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| Table 1.1 GDP and GNP at constant 2023 prices, Q2 20251 | ||
| Amount €m | Quarterly % change | |
| Gross Domestic Product | 153,420 | 0.2 |
| Gross National Product | 106,957 | 15.7 |
| Modified Final Domestic Demand | 70,853 | 0.6 |
| 1Constant Market Prices, chain linked annually and referenced to year 2023, seasonally adjusted | ||
Updated estimates for the second quarter of 2025 indicate that GDP rose by 0.2% in real terms in Q2 2025 compared to the previous quarter while GNP increased by 15.7%. Modified Domestic Demand, a broad measure of underlying domestic activity that covers personal, government and investment spending grew by 0.6% in Q2.
| GDP | GNP | MDD | |
| Q1 2023 | -1.65740169998889 | 0.234186288437366 | 7.50002473409273 |
| Q2 2023 | 0.566904326310547 | 10.9359886560692 | -1.17506998143707 |
| Q3 2023 | -2.56188541185628 | -3.34825163166784 | -1.23544002888023 |
| Q4 2023 | -2.54160987355367 | 3.17780851540428 | 2.49262751026114 |
| Q1 2024 | 1.73103951417877 | -3.16786145300865 | 0.34704157900749 |
| Q2 2024 | 0.445911423746348 | 5.75441928943787 | -0.221073446732423 |
| Q3 2024 | 4.9999007328265 | 0.176696857121317 | 1.09154934594924 |
| Q4 2024 | 4.32916051653549 | -4.32880621707439 | -0.00353152135103008 |
| Q1 2025 | 7.53285450055727 | -6.59646679798276 | 2.55034577977311 |
| Q2 2025 | 0.213532856322951 | 15.700309766754 | 0.583993940833927 |
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 | Arts, Entertainment & Other Services | Agriculture, Forestry & Fishing | |
| Q1 2025 | 53.3977933339 | 29.2336828927 | 14.9560536538 | 13.2283243913 | 12.310291382 | 7.3788181075 | 6.6237812675 | 3.7744212896 | 1.3982080099 | 1.0495745648 |
| Q2 2025 | 54.7427626625 | 29.7525332766 | 14.2207830559 | 13.2738330894 | 12.291903106 | 7.5916962596 | 6.3979134492 | 4.0023218591 | 1.3802954747 | 1.0238778569 |
Get the data: NAQ02
The MNE dominated sectors of the economy expanded by 1.1% in the second quarter of 2025. The Industry (excluding Construction) sector expanded by 2.5%, while the Information & Communication sector grew by 1.8% in the quarter. Overall, the non-MNE sectors contracted by 0.1%. However, there was robust growth in the domestic facing Construction and Real Estate Activities sectors which increased by 6.0% and 2.9% respectively. More modest growth was seen in the Distribution, Transport, Hotels & Restaurants sector which grew by 0.3%. Notable declines were seen in Professional & Administrative Services which decreased by 4.9% and Financial & Insurance Activities which fell by 3.4%. Other sectors with quarter-on-quarter decreases included Agriculture, Forestry & Fishing (-2.4%), Arts & Entertainment (-1.3%) and Public Administration, Education & Health (-0.1%). (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 2023 | 38.3757323049 | 12.8663250073 | 31.2505156004 | 0.8237170709 | 50.4521385048 | 67.8406647428 | 133.1777472953 |
| Q2 2023 | 38.5101402108 | 13.0395761306 | 28.9077774931 | 3.5361399697 | 48.3246059312 | 67.0434894562 | 133.9327377064 |
| Q3 2023 | 38.032221801 | 13.2263405102 | 27.3728672609 | 4.3061947945 | 47.3866368567 | 66.2152073507 | 130.5015344374 |
| Q4 2023 | 38.8885801329 | 14.0424605958 | 43.2771222657 | 0.6216971379 | 28.0324005818 | 67.8657058251 | 127.184694553 |
| Q1 2024 | 39.1336687969 | 13.5518957052 | 27.6693402462 | 1.0912413682 | 48.8546994587 | 68.1012280422 | 129.3863118717 |
| Q2 2024 | 39.4855326734 | 13.9081546411 | 10.9979389821 | 1.8231866632 | 62.7727339406 | 67.9506743101 | 129.9632602171 |
| Q3 2024 | 39.5668658597 | 14.0691200474 | 29.433503626 | 1.8424908712 | 48.484803369 | 68.6923894511 | 136.4612942171 |
| Q4 2024 | 40.2045286728 | 14.4117277218 | 25.3516731908 | 0.5005761802 | 62.32766606 | 68.6899635647 | 142.3689226867 |
| Q1 2025 | 40.2954896937 | 14.2286121039 | 43.95210263 | -4.8654896348 | 61.7550982606 | 70.4417951516 | 153.0933664867 |
| Q2 2025 | 40.6871581986 | 14.5903446125 | 27.7246311267 | 1.6778994362 | 69.9818523135 | 70.8531709671 | 153.420271125 |
Get the data: NAQ03, NAQ04, NAQ05
On the expenditure side of the accounts (Table 3.5), Exports decreased by 4.0% in Q2 2025 compared with Q1 2025 while Imports decreased by 10.8% which meant that overall net exports for the quarter expanded by 13.3%. Capital Investment decreased by €9.7 billion during the quarter (a 24.8% decrease quarter-on-quarter) with the Capital Formation element decreasing by €16.2 billion (a 36.9% decrease quarter-on-quarter) reflecting lower levels of investment in Intangible Assets compared with the previous quarter. Personal Consumption Expenditure grew by 1.0% in Q2 2025 compared with the previous quarter, while Government Expenditure on Current Goods and Services rose by 2.5% quarter-on-quarter. These impacts when combined resulted in an overall increase in Real GDP in Q2 2025 of 0.2%. Final Domestic Demand fell by 15.7% in Q2 compared with the previous quarter, driven by the lower investment in Intangible Assets, while Modified Domestic Demand grew by 0.6% over the same period.
| GDP | Net Factor Income from Rest of World | GNP | |
| Q1 2023 | 133.1777472953 | -42.1459093697 | 91.1546106 |
| Q2 2023 | 133.9327377064 | -32.7884909519 | 101.1232684747 |
| Q3 2023 | 130.5015344374 | -32.7558390998 | 97.737406988 |
| Q4 2023 | 127.184694553 | -26.2478738778 | 100.84331463 |
| Q1 2024 | 129.3863118717 | -31.7375737337 | 97.6487381379 |
| Q2 2024 | 129.9632602171 | -26.6954042559 | 103.2678559612 |
| Q3 2024 | 136.4612942171 | -33.0109671999 | 103.4503270171 |
| Q4 2024 | 142.3689226867 | -43.3967598571 | 98.9721628296 |
| Q1 2025 | 153.0933664867 | -60.6498695174 | 92.4434969693 |
| Q2 2025 | 153.420271125 | -46.4628587723 | 106.9574123527 |
Get the data: NAQ03
Factor income outflows fell significantly by 23.4% in the quarter, a fall of €14.2 billion in money terms compared with the previous quarter, leading to an increase in GNP of 15.7%.
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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