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| Table 1.1 GDP and GNP at constant 2022 prices, Q1 20251 | ||
| Amount €m | Quarterly % change | |
| Gross Domestic Product | 144,644 | 9.7 |
| Gross National Product | 89,167 | -2.1 |
| Modified Final Domestic Demand | 62,670 | 0.8 |
| 1Constant Market Prices, chain linked annually and referenced to year 2022, seasonally adjusted | ||
Provisional estimates for the first quarter of 2025 indicate that GDP rose by 9.7% in real terms in Q1 2025 compared to the previous quarter while GNP fell by 2.1%. Modified Domestic Demand, a broad measure of underlying domestic activity that covers personal, government and investment spending grew by 0.8% in Q1.
| GDP | GNP | MDD | |
| Q1 2022 | 2.9381845052636 | -3.93213495406964 | -0.23217661093764 |
| Q2 2022 | 3.29427173956525 | 4.33351493870728 | 6.13191070181318 |
| Q3 2022 | 2.56308993072081 | -5.67128116680528 | -0.525419497616275 |
| Q4 2022 | 0.367507078848139 | 3.96140441670478 | -1.31136688782462 |
| Q1 2023 | -6.61382592906711 | -1.50917469592206 | 2.09649976744597 |
| Q2 2023 | 0.124021457467705 | 8.58824137073797 | 0.241531008371543 |
| Q3 2023 | -2.23264132747162 | -2.52141336247934 | -0.762823223070719 |
| Q4 2023 | -1.27729889366963 | 2.82194454356601 | 2.31621817474386 |
| Q1 2024 | -0.812939593042827 | -2.8245732418391 | 1.0013171405364 |
| Q2 2024 | 1.35461347873658 | 2.33161378343609 | -0.218227900020407 |
| Q3 2024 | 3.78104720096608 | 0.269901302890863 | 0.916201419465312 |
| Q4 2024 | 4.97214660221061 | -5.14615342557226 | -0.505145575557719 |
| Q1 2025 | 9.70820066965068 | -2.10069811275201 | 0.801978424326899 |
Get the data: NAQ03
| Industry (excl. Construction) | Information & Communication | Professional, Admin & Support Services | Distribution, Transport, Hotels & Restaurants | Public Admin, Education & Health | Real Estate Activities | Financial & Insurance Activities | Construction | Agriculture, Forestry & Fishing | Arts, Entertainment & Other Services | |
| Q4 2024 | 40.9730966977 | 27.6640095323 | 14.0405828888 | 12.0374919363 | 11.8284512771 | 7.4251146014 | 4.3288729174 | 2.9120088922 | 1.5636648246 | 1.4848194718 |
| Q1 2025 | 47.9805990982 | 28.7285684133 | 14.0914539253 | 12.1884385682 | 11.9683068229 | 7.3477188502 | 4.7370281014 | 3.1081125167 | 1.5879161062 | 1.6031954154 |
Get the data: NAQ02
The MNE dominated sectors of the economy expanded by 12.4% in the first quarter of 2025. The Industry (excluding Construction) sector recorded strong growth in Q1 compared to the previous quarter, increasing by 17.1%, while the Information & Communication sector grew by 3.8% in the quarter. The non-MNE sectors also expanded this quarter, increasing by 0.7%. This included robust growth in the domestic facing Construction and Arts & Entertainment sectors which increased by 6.7% and 8.0% respectively. The domestically dominated Distribution, Transport, Hotels & Restaurants sector increased by 1.3% quarter-on-quarter. Other sectors with quarter-on-quarter increases include Financial and Insurance Activities (9.4%), Agriculture, Forestry and Fishing (1.6%), Public Administration, Education & Health (1.2%) and Professional & Administrative Services (0.4%). The Real Estate Activities sector declined by 1.0%. (See Tables 2.5 and 6.3).
| Personal Consumption Expenditure | Government Expenditure | Gross Fixed Capital Formation | Value of Physical Changes in Stocks | Net Exports | Modified Final Domestic Demand | GDP | |
| Q1 2022 | 32.2179436446 | 11.9157784753 | 23.7623243793 | 1.5723776132 | 55.4747069433 | 56.747809246 | 125.4520837721 |
| Q2 2022 | 33.4775502386 | 12.1473294398 | 27.3146298636 | 3.9352383532 | 53.6502448359 | 60.2275342342 | 129.5848163145 |
| Q3 2022 | 34.340490715 | 12.2259694632 | 29.7745925103 | 3.2799068632 | 53.0079022841 | 59.9110870264 | 132.9061916932 |
| Q4 2022 | 34.617472707 | 12.308401509 | 29.691602689 | -0.1216929668 | 53.9208847205 | 59.125432869 | 133.3946313559 |
| Q1 2023 | 34.7838418909 | 12.349650289 | 24.7218831641 | 2.6296438651 | 51.6708443532 | 60.3649974316 | 124.5721426393 |
| Q2 2023 | 35.4079434454 | 12.5064200772 | 24.694811179 | 5.4105571551 | 44.2439253513 | 60.5107976186 | 124.7266388262 |
| Q3 2023 | 35.1426727335 | 12.7861763321 | 24.0238199589 | 4.0388224251 | 44.2632918805 | 60.0492072019 | 121.9419403414 |
| Q4 2023 | 35.87385696 | 13.0006554473 | 40.2079848988 | 3.2058041451 | 26.4756812953 | 61.4400778529 | 120.3843772865 |
| Q1 2024 | 35.9427398615 | 12.9852349024 | 23.6236121834 | 1.4250241851 | 45.608928212 | 62.0552878836 | 119.4057250197 |
| Q2 2024 | 36.1199591833 | 13.2195486663 | 8.6055655848 | 0.6688189741 | 62.4174331076 | 61.919865932 | 121.0232110652 |
| Q3 2024 | 35.7955753595 | 13.38466704 | 27.2137107457 | 0.4548041701 | 45.979781588 | 62.4871766226 | 125.5991557997 |
| Q4 2024 | 36.6331443243 | 13.3718266691 | 24.9468384604 | -2.0498985399 | 59.6194854736 | 62.1715254146 | 131.8441299572 |
| Q1 2025 | 36.8540572666 | 13.4638131634 | 35.2041463154 | -3.7292202889 | 67.0308138213 | 62.6701276345 | 144.6438226646 |
Get the data: NAQ03, NAQ04, NAQ05
On the expenditure side of the accounts (Table 3.5), Exports increased by 9.4% in Q1 2025 compared with Q4 2024 while Imports increased by 8.0% which meant that overall net exports for the quarter expanded by 12.4% or €7.4 billion in money terms quarter-on-quarter. Capital Investment increased by €8.6 billion during the quarter (a 37.5% increase quarter-on-quarter) with the Capital Formation element increasing by €10.3 billion (a 41.1% increase quarter-on-quarter) reflecting higher levels of investment in Intangible Assets compared with the previous quarter. Capital Investment accounted for 38.5% of total domestic demand in Q1 2025. Personal Consumption Expenditure grew by 0.6% in Q1 2025 compared with the previous quarter, while Government Expenditure on Current Goods and Services grew by 0.7% quarter-on-quarter. These impacts when combined resulted in an overall increase in Real GDP in Q1 2025 of 9.7%. Final Domestic Demand grew by 14.1% in Q1 compared with the previous quarter, driven by the higher investment in Intangible Assets, while Modified Domestic Demand grew by 0.8% over the same period.
| GDP | Net Factor Income from Rest of World | GNP | |
| Q1 2022 | 125.4520837721 | -37.6466334894 | 87.8054502827 |
| Q2 2022 | 129.5848163145 | -37.9743037268 | 91.6105125877 |
| Q3 2022 | 132.9061916932 | -46.4911688526 | 86.4150228405 |
| Q4 2022 | 133.3946313559 | -43.5563599838 | 89.838271372 |
| Q1 2023 | 124.5721426393 | -36.089687726 | 88.4824549132 |
| Q2 2023 | 124.7266388262 | -28.6450971143 | 96.0815417119 |
| Q3 2023 | 121.9419403414 | -28.2830114611 | 93.6589288803 |
| Q4 2023 | 120.3843772865 | -24.082445373 | 96.3019319134 |
| Q1 2024 | 119.4057250197 | -25.8239117064 | 93.5818133132 |
| Q2 2024 | 121.0232110652 | -25.2594312939 | 95.7637797712 |
| Q3 2024 | 125.5991557997 | -29.5769083392 | 96.0222474605 |
| Q4 2024 | 131.8441299572 | -40.7633346737 | 91.0807952835 |
| Q1 2025 | 144.6438226646 | -55.4763599287 | 89.1674627359 |
Get the data: NAQ03
Factor income outflows rose significantly by 36.1% in the quarter, a rise of €14.7 billion in money terms compared with the previous quarter, leading to a fall in GNP of 2.1%.
The calculation methods for quarterly accounts are similar to those used in the Annual National Accounts. As some of the available sources are of lesser reliability than those used for the annual national accounts, the quarterly estimates are subject to a greater margin of error than the annual figures. These preliminary estimates will therefore be revised when the next detailed annual results are published.
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