Ireland: economy

What is Ireland's GDP growth rate?

Ireland's GDP grew 10.2% in the second quarter of 2026 compared with the first quarter, according to the Central Statistics Office (CSO), released on 4 September 2026. Multinational-dominated sectors grew 11.2%, while domestic sectors grew 0.7%. The globalised industry sector expanded 22.1%.

Ireland's GDP is strongly affected by the activities of large multinational companies, such as the movement of intellectual property and contract manufacturing, so it can swing sharply from quarter to quarter. For this reason, the CSO and the government also use modified domestic demand and modified GNI (GNI*) as measures of the domestic economy.

Official sources: CSO: Quarterly National Accounts Q2 2026

What is modified domestic demand in Ireland?

Modified domestic demand (MDD) in Ireland fell 0.8% in the second quarter of 2026, driven by lower investment, according to the CSO. Over the first six months of 2026 it grew 3.1%. Personal spending rose 1.0% in the quarter and 2.8% over the first half of the year.

MDD covers personal, government and investment spending but excludes items dominated by multinationals, such as investment in intellectual property and aircraft for leasing. It is used as a measure of underlying activity in the domestic economy because headline GDP is distorted by multinational activity. The Department of Finance forecasts it alongside GDP in each Budget.

Official sources: CSO: Quarterly National Accounts Q2 2026

Does Ireland have a current account surplus?

Ireland's balance of payments current account recorded a surplus of €19.7 billion in the second quarter of 2026, according to the CSO. Total exports of goods and services rose 17.1% in the quarter, or €35.0 billion, while imports rose 4.0%.

The current account covers trade in goods and services, income flows and transfers with the rest of the world. Ireland's large surpluses mainly reflect exports by multinational companies, while profits paid to their foreign owners appear as outflows. Quarterly figures are volatile and are often revised.

Official sources: CSO: Quarterly National Accounts Q2 2026

What is Ireland's biggest export?

Chemicals and related products, which include pharmaceuticals, were Ireland's largest goods export in July 2026, at €9.2 billion of total goods exports of €18.9 billion, according to the CSO, released on 16 September 2026. Machinery and transport equipment, which includes computer equipment, was next at €4.7 billion.

Goods imports were €13.6 billion in the month. The figures cover goods only; Ireland also exports large amounts of services, such as computer and financial services, which appear in the national accounts. Monthly goods trade can move sharply with pharmaceutical shipments.

Official sources: CSO: Goods Exports and Imports July 2026

How much does Ireland export to the United States?

Ireland exported €5.0 billion of goods to the United States in July 2026, according to the CSO. Exports to the rest of Europe were €7.2 billion, to the UK €2.1 billion and to the rest of the world €4.6 billion, out of total goods exports of €18.9 billion. Goods imports from the US were €2.0 billion.

US exports are dominated by pharmaceuticals and chemicals produced by multinational companies, so they move with the timing of large shipments and with changes in US trade policy. Comparisons over several months give a steadier picture than a single month.

Official sources: CSO: Goods Exports and Imports July 2026

Is Ireland's economy growing?

The World Bank puts real GDP growth in Ireland at 12.3% in 2025. Since 2005 it has ranged from -5.1% (2009) to 24.6% (2015). It is 1st highest of 49 in Europe & Central Asia, where the median is 2.1%. World rank, highest first: 3rd of 180.

What is GDP per capita in Ireland?

The latest figure from the World Bank, for 2025, is $131,592. No year since 2005 has been higher. Across Europe & Central Asia the middle value was $28,420, and Ireland placed 2nd highest of 49. World rank, highest first: 2nd of 180.

What is Ireland's GDP per capita at PPP?

In 2025, GDP per person at purchasing power parity in Ireland was $155,089 in international dollars, according to the World Bank. No year since 2005 has been higher. It is 2nd highest of 49 in Europe & Central Asia, where the median is $50,946 in international dollars. Worldwide: 3rd of 179.

What share of Ireland's economy is exports?

The latest figure from the World Bank, for 2025, is 140.1% of GDP. Its high point since 2005 was 2024, at 144.0% of GDP; its low point was 2006, at 79.0% of GDP. Across Europe & Central Asia the middle value was 47.7% of GDP, and Ireland placed 2nd highest of 46. World rank, highest first: 3rd of 133.

Does Ireland have a current account surplus or deficit?

In 2025, the current account balance in Ireland was 6.3% of GDP, according to the IMF. Since 2005 it has ranged from -20.6% of GDP (2019) to 17.1% of GDP (2024). It is 7th highest of 47 in Europe & Central Asia, where the median is -0.3% of GDP. Worldwide: 17th of 132.

How much foreign investment does Ireland receive?

According to the IMF, net inflows of foreign direct investment in Ireland was 10.4% of GDP in 2025. Since 2005 it has ranged from -24.7% of GDP (2023) to 74.8% of GDP (2015). It is 2nd highest of 49 in Europe & Central Asia, where the median is 1.9% of GDP. Worldwide: 16th of 179.