An Phríomh-Oifig Staidrimh Central Statistics Office
12 July 2012
Quarterly National Accounts Quarter 1 2012
Seasonally Adjusted growth rates (% change on previous quarter) % 6.0
GDP and GNP seasonally adjusted at constant prices 4.0
Q1 2012 Amount €m
Quarterly % change
GDP
39,520
-1.1
GNP
31,274
-1.3
2.0
0.0
Q1 2012
-2.0
GDP and GNP decline on a seasonally adjusted basis -4.0
-6.0 2011 Q1
2011 Q2
2011 Q3
2011 Q4
2012 Q1
GNP GDP
Agriculture and other services increase
Published by the Central Statistics Office, Ireland. Ardee Road Dublin 6 Ireland
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Tel: +353 1 498 4000 Fax: +353 1 498 4229
Preliminary estimates for the first quarter of 2012 show seasonally adjusted volume declines for both GDP (-1.1%) and GNP (-1.3%) compared with the fourth quarter of 2011. However, compared with the same quarter one year ago there were constant price increases in both measures: GDP (+1.2%) and GNP (+0.2%).
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Both offices may be contacted through any of these telephone numbers.
Agriculture, forestry and fishing (+3.2%) and other services (+0.7%) were the only sectors to record increases on a seasonally adjusted basis between Q4 2011 and Q1 2012. However, the combined decreases in industry (incl. building and construction) (-0.9%), distribution, transport, software and communications (-11.5%) and public administration and defence (-1.0%) more than offset these increases. Personal expenditure and net exports down On the expenditure side of the accounts personal expenditure declined by 2.1 per cent on a seasonally adjusted basis between Q4 2011 and Q1 2012 while net exports decreased by €456m over the same period. Both government expenditure (+2.2%) and capital investment (+11.6%) on the other hand recorded increases on a seasonally adjusted basis.
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Note that the Nace Rev. 2 classification system is now being used in tables 1 and 4. This replaces the national classification used in previous releases. See the notes at the back for further details.
Director General: Pádraig Dalton
The calculation methods for quarterly accounts are similar to those used in the annual National Income and Expenditure. As some of the available sources are of lesser reliability than those used for the annual national accounts, the quarterly estimates are subject to a greater margin of error than the annual figures. These preliminary estimates will therefore be revised when the next detailed annual results are published.
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For more information contact Gordon Cavanagh at 01 498 4307 or Andrew McManus at 01 498 4368.
Comparisons with Q1 2011 On the output side of the accounts the distribution, transport, software and communications sector recorded a volume decrease of 9.7 per cent between Q1 2011 and Q1 2012. Agriculture, forestry and fishing (-0.7%) and public administration and defence (- 2.3%) also fell during the same period. Increases in industry (including building and construction) (+2.2%) and other services (+1.5%) partially offset these combined declines. On the expenditure side personal expenditure fell by 2.2 per cent and government expenditure fell by 3.3 per cent compared with Q1 2011. Capital investment increased by 8 per cent and there was a large increase in net exports (+ €1,989m in exports minus imports) between the first quarter of 2011 and the corresponding quarter of 2012. Factor income outflows were 5.4 per cent higher between Q1 2011 and Q1 2012 resulting in the 1.2 per cent increase in GDP being mitigated to a 0.2 per cent increase in GNP over the same period.
