FX.co ★ Irish GDP Surges in Q1 2025

In the first quarter of 2025, Ireland's economy experienced a growth of 7.4% compared to the previous quarter. While this figure did not meet the second estimate of a 9.7% increase, it signifies a notable acceleration from the revised 4.5% growth in the prior quarter. Despite the adjustment, this quarter marked the most rapid economic expansion since the first quarter of 2021. The growth was largely propelled by a significant rise in exports as multinational companies expedited shipments in anticipation of new tariffs by US President Donald Trump. The expansion was primarily concentrated in sectors dominated by multinational corporations, with output from these foreign-based entities increasing by 13.6%. Additionally, the globalized industry sector saw a robust increase of 16.5%, whereas the information and communication sector experienced a modest growth of 0.5%. In contrast, the domestic economy exhibited a more measured growth of 2.0%, bolstered by a substantial 49.1% increase in capital investment. Personal consumption increased marginally by 0.3%, and government expenditure declined by 1.3%. Furthermore, Gross National Product (GNP) saw a decline of 7.2%, more significant than the previous estimate of a 2.1% decrease.