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Quarterly National Accounts Quarter 4 2025

Foreign and Domestic GVA

Multinational sector contracted by 2.6% in Q4 2025 while Non-MNE dominated expanded by 1.6%

Online ISSN: 2009-5775

CSO statistical release, 05 March 2026, 11am

Table 6.1 Gross Value Added for sectors dominated by Foreign-owned MNEs and Other Sectors, Q4 2025¹
	Amount €m	Quarterly % change
Foreign-owned MNE dominated	73,975	-2.6
Other	69,124	1.6
Total GVA (MNE dominated + Other)	143,099	-0.6
¹Constant Market Prices, chain linked annually and referenced to year 2023, seasonally adjusted

Open in Excel: Quarterly National Accounts Q4 2025 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 fell by 2.6% in the fourth quarter of 2025. GVA for the non-MNE dominated sectors of the economy rose by 1.6% over the same period.

Real GVA for the total economy amounted to €143.1 billion in the Q4 2025 reference period, with GVA for MNE dominated sectors representing 51.7% of Total GVA while GVA for the non-MNE dominated sectors represented 48.3% of the total.

	Foreign-owned MNE-dominated	Other
Q1 2023	-18.8525743245483	3.77067653763923
Q2 2023	5.91660049447136	2.0068391946114
Q3 2023	-6.28486943356912	0.138621743301792
Q4 2023	-0.336285569996941	0.974676846486044
Q1 2024	-7.7487885776809	0.981700502789939
Q2 2024	4.84795102264544	0.25493665277323
Q3 2024	10.7390989744089	2.15724729835838
Q4 2024	7.93703015089688	-0.251566472953402
Q1 2025	11.5833822514992	-0.00024019437993017
Q2 2025	0.778190264641943	-0.422058774950518
Q3 2025	-0.14500065748948	-0.160780635327273
Q4 2025	-2.60131151133414	1.55148101430218

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 2023)

Table 6.2 Gross Value Added at Current Basic Prices & Constant Basic Prices (Chain linked annually and referenced to year 2023)¹						€million
	Current Basic Prices			Constant Basic Prices
Period	Foreign-owned MNE dominated	Other	Total	Foreign-owned MNE dominated	Other	Total
2019	151,956	191,093	343,049	152,375	226,872	373,646
2020	174,789	183,876	358,665	189,456	214,307	402,396
2021	217,785	204,858	422,643	237,505	231,524	468,704
2022	263,044	233,934	496,978	269,585	240,232	509,871
2023	237,410	261,863	499,274	237,410	261,863	499,274
2024	256,280	279,597	535,877	241,013	271,311	512,324
2025	319,303	290,957	610,260	301,402	273,872	575,275

2019
Q1	35,748	45,710	81,458	34,443	54,407	87,392
Q2	35,626	46,683	82,309	37,979	55,904	92,527
Q3	38,305	48,416	86,721	39,277	57,647	95,531
Q4	42,278	50,284	92,562	40,676	58,913	98,196

2020
Q1	43,628	47,531	91,159	44,272	55,514	99,017
Q2	40,592	41,083	81,676	45,635	48,081	93,679
Q3	46,853	46,770	93,624	50,259	54,511	104,601
Q4	43,715	48,492	92,207	49,291	56,201	105,100

2021
Q1	53,580	47,148	100,728	56,929	53,394	110,323
Q2	50,443	49,835	100,278	57,283	56,842	114,009
Q3	57,630	52,499	110,129	62,876	58,987	121,863
Q4	56,132	55,376	111,508	60,417	62,302	122,509

2022
Q1	61,414	54,139	115,553	62,667	56,877	119,537
Q2	60,802	57,879	118,682	63,734	59,838	123,528
Q3	71,538	59,715	131,253	71,451	60,780	132,299
Q4	69,290	62,201	131,491	71,734	62,736	134,507

2023
Q1	60,042	62,760	122,801	58,439	62,782	121,223
Q2	59,253	65,715	124,969	60,492	65,760	126,253
Q3	60,774	66,252	127,026	61,000	66,182	127,182
Q4	57,341	67,137	124,478	57,480	67,140	124,616

