1,891	26,620	14,391	52,379	110,306
2023
Q1	1,801	1,822	3,230	371	6,815	3,086	10,258	24,298
Q2	1,891	1,790	3,423	366	7,568	4,415	10,516	25,554
Q3	2,310	1,907	4,156	389	6,083	2,723	10,316	25,161
Q4	2,289	2,108	4,182	415	7,635	4,989	26,589	43,218
	8,291	7,627	14,991	1,541	28,101	15,213	57,679	118,231
2024
Q1	1,700	1,871	2,901	337	5,852	1,770	11,704	24,365
Q2	1,890	1,803	3,498	383	8,018	4,698	-6,148	9,444
Q3	2,619	2,070	4,442	376	6,580	3,442	13,236	29,324
Q4	2,026	2,159	4,555	501	5,781	2,922	13,554	28,577
	8,235	7,903	15,398	1,598	26,231	12,832	32,345	91,709
2025
Q1	1,827	1,966	3,595	404	6,759	2,948	24,384	38,934

Percentage change on corresponding period of previous year
2019	11.4	-10.6	15.2	8.4	-2.1	0.7	221.2	107.0
2020	1.6	-6.1	-8.4	-22.8	-31.4	-41.2	-18.0	-18.4
2021	-0.1	89.1	3.7	26.7	15.8	11.0	-55.6	-37.3
2022	70.7	15.6	3.5	28.4	29.3	27.5	0.7	11.4
2023	10.1	29.0	-6.1	-18.5	5.6	5.7	10.1	7.2
2024	-0.7	3.6	2.7	3.7	-6.7	-15.6	-43.9	-22.4

2019
Q1	18.3	-20.8	16.5	12.5	12.2	28.3	18.6	13.6
Q2	3.2	-18.9	10.1	-1.0	3.4	23.0	685.7	249.1
Q3	14.7	3.7	15.0	10.6	-4.2	-1.3	26.3	12.1
Q4	10.0	-4.1	18.3	11.6	-13.9	-21.5	202.2	127.4
2020
Q1	21.2	-29.8	17.1	12.7	n/a¹	n/a¹	n/a¹	344.4
Q2	-32.7	-19.4	-31.0	-43.3	n/a¹	n/a¹	n/a¹	-71.9
Q3	-7.5	-4.1	-6.4	-43.3	-24.1	-41.8	47.1	9.3
Q4	26.2	28.6	-10.4	-16.1	-16.5	-15.6	-68.7	-59.2
2021
Q1	-21.6	77.5	-28.6	-11.6	n/a¹	n/a¹	n/a¹	-77.2
Q2	60.4	136.8	32.9	86.2	n/a¹	n/a¹	n/a¹	16.7
Q3	-8.6	75.4	6.6	53.5	-16.5	-43.7	-25.9	-13.5
Q4	-4.5	77.9	11.5	19.0	0.7	-9.6	4.6	6.3
2022
Q1	64.6	48.9	24.8	25.4	8.2	4.1	27.5	24.4
Q2	79.6	9.0	15.5	21.5	33.2	6.3	38.6	33.6
Q3	90.0	13.0	1.1	78.1	64.6	138.4	54.5	44.3
Q4	52.3	5.0	-12.1	-0.5	21.2	22.1	-40.6	-22.2
2023
Q1	20.0	40.6	0.1	-10.7	20.5	7.1	-0.1	8.6
Q2	-3.9	26.0	-5.2	-16.3	6.8	30.3	-14.0	-4.4
Q3	14.9	24.2	-8.5	-34.1	-6.1	-17.8	-29.7	-15.6
Q4	11.6	26.9	-8.9	-7.3	3.1	3.8	74.8	37.8
2024
Q1	-5.6	2.7	-10.2	-9.1	-14.1	-42.6	14.1	0.3
Q2	-0.1	0.7	2.2	4.8	5.9	6.4	..²	-63.0
Q3	13.4	8.6	6.9	-3.2	8.2	26.4	28.3	16.5
Q4	-11.5	2.4	8.9	20.7	-24.3	-41.4	-49.0	-33.9
2025
Q1	7.5	5.1	23.9	19.7	15.5	66.6	108.3	59.8
¹Data suppressed for confidentiality reasons
²Percentage change calculations based on variables in money terms that have values of opposite sign in consecutive reference periods are not meaningful

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Table 3.7 Components of Gross Domestic Fixed Capital Formation at Constant Prices (Chain linked annually and referenced to year 2022)¹ - Non-Seasonally Adjusted

Table 3.7 Components of Gross Domestic Fixed Capital Formation at Constant Prices (Chain linked annually and referenced to year 2022)¹ - Non-Seasonally Adjusted								€million
Period	Dwellings	Improvements	Other Building and Construction	Transfer Costs	Machinery and Equipment	of which Other Transport Equipment	Intangible Assets	Gross Domestic Fixed Capital Formation
2019	6,067	3,707	20,888	1,861	27,088	18,894	146,156	210,129
2020	5,837	3,380	18,587	1,422	18,701	10,980	124,350	175,522
2021	5,466	5,760	17,384	1,654	21,449	11,862	54,589	106,416
2022	7,530	5,913	15,973	1,891	26,620	14,391	52,379	110,306
2023	7,999	7,260	14,268	1,485	26,619	14,241	55,763	113,393
2024	7,399	7,335	14,253	1,420	24,708	11,829	29,433	84,548

2019
Q1	1,355	937	4,132	416	6,647	3,973	6,711	19,873
Q2	1,426	898	4,479	424	6,353	4,668	51,314	66,922
Q3	1,735	1,044	5,849	467	6,441	4,639	8,994	23,911
Q4	1,551	827	6,427	554	7,649	5,614	79,137	99,424
	6,067	3,707	20,888	1,861	27,088	18,894	146,156	210,129
2020
Q1	1,553	589	4,458	461	n/a²	n/a²	n/a²	85,591
Q2	906	766	3,156	238	n/a²	n/a²	n/a²	19,024
Q3	1,528	948	5,226	265	4,962	2,670	14,564	27,219
Q4	1,849	1,077	5,748	459	6,360	4,688	27,820	43,687
	5,837	3,380	18,587	1,422	18,701	10,980	124,350	175,522
2021
Q1	1,151	1,018	3,081	393	5,486	2,946	8,170	19,307
Q2	1,379	1,560	3,700	417	5,552	3,370	8,785	21,266
Q3	1,311	1,509	5,004	367	4,109	1,459	9,463	21,461
Q4	1,625	1,672	5,599	477	6,303	4,088	28,172	44,382
	5,466	5,760	17,384	1,654	21,449	11,862	54,589	106,416
2022
Q1	1,560	1,327	3,340	429	5,773	2,950	10,083	22,495
Q2	2,009	1,415	3,620	443	7,140	3,430	12,325	26,955
Q3	1,997	1,558	4,549	582	6,445	3,299	14,867	29,984
Q4	1,964	1,613	4,464	436	7,262	4,712	15,104	30,873
	7,530	5,913	15,973	1,891	26,620	14,391	52,379	110,306
2023
Q1	1,795	1,779	3,130	362	6,552	2,961	10,004	23,622
Q2	1,850	1,713	3,266	358	7,202	4,166	10,136	24,525
Q3	2,211	1,800	3,939	375	5,771	2,546	10,072	24,169
Q4	2,144	1,968	3,933	389	7,093	4,568	25,550	41,077
	7,999	7,260	14,268	1,485	26,619	14,241	55,763	113,393
2024
Q1	1,566	1,789	2,752	310	5,578	1,657	10,668	22,662
Q2	1,724	1,692	3,273	347	7,546	4,364	-5,905	8,677
Q3	2,331	1,891	4,071	331	6,208	3,171	12,620	27,452
Q4	1,778	1,964	4,157	431	5,377	2,637	12,049	25,757
	7,399	7,335	14,253	1,420	24,708	11,829	29,433	84,548
2025
Q1	1,588	1,774	3,252	345	6,304	2,687	20,932	34,196

Percentage change on corresponding period of previous year
2019	13.4	-16.2	8.0	4.5	-2.1	-0.3	208.4	99.7
2020	-3.8	-8.8	-11.0	-23.6	-31.0	-41.9	-14.9	-16.5
2021	-6.4	70.4	-6.5	16.3	14.7	8.0	-56.1	-39.4
2022	37.8	2.7	-8.1	14.3	24.1	21.3	-4.0	3.7
2023	6.2	22.8	-10.7	-21.5	-0.0	-1.0	6.5	2.8
2024	-7.5	1.0	-0.1	-4.4	-7.2	-16.9	-47.2	-25.4

