Output at basic prices covers the value of all goods produced for sale, including unsold goods, and all receipts for services rendered. Output furthermore covers the market equivalent of goods and services produced for own use, such as own account capital formation, services of owner-occupied dwellings and agricultural products produced by farmers for own consumption.
Gross Value Added (GVA) at basic prices is conceptually the same aggregate as Gross Domestic Product (GDP). They both measure the added value generated in an economy by the production of goods and services. The difference between the two concepts is that GDP is measured after including product taxes (for example excise duties or non-deductible VAT) and deducting product subsidies while GVA is measured prior to adding product taxes but includes product subsidies.
Greenhouse Gas (GHG) air emissions are largely composed of carbon dioxide (CO2), nitrous oxide (N2O) and methane (CH4). Carbon dioxide emissions are the result of burning fossil fuels such as coal, turf and petroleum for heat, power, and transport. Industrial processes such as cement production also emit CO2. Nitrous oxide emissions arise from nitrogen fertilisers used in agriculture and a small number of industrial processes. Methane emissions are caused by the digestive systems of ruminant animals, waste water treatment plants and landfill sites. Residence principle emissions excluding households are used in this research paper.
The following set of three treemap charts illustrate the 2021 proportional composition of Output, Gross Value Added and Greenhouse Gas Air Emissions by each A21 sector. The same colours are used for each A21 sector in each treemap. Clicking on a treemap enlarges the image and offers options to look at the three treemaps as a slideshow.
When examined by A21 sector, Manufacturing (C) and Information & Communication (J) were the two largest sectors by Output in both 2012 and 2021. Together these two sectors dominated and in 2021 comprised almost 59% of all Output in the economy. Construction (F) and Agriculture, Forestry and Fishing (A) were the eighth and thirteenth largest sectors by Output in 2021. See Figure 1.1.
When GVA is examined by A21 sector, Manufacturing (C) and Information & Communication (J) were the two largest sectors in 2021. Together these two sectors dominated and comprised almost 55% of all GVA in the economy. The Wholesale, Retail and Motor trade (G) was the third biggest sector in 2021. In 2021, Construction (F) was the eleventh largest sector while Agriculture, Forestry and Fishing (A) was the thirteenth largest sector. See Figure 1.2.
When GHG air emissions are examined by A21 sector, Agriculture, Forestry and Fishing (A) was the largest sector in 2021, comprising almost 41% of total sectoral emissions, excluding households. Transportation and Storage (H) was the second largest sector in 2021, contributing over 18% of emissions. The Manufacturing (C) sector contributed 14% of emissions. See Figure 1.3.
Figure 1.1 Proportional composition of Output by A21 sector, 2021
Figure 1.2 Proportional composition of GVA by A21 sector, 2021
Figure 1.3 Proportional composition of GHG Air Emissions by A21 sector, 2021
Total Output across the Irish economy, which measures the value of all goods and services produced, more than doubled in current prices from €372 billion in 2012 to almost €791 billion in 2021, an increase of 113%. There was a much publicised ‘level-shift’ in the Irish National Accounts in 2015. Even with this, Output in 2021 was 56% higher than in 2015. See Table 1.1.
Total Gross Value Added (GVA) across the Irish economy, a measure of the added value generated in the economy by the production of these goods and services, showed an even bigger relative increase than Output, increasing in current prices by 153% from €159 billion in 2012 to over €401 billion in 2021. Even allowing for the much publicised ‘level-shift’ in the Irish National Accounts in 2015, GVA in 2021 was 64% higher than in 2015.
Modified Gross National Income (GNI*) is a measure of economic activity which excludes several of the globalisation effects which disproportionally impact the measurement of the size of the Irish economy. GNI* was €127 billion in 2012 and showed a substantial increase by 2021, increasing by 84% in current prices to €234 billion. See Table 1.2.
To reduce the effects of price changes on these GVA estimates, they are ‘deflated’ in the National Accounts to constant prices. Table 1.3 below displays GVA and GNI* in constant 2020 prices. GVA in constant 2020 prices increased by 106% from €193 billion in 2012 to €397 billion in 2021. In 2012, Modified Gross National Income (GNI*) was €158 billion in constant 2020 prices and increased by 46% to €231 billion in 2021. See Table 1.3.
Greenhouse gas air emissions by resident units were 54,362 Final CO2 equivalent Kilotonnes in 2021. This was almost identical to the 53,857 Final CO2 equivalent Kilotonnes estimated in 2012, an increase of less than 1%. Users should note that these results describe NACE sectors and exclude households. The term ‘resident units’ is used to describe economic units of a country which have engaged for at least one year in economic activity in that territory. Greenhouse gas emissions fell in 2020 and 2021 largely due to the impact of the COVID-19 pandemic on air transport (NACE 51) in the Transportation and Storage (H) (NACE 49-53) sector. See Table 1.4.
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