Output, which measures the value of all goods and services produced, was €940 billion in 2022.
This was an increase of 15.3% from the €815 billion of Output in 2021, or by 85% on 2015.
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 €458 billion in 2022.
This was a rise of 12.6% from the €407 billion of Intermediate Consumption in 2021.
Output (€940 billion) minus Intermediate Consumption (€458 billion) resulted in Gross Value Added (GVA) at basic prices of €482 billion in 2022.
This grew by 18% from the €408 billion of GVA in 2021.
In 2022, total Output in the economy was almost equally split between Intermediate Consumption (49%) and GVA (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 (17 November 2023) published Output and Value Added by Activity 2022.
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 Results
The value of Output in 2022 was €940 billion. Output, which measures the value of all goods and services produced, increased by 15.3% from the €815 billion of Output in 2021, and by 85% on the €509 billion of Output in 2015.
The value of Intermediate Consumption in 2022 was €458 billion. Intermediate Consumption, which measures the value of all goods and services used up in the production process, rose by 12.6% from the €407 billion of Intermediate Consumption in 2021. This resulted in GVA increasing by 18% to €482 billion.
In 2022, total Output in the economy was almost equally split between Intermediate Consumption (49%) and GVA (51%). However, there were large variations across different sectors of the economy. The constituents of Output at basic prices in 2022 were: