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Quarterly National Accounts Quarter 3 2023

Foreign and Domestic GVA

Multinational sector contracted by 3.8% in Q3 2023 while Non-MNE dominated decreased by 0.7%

Online ISSN: 2009-5775

CSO statistical release, 01 December 2023, 11am

Table 6.1 Gross Value Added for sectors dominated by Foreign-owned MNEs and Other Sectors, Q3 2023¹
	Amount €m	Quarterly % change
Foreign-owned MNE dominated	58,016	-3.8
Other	53,668	-0.7
Total GVA (MNE dominated + Other)	111,684	-2.3
1Constant Market Prices, chain linked annually and referenced to year 2021, seasonally adjusted.

Open in Excel: Quarterly National Accounts Q3 2023 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 fell by 3.8% for the third quarter of 2023, largely driven by a contraction in the Industry (excluding Construction) sector of 3.5% quarter-on-quarter. GVA for the non-MNE dominated sectors of the economy declined by 0.7% over the same period.

Real GVA for the total economy amounted to almost €112 billion in the Q3 2023 reference period, with GVA for MNE dominated sectors representing approximately 51.9% of Total GVA while GVA for the non-MNE dominated sectors represented approximately 48.1% of the total.

	Foreign-owned MNE-dominated	Other
Q1 2021	17.3852255863467	0.608558730866182
Q2 2021	1.87100351261076	1.62551668002795
Q3 2021	5.4357906512098	1.45453899456749
Q4 2021	-3.62708197319819	2.27673202308016
Q1 2022	8.22610599487954	1.14671980440981
Q2 2022	2.93736589063236	1.03915272293995
Q3 2022	7.50434025369731	1.12246766759221
Q4 2022	1.12372160711838	0.696425368512155
Q1 2023	-10.562177562804	1.34435147058729
Q2 2023	4.79266491428851	1.51214996745674
Q3 2023	-3.81236430853985	-0.674266568118054

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 2021)¹

Table 6.2 Gross Value Added at Current Basic Prices & Constant Basic Prices (Chain linked annually and referenced to year 2021)¹						€million
	CURRENT BASIC PRICES			CONSTANT BASIC PRICES
Period	Foreign-owned MNE dominated	Other	Total	Foreign-owned MNE dominated	Other	Total
2017	111,808	163,620	275,428	109,470	178,236	283,648
2018	131,371	175,291	306,662	127,623	188,759	312,690
2019	148,039	186,002	334,041	136,404	196,790	329,512
2020	173,505	182,681	356,186	170,096	186,520	356,006
2021	212,005	196,406	408,411	212,005	196,406	408,411
2022	256,225	225,772	481,998	244,987	207,323	452,310

2017
Q1	25,946	39,385	65,331	25,073	43,286	67,285
Q2	24,047	40,455	64,503	24,807	43,828	67,514
Q3	27,704	41,582	69,286	27,987	45,402	72,361
Q4	34,111	42,197	76,308	31,604	45,720	76,487

2018
Q1	31,568	41,361	72,929	30,080	44,573	73,778
Q2	30,099	43,421	73,520	31,559	46,815	77,454
Q3	33,586	44,623	78,209	32,338	48,300	79,677
Q4	36,118	45,887	82,005	33,646	49,071	81,782

2019
Q1	34,703	44,527	79,231	30,767	47,092	76,885
Q2	34,575	45,499	80,074	33,960	48,337	81,415
Q3	37,428	47,182	84,610	35,207	50,026	84,323
Q4	41,333	48,794	90,127	36,470	51,335	86,889

2020
Q1	43,284	47,217	90,502	39,661	48,299	87,492
Q2	40,335	40,888	81,224	40,926	42,003	82,977
Q3	46,475	46,392	92,867	45,200	47,445	92,626
Q4	43,410	48,183	91,594	44,310	48,773	92,912

