Table 3.1 Expenditure Components of GDP1, 20202 | ||
Amount €m | Annual % change | |
Personal Consumption of Goods and Services | 99,127 | -9.0 |
Net Expenditure by Central and Local Government on Current Goods and Services | 37,640 | 9.8 |
Gross Domestic Fixed Capital Formation | 109,702 | -32.3 |
Net Exports | 108,963 | |
Exports of Goods and Services | 469,548 | 6.2 |
Less Imports of Goods and Services | -360,585 | -11.3 |
Gross Domestic Product | 356,981 | 3.4 |
1Series not additive, Value of Physical Changes in Stocks not shown on table (see Table 3.4 for full detail). | ||
2GDP at Constant Market Prices, chain linked annually and referenced to year 2018. |
On the expenditure side of the accounts (Table 3.4), Capital Investment, driven by Intellectual Property Products (IPP), declined by €49.0 billion during 2020 while Personal Consumption Expenditure, which accounts for just over 40% of Domestic Demand, fell 9.0% compared with the previous year. Government expenditure increased by 9.8% over the same period.
Personal Consumption Expenditure | Government Expenditure | Gross Fixed Capital Formation | Value of Physical Changes in Stocks | Net Exports | GDP | |
2014 | 92.6882539541 | 27.4682367493 | 43.6519178959 | 2.8491873325 | 41.6892447108 | 216.2698105053 |
2015 | 95.6377103856 | 28.111475249 | 65.5485977302 | 4.1671075089 | 70.6697566684 | 270.7187676437 |
2016 | 100.3841709276 | 29.357606245 | 98.8831440095 | 4.7347459782 | 37.4843322877 | 276.1162508996 |
2017 | 102.7748574609 | 30.4657494643 | 98.8586170427 | 4.1642304901 | 64.597042055 | 301.3241183987 |
2018 | 105.6264106331 | 32.2267049795 | 92.7487769374 | 1.3517236338 | 92.787451421 | 326.9860723397 |
2019 | 108.9859717428 | 34.2652972366 | 162.1344868857 | 1.7362876728 | 35.5403085022 | 345.1835054109 |
2020 | 99.1271321581 | 37.6398079902 | 109.7022554381 | 5.2130128983 | 108.9630732383 | 356.9812607224 |
Table 3.2 Expenditure Components of GDP1, Q4 20202 | ||
Amount €m | Quarterly % change | |
Personal Consumption of Goods and Services | 25,281 | -2.3 |
Net Expenditure by Central and Local Government on Current Goods and Services | 9,696 | 0.1 |
Gross Domestic Fixed Capital Formation | 23,681 | 28.7 |
Net Exports | 29,547 | |
Exports of Goods and Services | 124,212 | 4.2 |
Less Imports of Goods and Services | -94,666 | 24.4 |
Gross Domestic Product | 89,871 | -5.1 |
1Series not additive, Value of Physical Changes in Stocks not shown on table (see Table 3.6 for full detail). | ||
2Constant Market Prices, chain linked annually and referenced to year 2018 and seasonally adjusted. |
On the expenditure side of the accounts (Table 3.6), Capital Investment, exhibited an increase of €6.4 billion in Q4 compared with the previous quarter and accounted for 42.2% of domestic demand in Q4 2020.
Personal Consumption Expenditure declined by 2.3% in Q4 compared to Q3, while Government expenditure increased by 0.1% over the same period. As a result, there was an overall decline in the real GDP of 5.1% in Q4 compared to Q3.
Personal Consumption Expenditure | Government Expenditure | Gross Fixed Capital Formation | Value of Physical Changes in Stocks | Net Exports | GDP | |
2018 Q1 | 26.098801097 | 7.8451040548 | 16.314388859 | 1.7858467541 | 27.815614691 | 79.714222153 |
2018 Q2 | 26.399091894 | 8.0642638157 | 16.636030697 | -0.362671083 | 30.275301463 | 82.134191217 |
2018 Q3 | 26.5457525 | 8.1886607788 | 19.202855496 | 0.2681396303 | 26.81708513 | 82.215113748 |
2018 Q4 | 26.564587158 | 8.1340518375 | 40.391631577 | -0.2690002722 | 10.08906812 | 83.730135056 |
2019 Q1 | 27.045428645 | 8.5039705072 | 18.761657683 | 0.9072641514 | 28.189760157 | 83.144259484 |
2019 Q2 | 27.286739564 | 8.539692143 | 59.976567243 | -1.096186789 | -8.38902351 | 87.073075048 |
2019 Q3 | 27.313984354 | 8.6031421844 | 21.123189582 | 1.2520598537 | 27.371397451 | 86.925924998 |
2019 Q4 | 27.327206682 | 8.6255929285 | 62.01536328 | 0.7003263976 | -7.17972391 | 90.067839648 |
2020 Q1 | 26.462626225 | 8.6663476757 | 50.042880322 | 0.9402398971 | -2.07692728999999 | 86.548941729 |
2020 Q2 | 21.41104803 | 9.5950465989 | 17.373297765 | 1.6553982157 | 36.7011458 | 84.698319422 |
2020 Q3 | 25.88885497 | 9.6891560772 | 18.394377004 | 0.7506602243 | 43.113804466 | 94.687038611 |
2020 Q4 | 25.281390996 | 9.6957745617 | 23.681408036 | 1.8690191172 | 29.546536025 | 89.870863075 |
Building & Construction | Machinery & Equipment | Intangibles | Machinery & Equipment + Intangibles | Gross Domestic Fixed Capital Formation | |
2018 Q1 | 5.8256084145 | 5.7241720492 | 4.7646083955 | 0 | 16.314388859 |
2018 Q2 | 6.1034316284 | 5.0543055794 | 5.4782934889 | 0 | 16.636030697 |
2018 Q3 | 6.2073629369 | 7.1386829576 | 5.8568096018 | 0 | 19.202855496 |
2018 Q4 | 6.1472545086 | 7.7375671414 | 26.506809927 | 0 | 40.391631577 |
2019 Q1 | 6.3170318228 | 6.5098714465 | 5.9347544137 | 0 | 18.761657683 |
2019 Q2 | 6.3343505752 | 5.9446454737 | 47.697571194 | 0 | 59.976567243 |
2019 Q3 | 6.8558236595 | 6.6365499256 | 7.6308159965 | 0 | 21.123189582 |
2019 Q4 | 6.7013205508 | 6.216296146 | 49.097746583 | 0 | 62.01536328 |
2020 Q1 | 6.6951056948 | 0 | 0 | 43.3477746272 | 50.042880322 |
2020 Q2 | 4.2839309693 | 3.3756461864 | 9.7137206091 | 0 | 17.373297765 |
2020 Q3 | 5.9258938314 | 5.3619050455 | 7.1065781275 | 0 | 18.394377004 |
2020 Q4 | 6.8481666234 | 0 | 0 | 16.8332414126 | 23.681408036 |
Comparisons with Q4 2019
On the expenditure side of the accounts (Table 3.4) Capital Investment contracted by €37.1 billion driven by Intellectual Property Products (IPP). Personal Consumption Expenditure exhibited a year-on-year decline of 7.6% reflecting ongoing COVID-19 related restrictions to economic activity while Government expenditure increased by 12.1% over the same period.
FOR REVISIONS TABLES, PLEASE CLICK ON THE FOLLOWING LINK: Quarterly National Accounts Q4 2020 Revisions Tables (XLS 61KB)
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