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For more information on this release:
E-mail: nat_acc@cso.ie Michael Connolly (+353) 1 498 4006 Gordon Cavanagh (+353) 1 498 4307
For general information on CSO statistics:
information@cso.ie (+353) 21 453 5000 On-line ISSN 2711-9998
CSO statistical release, , 11am

Quarterly Gross Value Added for Foreign-owned Multinational Enterprises and Other Sectors

Quarter 2 2019 (Provisional)

GVA at constant (2017) basic prices for sectors dominated by Foreign-owned MNEs and Other Sectors - seasonally adjusted1
Q2 2019
    Amount €mQuarterly % change
Foreign-owned MNE dominated35,7685.3
Other 44,3550.7
Total GVA (MNE dominated + Other)79,7571.9
1 Seasonally Adjusted data are non-additive, see Background Notes for further details

Multinational sector growth was 5.3 per cent in Q2 2019 while non-MNE dominated sectors growth was 0.7 per cent.

Figure 1 Seasonally Adjusted growth rates(% change on previous quarter)
go to full release

On a seasonally adjusted basis, initial estimates indicate that Gross Value Added (GVA) in volume terms in the Foreign-owned MNE dominated sector increased by 5.3 per cent for the second quarter of 2019. GVA for the non-MNE dominated sectors of the economy increased by 0.7 per cent over the same period.

Real GVA for the total economy amounted to almost €80 billion in the Q2 2019 reference period, with GVA for MNE dominated sectors representing almost 45% of Total GVA while GVA for the non-MNE dominated sectors represented approximately 55% of the total.

The share of total GVA at constant prices accounted for by the foreign-owned MNE dominated sectors stood at 42.4 per cent in 2018, an increase from 40.2 per cent in 2017. 

  

The calculation methods for quarterly Gross Value Added (GVA) for Foreign-owned Multinational Enterprises and Other Sectors are similar to those used in the CSO’s annual GVA for Foreign-owned Multinational Enterprises and Other Sectors release. As some of the sources available quarterly are of lesser reliability than those used for the annual accounts, the quarterly estimates are subject to a greater margin of error than the equivalent annual figures. These preliminary quarterly estimates will therefore be revised when the next detailed annual results are published.

Data for the reference quarters contained in the tables of this release as well as data for earlier reference quarters can be downloaded from the StatBank database service on the CSO Website.

For annual data at the more detailed 37 sectoral breakdown level, please refer to Tables 21 and 22 of the National Income & Expenditure 2018 publication issued in August 2019. (For long time series of these annual data see StatBank Tables N1821 & N1822). For information on chain linking see NIE 2018 Methodology Note

Table A Gross Value Added at Current Basic Prices & Constant Basic Prices (Chain linked annually and referenced to year 2017)1€million
 CURRENT BASIC PRICES CONSTANT BASIC PRICES
PeriodForeign-owned MNE dominatedOther Total Foreign-owned MNE dominatedOther Total
201340,616123,949 164,565 46,601135,342 183,309
201445,181133,391 178,572 51,990143,410 196,771
2015100,347144,143 244,490 95,063152,814 247,657
2016100,013153,998 254,011 100,944158,338 259,224
2017111,353165,894 277,246 111,353165,894 277,246
2018126,040177,036 303,076 126,852172,398 299,251
          
2013         
Q110,36529,392 39,758 12,03732,023 44,357
Q210,55530,764 41,319 12,04633,524 45,895
Q310,09131,591 41,682 11,55534,594 46,507
Q49,60532,202 41,807 10,96335,201 46,549
          
2014         
Q111,19931,589 42,788 12,71534,088 47,118
Q212,33833,042 45,379 14,22635,443 49,967
Q311,35934,206 45,565 13,04336,775 50,177
Q410,28634,554 44,840 12,00737,105 49,509
          
2015         
Q124,83734,527 59,364 26,35036,592 62,737
Q223,94535,584 59,530 21,75237,663 59,432
Q324,95336,849 61,802 23,05439,267 62,322
Q426,61237,182 63,794 23,90839,292 63,166
          
2016         
Q123,55137,604 61,155 24,74838,686 63,425
Q222,00538,639 60,643 22,48839,653 61,933
Q324,64638,883 63,529 22,72640,156 62,668
Q429,81138,872 68,683 30,98339,843 71,198
          
2017         
Q126,18439,204 65,388 26,18839,449 65,634
Q223,11540,941 64,056 24,39640,788 65,151
Q327,97142,831 70,802 28,72142,877 71,597
Q434,08342,917 77,000 32,04842,780 74,865
          
2018         
Q130,18341,827 72,011 29,99640,597 70,594
Q227,84343,658 71,501 30,13342,450 72,583
Q334,35645,346 79,703 34,38744,285 78,672
Q433,65746,205 79,862 32,33645,066 77,402
          
2019         
Q131,11745,277 76,394 34,01642,591 76,607
Q230,43747,016 77,453 33,88243,819 77,701
          
Annual Percentage Changes
20130.65.0 3.9 -1.32.5 1.6
201411.27.6 8.5 11.66.0 7.3
2015122.18.1 36.9 82.86.6 25.9
2016-0.36.8 3.9 6.23.6 4.7
201711.37.7 9.1 10.34.8 7.0
201813.26.7 9.3 13.93.9 7.9
          
Percentage change on corresponding period of previous year
2013         
Q1-5.52.4 0.2 -7.1-0.2 -2.2
Q2-1.34.9 3.2 -2.82.0 0.7
Q33.47.1 6.1 0.24.8 3.6
Q47.55.6 6.0 6.33.4 4.2
          
2014         
Q18.07.5 7.6 5.66.4 6.2
Q216.97.4 9.8 18.15.7 8.9
Q312.68.3 9.3 12.96.3 7.9
Q47.17.3 7.3 9.55.4 6.4
          
2015         
Q1121.89.3 38.7 107.27.3 33.1
Q294.17.7 31.2 52.96.3 18.9
Q3119.77.7 35.6 76.86.8 24.2
Q4158.77.6 42.3 99.15.9 27.6
          
2016         
Q1-5.28.9 3.0 -6.15.7 1.1
Q2-8.18.6 1.9 3.45.3 4.2
Q3-1.25.5 2.8 -1.42.3 0.6
Q412.04.5 7.7 29.61.4 12.7
          
2017         
Q111.24.3 6.9 5.82.0 3.5
Q25.06.0 5.6 8.52.9 5.2
Q313.510.2 11.4 26.46.8 14.2
Q414.310.4 12.1 3.47.4 5.2
          
2018         
Q115.36.7 10.1 14.52.9 7.6
Q220.56.6 11.6 23.54.1 11.4
Q322.85.9 12.6 19.73.3 9.9
Q4-1.27.7 3.7 0.95.3 3.4
          
2019         
Q13.18.2 6.1 13.44.9 8.5
Q29.37.7 8.3 12.43.2 7.1
1Chain linked series not additive
Table B Gross Value Added at Current Basic Prices & Constant Basic Prices (Chain linked annually and referenced to year 2017)1 - Seasonally Adjusted€million
 CURRENT BASIC PRICES CONSTANT BASIC PRICES
PeriodForeign-owned MNE dominatedOther Total Foreign-owned MNE dominatedOther Total
2013         
Q19,92429,973 40,028 11,44033,057 44,764
Q210,25830,692 40,940 11,72333,496 45,599
Q310,25031,337 41,600 11,72434,169 46,293
Q410,03131,922 41,819 11,61734,607 46,628
          
2014         
Q110,81232,207 43,139 12,10634,996 47,358
Q212,24732,996 45,343 14,07935,621 50,084
Q311,50933,840 45,393 13,23036,211 49,807
Q410,37534,361 44,404 12,40736,599 49,434
          
2015         
Q124,25035,139 59,889 25,25037,472 62,734
Q224,50735,571 60,293 21,98337,931 60,398
Q325,05036,387 61,431 23,25738,584 61,631
Q425,97637,043 62,355 24,12338,788 62,490
          
2016         
Q123,25838,253 61,819 23,91739,774 63,621
Q223,26038,639 62,314 23,21339,830 63,559
Q324,45238,359 62,848 22,73539,410 61,658
Q428,28738,702 66,466 30,61139,258 69,875
          
2017         
Q126,21239,940 66,295 25,62540,503 66,320
Q225,07840,986 66,607 25,54841,199 67,162
Q327,37342,204 69,485 28,46542,014 70,010
Q431,83242,609 74,196 31,28141,988 73,207
          
2018         
Q130,49942,757 73,389 29,64342,019 71,983
Q230,72543,728 74,682 31,81842,759 74,662
Q333,25944,652 77,638 33,82743,360 76,511
Q431,20245,758 77,048 31,33844,076 75,967
          
2019         
Q131,67746,382 78,138 33,96744,046 78,294
Q233,79647,135 80,897 35,76844,355 79,757
          
Percentage change on previous quarter
2013         
Q14.0-0.7 1.0 3.0-0.9 -0.0
Q23.42.4 2.3 2.51.3 1.9
Q3-0.12.1 1.6 0.02.0 1.5
Q4-2.11.9 0.5 -0.91.3 0.7
          
2014         
Q17.80.9 3.2 4.21.1 1.6
Q213.32.4 5.1 16.31.8 5.8
Q3-6.02.6 0.1 -6.01.7 -0.6
Q4-9.91.5 -2.2 -6.21.1 -0.7
          
2015         
Q1133.72.3 34.9 103.52.4 26.9
Q21.11.2 0.7 -12.91.2 -3.7
Q32.22.3 1.9 5.81.7 2.0
Q43.71.8 1.5 3.70.5 1.4
          
2016         
Q1-10.53.3 -0.9 -0.92.5 1.8
Q20.01.0 0.8 -2.90.1 -0.1
Q35.1-0.7 0.9 -2.1-1.1 -3.0
Q415.70.9 5.8 34.6-0.4 13.3
          
2017         
Q1-7.33.2 -0.3 -16.33.2 -5.1
Q2-4.32.6 0.5 -0.31.7 1.3
Q39.23.0 4.3 11.42.0 4.2
Q416.31.0 6.8 9.9-0.1 4.6
          
2018         
Q1-4.20.3 -1.1 -5.20.1 -1.7
Q20.72.3 1.8 7.31.8 3.7
Q38.22.1 4.0 6.31.4 2.5
Q4-6.22.5 -0.8 -7.41.7 -0.7
          
2019         
Q11.51.4 1.4 8.4-0.1 3.1
Q26.71.6 3.5 5.30.7 1.9
1Chain linked series not additive
Update Note Thurs 07.11.2019: GVAFM_Q Table B percentage change label was corrected from "Percentage change on corresponding period of previous year " to "Percentage change on previous quarter " on Thurs 7 November, 2019.

Background Notes

Gross Value Added at Constant Basic Prices Nace Rev 2 

This release provides gross value added at current basic prices and constant basic prices (chain linked and referenced to 2017) for the economy divided into two sectors, namely

(a) the economic sectors dominated by Foreign-owned Multi National Enterprises (MNEs)

and

(b) all other remaining sectors.

Gross value added at basic prices is measured as the difference between out­put at basic prices and intermediate consumption at purchasers’ prices.

The sectoral data underlying the aggregates in the release are the same as those used for

  1. Gross Value Added for Foreign-owned Multinational Enterprises and Other Sectors Annual Results 2018 (CSO StatBank Table N1823)

    and

  2. National Income & Expenditure 2018 (NIE 2018) Table 4 (CSO StatBank Table N1804), which gives a breakdown of the economy at Constant Basic Prices by 10 principal economic sectors (Nace Rev.2 A10) and NIE Table 22 (CSO StatBank Table N1822) which illustrates a 37 sector breakdown of the Irish economy.