2019
Q1	18.0	-24.6	8.8	6.3	12.3	27.1	20.1	12.5
Q2	4.9	-22.7	4.7	-4.8	2.9	22.0	672.2	241.7
Q3	17.3	-2.1	9.2	7.1	-4.3	-2.3	21.9	9.5
Q4	13.7	-13.3	8.9	9.1	-13.6	-22.6	184.9	115.4
2020
Q1	14.6	-37.1	7.9	10.7	n/a²	n/a²	n/a²	330.7
Q2	-36.5	-14.7	-29.5	-43.9	n/a²	n/a²	n/a²	-71.6
Q3	-11.9	-9.2	-10.7	-43.3	-23.0	-42.4	61.9	13.8
Q4	19.2	30.1	-10.6	-17.2	-16.8	-16.5	-64.8	-56.1
2021
Q1	-25.9	72.8	-30.9	-14.7	n/a²	n/a²	n/a²	-77.4
Q2	52.1	103.7	17.2	75.5	n/a²	n/a²	n/a²	11.8
Q3	-14.2	59.2	-4.2	38.5	-17.2	-45.4	-35.0	-21.2
Q4	-12.1	55.4	-2.6	4.1	-0.9	-12.8	1.3	1.6
2022
Q1	35.6	30.3	8.4	9.2	5.2	0.1	23.4	16.5
Q2	45.7	-9.3	-2.2	6.2	28.6	1.8	40.3	26.8
Q3	52.3	3.2	-9.1	58.7	56.9	126.2	57.1	39.7
Q4	20.9	-3.6	-20.3	-8.6	15.2	15.3	-46.4	-30.4
2023
Q1	15.0	34.0	-6.3	-15.6	13.5	0.4	-0.8	5.0
Q2	-7.9	21.0	-9.8	-19.2	0.9	21.5	-17.8	-9.0
Q3	10.7	15.6	-13.4	-35.5	-10.5	-22.8	-32.3	-19.4
Q4	9.1	22.0	-11.9	-10.8	-2.3	-3.0	69.2	33.1
2024
Q1	-12.8	0.6	-12.1	-14.4	-14.9	-44.0	6.6	-4.1
Q2	-6.8	-1.2	0.2	-3.0	4.8	4.7	..³	-64.6
Q3	5.5	5.0	3.4	-11.7	7.6	24.6	25.3	13.6
Q4	-17.0	-0.2	5.7	10.7	-24.2	-42.3	-52.8	-37.3
2025
Q1	1.5	-0.8	18.2	11.3	13.0	62.2	96.2	50.9
¹Chain linked series not additive
²Data suppressed for confidentiality reasons
³Percentage change calculations based on variables in money terms that have values of opposite sign in consecutive reference periods are not meaningful

Open in Excel: Quarterly National Accounts Q1 2025 Table 3.7 (XLS 19KB)

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Table 3.8 Components of Gross Domestic Fixed Capital Formation at Current Market Prices & Constant Prices (Chain linked annually and referenced to year 2022)¹ - Seasonally Adjusted

Table 3.8 Components of Gross Domestic Fixed Capital Formation at Current Market Prices & Constant Prices (Chain linked annually and referenced to year 2022)¹ - Seasonally Adjusted								€million
	Current Market Prices				Constant Market Prices
Period	All Building and Construction (including Dwellings, Improvements, other B&C and Transfer Costs)²	Machinery and Equipment	Intangible Assets	Gross Domestic Fixed Capital Formation	All Building and Construction (including Dwellings, Improvements, other B&C and Transfer Costs)²	Machinery and Equipment	Intangible Assets	Gross Domestic Fixed Capital Formation
2019
Q1	5,875	6,591	6,263	18,729	8,000	6,881	6,910	21,792
Q2	5,966	6,055	49,361	61,382	8,007	6,473	51,229	65,708
Q3	6,506	6,815	8,670	21,991	8,343	7,176	9,129	24,648
Q4	6,485	6,434	78,415	91,334	8,081	6,689	79,146	93,916
2020
Q1	6,557	n/a³	n/a³	80,017	8,379	n/a³	n/a³	83,640
Q2	4,150	n/a³	n/a³	17,383	5,647	n/a³	n/a³	19,704
Q3	5,912	5,348	12,772	24,032	7,246	5,599	14,529	27,374
Q4	6,473	5,294	24,732	36,499	7,928	5,587	27,306	40,820
2021
Q1	5,419	5,418	7,873	18,710	6,719	5,699	8,147	20,566
Q2	6,336	5,235	8,723	20,294	7,737	5,589	8,740	22,065
Q3	6,721	4,602	9,469	20,792	7,468	4,633	9,424	21,525
Q4	7,625	5,386	25,953	38,964	8,229	5,495	28,274	41,997
2022
Q1	7,361	5,794	10,013	23,167	7,826	5,983	9,953	23,762
Q2	7,962	6,853	12,111	26,925	8,142	6,972	12,201	27,315
Q3	8,105	7,282	14,664	30,051	7,909	7,094	14,772	29,775
Q4	7,877	6,761	15,623	30,261	7,580	6,652	15,460	29,692
2023
Q1	8,190	6,897	9,967	25,055	8,158	6,738	9,826	24,722
Q2	7,934	7,248	10,419	25,601	7,761	6,918	10,016	24,695
Q3	8,207	6,977	10,323	25,507	7,586	6,425	10,013	24,024
Q4	8,198	7,037	27,007	42,242	7,687	6,604	25,918	40,208
2024
Q1	7,758	5,877	11,346	24,980	7,398	5,748	10,477	23,624
Q2	7,949	7,636	-6,287	9,298	7,505	7,150	-6,049	8,606
Q3	8,880	7,518	13,264	29,662	7,828	6,854	12,531	27,214
Q4	8,458	5,220	13,861	27,539	7,653	4,990	12,304	24,947
2025
Q1	8,780	6,781	24,124	39,684	7,916	6,485	20,803	35,204

Percentage change on previous quarter
2019
Q1	3.1	-14.3	-76.0	-52.6	5.0	-16.0	-75.4	-50.4
Q2	1.6	-8.1	688.1	227.7	0.1	-5.9	641.3	201.5
Q3	9.1	12.5	-82.4	-64.2	4.2	10.9	-82.2	-62.5
Q4	-0.3	-5.6	804.5	315.3	-3.1	-6.8	767.0	281.0
2020
Q1	1.1	n/a³	n/a³	-12.4	3.7	n/a³	n/a³	-10.9
Q2	-36.7	n/a³	n/a³	-78.3	-32.6	n/a³	n/a³	-76.4
Q3	42.5	n/a³	n/a³	38.3	28.3	n/a³	n/a³	38.9
Q4	9.5	-1.0	93.6	51.9	9.4	-0.2	87.9	49.1
2021
Q1	-16.3	2.3	-68.2	-48.7	-15.2	2.0	-70.2	-49.6
Q2	16.9	-3.4	10.8	8.5	15.1	-1.9	7.3	7.3
Q3	6.1	-12.1	8.5	2.5	-3.5	-17.1	7.8	-2.4
Q4	13.4	17.0	174.1	87.4	10.2	18.6	200.0	95.1
2022
Q1	-3.5	7.6	-61.4	-40.5	-4.9	8.9	-64.8	-43.4
Q2	8.2	18.3	21.0	16.2	4.0	16.5	22.6	14.9
Q3	1.8	6.3	21.1	11.6	-2.9	1.7	21.1	9.0
Q4	-2.8	-7.2	6.5	0.7	-4.2	-6.2	4.7	-0.3
2023
Q1	4.0	2.0	-36.2	-17.2	7.6	1.3	-36.4	-16.7
Q2	-3.1	5.1	4.5	2.2	-4.9	2.7	1.9	-0.1
Q3	3.4	-3.7	-0.9	-0.4	-2.3	-7.1	-0.0	-2.7
Q4	-0.1	0.9	161.6	65.6	1.3	2.8	158.9	67.4
2024
Q1	-5.4	-16.5	-58.0	-40.9	-3.7	-13.0	-59.6	-41.2
Q2	2.5	29.9	..⁴	-62.8	1.4	24.4	..⁴	-63.6
Q3	11.7	-1.5	..⁴	219.0	4.3	-4.1	..⁴	216.2
Q4	-4.8	-30.6	4.5	-7.2	-2.2	-27.2	-1.8	-8.3
2025
Q1	3.8	29.9	74.0	44.1	3.4	29.9	69.1	41.1
¹Chain linked series not additive
²The results are aggregated to this level as some of the components, individually, do not have identifiable seasonality present
³Data suppressed for confidentiality reasons
⁴Percentage change calculations based on variables in money terms that have values of opposite sign in consecutive reference periods are not meaningful