Table 3.1 Expenditure Components of GDP1, Q1 20212 | ||
Amount €m | Quarterly % change | |
Personal Consumption of Goods and Services | 23,462 | -5.9 |
Net Expenditure by Central and Local Government on Current Goods and Services | 10,218 | -2.2 |
Gross Domestic Fixed Capital Formation | 19,242 | -22.5 |
Net Exports | 50,641 | |
Exports of Goods and Services | 136,948 | 2.3 |
Less Imports of Goods and Services | -86,308 | -16.4 |
Gross Domestic Product | 101,937 | 8.6 |
1Series not additive, Value of Physical Changes in Stocks not shown on table (see Table 3.5 for full detail). | ||
2Constant Market Prices, chain linked annually and referenced to year 2019 and seasonally adjusted. |
On the expenditure side of the accounts (Table 3.5), Capital Investment, showed a decrease of €6.5 billion in Q1 compared with the previous quarter and accounted for 36.6% of total domestic demand in Q1 2021.
Personal Consumption Expenditure declined by 5.9% in Q1 compared to Q4, while Government expenditure decreased by 2.2% over the same period. Combining this with the growth in net exports, there was an overall increase in real GDP of 8.6% in Q1 compared to Q4.
Personal Consumption Expenditure | Government Expenditure | Gross Fixed Capital Formation | Value of Physical Changes in Stocks | Net Exports | GDP | |
Q1 2019 | 27.829567596 | 8.9137659077 | 18.824009062 | 2.292229881 | 30.03911031 | 86.930140534 |
Q2 2019 | 27.976593042 | 8.9288530011 | 62.354643915 | -0.1759401654 | -9.48076291999999 | 90.21635373 |
Q3 2019 | 27.676314902 | 9.0916257327 | 21.181857779 | 0.9073932363 | 28.575421892 | 89.140871182 |
Q4 2019 | 27.451768069 | 8.954573075 | 88.53714954 | 0.8991434137 | -37.02775647 | 90.020188165 |
Q1 2020 | 26.457362412 | 9.0966064764 | 81.73068878 | 1.4790852518 | -25.62578281 | 92.771329515 |
Q2 2020 | 22.50348937 | 10.142199537 | 21.006873077 | 2.0046458699 | 37.703674358 | 91.464288336 |
Q3 2020 | 25.457367672 | 10.106168449 | 19.711071412 | 0.2586083247 | 45.718689389 | 99.083157596 |
Q4 2020 | 24.941489437 | 10.451467356 | 24.816194313 | 1.1435446903 | 30.54428859 | 93.891394563 |
Q1 2021 | 23.461975953 | 10.217720003 | 19.242144084 | 0.2124087138 | 50.640524493 | 101.93716238 |
Building & Construction | Machinery & Equipment | Intangibles | Machinery & Equipment + Intangibles | Gross Domestic Fixed Capital Formation | |
Q1 2019 | 6.2800780966 | 6.3118550192 | 6.2320759465 | 18.824009062 | |
Q2 2019 | 6.3030231413 | 6.3512331047 | 49.700387669 | 62.354643915 | |
Q3 2019 | 6.6904890085 | 6.3652403094 | 8.1261284607 | 21.181857779 | |
Q4 2019 | 6.3845647545 | 5.9168281313 | 76.235756654 | 88.53714954 | |
Q1 2020 | 6.7957230186 | 74.9349657614 | 81.73068878 | ||
Q2 2020 | 4.5699646121 | 3.8262520205 | 12.610656445 | 21.006873077 | |
Q3 2020 | 6.2069547161 | 5.0750490283 | 8.4290676676 | 19.711071412 | |
Q4 2020 | 6.6692193337 | 18.1469749793 | 24.816194313 | ||
Q1 2021 | 5.5316318381 | 5.8642918026 | 7.8462204431 | 19.242144084 |
Comparisons with Q1 2020
On the expenditure side of the accounts (Table 3.3) Capital Investment contracted by €63.6 billion driven by Intellectual Property Products (IPP). Personal Consumption Expenditure exhibited a year-on-year decline of 11.8% reflecting ongoing COVID-19 related restrictions to economic activity while Government expenditure increased by 12.3% over the same period.
FOR UPDATES TABLES, PLEASE CLICK ON THE FOLLOWING LINK: Quarterly National Accounts Q1 2021 Updates Tables (XLS 67KB)
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