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Quarterly National Accounts Quarter 4 2020

Foreign and Domestic GVA

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Year 2020 Analysis

Multinational sector growth was 18.2% in 2020 while non-MNE dominated sectors declined by 9.5%

Table 6.1 Gross Value Added for sectors dominated by Foreign-owned MNEs and Other Sectors, 2020¹
	Amount €m	Annual % change
Foreign-owned MNE dominated	166,510	18.2
Other	166,367	-9.5
Total GVA (MNE dominated + Other)	332,878	2.5
¹Constant Market Prices, chain linked annually and referenced to year 2018.

Open in Excel: Quarterly National Accounts Q4 2020 Table 6.1 (XLS 9KB)

Preliminary estimates indicate that Gross Value Added (GVA) at constant (2018) basic prices for sectors where foreign-owned multinational enterprises are dominant grew by 18.2% between 2019 and 2020. The non-MNE dominated sectors of the economy declined by 9.5% over the same period, resulting in an overall growth rate of 2.5%.

The share of total GVA at constant prices accounted for by the foreign-owned MNE dominated sectors stood at 50.0% in 2020, an increase from 43.4% in 2019.

	Foreign-owned MNE-dominated	Other
2014	12.4066500407951	6.06803205550346
2015	83.5544518356415	6.05619435897944
2016	0.565959380557746	2.14374624074212
2017	10.1673700478579	5.70962663798698
2018	16.5577997945225	4.78087185098142
2019	6.8862391878137	4.4805799382196
2020	18.1734100496374	-9.50230249893134

Quarter 4 2020 Analysis

Non-MNE dominated sectors grew by 3.3% in Q4 2020 while Multinational sector decreased by 3.9%

Table 6.2 Gross Value Added for sectors dominated by Foreign-owned MNEs and Other Sectors, Q4 2020¹
	Amount €m	Quarterly % change
Foreign-owned MNE dominated	42,018	-3.9
Other	42,905	3.3
Total GVA (MNE dominated + Other)	84,922	-0.4
¹Constant Market Prices, chain linked annually and referenced to year 2018, seasonally adjusted.

Open in Excel: Quarterly National Accounts Q4 2020 Table 6.2 (XLS 9KB)

On a seasonally adjusted basis, initial estimates indicate that Gross Value Added (GVA) in volume terms in the Foreign-owned MNE dominated sector decreased by 3.9% for the fourth quarter of 2020. GVA for the non-MNE dominated sectors of the economy increased by 3.3% over the same period.

Real GVA for the total economy amounted to almost €85 billion in the Q4 2020 reference period, with GVA for MNE dominated sectors representing approximately 49.5% of Total GVA while GVA for the non-MNE dominated sectors represented approximately 50.5% of the total.

	Foreign-owned MNE-dominated	Other
Q1 2018	-2.24288886508252	1.47996554220797
Q2 2018	5.79352788481471	1.8145796217895
Q3 2018	-1.34519109693877	1.18329887294131
Q4 2018	-1.41771498876484	1.0964660106437
Q1 2019	-1.2157900894147	0.964099010441744
Q2 2019	11.3592443724025	0.77637459772848
Q3 2019	-0.207640026283484	0.708990728234604
Q4 2019	0.970041233121921	2.63343539268062
Q1 2020	10.1364605583565	-2.85276735748798
Q2 2020	1.38731182481719	-20.9122523344012
Q3 2020	7.61803372456213	14.8449123383166
Q4 2020	-3.8613812333937	3.29626624514892

Table 6.3 Gross Value Added at Current Basic Prices & Constant Basic Prices (Chain linked annually and referenced to year 2018)¹

Table 6.3 Gross Value Added at Current Basic Prices & Constant Basic Prices (Chain linked annually and referenced to year 2018)¹						€million
	CURRENT BASIC PRICES			CONSTANT BASIC PRICES
Period	Foreign-owned MNE dominated	Other	Total	Foreign-owned MNE dominated	Other	Total
2014	45,288	133,612	178,900	55,615	146,639	204,853
2015	101,101	143,243	244,344	102,083	155,520	257,448
2016	100,093	151,828	251,921	102,661	158,854	261,286
2017	114,411	165,476	279,887	113,099	167,924	280,832
2018	131,826	175,952	307,778	131,826	175,952	307,778
2019	146,540	188,288	334,828	140,903	183,836	324,739
2020	177,010	168,992	346,002	166,510	166,367	332,878

2014
Q1	11,238	31,662	42,900	13,695	34,868	49,157
Q2	12,367	33,119	45,485	15,099	36,248	51,920
Q3	11,374	34,266	45,640	13,950	37,608	52,240
Q4	10,309	34,566	44,875	12,871	37,916	51,536

2015
Q1	25,013	34,312	59,325	28,335	37,228	65,262
Q2	24,140	35,405	59,545	23,471	38,382	61,931
Q3	25,131	36,621	61,752	24,749	39,970	64,779
Q4	26,817	36,905	63,722	25,528	39,940	65,475

2016
Q1	23,576	36,667	60,244	25,507	38,348	63,831
Q2	22,097	37,828	59,925	23,174	39,518	62,532
Q3	24,688	38,700	63,388	22,727	40,668	63,181
Q4	29,732	38,632	68,364	31,253	40,320	71,741

2017
Q1	26,518	39,699	66,217	26,026	40,615	66,580
Q2	23,683	40,795	64,478	24,603	41,192	65,713
Q3	29,087	42,281	71,368	29,675	42,907	72,542
Q4	35,123	42,700	77,823	32,794	43,210	75,996

2018
Q1	31,857	41,677	73,534	31,462	41,504	72,971
Q2	29,928	43,449	73,377	32,348	43,465	75,809
Q3	35,639	44,950	80,589	35,285	45,135	80,442
Q4	34,401	45,877	80,278	32,731	45,849	78,555

2019
Q1	34,007	44,904	78,911	31,606	43,759	75,365
Q2	33,690	46,077	79,767	34,777	44,913	79,691
Q3	39,579	47,734	87,313	38,772	46,792	85,563
Q4	39,265	49,572	88,837	35,748	48,372	84,120

2020
Q1	43,409	44,148	87,557	38,869	44,175	83,044
Q2	40,750	36,766	77,516	39,385	35,617	75,002
Q3	48,288	42,906	91,193	47,473	42,419	89,892
Q4	44,563	45,173	89,735	40,783	44,157	84,940

Annual Percentage Changes
2014	11.7	7.9	8.8	12.4	6.1	7.6
2015	123.2	7.2	36.6	83.6	6.1	25.7
2016	-1.0	6.0	3.1	0.6	2.1	1.5
2017	14.3	9.0	11.1	10.2	5.7	7.5
2018	15.2	6.3	10.0	16.6	4.8	9.6
2019	11.2	7.0	8.8	6.9	4.5	5.5
2020	20.8	-10.2	3.3	18.2	-9.5	2.5

Percentage change on corresponding period of previous year
2014
Q1	8.5	7.7	7.9	7.2	6.5	6.7
Q2	17.5	7.7	10.2	17.7	5.8	8.8
Q3	12.8	8.5	9.5	13.7	6.4	8.1
Q4	7.5	7.6	7.5	10.9	5.7	6.9

2015
Q1	122.6	8.4	38.3	106.9	6.8	32.8
Q2	95.2	6.9	30.9	55.4	5.9	19.3
Q3	121.0	6.9	35.3	77.4	6.3	24.0
Q4	160.1	6.8	42.0	98.3	5.3	27.0

2016
Q1	-5.7	6.9	1.5	-10.0	3.0	-2.2
Q2	-8.5	6.8	0.6	-1.3	3.0	1.0
Q3	-1.8	5.7	2.6	-8.2	1.7	-2.5
Q4	10.9	4.7	7.3	22.4	1.0	9.6

2017
Q1	12.5	8.3	9.9	2.0	5.9	4.3
Q2	7.2	7.8	7.6	6.2	4.2	5.1
Q3	17.8	9.3	12.6	30.6	5.5	14.8
Q4	18.1	10.5	13.8	4.9	7.2	5.9

2018
Q1	20.1	5.0	11.0	20.9	2.2	9.6
Q2	26.4	6.5	13.8	31.5	5.5	15.4
Q3	22.5	6.3	12.9	18.9	5.2	10.9
Q4	-2.1	7.4	3.2	-0.2	6.1	3.4

2019
Q1	6.7	7.7	7.3	0.5	5.4	3.3
Q2	12.6	6.0	8.7	7.5	3.3	5.1
Q3	11.1	6.2	8.3	9.9	3.7	6.4
Q4	14.1	8.1	10.7	9.2	5.5	7.1

2020
Q1	27.6	-1.7	11.0	23.0	1.0	10.2
Q2	21.0	-20.2	-2.8	13.2	-20.7	-5.9
Q3	22.0	-10.1	4.4	22.4	-9.3	5.1
Q4	13.5	-8.9	1.0	14.1	-8.7	1.0
¹Chain linked series not additive

Open in Excel: Quarterly National Accounts Q4 2020 Table 6.3 (XLS 19KB)

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Table 6.4 Gross Value Added at Current Basic Prices & Constant Basic Prices (Chain linked annually and referenced to year 2018)¹ - Seasonally Adjusted

Table 6.4 Gross Value Added at Current Basic Prices & Constant Basic Prices (Chain linked annually and referenced to year 2018)¹ - Seasonally Adjusted						€million
	CURRENT BASIC PRICES			CONSTANT BASIC PRICES
Period	Foreign-owned MNE dominated	Other	Total	Foreign-owned MNE dominated	Other	Total
2014
Q1	10,827	32,296	43,123	13,119	35,794	48,913
Q2	12,221	33,108	45,330	14,966	36,469	51,435
Q3	11,440	33,874	45,314	13,992	36,979	50,971
Q4	10,599	34,310	44,908	13,336	37,367	50,703

2015
Q1	24,292	34,978	59,270	27,395	38,184	65,578
Q2	24,498	35,438	59,937	23,744	38,696	62,440
Q3	24,997	36,152	61,148	24,573	39,227	63,799
Q4	26,931	36,647	63,578	25,863	39,362	65,225

2016
Q1	23,064	37,368	60,431	25,032	39,555	64,587
Q2	23,039	37,889	60,928	23,842	39,673	63,515
Q3	24,253	38,221	62,474	22,261	39,900	62,161
Q4	29,319	38,303	67,622	31,147	39,657	70,803

2017
Q1	26,134	40,465	66,598	26,001	41,724	67,725
Q2	25,216	40,906	66,122	25,587	41,632	67,220
Q3	28,158	41,800	69,958	28,514	42,095	70,609
Q4	34,481	42,216	76,697	32,622	42,350	74,972

2018
Q1	31,494	42,504	73,998	31,890	42,977	74,867
Q2	32,211	43,620	75,831	33,737	43,757	77,494
Q3	34,086	44,492	78,578	33,284	44,274	77,558
Q4	33,931	45,250	79,182	32,812	44,760	77,572

2019
Q1	33,680	45,772	79,451	32,413	45,191	77,604
Q2	36,275	46,337	82,612	36,095	45,542	81,637
Q3	37,506	47,286	84,792	36,020	45,865	81,885
Q4	39,177	48,823	88,000	36,369	47,073	83,442

2020
Q1	42,957	44,969	87,926	40,056	45,730	85,786
Q2	43,648	37,014	80,662	40,611	36,167	76,778
Q3	45,592	42,515	88,107	43,705	41,536	85,241
Q4	44,853	44,480	89,333	42,018	42,905	84,922

Percentage change on previous quarter
2014
Q1	7.0	1.4	2.8	6.6	1.4	2.7
Q2	12.9	2.5	5.1	14.1	1.9	5.2
Q3	-6.4	2.3	-0.0	-6.5	1.4	-0.9
Q4	-7.4	1.3	-0.9	-4.7	1.0	-0.5

2015
Q1	129.2	1.9	32.0	105.4	2.2	29.3
Q2	0.8	1.3	1.1	-13.3	1.3	-4.8
Q3	2.0	2.0	2.0	3.5	1.4	2.2
Q4	7.7	1.4	4.0	5.3	0.3	2.2

2016
Q1	-14.4	2.0	-4.9	-3.2	0.5	-1.0
Q2	-0.1	1.4	0.8	-4.8	0.3	-1.7
Q3	5.3	0.9	2.5	-6.6	0.6	-2.1
Q4	20.9	0.2	8.2	39.9	-0.6	13.9

2017
Q1	-10.9	5.6	-1.5	-16.5	5.2	-4.3
Q2	-3.5	1.1	-0.7	-1.6	-0.2	-0.7
Q3	11.7	2.2	5.8	11.4	1.1	5.0
Q4	22.5	1.0	9.6	14.4	0.6	6.2

2018
Q1	-8.7	0.7	-3.5	-2.2	1.5	-0.1
Q2	2.3	2.6	2.5	5.8	1.8	3.5
Q3	5.8	2.0	3.6	-1.3	1.2	0.1
Q4	-0.5	1.7	0.8	-1.4	1.1	0.0

2019
Q1	-0.7	1.2	0.3	-1.2	1.0	0.0
Q2	7.7	1.2	4.0	11.4	0.8	5.2
Q3	3.4	2.0	2.6	-0.2	0.7	0.3
Q4	4.5	3.3	3.8	1.0	2.6	1.9

2020
Q1	9.6	-7.9	-0.1	10.1	-2.9	2.8
Q2	1.6	-17.7	-8.3	1.4	-20.9	-10.5
Q3	4.5	14.9	9.2	7.6	14.8	11.0
Q4	-1.6	4.6	1.4	-3.9	3.3	-0.4
¹Chain linked series not additive