Annual National Accounts 2023

This year, 2024, is a Benchmark revision year for National Accounts purposes across EU Member States. Benchmark revisions are a coordinated major European revision carried out at least once every five years to incorporate new data sources and major changes in statistical methodology.

This benchmark revision will lead to revisions from the reference period 2011 onwards.

Changes to methodology and data sources in this year's Annual National Accounts include:

• Annual microdata files for the year 2022, these include detailed files from annual CSO business surveys and annual firm level data from the Revenue Commissioners.
• Annual revisions to 2013-2022 data from CSO’s Balance of Payments surveys.
• Update to compensation of employment estimates to include Self-employed/Mixed Income improvement work using Revenue Commissioners data, improvements to employment estimates which will incorporate latest Census of Population 2022 and Labour Force Survey data.
• Update to PCE to incorporate latest Census of Population 2022 and Household Budget Survey data 2022.
• Improvements to International Accounts profits estimates arising from improved survey grossing process.
• Revisions to Aircraft Leasing estimates.
• Revisions to estimate of investment in Other Building & Construction.
• Revisions to depreciation estimates due to changes to Perpetual Inventory Method implemented including revisions to service lives as recommended by DMES Task Force on Fixed Assets and Estimation of Consumption of Fixed Capital under ESA 2010.
• Change in split in D12 between corporations and government changes to resolve issue with imputed social contributions in Government accounts pre-2011.
• Review of GNI* growth rates and deflators.

The following tables show updates from the Annual National Accounts 2022 results as a percent of GDP, including impact of update to chain linked reference year.

Table 3.4 Updates shows the updates to Gross Value Added at Basic Prices by Sector of Origin and Gross National Income at Current Market Prices.

Table 3.6 Updates shows the updates to Gross Value Added at Constant Basic Prices by Sector of Origin and Gross National Income at Constant Market Prices (chain linked annually and referenced to year 2022).

Table 8.1 Updates shows the updates to expenditure on Gross National Income at Current Market Prices.

Table 8.3 Updates shows the updates to expenditure on Gross National Income at Constant Market Prices (chain linked annually and referenced to year 2022).