2024
Q1	59,376	67,521	126,897	53,614	65,691	119,305
Q2	61,011	69,378	130,389	55,029	67,217	122,245
Q3	65,501	71,400	136,901	65,572	69,041	134,613
Q4	70,393	71,298	141,691	66,798	69,363	136,161

2025
Q1	87,366	71,664	159,030	74,928	67,245	142,173
Q2	80,127	72,403	152,531	74,073	68,103	142,176
Q3	77,634	71,174	148,807	79,525	68,374	147,899
Q4	74,176	75,716	149,892	72,876	70,150	143,026

Annual Percentage Changes
2019	13.6	5.4	8.9	6.7	4.3	5.3
2020	15.0	-3.8	4.6	24.3	-5.5	7.7
2021	24.6	11.4	17.8	25.4	8.0	16.5
2022	20.8	14.2	17.6	13.5	3.8	8.8
2023	-9.7	11.9	0.5	-11.9	9.0	-2.1
2024	7.9	6.8	7.3	1.5	3.6	2.6
2025	24.6	4.1	13.9	25.1	0.9	12.3

Percentage change on corresponding period of previous year
2019
Q1	11.1	7.0	8.8	2.1	5.4	4.0
Q2	16.0	4.1	8.9	7.2	3.7	5.2
Q3	12.0	4.9	7.9	8.6	3.8	5.8
Q4	15.2	5.7	9.9	8.4	4.1	5.9

2020
Q1	22.0	4.0	11.9	28.5	2.0	13.3
Q2	13.9	-12.0	-0.8	20.2	-14.0	1.2
Q3	22.3	-3.4	8.0	28.0	-5.4	9.5
Q4	3.4	-3.6	-0.4	21.2	-4.6	7.0

2021
Q1	22.8	-0.8	10.5	28.6	-3.8	11.4
Q2	24.3	21.3	22.8	25.5	18.2	21.7
Q3	23.0	12.2	17.6	25.1	8.2	16.5
Q4	28.4	14.2	20.9	22.6	10.9	16.6

2022
Q1	14.6	14.8	14.7	10.1	6.5	8.4
Q2	20.5	16.1	18.4	11.3	5.3	8.3
Q3	24.1	13.7	19.2	13.6	3.0	8.6
Q4	23.4	12.3	17.9	18.7	0.7	9.8

2023
Q1	-2.2	15.9	6.3	-6.7	10.4	1.4
Q2	-2.5	13.5	5.3	-5.1	9.9	2.2
Q3	-15.0	10.9	-3.2	-14.6	8.9	-3.9
Q4	-17.2	7.9	-5.3	-19.9	7.0	-7.4

2024
Q1	-1.1	7.6	3.3	-8.3	4.6	-1.6
Q2	3.0	5.6	4.3	-9.0	2.2	-3.2
Q3	7.8	7.8	7.8	7.5	4.3	5.8
Q4	22.8	6.2	13.8	16.2	3.3	9.3

2025
Q1	47.1	6.1	25.3	39.8	2.4	19.2
Q2	31.3	4.4	17.0	34.6	1.3	16.3
Q3	18.5	-0.3	8.7	21.3	-1.0	9.9
Q4	5.4	6.2	5.8	9.1	1.1	5.0
¹Chain linked series not additive

Open in Excel: Quarterly National Accounts Q4 2025 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 2023) - Seasonally Adjusted

Table 6.3 Gross Value Added at Current Basic Prices & Constant Basic Prices (Chain linked annually and referenced to year 2023)¹ - Seasonally Adjusted						€million
	Current Basic Prices			Constant Basic Prices
Period	Foreign-owned MNE dominated	Other	Total	Foreign-owned MNE dominated	Other	Total
2019
Q1	34,596	46,978	81,574	35,060	56,121	91,181
Q2	38,433	46,961	85,394	38,989	56,188	95,177
Q3	38,811	47,875	86,687	38,950	56,762	95,712
Q4	40,459	49,188	89,647	40,387	57,858	98,245