2021
Q1	52,291	45,227	97,518	50,789	46,117	96,925
Q2	48,980	47,908	96,889	51,097	48,588	99,659
Q3	56,262	50,340	106,602	56,318	49,928	106,294
Q4	54,471	52,931	107,402	53,802	51,773	105,534

2022
Q1	59,839	51,974	111,814	56,899	49,115	106,014
Q2	59,200	55,923	115,123	57,751	51,676	109,427
Q3	69,807	57,781	127,589	65,008	52,689	117,697
Q4	67,379	60,094	127,472	65,329	53,843	119,172

2023
Q1	61,038	55,528	116,565	56,889	51,208	108,096
Q2	60,480	59,960	120,440	58,774	54,251	113,025
Q3	61,811	61,148	122,959	59,210	54,123	113,332

Annual Percentage Changes
2017	13.2	8.0	10.0	10.6	4.5	6.9
2018	17.5	7.1	11.3	16.6	5.9	10.2
2019	12.7	6.1	8.9	6.9	4.3	5.4
2020	17.2	-1.8	6.6	24.7	-5.2	8.0
2021	22.2	7.5	14.7	24.6	5.3	14.7
2022	20.9	15.0	18.0	15.6	5.6	10.7

Percentage change on corresponding period of previous year
2017
Q1	10.4	7.4	8.6	0.9	4.9	3.3
Q2	8.6	7.0	7.6	9.1	3.0	5.4
Q3	19.1	7.8	12.0	34.9	3.9	14.9
Q4	14.1	9.6	11.6	3.2	6.2	4.6

2018
Q1	21.7	5.0	11.6	20.0	3.0	9.6
Q2	25.2	7.3	14.0	27.2	6.8	14.7
Q3	21.2	7.3	12.9	15.5	6.4	10.1
Q4	5.9	8.7	7.5	6.5	7.3	6.9

2019
Q1	9.9	7.7	8.6	2.3	5.7	4.2
Q2	14.9	4.8	8.9	7.6	3.3	5.1
Q3	11.4	5.7	8.2	8.9	3.6	5.8
Q4	14.4	6.3	9.9	8.4	4.6	6.2

2020
Q1	24.7	6.0	14.2	28.9	2.6	13.8
Q2	16.7	-10.1	1.4	20.5	-13.1	1.9
Q3	24.2	-1.7	9.8	28.4	-5.2	9.8
Q4	5.0	-1.3	1.6	21.5	-5.0	6.9

2021
Q1	20.8	-4.2	7.8	28.1	-4.5	10.8
Q2	21.4	17.2	19.3	24.9	15.7	20.1
Q3	21.1	8.5	14.8	24.6	5.2	14.8
Q4	25.5	9.9	17.3	21.4	6.2	13.6

2022
Q1	14.4	14.9	14.7	12.0	6.5	9.4
Q2	20.9	16.7	18.8	13.0	6.4	9.8
Q3	24.1	14.8	19.7	15.4	5.5	10.7
Q4	23.7	13.5	18.7	21.4	4.0	12.9

2023
Q1	2.0	6.8	4.2	-0.0	4.3	2.0
Q2	2.2	7.2	4.6	1.8	5.0	3.3
Q3	-11.5	5.8	-3.6	-8.9	2.7	-3.7
¹Chain linked series not additive

Open in Excel: Quarterly National Accounts Q3 2023 Table 6.2 (XLS 19KB)

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 2021)¹ - Seasonally Adjusted

Table 6.3 Gross Value Added at Current Basic Prices & Constant Basic Prices (Chain linked annually and referenced to year 2021)¹ - Seasonally Adjusted						€million
	CURRENT BASIC PRICES			CONSTANT BASIC PRICES
Period	Foreign-owned MNE dominated	Other	Total	Foreign-owned MNE dominated	Other	Total
2017
Q1	26,998	40,097	67,095	24,861	44,534	69,396
Q2	24,987	40,640	65,627	25,423	44,071	69,494
Q3	28,595	41,163	69,758	28,496	44,626	73,122
Q4	30,877	41,604	72,482	30,366	44,945	75,311

