This publication is categorised as a CSO Frontier Series Output. Particular care must be taken when interpreting the statistics in this release as it may use new methods which are under development and/or data sources which may be incomplete, for example new administrative data sources.
Early estimates indicate that Gross Domestic Product (GDP) has increased by an estimated 3.2% in Quarter 1 (Q1) 2025, when compared with Q4 2024.
The result was driven mainly by a rise in the multinational dominated sectors in Q1 2025 with a more modest increase in the domestic economy.
Using the early estimate for Q1 2025, GDP is estimated to have expanded by 13.3% when compared with the same quarter in 2024.
The preliminary GDP estimate shows a seasonally adjusted increase of 3.2% in Q1 2025 in volume terms when compared with Q4 2024.
| Qtr on Qtr | |
| Q1 2021 | 10.0948 |
| Q2 2021 | 3.24999 |
| Q3 2021 | 2.2977 |
| Q4 2021 | -0.8498 |
| Q1 2022 | 3.9604 |
| Q2 2022 | 2.6036 |
| Q3 2022 | 2.6392 |
| Q4 2022 | -0.3889 |
| Q1 2023 | -4.9346 |
| Q2 2023 | -1.0464 |
| Q3 2023 | -2.0887 |
| Q4 2023 | -2.2274 |
| Q1 2024 | 1.595 |
| Q2 2024 | -0.3529 |
| Q3 2024 | 4.0586 |
| Q4 2024 | 3.6129 |
| Q1 2025 | 3.2193 |
In Q1 2025, GDP is estimated to have increased by 13.3% relative to Q1 2024.
| Year on Year | |
| Q1 2021 | 13.5701 |
| Q2 2021 | 23.0463 |
| Q3 2021 | 13.7531 |
| Q4 2021 | 15.2933 |
| Q1 2022 | 8.2623 |
| Q2 2022 | 8.1551 |
| Q3 2022 | 9.2224 |
| Q4 2022 | 8.7726 |
| Q1 2023 | -0.1594 |
| Q2 2023 | -3.9068 |
| Q3 2023 | -8.3816 |
| Q4 2023 | -9.0688 |
| Q1 2024 | -4.4744 |
| Q2 2024 | -3.0364 |
| Q3 2024 | 3.2303 |
| Q4 2024 | 9.182 |
| Q1 2025 | 13.3462 |
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Statistician's Comment
The Central Statistics Office (CSO) has today (29 April 2025) published its latest Preliminary GDP Estimate for Quarter 1 (Q1) 2025. This release is part of the CSO's Frontier Series and care must be taken when interpreting these results as methodologies may change and data sources may be incomplete.
These preliminary results are subject to revisions in the Quarterly National Accounts Q1 2025 release, which will be published in early June 2025 when additional data sources are available to the CSO. The results will be further updated following the release of the Annual National Accounts for 2024.
Commenting on the release, Enda Behan, Statistician in the National Accounts Integration Division, said: "In today’s release, GDP is estimated to have expanded by 3.2% in January, February and March (Q1) 2025 in volume terms when compared with Q4 2024. This was driven by an increase in the multinational dominated sectors in Q1 2025 with a more modest increase in the domestic sectors. GDP is estimated to have risen by 13.3% when compared with Q1 2024.
These preliminary estimates are based on forecasting and data sources that are limited in scope when compared with those used for compiling GDP in the CSO’s Quarterly National Accounts. The data sources include information from the CSO Large Cases Unit, Retail Sales, Administrative Payroll Data and other indicators of activity (Please see the Background Notes for more details on these estimates and the methodology used to calculate the preliminary results)."