| Table 6.1 Gross Value Added for sectors dominated by Foreign-owned MNEs and Other Sectors, Q1 20231 | ||
| Amount €m | Quarterly % change | |
| Foreign-owned MNE dominated | 59,510 | -9.0 |
| Other | 53,140 | 1.3 |
| Total GVA (MNE dominated + Other) | 112,650 | -4.5 |
| 1Constant Market Prices, chain linked annually and referenced to year 2021, seasonally adjusted. | ||
On a seasonally adjusted basis, estimates indicate that Gross Value Added (GVA) in volume terms in the Foreign-owned MNE dominated sector declined by 9.0% for the first quarter of 2023, largely driven by a contraction in the Industry (excluding Construction) sector of 13.2% quarter-on-quarter. GVA for the non-MNE dominated sectors of the economy grew by 1.3% over the same period.
Real GVA for the total economy amounted to almost €113 billion in the Q1 2023 reference period, with GVA for MNE dominated sectors representing approximately 52.8% of Total GVA while GVA for the non-MNE dominated sectors represented approximately 47.2% of the total.
| Foreign-owned MNE-dominated | Other | |
| Q1 2020 | 12.2389603007974 | -0.28054374139076 |
| Q2 2020 | 3.83452307890926 | -15.6207231701672 |
| Q3 2020 | 5.76621135615445 | 10.8430468475525 |
| Q4 2020 | -0.285398472420306 | 1.68899396501494 |
| Q1 2021 | 16.6770683173041 | 0.653317858842284 |
| Q2 2021 | 1.55621152738099 | 1.75024813642881 |
| Q3 2021 | 4.76589317411278 | 1.17556967809302 |
| Q4 2021 | -1.62473007480826 | 2.35113866713632 |
| Q1 2022 | 6.91345282536999 | 1.21735617262579 |
| Q2 2022 | 2.82991976728739 | 1.3010405852089 |
| Q3 2022 | 6.22651766722431 | 0.629080379922842 |
| Q4 2022 | 4.17701297540383 | 0.832331749020976 |
| Q1 2023 | -9.0349256412215 | 1.26423277061583 |
Get the data: NAQ06
The classification of value added for the total economy between (a) the Foreign-owned MNE dominated sector and (b) the Other sector in Tables 6.2 and 6.3 is determined by business accounting turnover. Foreign-owned MNE dominated sectors are defined as those where MNE turnover on average exceeds 85% of the sector total. Economic activity classified to the Non-MNE dominated sector falls below this turnover threshold.
The main sectors dominated by MNEs in Ireland are:
The combination of all remaining non-MNE dominated sectors provides an estimation of the value-added contribution of the domestic-facing side of the economy to the overall economy.
As part of the ANA 2022 and QNA Q1 2023 Final compilation review and updates, a small number of NACE sectors have been reclassified between the MNE and the combined Other sector based on the 85% turnover threshold. (Foreign-owned Multinational Enterprise [MNE] dominated sectors occur where MNE turnover on average exceeds 85% of the sector total).
| The NACE Rev.2 Divisions below have been reclassified from the MNE sector to the combined Other sector: | |
|---|---|
| 18 | Printing and reproduction of recorded media |
| 27 | Manufacture of electrical equipment |
| 59-60 | Motion picture, video and television programme production, sound recording and music publishing activities; programming and broadcasting activities |
| The NACE Rev.2 Division below has been reclassified to the MNE sector: | |
| 19 | Manufacture of coke and refined petroleum products |
These reclassifications have been implemented on a consistent basis through the full extent of the QNA back data time series, i.e. they apply from reference quarter Q1 1995 onwards. Additionally, revisions to the QNA Table 6.2 and 6.3 quarterly time series are consistent with those implemented for ANA 2022 Tables 5.1, 5.2 and 5.3 annual data.
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