2020
Q1	42,427	48,916	91,343	45,078	57,357	102,435
Q2	43,570	41,276	84,846	46,793	48,222	95,014
Q3	46,018	46,237	92,256	49,314	53,696	103,010
Q4	45,573	47,547	93,120	49,505	55,284	104,789

2021
Q1	53,553	48,484	102,037	57,831	55,148	112,980
Q2	53,668	49,900	103,568	58,882	56,848	115,730
Q3	56,573	51,999	108,573	61,158	58,213	119,371
Q4	55,657	54,505	110,161	61,156	61,437	122,592

2022
Q1	61,652	55,499	117,151	63,464	58,584	122,049
Q2	63,968	57,754	121,722	65,813	59,710	125,523
Q3	68,098	59,288	127,386	69,045	60,173	129,218
Q4	67,761	61,571	129,331	72,880	62,006	134,886

2023
Q1	60,140	63,907	124,047	59,140	64,344	123,484
Q2	61,704	65,507	127,212	62,639	65,636	128,275
Q3	59,131	65,972	125,104	58,702	65,727	124,429
Q4	58,010	66,688	124,698	58,505	66,367	124,872

2024
Q1	57,055	68,329	125,384	53,971	67,019	120,990
Q2	61,163	69,212	130,375	56,588	67,190	123,778
Q3	66,142	71,283	137,425	62,665	68,639	131,304
Q4	72,432	70,892	143,324	67,639	68,466	136,105

2025
Q1	82,071	72,245	154,317	75,474	68,466	143,940
Q2	81,895	72,255	154,150	76,061	68,177	144,238
Q3	77,749	71,304	149,053	75,951	68,068	144,018
Q4	80,928	75,134	156,062	73,975	69,124	143,099

Percentage change on previous quarter
2019
Q1	-1.7	0.9	-0.2	-4.6	1.0	-1.2
Q2	11.1	-0.0	4.7	11.2	0.1	4.4
Q3	1.0	1.9	1.5	-0.1	1.0	0.6
Q4	4.2	2.7	3.4	3.7	1.9	2.6

2020
Q1	4.9	-0.6	1.9	11.6	-0.9	4.3
Q2	2.7	-15.6	-7.1	3.8	-15.9	-7.2
Q3	5.6	12.0	8.7	5.4	11.4	8.4
Q4	-1.0	2.8	0.9	0.4	3.0	1.7

2021
Q1	17.5	2.0	9.6	16.8	-0.2	7.8
Q2	0.2	2.9	1.5	1.8	3.1	2.4
Q3	5.4	4.2	4.8	3.9	2.4	3.1
Q4	-1.6	4.8	1.5	-0.0	5.5	2.7

2022
Q1	10.8	1.8	6.3	3.8	-4.6	-0.4
Q2	3.8	4.1	3.9	3.7	1.9	2.8
Q3	6.5	2.7	4.7	4.9	0.8	2.9
Q4	-0.5	3.9	1.5	5.6	3.0	4.4

2023
Q1	-11.2	3.8	-4.1	-18.9	3.8	-8.5
Q2	2.6	2.5	2.6	5.9	2.0	3.9
Q3	-4.2	0.7	-1.7	-6.3	0.1	-3.0
Q4	-1.9	1.1	-0.3	-0.3	1.0	0.4

2024
Q1	-1.6	2.5	0.6	-7.7	1.0	-3.1
Q2	7.2	1.3	4.0	4.8	0.3	2.3
Q3	8.1	3.0	5.4	10.7	2.2	6.1
Q4	9.5	-0.5	4.3	7.9	-0.3	3.7

2025
Q1	13.3	1.9	7.7	11.6	-0.0	5.8
Q2	-0.2	0.0	-0.1	0.8	-0.4	0.2
Q3	-5.1	-1.3	-3.3	-0.1	-0.2	-0.2
Q4	4.1	5.4	4.7	-2.6	1.6	-0.6
¹Chain linked series not additive