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GDP by Sector

GDP by Sector

Decrease of 3.4% in GDP (seasonally adjusted) in Quarter 4

Online ISSN: 2009-5775
CSO statistical publication, , 11am
Table 2.1 Gross Domestic Product1 by Nace Rev. 2 A10 Sector of Origin, Q4 20232
 Amount €mQuarterly % change
Industry (excl. Construction)38,687-7.7
Information and Communication22,141-0.7
Public Admin, Education and Health11,1371.1
Professional, Admin and Support Services10,515-3.8
Distribution, Transport, Hotels and Restaurants10,1120.6
Real Estate Activities6,418-0.2
Financial and Insurance Activities4,435-0.3
Construction2,297-1.9
Agriculture, Forestry and Fishing1,3233.1
Arts, Entertainment and Other Services1,0564.0
Gross Domestic Product110,443-3.4
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).

Column1Q4 2023Q3 2023
Industry (excl. Construction)38.68672124941.925627472
Information and Communication22.14120251622.302679882
Public Admin, Education and Health11.13739389511.013085367
Professional, Admin and Support Services10.51475001510.933661816
Distribution, Transport, Hotels and Restaurants10.11232542110.047884293
Real Estate Activities6.4176036436.432677992
Financial and Insurance Activities4.4351649744.448161477
Construction2.2965215832.341488174
Agriculture Forestry and Fishing1.3231173011.283819056
Arts, Entertainment and Other Services1.0561838751.015811052

Get the data: NAQ02

Column1Q4 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 & Restaurants0.641340267471979
Public Admin, Education & Health1.12873480825348
Agriculture, Forestry & Fishing3.0610423498808
Arts, Entertainment & Other Services3.97444218789618
Agriculture, Forestry & FishingIndustry (excl. Construction)ConstructionDistribution, Transport, Hotels & RestaurantsInformation & CommunicationFinancial & Insurance ActivitiesReal Estate ActivitiesProfessional, Admin & Support ServicesPublic Admin, Education & HealthArts, Entertainment & Other Services
Q1 2021100100100100100100100100100100
Q2 202195.959565544949999.9677277688113115.831165194501108.844085342751104.79629569660199.089501806443101.07910383734197.8828372800885101.110942124874103.899865220237
Q3 2021113.044933624336108.82285937834118.6790074031114.690575337629104.18188472857499.0482791516085101.43105733025797.4428996621526102.451327787724109.69681884502
Q4 2021109.736991682025100.506971570266132.634692834153119.448897607216117.62245070500898.4756299182966104.17750067500897.4232531831626103.919257904372131.907333798989
Q1 2022108.185321885693112.732990865334117.976071120437121.148373260998109.26250608391895.1203521475713104.3308562559899.5430925582179106.327038065273108.754232146594
Q2 2022105.666758759313112.687220414676125.011957089846131.440051074022114.78330752596991.0357437692234105.92860750526999.6030825683244108.198207987527120.996338326019
Q3 2022121.379104414306126.052043646986123.931745647651131.901645873368117.51154525458489.7309058663897106.65052244687998.1027751329077108.346748043036121.980924042373
Q4 2022109.630213274998134.878549484285119.910476685323133.335378855329115.71026520110992.7143356511087107.02190134625899.7917232334985109.603629022561142.465075537301
Q1 2023126.721693657076108.929503802409121.888851443228134.034958411354120.24761998863499.8993350338291107.1871459094397.104086391254110.398806538967110.413452309175
Q2 2023133.012357433811113.903781006522118.040402466238137.062565997702123.051367056492105.333787176623107.423105337888102.962586759128111.729907457997109.779534638977
Q3 2023124.253264594766108.916019660627117.137129014339134.542549470218125.70433666773895.9632910770438108.59032507209101.763097440127113.760809726875108.787730220935
Q4 2023128.056709645121100.501863567226114.887594965955135.405425016854124.79420365738795.6829084500143108.33585431198197.8641509443066115.044867584413113.11143566609

Comparisons with Q4 2022

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).

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 2021)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 2021)2 - Seasonally Adjusted

FOR UPDATES TABLES, PLEASE CLICK ON THE FOLLOWING LINK: Quarterly National Accounts Q4 2023 Updates Tables (XLS 60KB)