Output, which measures the value of all goods and services produced, was €1.005 trillion in 2023, which was unchanged from 2022.
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 €521 billion in 2023, up 2.7% from €507 billion in 2022.
Output (€1.005 trillion) minus Intermediate Consumption (€521 billion) resulted in Gross Value Added (GVA) at basic prices of €484 billion in 2023, a reduction of 2.7% from the €498 billion of GVA in 2022.
In 2023, total Output in the economy was almost equally split between Intermediate Consumption (52%) and GVA (48%). 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 (15 November 2024) published Output and Value Added by Activity 2023.
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 release 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.
A new chapter combines published economic data from the CSO National Accounts division with greenhouse gas (GHG) emissions data from the CSO Environment division. The chapter illustrates the effects on greenhouse gas emission intensities due to changes in output and activity in the Irish economy.
The Results
The value of Intermediate Consumption in 2023 was €521 billion. This figure, a measure of the value of all goods and services used up in the production process, rose by 2.7% from the €507 billion of Intermediate Consumption in 2022. This resulted in GVA decreasing by 2.7% to €484 billion.
In 2023, total Output in the economy was almost equally split between Intermediate Consumption (52%) and GVA (48%). However, there were large variations across different sectors of the economy. The constituents of Output at basic prices in 2023 were: