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GDP by Sector

GDP by Sector

Increase of 0.9% in GDP (seasonally adjusted) in Quarter 1

Online ISSN: 2009-5775
CSO statistical publication, , 11am
Table 2.1 Gross Domestic Product1 by Nace Rev. 2 A10 Sector of Origin, Q1 20242
 Amount €mQuarterly % change
Industry (excl. Construction)35,515-6.5
Information and Communication22,8393.4
Professional, Admin and Support Services11,2606.7
Public Admin, Education and Health11,078-0.3
Distribution, Transport, Hotels and Restaurants10,2200.9
Real Estate Activities6,4180.1
Financial and Insurance Activities4,238-3.7
Construction2,169-4.9
Agriculture, Forestry and Fishing1,257-2.1
Arts, Entertainment and Other Services1,1144.2
Gross Domestic Product111,1090.9
1Series is not additive, Taxes less Subsidies on Products not shown in table (see Table 2.5 for full detail).
2Constant Market Prices, chain linked annually and referenced to year 2021, seasonally adjusted.

The MNE dominated sectors of the economy decreased by 2.0% overall in the first quarter of 2024. Value added for the MNE dominated Industry (excluding Construction) sector recorded a significant decrease in Q1 compared with the previous quarter, falling by 6.5% which outweighed the growth in the Information & Communication sector of 3.4% in the quarter. The domestically facing sectors of the economy posted a mixed set of results in Q1. Professional & Administrative services sector expanded by 6.7% in volume terms quarter-on-quarter while the Arts & Entertainment sector increased by 4.2% over the period compared with Q4 2023. The Distribution, Transport, Hotels & Restaurants sector grew by 0.9% in the quarter while the Real Estate sector recorded a modest increase of 0.1%. The domestic facing Construction sector shrank by 4.9% in Q1 while Finance & Insurance contracted by 3.7% over the same period. The domestically dominated Agriculture, Forestry & Fishing sector posted a 2.1% fall in Q1 2024 with the Public Administration, Education & Health sector recording a decline of 0.3% quarter-on-quarter. The domestic/other sectors of the economy grew by 1.7% overall in the first quarter of 2024. (See Tables 2.5 and 6.3).

Column1Q1 2024Q4 2023
Industry (excl. Construction)35.51527218337.976156497
Information and Communication22.83855747122.089374917
Professional, Admin and Support Services11.26005142310.553743785
Public Admin, Education and Health11.07808701511.109575877
Distribution, Transport, Hotels and Restaurants10.2196856610.131750228
Real Estate Activities6.4180266716.410120678
Financial and Insurance Activities4.2375054134.401284412
Construction2.1686794282.279324811
Agriculture Forestry and Fishing1.2570126731.284579215
Arts, Entertainment and Other Services1.1136983851.068339571

Get the data: NAQ02

Column1Q1 2024
Industry (excl. Construction)-6.48007734588518
Construction-4.85430520766617
Financial & Insurance Activities-3.72116372560384
Agriculture, Forestry & Fishing-2.14595890063503
Public Admin, Education & Health-0.283438921058998
Real Estate Activities0.123336102347227
Distribution, Transport, Hotels & Restaurants0.867919461308686
Information & Communication3.39159689586068
Arts, Entertainment & Other Services4.24573003109325
Professional, Admin & Support Services6.69248422539757
Agriculture, Forestry & FishingIndustry (excl. Construction)ConstructionDistribution, Transport, Hotels & RestaurantsInformation & CommunicationFinancial & Insurance ActivitiesReal Estate ActivitiesProfessional, Admin & Support ServicesPublic Admin, Education & HealthArts, Entertainment & Other Services
Q1 2021100100100100100100100100100100
Q2 202196.203437118871197.8157089453102115.678015360955108.735383401987104.65768654588598.9558628990865101.03070155022997.8975518415973101.056305332538104.068909363887
Q3 2021112.700417945051106.207877206938118.261977664933114.603294745031103.95111513575998.8957861046331101.34827655476897.8699809468327102.450466404462110.171684158041
Q4 2021107.95236652235497.2703728278096132.097995750018119.472439403924117.31576455128397.9088080982923104.07003482516297.7145273715922103.809819867627133.033606019832
Q1 2022109.004355490415113.180152510214118.195789473888121.220884924852109.41108035039595.193961458455104.39260829254199.4196941144944106.391370771713108.501684405497
Q2 2022106.030713608917110.193179864467124.766341129294131.175121426838114.60073836963490.9498180201463105.85786700559799.5759148712407108.140120412697121.123386126859
Q3 2022121.028990612244122.908267225309123.51957997013131.828482209282117.20741324948889.534572180865106.55745839374198.559474937252108.337334580604122.714088948176
Q4 2022106.651349401363130.204246818445119.155812969924133.443388045592115.31008689022592.1620556368582106.86837351671100.222382314165109.399938193643143.89925843845
Q1 2023128.651506062078109.826276479771122.347257429836134.140361447726120.616157400474100.174169884395107.32985454128196.846096450054110.56405483334109.791415071907
Q2 2023133.325037918488111.301153959322117.839577926524136.622767430423122.802662266931105.274846276027107.321717320013102.939227433279111.693585500255109.842293276445
Q3 2023123.817032213434106.111429214243116.720822160055134.520627023948125.36501557553595.8177714797286108.491224129433102.211792858178113.722827177067109.429630660982
Q4 2023123.97465493951796.784539044629113.792840629799135.6126229522124.33370610134294.7518760090759108.15479550057198.3903105901571114.722160022516114.802750797689
Q1 2024121.31420979731190.5128260556786108.268988841155136.789631298793128.55060421798491.2260035696971108.288189409844104.975066605723114.396992769932119.676965664828

Comparisons with Q1 2023

Estimates for the first quarter of 2024 indicate that there was a contraction of 6.5% in GDP in real terms in Q1 2024 compared with Q1 2023. Gross Value Added (GVA) for the MNE-dominated sectors fell by 11.9% in Q1 2024 compared with Q1 2023. The Information & Communication sector expanded by 6.4% in Q1 compared with the equivalent quarter of 2023 while the Industry (excluding Construction) sector contracted by 17.6% year-on-year over the same period.

Of the domestic based economic sectors, the Arts & Entertainment sector posted an increase, rising by 10.0% year-on-year, while Professional & Administrative Services activity expanded by 8.4% compared with the same quarter of 2023. Of the other Service sectors, Public Administration, Education & Health rose by 3.3%, Distribution, Transport, Hotels & Restaurants increased by 2.0% with Real Estate activity up marginally by 0.8%. Construction activity contracted by 13.4% in Q1 2024 compared with Q1 2023 while Financial & Insurance activities declined by 8.2% year-on-year. The Agriculture, Forestry & Fishing sector fell by 6.2% over the same period. Overall, the domestic based sectors of the economy grew by 2.9% year-on-year in the first quarter of 2024 compared with Q1 2023, partially offsetting the decline in the MNE-dominated sectors in the quarter. (See Tables 2.3 and 6.2).

Table 2.2 Gross Domestic Product by Nace Rev. 2 A10 Sector1 of Origin and Gross National Product at Current Market Price

Table 2.3 Gross Domestic Product by Nace Rev. 2 A10 Sector1 of Origin and Gross National Product at Constant Market Prices (Chain linked annually and referenced to year 2021)2

Table 2.4 Gross Domestic Product by Nace Rev. 2 A10 Sector1 of Origin and Gross National Product at Current Market Prices - Seasonally Adjusted

Table 2.5 Gross Domestic Product by Nace Rev. 2 A10 Sector1 of Origin and Gross National Product at Constant Market Prices (Chain linked annually and referenced to year 2021)2 - Seasonally Adjusted

FOR UPDATES TABLES, PLEASE CLICK ON THE FOLLOWING LINK: Quarterly National Accounts Q1 2024 Updates Tables (XLS 61KB)