This publication is categorised as a CSO Frontier Series Output. Particular care must be taken when interpreting the statistics in this release as it may use new methods which are under development and/or data sources which may be incomplete, for example new administrative data sources.
Early estimates indicate that Gross Domestic Product (GDP) increased by an estimated 3.3% in Quarter 2 (Q2) 2023, when compared with Q1 2023.
The result was driven mainly by increases in the multinational dominated sectors in Q2 2023.
Using the early estimate for Q2 2023, GDP is estimated to have increased by 2.7% when compared with the same quarter in 2022.
| Qtr on Qtr | |
| Q1 2020 | 3.13151618526168 |
| Q2 2020 | -5.74527952607431 |
| Q3 2020 | 12.0003034492199 |
| Q4 2020 | -4.17135239774462 |
| Q1 2021 | 10.5294557763816 |
| Q2 2021 | 2.64218064807731 |
| Q3 2021 | 2.57549133349395 |
| Q4 2021 | -1.75315414228487 |
| Q1 2022 | 5.63235162119149 |
| Q2 2022 | 2.50046017311194 |
| Q3 2022 | 2.42947526594266 |
| Q4 2022 | -0.0493263038488845 |
| Q1 2023 | -2.79065028095714 |
| Q2 2023 | 3.26302604857501 |
| Year on Year | |
| Q1 2020 | 8.34480477826298 |
| Q2 2020 | 1.97893730279866 |
| Q3 2020 | 11.349108883504 |
| Q4 2020 | 4.6438009805559 |
| Q1 2021 | 12.7635241350686 |
| Q2 2021 | 21.7238568791761 |
| Q3 2021 | 12.3819321085529 |
| Q4 2021 | 14.2943996635208 |
| Q1 2022 | 8.78424678474925 |
| Q2 2022 | 9.29517122113872 |
| Q3 2022 | 9.3668932265518 |
| Q4 2022 | 10.2380172143229 |
| Q1 2023 | 2.19520378672515 |
| Q2 2023 | 2.6913175323 |
Preliminary GDP estimate for the EU and euro area can be accessed using the following link Eurostat Preliminary GDP Estimates for Q2 2023.
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Statistician's Comment
The Central Statistics Office (CSO) has today (28 July 2023) published its latest Preliminary GDP Estimate for Quarter 2 (Q2) 2023. This is a Frontier Series publication and care must be taken when interpreting these results as methodologies may change and data sources may be incomplete.
These preliminary results are subject to revisions in the Quarterly National Accounts (QNA), which will be published with results for Q2 2023 in early September when additional data sources are available to the CSO, and will be further updated following the release of the Annual National Accounts for 2023.
Commenting on the release, Jennifer Grimes, Statistician in the National Accounts Data Collection and Quality Division, said: “In today’s release, Gross Domestic Product (GDP) is estimated to have risen by 3.3% in Q2 2023 in volume terms when compared with Q1 2023, driven by increases in the multinational dominated sectors (the Industry and Information & Communication sectors) in Q2 2023. GDP is estimated to have increased by 2.7% when compared with the same quarter of 2022.
These preliminary estimates are based on forecasting and data sources that are limited in scope compared with those used for compiling GDP in the CSO’s Quarterly National Accounts (QNA). The data sources include information from the CSO Large Cases Unit, Retail Sales, Administrative Payroll Data and other indicators of activity (see Background Notes for more details on these estimates and the methodology used to calculate the preliminary results).”