Output, which measures the value of all goods and services produced, was €791 billion in 2021.
This was an increase of 11.5% from the €710 billion of Output in 2020.
The Intermediate Consumption, which measures the value of all goods and services used up in the production process (inputs), required to produce this Output was €390 billion in 2021.
This was an increase of 8.9% from the €358 billion of Intermediate Consumption in 2020.
Output (€791 billion) minus Intermediate Consumption (€390 billion) resulted in Gross Value Added (GVA) at basic prices of €401 billion in 2021.
This was an increase of 14% from the €352 billion of GVA in 2020.
In 2021, total Output in the economy was almost equally split between Intermediate Consumption (49%) and Gross Value Added (51%). However there were large variations across different sectors of the economy.
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Statistician's Comment
The Central Statistics Office (CSO) has today (18 November 2022) published Output and Value Added by Activity 2021. Commenting on the publication, Mark Manto, Statistician in the National Accounts Integration Division, said:
"Output and Value-Added by Activity tables provide a powerful tool to analyse the structure of the Irish economy and the sources of economic growth that lie behind the National Accounts' main aggregates.
This publication uses the Output method, one of three methods used to estimate Gross Domestic Product (GDP). The Output Method (also known as the Production Approach) measures Gross Value Added (GVA) as the value of Output (what is produced) less the value of goods and services used in producing these outputs (the inputs or intermediate consumption). To put it more simply, outputs minus inputs equals value-added.
The value of Output in 2021 was €791 billion. Output, which measures the value of all goods and services produced, increased by 11.5% from the €710 billion of Output in 2020, and by more than 50% on the €508 billion of Output in 2015.
The value of Intermediate Consumption in 2021 was €390 billion. Intermediate Consumption, which measures the value of all goods and services used up in the production process, increased by 8.9% from the €358 billion of Intermediate Consumption in 2020. This resulted in GVA increasing by 14% to €401 billion.
In 2021, total Output in the economy was almost equally split between Intermediate Consumption (49%) and Gross Value Added (51%). However, there were large variations across different sectors of the economy. The constituents of Output at basic prices in 2021 were: