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Quarterly National Accounts Quarter 4 2024

Foreign and Domestic GVA

Multinational sector expanded by 3.8% in Q4 2024 while Non-MNE dominated fell by 0.2%

Online ISSN: 2009-5775

CSO statistical release, 06 March 2025, 11am

Table 6.1 Gross Value Added for sectors dominated by Foreign-owned MNEs and Other Sectors, Q4 2024¹
	Amount €m	Quarterly % change
Foreign-owned MNE dominated	58,505	3.8
Other	64,128	-0.2
Total GVA (MNE dominated + Other)	122,633	1.7
1Constant Market Prices, chain linked annually and referenced to year 2022, seasonally adjusted.

Open in Excel: Quarterly National Accounts Q4 2024 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 rose by 3.8% for the fourth quarter of 2024, largely driven by an expansion in the Information & Communication sector of 7.8% quarter-on-quarter. GVA for the non-MNE dominated sectors of the economy fell marginally by 0.2% over the same period.

Real GVA for the total economy amounted to almost €123 billion in the Q4 2024 reference period, with GVA for MNE dominated sectors representing approximately 47.7% of Total GVA while GVA for the non-MNE dominated sectors represented approximately 52.3% of the total.

	Foreign-owned MNE-dominated	Other
Q1 2022	9.20803026216008	-2.03272535290937
Q2 2022	3.65490874353847	1.44750927023947
Q3 2022	3.58884823483865	1.05979216763219
Q4 2022	2.07513217376083	1.63521528890114
Q1 2023	-18.1910276636879	2.61247326101581
Q2 2023	5.68719747074031	1.4424254903636
Q3 2023	-8.36790863299117	-0.161803656282555
Q4 2023	-5.70858652854388	1.10422958451075
Q1 2024	-1.68652734962322	0.708429440988589
Q2 2024	2.46649701239205	0.0139544843695827
Q3 2024	10.3754514600048	0.602920876925239
Q4 2024	3.75877621178664	-0.163494455591506

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 2022)¹

Table 6.2 Gross Value Added at Current Basic Prices & Constant Basic Prices (Chain linked annually and referenced to year 2022)¹						€million
	CURRENT BASIC PRICES			CONSTANT BASIC PRICES
Period	Foreign-owned MNE dominated	Other	Total	Foreign-owned MNE dominated	Other	Total
2018	133,766	180,972	314,739	136,693	212,297	342,773
2019	151,956	190,993	342,950	145,795	221,615	361,124
2020	174,551	185,508	360,059	181,274	210,004	389,526
2021	217,932	206,310	424,242	227,246	226,438	453,120
2022	261,298	236,232	497,530	261,298	236,232	497,530
2023	223,853	260,336	484,190	218,851	250,716	469,567
2024	226,308	273,752	500,060	216,803	256,003	472,807

2018
Q1	32,175	42,652	74,827	32,272	50,362	81,147
Q2	30,715	44,778	75,493	33,895	52,576	84,935
Q3	34,191	46,059	80,250	34,607	54,173	87,173
Q4	36,685	47,484	84,169	35,919	55,186	89,518

2019
Q1	35,748	45,678	81,427	32,956	53,118	84,436
Q2	35,626	46,651	82,277	36,339	54,572	89,392
Q3	38,305	48,378	86,682	37,581	56,288	92,308
Q4	42,278	50,286	92,564	38,920	57,637	94,988

2020
Q1	43,572	47,917	91,489	42,360	54,477	95,927
Q2	40,536	41,440	81,976	43,664	47,198	90,753
Q3	46,752	47,154	93,906	48,088	53,257	101,107
Q4	43,690	48,997	92,688	47,162	55,073	101,739

2021
Q1	53,624	47,447	101,071	54,485	52,723	107,142
Q2	50,468	50,202	100,670	54,784	55,822	110,415
Q3	57,710	52,865	110,575	60,219	57,709	117,880
Q4	56,130	55,795	111,926	57,758	60,184	117,682

2022
Q1	60,954	54,624	115,578	60,617	56,213	116,792
Q2	60,483	58,412	118,895	61,664	58,860	120,440
Q3	71,133	60,268	131,401	69,337	59,884	129,297
Q4	68,728	62,928	131,656	69,680	61,274	131,000

2023
Q1	56,587	62,436	119,023	53,894	60,275	114,168
Q2	55,962	65,338	121,300	55,920	63,036	118,956
Q3	57,385	65,625	123,010	56,362	63,128	119,490
Q4	53,919	66,937	120,856	52,675	64,277	116,952

2024
Q1	51,213	65,916	117,129	47,814	62,294	110,108
Q2	49,210	68,024	117,235	48,506	64,101	112,606
Q3	59,907	69,552	129,459	59,239	64,657	123,896
Q4	65,978	70,260	136,238	61,245	64,952	126,197

Annual Percentage Changes
2018	15.6	5.8	9.8	16.0	4.7	9.2
2019	13.6	5.5	9.0	6.7	4.4	5.4
2020	14.9	-2.9	5.0	24.3	-5.2	7.9
2021	24.9	11.2	17.8	25.4	7.8	16.3
2022	19.9	14.5	17.3	15.0	4.3	9.8
2023	-14.3	10.2	-2.7	-16.2	6.1	-5.6
2024	1.1	5.2	3.3	-0.9	2.1	0.7

Percentage change on corresponding period of previous year
2018
Q1	19.4	3.8	10.0	19.6	2.3	9.0
Q2	22.7	6.0	12.2	26.8	5.2	13.5
Q3	19.3	6.1	11.3	14.9	4.8	8.9
Q4	4.5	7.3	6.1	5.7	6.1	6.0

2019
Q1	11.1	7.1	8.8	2.1	5.5	4.1
Q2	16.0	4.2	9.0	7.2	3.8	5.2
Q3	12.0	5.0	8.0	8.6	3.9	5.9
Q4	15.2	5.9	10.0	8.4	4.4	6.1

2020
Q1	21.9	4.9	12.4	28.5	2.6	13.6
Q2	13.8	-11.2	-0.4	20.2	-13.5	1.5
Q3	22.1	-2.5	8.3	28.0	-5.4	9.5
Q4	3.3	-2.6	0.1	21.2	-4.4	7.1

2021
Q1	23.1	-1.0	10.5	28.6	-3.2	11.7
Q2	24.5	21.1	22.8	25.5	18.3	21.7
Q3	23.4	12.1	17.8	25.2	8.4	16.6
Q4	28.5	13.9	20.8	22.5	9.3	15.7

2022
Q1	13.7	15.1	14.4	11.3	6.6	9.0
Q2	19.8	16.4	18.1	12.6	5.4	9.1
Q3	23.3	14.0	18.8	15.1	3.8	9.7
Q4	22.4	12.8	17.6	20.6	1.8	11.3

2023
Q1	-7.2	14.3	3.0	-11.1	7.2	-2.2
Q2	-7.5	11.9	2.0	-9.3	7.1	-1.2
Q3	-19.3	8.9	-6.4	-18.7	5.4	-7.6
Q4	-21.5	6.4	-8.2	-24.4	4.9	-10.7

2024
Q1	-9.5	5.6	-1.6	-11.3	3.4	-3.6
Q2	-12.1	4.1	-3.4	-13.3	1.7	-5.3
Q3	4.4	6.0	5.2	5.1	2.4	3.7
Q4	22.4	5.0	12.7	16.3	1.1	7.9
¹Chain linked series not additive

Open in Excel: Quarterly National Accounts Q4 2024 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 2022)¹ - Seasonally Adjusted

Table 6.3 Gross Value Added at Current Basic Prices & Constant Basic Prices (Chain linked annually and referenced to year 2022)¹ - Seasonally Adjusted						€million
	CURRENT BASIC PRICES			CONSTANT BASIC PRICES
Period	Foreign-owned MNE dominated	Other	Total	Foreign-owned MNE dominated	Other	Total
2018
Q1	32,486	43,799	76,285	32,396	51,864	84,260
Q2	32,358	44,952	77,310	34,792	52,842	87,634
Q3	34,737	45,632	80,369	34,625	53,370	87,995
Q4	34,998	46,453	81,450	34,813	54,133	88,946

2019
Q1	34,943	46,946	81,889	33,345	54,738	88,083
Q2	38,604	46,921	85,526	37,210	54,826	92,036
Q3	38,743	47,895	86,637	37,116	55,507	92,623
Q4	39,363	49,122	88,486	38,075	56,461	94,536

2020
Q1	42,865	49,326	92,191	42,994	56,220	99,213
Q2	43,897	41,648	85,545	44,761	47,336	92,097
Q3	45,865	46,669	92,534	46,953	52,572	99,525
Q4	44,437	47,923	92,360	46,438	53,981	100,418

2021
Q1	53,932	48,854	102,785	55,351	54,414	109,765
Q2	54,665	50,305	104,970	56,533	55,832	112,365
Q3	56,536	52,405	108,941	58,245	57,085	115,330
Q4	53,751	54,690	108,441	56,713	59,100	115,813

2022
Q1	62,266	56,194	118,460	61,935	57,899	119,834
Q2	65,614	58,325	123,939	64,199	58,737	122,936
Q3	66,850	59,839	126,690	66,503	59,359	125,862
Q4	64,067	61,917	125,984	67,883	60,330	128,213

2023
Q1	58,801	64,033	122,833	55,534	61,906	117,440
Q2	60,962	65,129	126,091	58,693	62,799	121,492
Q3	54,271	65,223	119,494	53,781	62,697	116,479
Q4	51,403	66,057	117,460	50,711	63,390	114,101

2024
Q1	51,950	67,415	119,366	49,856	63,839	113,695
Q2	52,465	67,812	120,277	51,086	63,848	114,933
Q3	57,877	69,078	126,955	56,386	64,233	120,619
Q4	61,871	69,499	131,371	58,505	64,128	122,633

Percentage change on previous quarter
2018
Q1	0.8	1.0	0.9	-0.9	1.5	0.6
Q2	-0.4	2.6	1.3	7.4	1.9	4.0
Q3	7.4	1.5	4.0	-0.5	1.0	0.4
Q4	0.8	1.8	1.3	0.5	1.4	1.1

2019
Q1	-0.2	1.1	0.5	-4.2	1.1	-1.0
Q2	10.5	-0.1	4.4	11.6	0.2	4.5
Q3	0.4	2.1	1.3	-0.3	1.2	0.6
Q4	1.6	2.6	2.1	2.6	1.7	2.1

2020
Q1	8.9	0.4	4.2	12.9	-0.4	4.9
Q2	2.4	-15.6	-7.2	4.1	-15.8	-7.2
Q3	4.5	12.1	8.2	4.9	11.1	8.1
Q4	-3.1	2.7	-0.2	-1.1	2.7	0.9

2021
Q1	21.4	1.9	11.3	19.2	0.8	9.3
Q2	1.4	3.0	2.1	2.1	2.6	2.4
Q3	3.4	4.2	3.8	3.0	2.2	2.6
Q4	-4.9	4.4	-0.5	-2.6	3.5	0.4

2022
Q1	15.8	2.8	9.2	9.2	-2.0	3.5
Q2	5.4	3.8	4.6	3.7	1.4	2.6
Q3	1.9	2.6	2.2	3.6	1.1	2.4
Q4	-4.2	3.5	-0.6	2.1	1.6	1.9

2023
Q1	-8.2	3.4	-2.5	-18.2	2.6	-8.4
Q2	3.7	1.7	2.7	5.7	1.4	3.4
Q3	-11.0	0.1	-5.2	-8.4	-0.2	-4.1
Q4	-5.3	1.3	-1.7	-5.7	1.1	-2.0

2024
Q1	1.1	2.1	1.6	-1.7	0.7	-0.4
Q2	1.0	0.6	0.8	2.5	0.0	1.1
Q3	10.3	1.9	5.6	10.4	0.6	4.9
Q4	6.9	0.6	3.5	3.8	-0.2	1.7
¹Chain linked series not additive