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GDP by Sector

GDP by Sector

Increase of 3.5% in GDP (seasonally adjusted) in Quarter 3

Online ISSN: 2009-5775
CSO statistical publication, , 11am
Table 2.1 Gross Domestic Product1 by Nace Rev. 2 A10 Sector of Origin, Q3 20242
 Amount €mQuarterly % change
Industry (excl. Construction)39,06714.0
Information and Communication25,3096.3
Professional, Admin and Support Services14,8443.6
Distribution, Transport, Hotels and Restaurants12,017-0.3
Public Admin, Education and Health11,745-0.1
Real Estate Activities7,3482.6
Financial and Insurance Activities4,6154.0
Construction3,0303.5
Agriculture, Forestry and Fishing1,5401.3
Arts, Entertainment and Other Services1,4530.4
Gross Domestic Product124,5093.5
1Series is not additive, Taxes less Subsidies on Products not shown in table (see Table 2.5 for full detail).
2Constant Market Prices, chain linked annually and referenced to year 2022, seasonally adjusted.

The MNE dominated sectors of the economy increased by 9.1% overall in the third quarter of 2024. Value added for the MNE dominated Industry (excluding Construction) sector expanded by 14.0% in Q3 compared with the previous quarter, while the Information & Communication sector recorded an increase of 6.3% in the quarter. The domestically facing sectors of the economy taken collectively posted a rise of 1.5% overall in the third quarter of 2024. The Finance & Insurance sector grew by 4.0% in volume terms quarter-on-quarter in Q3 while the Professional & Administrative services sector increased by 3.6% over the period compared with Q2 2024. The domestic facing Construction sector rose by 3.5% in Q3 while the Real Estate sector increased by 2.6% over the same period. The domestically dominated Agriculture, Forestry & Fishing and Arts & Entertainment sectors posted modest increases of 1.3% and 0.4% respectively in Q3 2024 quarter-on-quarter. The Distribution, Transport, Hotels & Restaurants sector declined by 0.3% in the quarter while the Public Administration, Education & Health sector fell by 0.1%. (See Tables 2.5 and 6.3).

Looking at the year-to-date results for 2024 compared with the equivalent nine months of 2023, the MNE dominated sectors contracted by 6.5% over the period while the Domestic-facing sectors grew by 2.7%. (See Table 6.2)

Column1Q3 2024Q2 2024
Industry (excl. Construction)39.067478432134.2683871457
Information and Communication25.308634063623.8107644971
Professional, Admin and Support Services14.843981089214.3319664128
Distribution, Transport, Hotels and Restaurants12.017250399112.054087658
Public Admin, Education and Health11.745093311211.7591845572
Real Estate Activities7.34772850757.1600494693
Financial and Insurance Activities4.61498484224.4393246855
Construction3.03019978482.9270675818
Agriculture Forestry and Fishing1.54036228421.5203745868
Arts, Entertainment and Other Services1.45270301291.4468172654