Table 1 Gross Domestic Product by Sector of Origin and Gross National Product at Constant Market Prices (Chain linked annually and referenced to year 2010)* (Note the sectors here are based on Nace rev 2. For further details see the methodology notes at the back) Period
Industry
2007 2008 2009 2010 2011
Agric. forestry and fishing 3,702 3,651 3,437 3,222 3,049
Public admin. and defence 8,306 8,685 8,291 7,831 7,551
Other services (including rent) 63,070 62,057 61,026 59,808 59,252
GDP at constant factor cost 147,842 146,683 141,335 140,538 142,957
Taxes less subsidies 23,031 20,380 16,383 15,949 15,769
GDP at constant market prices 170,389 166,796 157,695 156,487 158,726
Net factor income from rest of world -27,226 -26,092 -28,811 -26,285 -31,742
GNP at constant market prices 142,848 140,316 128,988 130,202 126,983
2007 Q1 Q2 Q3 Q4
1,004 1,304 777 617
11,009 10,580 10,166 10,664
1,240 1,151 1,213 1,223
7,412 7,390 7,108 7,532
1,967 2,073 2,141 2,125
15,520 15,606 15,945 15,999
37,091 37,089 35,860 37,802
6,144 5,616 5,659 5,612
43,081 42,598 41,395 43,316
-7,106 -7,302 -6,031 -6,787
35,925 35,284 35,209 36,431
2008 Q1 Q2 Q3 Q4
984 1,233 842 592
10,680 10,685 9,728 8,742
1,210 1,125 1,150 1,041
7,762 7,610 7,912 7,861
2,068 2,191 2,226 2,200
15,601 15,447 15,590 15,419
37,364 37,308 36,674 35,338
5,636 4,974 4,936 4,834
42,891 42,232 41,558 40,114
-6,421 -6,724 -7,351 -5,597
36,330 35,427 34,232 34,327
2009 Q1 Q2 Q3 Q4
940 1,245 716 537
9,941 9,784 8,273 7,855
900 814 808 753
8,067 7,956 8,259 7,938
2,026 2,070 2,089 2,107
15,352 15,202 15,191 15,282
36,023 36,270 34,900 34,142
4,205 3,922 4,057 4,198
40,221 40,206 38,951 38,317
-7,157 -7,636 -7,690 -6,328
33,069 32,629 31,351 31,938
2010 Q1 Q2 Q3 Q4
856 1,116 713 537
9,803 9,497 8,529 8,697
594 596 631 593
8,255 8,158 8,913 8,407
1,909 1,945 1,982 1,996
14,792 15,006 14,823 15,187
35,212 35,788 35,241 34,297
3,904 3,843 4,095 4,106
39,119 39,637 39,335 38,395
-7,591 -7,423 -6,584 -4,687
31,574 32,248 32,750 33,630
2011 Q1 Q2 Q3 Q4
807 1,080 687 475
9,646 9,749 8,872 8,901
510 501 497 497
8,796 8,634 8,781 8,830
1,822 1,874 1,901 1,953
14,418 15,052 14,918 14,863
34,894 36,936 35,771 35,355
3,877 3,832 3,950 4,110
38,771 40,769 39,721 39,465
-8,009 -8,604 -7,928 -7,202
30,762 32,165 31,794 32,262
2012 Q1
451
7,939
1,780
14,638
35,521
3,735
39,256
-8,437
30,818
Percentage change on corresponding period of previous year 2007 -1.1 -1.3 0.8 16.7 2008 -1.4 -6.1 -6.2 5.8 2009 -5.9 -10.0 -27.6 3.4 2010 -6.3 1.9 -26.3 4.7 2011 -5.4 1.8 -16.9 3.9
801
9,859
4.7 4.6 -4.5 -5.6 -3.6
6.8 -1.6 -1.7 -2.0 -0.9
6.0 -0.8 -3.6 -0.6 1.7
1.7 -11.5 -19.6 -2.6 -1.1
5.4 -2.1 -5.5 -0.8 1.4
4.2 -1.8 -8.1 0.9 -2.5
42,419 39,835 35,852 36,525 37,168
of which Dist. Building transport and software and construction comms. 4,826 29,441 4,526 31,146 3,275 32,219 2,414 33,733 2,005 35,041
€million
2007 Q1 Q2 Q3 Q4
-6.0 -3.4 1.3 10.5
4.2 -8.4 -1.4 1.0
4.3 1.2 -1.8 -0.2
22.0 22.4 10.5 12.8
4.0 5.1 4.9 4.9
9.6 8.2 6.7 3.1
8.7 5.6 3.2 6.5
4.2 2.9 0.3 -0.8
8.1 5.3 2.9 5.6
6.8 2.5 5.1 2.4
2008 Q1 Q2 Q3 Q4
-2.0 -5.5 8.4 -4.0
-3.0 1.0 -4.3 -18.0
-2.4 -2.3 -5.1 -14.9
4.7 3.0 11.3 4.4
5.2 5.7 4.0 3.5
0.5 -1.0 -2.2 -3.6
0.7 0.6 2.3 -6.5
-8.3 -11.4 -12.8 -13.9
-0.4 -0.9 0.4 -7.4
