Of the €1.2 trillion supplied in 2019, €724 billion (61%) was Domestic Supply, €437 billion (37%) was made up of Imports, with the rest (2%) comprised of Product Taxes & Subsidies.
Some €451 billion (38%) of Total Supply was exported, €390 billion (33%) was used for further production, €197 billion (17%) was invested as Capital Formation, and €146 billion (12%) was consumed by households, general government, and non-profit institutions serving households.
More than 54% or €390 billion of total Domestic Supply was used for further production (Intermediate Consumption). Domestic Supply minus Intermediate Consumption leaves Gross Value Added (GVA) of €334 billion (46%).
Investment, known as Capital Formation (including changes in Inventories) was valued at €197 billion in 2019.
The largest product category consumed by households in 2019 was housing (CPA 68) at €21 billion.
Food exports accounted for €17.5 billion or 55%, of total food products (CPA 10) in 2019, while domestic household consumption of food was €6 billion or 19% of the total.
Statistician's Comment
The Central Statistics Office (CSO) has today (29 November 2022) released Supply and Use Tables for Ireland 2019.
Commenting on the release, Becky Mangan, Statistician, said:
“Supply and Use Tables (SUTs) inform us about what firms produced, what they used in production, what people consumed, and the role of the government in the Irish economy. Although the aggregate values from the SUTs have been previously published by the CSO, this release and its tables provide extensive product detail that cannot be found elsewhere in publications on the Irish economy.
The SUTs give us a detailed understanding of the Irish economy in a given year. At a high level in the Supply Table, we saw a total €1.2 trillion supplied in the Irish economy in 2019. This is up from €965 billion in 2018 or 24%. Of this €1.2 trillion, €724 billion (61%) was domestic production, €437 billion (37%) was imported, and the rest was made up of taxes and subsides (2%).
Domestic Production and Imports
The percentage shares of domestic production and imports vary widely across product categories. For example, Total Supply of Motor Vehicles, Trailers & Other Transport Equipment (CPA 29-30) was worth €32 billion in 2019, of which 86% was imported. However, Agriculture, Forestry & Fishing (CPA 01-03) products were worth €14 billion, of which only 13% was comprised of imports.
Domestic production was heavily concentrated in Manufacturing and Information & Communications Technology (ICT) products (CPA 10-33 and CPA 58-63 respectively). This accounted for €372 billion of the €724 billion or 51% of all Domestic Supply.
Total Consumption in Domestic Economy Plus Exports
Total consumption in the domestic economy, which includes exports, is known as Total Uses. In 2019, Total Uses in the Irish economy amounted to €1.2 trillion. As mentioned, exports made up the largest share of Total Uses but the share varies depending on the product categories. For example, Food (CPA 11), a globalised product, had exports of €17.5 billion (55%) in 2019 where household consumption accounted for just €6 billion (19%). Looking at Construction (CPA 41-43), which is a more localised product, the Total Use was €37 billion. Most of this consisted of Capital Formation (the production of buildings and infrastructure), while the remainder was made up of maintenance of buildings and infrastructure. We estimate that imported construction services accounted for €1 billion (3%) in 2019, while exports accounted for €106 million (0.3%).
Households, Government, and Non-Profit Institutions Serving Households (NPISHs)
Households, Government, and Non-Profit Institutions Serving Households (NPISHs) consumed a total of €146 billion of Final Consumption. NPISHs consist of non-profit institutions such as charities, churches, sports clubs, and non-commercial agencies not owned by the government. While these have a sizable role in Irish society, they only make up a small share of Final Consumption in the economy, accounting for €1.8 billion (2%) in 2019. This was concentrated in Human Health & Social Work, Education, Sports & Recreation Activities (CPA 85-88, 93).
Household consumption was the most important component when it comes to calculating the Final Consumption figure, with a value of €101 billion (69%). The largest product consumed by households in 2019 was housing (Real Estate Services (CPA 68)), worth €21 billion. This figure includes an estimate for imputed rent payments. Final consumption by the Government was worth €42 billion (29%). This spending was concentrated in Human Health & Social Work, Education, and Land Transport (CPA 49, 84-88).”