Get the data: NAQ02

Column1Q3 2024
Distribution, Transport, Hotels & Restaurants-0.305599726376249
Public Admin, Education & Health-0.119831829592065
Arts, Entertainment & Other Services0.406806556761174
Agriculture, Forestry & Fishing1.31465610998331
Real Estate Activities2.62119750715002
Construction3.52339671421522
Professional, Admin & Support Services3.57253611718429
Financial & Insurance Activities3.95691167338474
Information & Communication6.29072437670966
Industry (excl. Construction)14.0044270715034
Agriculture, Forestry & FishingIndustry (excl. Construction)ConstructionDistribution, Transport, Hotels & RestaurantsInformation & CommunicationFinancial & Insurance ActivitiesReal Estate ActivitiesProfessional, Admin & Support ServicesPublic Admin, Education & HealthArts, Entertainment & Other Services
Q1 2022100100100100100100100100100100
Q2 202297.5665511339902101.213404773006104.018551160055101.029271491571104.30153567529995.9234467281586103.257348340408100.697883250477101.869640109268113.314259077781
Q3 2022112.602564818933108.224249605515103.066152408612101.372367999541107.33015981067993.5799147114112103.637106565328100.023511003188102.725853063226116.815614618457
Q4 2022107.323523332448116.9243428713299.2281471834565102.461117044952104.04986294735692.8443443151108104.124755477111102.348360361767103.68960980687119.562341138612
Q1 2023119.05741124469585.9821889959554103.40445466205599.258595104246107.579599775564116.088469986624111.104222066179101.923676270275106.006491310534114.315630886587
Q2 2023128.0982594832688.712179140787898.7530744409319101.365739966301112.6378323292113.431339205273113.68803539718103.513466259495106.118198514379118.125383786525
Q3 2023115.76832547542682.140225658483296.0886250268466100.40059568743111.642357857665102.543122506603115.179412661942104.252564492262107.48019603013116.658994489822
Q4 2023115.82417324610377.397382705383796.329402003295399.9337589120176114.125926706646103.766498689642115.69674694807103.498244558272108.800193750924118.222850551542
Q1 2024112.75615900799172.842307293698696.3656681241856104.057921157287114.609773797265106.103971754285113.722972991923104.272178424533109.559795196889120.821521697027
Q2 2024110.63282464131273.309218497558996.9998060757843101.61440335623114.04856450446795.7421487100637115.105305229133110.068094080659110.295307782839110.194579493423
Q3 2024112.08726583010683.5757545387386100.417494055854101.303870017615121.22304535303799.5305809687216118.122442620396114.000316495187110.163138897568110.642858267998

Comparisons with Q3 2023

Estimates for the third quarter of 2024 indicate that there was an increase of 2.9% in GDP in real terms in Q3 2024 compared with Q3 2023. Gross Value Added (GVA) for the MNE-dominated sectors rose by 4.7% in Q3 2024 compared with Q3 2023. The Information & Communication sector grew by 9.0% in Q3 compared with the equivalent quarter of 2023 while the Industry (excluding Construction) sector posted an increase of 2.4% year-on-year over the same period.

Of the domestic based economic sectors, Professional & Administrative Services activity increased by 9.5% year-on-year, while Construction activity expanded by 4.5% compared with the same quarter of 2023. Real Estate activity was up by 2.7% year-on-year in Q3 2024 compared with Q3 2023 while Public Administration, Education & Health Distribution and Transport, Hotels & Restaurants grew by 2.3% and 0.7% respectively over the same period. Of the other Service sectors, the Arts & Entertainment sector shrank by 5.5%, with Financial & Insurance activities contracting by 2.0%. The Agriculture, Forestry & Fishing sector decreased by 3.7% in Q3 2024 compared with Q3 2023. Overall, the domestic based sectors of the economy increased by 3.3% in the third quarter of 2024 compared with Q3 2023. (See Tables 2.3 and 6.2).

Looking at the year-on-year results for the first nine months of 2024, the Information & Communication sector expanded by 5.3% in the nine-month period compared with the equivalent period in 2023 while the Professional & Administrative Services sector rose by 6.1%. Public Administration, Education & Health expanded by 3.2% over the period while Distribution, Transport, Hotels & Restaurants and Real Estate activities grew by 2.2% and 2.1% respectively. Year-on-year contractions were recorded in the first nine months of 2024 in Industry (-10.2%), Financial & Insurance activities (-8.6%), Agriculture, Forestry & Fishing (-6.8%), Arts & Entertainment (-2.2%) and in the Construction sector (-1.5%).

Table 2.2 Gross Domestic Product by Nace Rev. 2 A10 Sector1 of Origin and Gross National Product at Current Market Price

Table 2.3 Gross Domestic Product by Nace Rev. 2 A10 Sector1 of Origin and Gross National Product at Constant Market Prices (Chain linked annually and referenced to year 2022)2

Table 2.4 Gross Domestic Product by Nace Rev. 2 A10 Sector1 of Origin and Gross National Product at Current Market Prices - Seasonally Adjusted

Table 2.5 Gross Domestic Product by Nace Rev. 2 A10 Sector1 of Origin and Gross National Product at Constant Market Prices (Chain linked annually and referenced to year 2022)2 - Seasonally Adjusted

FOR UPDATES TABLES, PLEASE CLICK ON THE FOLLOWING LINK: Quarterly National Accounts Q3 2024 Updates Tables (XLS 60KB)