Table 2.1 Gross Domestic Product1 by Nace Rev. 2 A10 Sector of Origin, Q4 20232 | ||
Amount €m | Quarterly % change | |
Industry (excl. Construction) | 38,687 | -7.7 |
Information and Communication | 22,141 | -0.7 |
Public Admin, Education and Health | 11,137 | 1.1 |
Professional, Admin and Support Services | 10,515 | -3.8 |
Distribution, Transport, Hotels and Restaurants | 10,112 | 0.6 |
Real Estate Activities | 6,418 | -0.2 |
Financial and Insurance Activities | 4,435 | -0.3 |
Construction | 2,297 | -1.9 |
Agriculture, Forestry and Fishing | 1,323 | 3.1 |
Arts, Entertainment and Other Services | 1,056 | 4.0 |
Gross Domestic Product | 110,443 | -3.4 |
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 2021, seasonally adjusted. |
The MNE dominated sectors of the economy decreased by 2.7% overall in the fourth quarter of 2023. The MNE dominated Industry (excluding Construction) sector recorded a decline of 7.7% in Q4 compared with the previous quarter, while Information & Communication sector fell by 0.7% in the quarter. The domestically facing Distribution, Transport, Hotels & Restaurants sector posted a modest increase of 0.6% while the Construction sector decreased by 1.9% quarter-on-quarter. The Arts & Entertainment sector expanded by 4.0% over the period compared with Q3 2023 while the Agriculture, Forestry & Fishing sector rose by 3.1% quarter-on-quarter. The domestically dominated Public Administration, Education & Health sector posted an increase of 1.1% quarter-on-quarter in Q4 2023. Other service sectors exhibited modest declines: Professional & Administrative services contracted by 3.8% in Q4, Finance & Insurance declined by 0.3% while the Real Estate sector fell by 0.2% over the same period. (See Tables 2.5 and 6.3).
Column1 | Q4 2023 | Q3 2023 |
---|---|---|
Industry (excl. Construction) | 38.686721249 | 41.925627472 |
Information and Communication | 22.141202516 | 22.302679882 |
Public Admin, Education and Health | 11.137393895 | 11.013085367 |
Professional, Admin and Support Services | 10.514750015 | 10.933661816 |
Distribution, Transport, Hotels and Restaurants | 10.112325421 | 10.047884293 |
Real Estate Activities | 6.417603643 | 6.432677992 |
Financial and Insurance Activities | 4.435164974 | 4.448161477 |
Construction | 2.296521583 | 2.341488174 |
Agriculture Forestry and Fishing | 1.323117301 | 1.283819056 |
Arts, Entertainment and Other Services | 1.056183875 | 1.015811052 |
Get the data: NAQ02
Column1 | Q4 2023 |
---|---|
Industry (excl. Construction) | -7.72536135604196 |
Professional, Admin & Support Services | -3.831395264 |
Construction | -1.92042785008744 |
Information & Communication | -0.724026739631067 |
Financial & Insurance Activities | -0.292176960463331 |
Real Estate Activities | -0.234340177119807 |
Distribution, Transport, Hotels & Restaurants | 0.641340267471979 |
Public Admin, Education & Health | 1.12873480825348 |
Agriculture, Forestry & Fishing | 3.0610423498808 |
Arts, Entertainment & Other Services | 3.97444218789618 |
Agriculture, Forestry & Fishing | Industry (excl. Construction) | Construction | Distribution, Transport, Hotels & Restaurants | Information & Communication | Financial & Insurance Activities | Real Estate Activities | Professional, Admin & Support Services | Public Admin, Education & Health | Arts, Entertainment & Other Services | |
Q1 2021 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
Q2 2021 | 95.9595655449499 | 99.9677277688113 | 115.831165194501 | 108.844085342751 | 104.796295696601 | 99.089501806443 | 101.079103837341 | 97.8828372800885 | 101.110942124874 | 103.899865220237 |
Q3 2021 | 113.044933624336 | 108.82285937834 | 118.6790074031 | 114.690575337629 | 104.181884728574 | 99.0482791516085 | 101.431057330257 | 97.4428996621526 | 102.451327787724 | 109.69681884502 |
Q4 2021 | 109.736991682025 | 100.506971570266 | 132.634692834153 | 119.448897607216 | 117.622450705008 | 98.4756299182966 | 104.177500675008 | 97.4232531831626 | 103.919257904372 | 131.907333798989 |
Q1 2022 | 108.185321885693 | 112.732990865334 | 117.976071120437 | 121.148373260998 | 109.262506083918 | 95.1203521475713 | 104.33085625598 | 99.5430925582179 | 106.327038065273 | 108.754232146594 |
Q2 2022 | 105.666758759313 | 112.687220414676 | 125.011957089846 | 131.440051074022 | 114.783307525969 | 91.0357437692234 | 105.928607505269 | 99.6030825683244 | 108.198207987527 | 120.996338326019 |
Q3 2022 | 121.379104414306 | 126.052043646986 | 123.931745647651 | 131.901645873368 | 117.511545254584 | 89.7309058663897 | 106.650522446879 | 98.1027751329077 | 108.346748043036 | 121.980924042373 |
Q4 2022 | 109.630213274998 | 134.878549484285 | 119.910476685323 | 133.335378855329 | 115.710265201109 | 92.7143356511087 | 107.021901346258 | 99.7917232334985 | 109.603629022561 | 142.465075537301 |
Q1 2023 | 126.721693657076 | 108.929503802409 | 121.888851443228 | 134.034958411354 | 120.247619988634 | 99.8993350338291 | 107.18714590943 | 97.104086391254 | 110.398806538967 | 110.413452309175 |
Q2 2023 | 133.012357433811 | 113.903781006522 | 118.040402466238 | 137.062565997702 | 123.051367056492 | 105.333787176623 | 107.423105337888 | 102.962586759128 | 111.729907457997 | 109.779534638977 |
Q3 2023 | 124.253264594766 | 108.916019660627 | 117.137129014339 | 134.542549470218 | 125.704336667738 | 95.9632910770438 | 108.59032507209 | 101.763097440127 | 113.760809726875 | 108.787730220935 |
Q4 2023 | 128.056709645121 | 100.501863567226 | 114.887594965955 | 135.405425016854 | 124.794203657387 | 95.6829084500143 | 108.335854311981 | 97.8641509443066 | 115.044867584413 | 113.11143566609 |
Estimates for the fourth quarter of 2023 indicate that there was a fall of 8.7% in GDP in real terms in Q4 2023 compared with Q4 2022. Gross Value Added (GVA) for the MNE-dominated sectors contracted by 18.1% in Q4 2023 compared with Q4 2022. The Information & Communication sector increased by 7.8% in Q4 compared with the equivalent quarter of 2022 while the Industry (excluding Construction) sector fell by 26.0% year-on-year over the same period.
Of the domestic based economic sectors, Agriculture, Forestry & Fishing sector posted a significant increase, rising by 23.3% year-on-year, while Distribution, Transport, Hotels & Restaurants rose by 1.6% compared with the same quarter of 2022. Construction activity fell by 4.0% in Q4 2023 compared with Q4 2022. Of the Service sectors, Financial & Insurance activities recorded the strongest growth expanding by 5.4% in Q4 2023 compared with Q4 2022, while Public Administration, Education & Health rose by 5.0% over the same period. A modest year-on-year increase was recorded in the Real Estate activities sector (1.3%). The Arts & Entertainment sector contracted by 19.1% year-on-year in Q4 2023 while Professional & Administrative Services activity fell by 2.1%. Overall, the domestic based sectors grew by 2.1% year-on-year in the fourth quarter of 2023 compared with Q4 2022. (See Tables 2.3 and 6.2).
FOR UPDATES TABLES, PLEASE CLICK ON THE FOLLOWING LINK: Quarterly National Accounts Q4 2023 Updates Tables (XLS 60KB)
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