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Annual National Accounts 2023

Domestic Demand

Domestic Demand increased by 4.0%, Modified Domestic Demand grew by 2.6%

Online ISSN: 2811-5724

CSO statistical publication, 12 July 2024, 11am

	Personal Consumption of Goods & Services	Net Expenditure by Local & Central Government on Goods & Services	Gross Domestic Fixed Capital Formation	Final Domestic Demand
2015	106.0258297316	32.9600843024	79.7585345053575	219.0006802886
2016	110.5611107467	34.4252599748	111.594657840408	256.1715025864
2017	114.1971830479	35.7241351531	115.75053205846	265.2400831059
2018	120.1831246122	37.3636563465	105.233485584077	262.4859327522
2019	123.6150991747	39.8083087461	210.129099529241	372.972394904
2020	111.9107114315	44.4499509245	175.521726122213	331.2333031831
2021	121.8173860412	47.2666250978	106.41557000274	275.5031972075
2022	134.8731720969	48.6930470024	110.306034753403	293.8722538527
2023	141.3394636749	50.781517432	113.393007168946	305.5139882758

Figure 9.1 shows the contributions to final domestic demand. Of this total, personal consumption of goods and services accounts for 46.3%, net expenditure by central and local government on current goods and services accounts for 16.6% while gross domestic fixed capital formation accounts for 37.1%.

	Personal Consumption of Goods & Services	Net Expenditure by Local & Central Government on Goods & Services	Modified Gross Domestic Fixed Capital Formation	Modified Final Domestic Demand
2015	106.0258297316	32.9600843024	42.1816400908	181.1161296368
2016	114.1971830479	34.4252599748	45.0966733255	189.8913578679
2017	114.1971830479	35.7241351531	48.0161063456	197.580945485
2018	120.1831246122	37.3636563465	51.2458784241	208.3423579362
2019	123.6150991747	39.8083087461	49.8415184913	213.0469373195
2020	111.9107114315	44.4499509245	44.6096197134	200.9981190213
2021	121.8173860412	47.2666250978	47.8885164868	217.0124402698
2022	134.8731720969	48.6930470024	52.5488072748	236.1150263741
2023	141.3394636749	50.781517432	50.2234034577	242.3443845646

Figure 9.2 shows the contributions to modified final domestic demand. For this deglobalised measure, personal consumption of goods and services accounts for 58.3%, net expenditure by central and local government on current goods and services accounts for 21.0% while modified gross domestic capital formation accounts for 20.7%.

Final Domestic Demand, comprises of:
(a) Personal consumption of goods and services
(b) Net expenditure by central and local government
(c) Gross domestic fixed capital formation

Final Domestic Demand grew by 4.0% in real terms in 2023 compared with 2022. When the Value of physical changes in stocks and net acquisitions of valuables are taken into account, Total Domestic Demand increased by 6.0% in the year.

Modified Final Domestic Demand, comprises of:
(a) Personal consumption of goods and services
(b) Net expenditure by central and local government
(c) Modified Gross domestic fixed capital formation – Excludes investment in Aircraft related to Leasing, and R&D service imports and trade in IP

Modified Final Domestic Demand expanded by 2.6% in year 2023 over 2022 in real terms while Modified Total Domestic Demand (which also includes the value of physical changes in stocks and net acquisitions of valuables) increased by 5.3% over the same period.

Table 9.1 Domestic Demand at Current Market Prices

Table 9.2 Annual Percentage Changes in the Main Constituents of Table 9.1

Table 9.3 Domestic Demand at Constant Market Prices (chain linked annually and referenced to year 2022)

Table 9.4 Annual Percentage Changes in the Main Constituents of Table 9.2

Table 9.5 Modified Domestic Demand at Current Market Prices

Table 9.6 Annual Percentage Changes in the Main Constituents of Table 9.5

Table 9.7 Modified Domestic Demand at Constant Market Prices (chain linked annually and referenced to year 2022)

Table 9.8 Annual Percentage Changes in the Main Constituents of Table 9.7

Next chapter: Personal Spending

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Table 9.1 Domestic Demand at Current Market Prices							€ million
Description	ESA Code	2018	2019	2020	2021	2022	2023¹
79. Personal consumption of goods and services	P.3	107,278	112,184	101,761	113,823	134,873	152,720
of which:
79(a) Final consumption expenditure of households and NPISHs		100,928	105,409	94,482	105,820	126,046	142,651
79(b) Final consumption expenditure of government		6,350	6,774	7,280	8,003	8,827	10,069
80. Net expenditure by central and local government on current goods and services	P.3	33,055	36,255	40,979	44,614	48,693	53,247
81. Gross domestic fixed capital formation	P.51	93,499	193,555	157,987	99,007	110,306	118,231
Final Domestic Demand		233,832	341,994	300,727	257,444	293,872	324,198
82. Value of physical changes in stocks and net acquisitions of valuables²	P.52 & P.53	923	1,788	4,309	4,811	9,085	16,051
Total Domestic Demand		234,755	343,782	305,036	262,255	302,957	340,248
¹Preliminary

Table 9.2 Annual Percentage Changes in the Main Constituents of Table 9.1							%
Description	ESA Code	2018-2023	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023
Personal consumption of goods and services	P.3	7.3	4.6	-9.3	11.9	18.5	13.2
Net expenditure by central and local government on current goods and services	P.3	10.0	9.7	13.0	8.9	9.1	9.4
Gross domestic physical capital formation	P.5	7.3	106.9	-16.9	-36.0	15.0	12.5
of which
Gross domestic fixed capital formation	P.51	4.8	107.0	-18.4	-37.3	11.4	7.2
Final Domestic Demand		6.8	46.3	-12.1	-14.4	14.2	10.3
Total Domestic Demand		7.7	46.4	-11.3	-14.0	15.5	12.3

Table 9.3 Domestic Demand at Constant Market Prices (chain linked annually and referenced to year 2022)²							€ million
Description	ESA Code	2018	2019	2020	2021	2022	2023¹
92. Personal consumption of goods and services	P.3	120,183	123,615	111,911	121,817	134,873	141,339
of which:
92(a) Final consumption expenditure of households and NPISHs		113,445	116,541	104,505	113,803	126,046	131,376
92(b) Final consumption expenditure of government		6,791	7,122	7,399	8,011	8,827	9,963
93. Net expenditure by central and local government on current goods and services	P.3	37,364	39,808	44,450	47,267	48,693	50,782
94. Gross domestic fixed capital formation²	P.51	105,233	210,129	175,522	106,416	110,306	113,393
Final Domestic Demand		262,486	372,972	331,233	275,503	293,872	305,514
95. Value of physical changes in stocks and net acquisitions of valuables	P.52 & P.53	841	1,689	4,399	5,018	9,085	15,740
Total Domestic Demand		262,715	373,906	335,401	280,433	302,957	321,254
¹Preliminary
²Chain linked series not additive except for 2022 and 2023

Table 9.4 Annual Percentage Changes in the Main Constituents of Table 9.3							%
Description	ESA Code	2018-2023	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023
Personal consumption of goods and services	P.3	3.3	2.9	-9.5	8.9	10.7	4.8
Net expenditure by central and local government on current goods and services	P.3	6.3	6.5	11.7	6.3	3.0	4.3
Gross domestic physical capital formation	P.5	4.0	99.7	-15.1	-38.1	7.1	8.2
of which
Gross domestic fixed capital formation	P.51	1.5	99.7	-16.5	-39.4	3.7	2.8
Final Domestic Demand		3.1	42.1	-11.2	-16.8	6.7	4.0
Total Domestic Demand		4.1	42.3	-10.3	-16.4	8.0	6.0

ANA Table 9.5 Modified Domestic Demand at Current Market Prices							€ million
Description	ESA Code	2018	2019	2020	2021	2022	2023¹
79. Personal consumption of goods and services	P.3	107,278	112,184	101,761	113,823	134,873	152,720
of which:
79(a) Final consumption expenditureof households and NPISHs		100,928	105,409	94,482	105,820	126,046	142,651
79(b) Final consumption expenditure of government		6,350	6,774	7,280	8,003	8,827	10,069
80. Net expenditure by central and local government on current goods and services	P.3	33,055	36,255	40,979	44,614	48,693	53,247
Modified Gross domestic fixed capital formation	Mod P.51	41,159	41,315	37,632	43,175	52,549	52,580
Modified Final Domestic Demand		181,491	189,754	180,372	201,612	236,115	258,547
82. Value of physical changes in stocks and net acquisitions of valuables	P.52 & P.53	923	1,788	4,309	4,811	9,085	16,051
Modified Total Domestic Demand		182,414	191,542	184,681	206,423	245,200	274,597
¹Preliminary

Annual National Accounts 2023

Domestic Demand

Domestic Demand

Domestic Demand increased by 4.0%, Modified Domestic Demand grew by 2.6%

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ANA Table 9.6 Annual Percentage Changes in the Main Constituents of Table 9.5							%
Description	ESA Code	2018-2023	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023
Personal consumption of goods and services	P.3	7.3	4.6	-9.3	11.9	18.5	13.2
Net expenditure by central and local government on current goods and services	P.3	10.0	9.7	13.0	8.9	9.1	9.4
Modfied Gross domestic physical capital formation	Mod P.5	10.3	2.4	-2.7	14.4	28.4	11.4
of which
Modified Gross domestic fixed capital formation	Mod P.51	5.0	0.4	-8.9	14.7	21.7	0.1
Modified Final Domestic Demand		7.3	4.6	-4.9	11.8	17.1	9.5
Modified Total Domestic Demand		8.5	5.0	-3.6	11.8	18.8	12.0

Table 9.7 Modified Domestic Demand Annex at Constant Market Prices (chain linked annually and referenced to year 2022)²							€ million
Description	ESA Code	2018	2019	2020	2021	2022	2023 ¹
92. Personal consumption of goods and services	P.3	120,183	123,615	111,911	121,817	134,873	141,339
of which:
92(a) Final consumption expenditure of households and NPISHs		113,445	116,541	104,505	113,803	126,046	131,376
92(b) Final consumption expenditure of government		6,791	7,122	7,399	8,011	8,827	9,963
93. Net expenditure by central and local government on current goods and services	P.3	37,364	39,808	44,450	47,267	48,693	50,782
Modified Gross domestic fixed capital formation	Mod P.51	51,246	49,842	44,610	47,889	52,549	50,223
Modified Final Domestic Demand		208,342	213,047	200,998	217,012	236,115	242,344
95. Value of physical changes in stocks and net acquisitions of valuables	P.52 & P.53	841	1,689	4,399	5,018	9,085	15,740
Modified Total Domestic Demand		208,323	214,067	205,280	221,928	245,200	258,084
¹Preliminary
²Chain linked series not additive except for 2022 and 2023