2018
Q1	31,304	42,425	73,728	30,183	45,916	76,099
Q2	31,876	43,440	75,316	32,438	47,062	79,501
Q3	34,349	44,189	78,537	32,343	47,546	79,889
Q4	34,547	45,035	79,582	32,610	48,100	80,710

2019
Q1	33,972	45,584	79,556	31,091	48,591	79,681
Q2	36,705	45,839	82,544	34,809	48,598	83,406
Q3	37,833	46,667	84,500	34,785	49,306	84,091
Q4	39,354	47,713	87,067	35,726	50,151	85,877

2020
Q1	42,384	48,562	90,947	40,146	49,996	90,143
Q2	43,235	41,187	84,422	41,862	42,162	84,025
Q3	45,474	45,832	91,306	44,347	46,812	91,159
Q4	44,328	46,982	91,310	43,731	47,571	91,302

2021
Q1	51,815	46,928	98,743	51,334	47,861	99,194
Q2	53,457	47,988	101,445	52,294	48,639	100,933
Q3	55,551	49,713	105,264	55,137	49,346	104,483
Q4	51,730	51,538	103,268	53,137	50,470	103,607

2022
Q1	61,017	53,964	114,981	57,508	51,049	108,556
Q2	62,259	56,035	118,294	59,197	51,579	110,776
Q3	66,269	57,118	123,387	63,639	52,158	115,797
Q4	64,206	58,442	122,648	64,354	52,521	116,876

2023
Q1	61,235	57,800	119,035	57,557	53,227	110,785
Q2	64,636	59,957	124,593	60,316	54,032	114,348
Q3	60,082	60,503	120,586	58,016	53,668	111,684

Percentage change on previous quarter
2017
Q1	1.4	5.3	3.7	-15.7	5.0	-3.5
Q2	-7.4	1.4	-2.2	2.3	-1.0	0.1
Q3	14.4	1.3	6.3	12.1	1.3	5.2
Q4	8.0	1.1	3.9	6.6	0.7	3.0

2018
Q1	1.4	2.0	1.7	-0.6	2.2	1.0
Q2	1.8	2.4	2.2	7.5	2.5	4.5
Q3	7.8	1.7	4.3	-0.3	1.0	0.5
Q4	0.6	1.9	1.3	0.8	1.2	1.0

2019
Q1	-1.7	1.2	-0.0	-4.7	1.0	-1.3
Q2	8.0	0.6	3.8	12.0	0.0	4.7
Q3	3.1	1.8	2.4	-0.1	1.5	0.8
Q4	4.0	2.2	3.0	2.7	1.7	2.1

2020
Q1	7.7	1.8	4.5	12.4	-0.3	5.0
Q2	2.0	-15.2	-7.2	4.3	-15.7	-6.8
Q3	5.2	11.3	8.2	5.9	11.0	8.5
Q4	-2.5	2.5	0.0	-1.4	1.6	0.2

2021
Q1	16.9	-0.1	8.1	17.4	0.6	8.6
Q2	3.2	2.3	2.7	1.9	1.6	1.8
Q3	3.9	3.6	3.8	5.4	1.5	3.5
Q4	-6.9	3.7	-1.9	-3.6	2.3	-0.8

2022
Q1	18.0	4.7	11.3	8.2	1.1	4.8
Q2	2.0	3.8	2.9	2.9	1.0	2.0
Q3	6.4	1.9	4.3	7.5	1.1	4.5
Q4	-3.1	2.3	-0.6	1.1	0.7	0.9

2023
Q1	-4.6	-1.1	-2.9	-10.6	1.3	-5.2
Q2	5.6	3.7	4.7	4.8	1.5	3.2
Q3	-7.0	0.9	-3.2	-3.8	-0.7	-2.3
¹Chain linked series not additive