The correspondence with the relevant A10 sections of NACE Rev.2 is as follows: 

Agriculture, forestry and fishing Section A
Industry (excluding Construction) Sections B,C,D,E
Of which: Manufacturing Section C
Construction Section F
Distribution, transport, hotels and restaurants Sections G,H,I
Information and communication Section J
Financial and insurance activities Section K
Real estate activities Section L
Professional, admin and support services Sections M,N
Public admin, education and health Sections O,P,Q
Arts, entertainment and other services Sections R,S,T

National accounts are compiled in the EU according to the European System of National and Regional Accounts (ESA) framework. In 2014, the new ESA 2010 framework replaced the ESA 95 version and all EU member states were required to adopt ESA 2010 by September 2014. ESA 2010 is the European version of the current UN mandated international standards for national accounts statistics, the System of National Accounts (SNA) 2008. The results for all years in this release are published on an ESA 2010 basis.

Nace classification

In compliance with EU regulations the contents of the sectors in this release conform to the Nace Rev. 2 system which corresponds with the UN International Standard Industrial Classification (ISIC Rev 4).

For the Foreign-owned MNE dominated sector and ‘Other’ sector variables set out in Tables A and B of this release, the following is the correspondence with the relevant NIE and Nace Rev. 2 sectors:

NIE Sectors

Nace 2 Sections

Foreign-owned
MNE dominated
(Nace codes)

Other
(Nace codes)

Agriculture, forestry and fishing  

Section A

 

01-03

Industry (excluding Construction)

Sections B to E

18.2, 20, 21, 26,
27 and 32.5

05-18.1,
19, 22-25,
28-32.4 and
32.9-39

Of which: Manufacturing

Section C

18.2, 20, 21, 26,
27 and 32.5

10-18.1,
19, 22-25
28-32.4 and
32.9-33

Construction

Section F

 

41-43

Distribution, transport, hotels and restaurants 

Sections G to I

 

45-56

Information and communication

Section J

58-63

n.a.

Financial and insurance activities

Section K

 

64-66

Real estate activities

Section L

 

68

Professional, admin and support services

Sections M to N

 

69-82

Public admin, education and health

Sections O to Q

 

84-88

Arts, entertainment and other services

Sections R to T

 

90-98

Volumes

For further information on the Nace Rev. 2 classification of industrial activity, visit the CSO website:

https://www.cso.ie/en/methods/classifications/industrialactivity/

Seasonal Adjustment

Seasonal adjustment is conducted using the direct seasonal adjustment approach. Under this approach, each individual time series is independently adjusted, i.e. aggregate series are adjusted without reference to the component series. This direct approach is applied to the Foreign-owned MNE dominated sector, the combination of all other remaining non-MNE dominated NACE sectors (i.e. the ‘Other’ sector) and the seasonally adjusted values for the total economy are not derived as the sum of the seasonally adjusted components but rather by seasonally adjusting the unadjusted values for the total economy as shown in Table A. On this account, the sum of the seasonally adjusted components of the Foreign-owned MNE dominated and ‘Other’ sectors do not add to the respective seasonally adjusted total economy series. As part of the seasonal adjustment process, ARIMA models have been identified for each series based on unadjusted data spanning Q1 1995 to Q2 2019. These models are then applied to the entire series (Q1 1995 to Q2 2019). Seasonal factors and the parameters of the ARIMA models will be updated each quarter.

The adjustments are completed by applying the X-13-ARIMA model, developed by the U.S. Census Bureau to the unadjusted data. This methodology estimates seasonal factors while also taking into consideration factors that impact on the quality of the seasonal adjustment such as:

  • Calendar effects, e.g. the timing of Easter,
  • Outliers, temporary changes and level shifts in the series.

For additional information on the use of X-13-ARIMA see
www.census.gov/srd/www/winx13/

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