1.1 0.4 -2.8 -5.8
2009 Q1 Q2 Q3 Q4
-4.5 1.0 -15.0 -9.4
-6.9 -8.4 -15.0 -10.1
-25.6 -27.6 -29.7 -27.7
3.9 4.5 4.4 1.0
-2.0 -5.5 -6.2 -4.2
-1.6 -1.6 -2.6 -0.9
-3.6 -2.8 -4.8 -3.4
-25.4 -21.2 -17.8 -13.1
-6.2 -4.8 -6.3 -4.5
-9.0 -7.9 -8.4 -7.0
2010 Q1 Q2 Q3 Q4
-8.9 -10.3 -0.4 -0.0
-1.4 -2.9 3.1 10.7
-34.0 -26.8 -21.9 -21.3
2.3 2.5 7.9 5.9
-5.8 -6.1 -5.1 -5.3
-3.6 -1.3 -2.4 -0.6
-2.3 -1.3 1.0 0.5
-7.2 -2.0 0.9 -2.2
-2.7 -1.4 1.0 0.2
-4.5 -1.2 4.5 5.3
2011 Q1 Q2 Q3 Q4
-5.8 -3.2 -3.6 -11.5
-1.6 2.7 4.0 2.3
-14.1 -15.9 -21.2 -16.2
6.5 5.8 -1.5 5.0
-4.5 -3.6 -4.1 -2.1
-2.5 0.3 0.6 -2.1
-0.9 3.2 1.5 3.1
-0.7 -0.3 -3.5 0.1
-0.9 2.9 1.0 2.8
-2.6 -0.3 -2.9 -4.1
2012 Q1
-0.7
2.2
-11.6
-9.7
-2.3
1.5
1.8
-3.7
1.2
0.2
*Chain linked series not additive
3
Table 2 Expenditure on Gross National Product at Current Market Prices Period
€million GNP at current market prices
Personal consumption of goods and services
Net exp. by central and local government on current goods and services
Gross domestic fixed capital formation
Value of physical changes in stocks
Exports of goods and services
Imports of goods and services
Statistical discrepancy
GDP at current market prices
Net factor income from the rest of the world
2007 2008 2009 2010 2011
92,724 94,153 83,155 82,060 81,308
28,997 30,482 29,213 26,170 25,410
48,377 39,324 25,601 18,745 16,112
1,025 -330 -1,490 -553 227
152,389 150,181 146,369 157,810 166,791
-135,328 -133,877 -120,352 -128,326 -131,875
546 -1,051 -1,221 581 1,020
188,729 178,882 161,275 156,487 158,993
-26,520 -25,317 -28,364 -26,285 -31,977
162,209 153,565 132,911 130,202 127,016
2007 Q1 Q2 Q3 Q4
22,353 22,568 22,828 24,975
7,038 7,104 7,304 7,551
13,994 11,828 11,056 11,499
28 381 -490 1,106
36,879 38,499 37,590 39,421
-32,939 -33,095 -32,978 -36,316
137 137 131 140
47,491 47,423 45,441 48,375
-7,138 -7,179 -5,924 -6,279
40,353 40,244 39,517 42,095
2008 Q1 Q2 Q3 Q4
23,732 22,953 23,041 24,427
7,476 7,555 7,562 7,888
12,137 9,645 9,721 7,821
-390 529 -27 -442
36,630 37,773 37,016 38,762
-33,688 -33,332 -32,456 -34,400
-268 -263 -262 -257
45,629 44,859 44,595 43,799
-6,156 -6,433 -7,150 -5,577
39,472 38,426 37,444 38,222
2009 Q1 Q2 Q3 Q4
20,971 20,319 20,055 21,809
7,671 7,099 7,097 7,346
7,582 6,768 5,918 5,333
-568 14 -430 -505
36,513 37,697 35,785 36,374
-30,821 -30,618 -28,082 -30,832
-311 -310 -303 -297
41,037 40,970 40,041 39,227
-7,108 -7,555 -7,533 -6,168
33,930 33,415 32,507 33,059
2010 Q1 Q2 Q3 Q4
20,183 20,054 20,138 21,684
6,630 6,419 6,363 6,758
5,138 5,446 4,172 3,988
-399 51 226 -431
37,009 40,217 40,491 40,093
-29,638 -32,281 -31,814 -34,594
145 149 147 140
39,068 40,056 39,724 37,638
-7,532 -7,482 -6,614 -4,657
31,537 32,574 33,110 32,981
2011 Q1 Q2 Q3 Q4
20,034 19,877 19,587 21,810
6,369 6,361 6,353 6,327
4,704 4,469 3,435 3,505
-142 480 390 -501
40,088 42,375 41,538 42,790
-33,204 -32,801 -31,553 -34,316
244 263 257 256
38,093 41,024 40,006 39,870
-8,099 -8,592 -7,938 -7,347
29,993 32,432 32,068 32,523
-266
43,054
-34,678
255
39,748
-8,670
31,078
8.3 -1.4 -2.5 7.8 5.7
9.5 -1.1 -10.1 6.6 2.8
6.2 -5.2 -9.8 -3.0 1.6
5.0 -5.3 -13.4 -2.0 -2.4
2012 Q1 19,950 6,423 5,009 Percentage change on corresponding period of previous year 2007 9.6 10.9 0.2 2008 1.5 5.1 -18.7 2009 -11.7 -4.2 -34.9 2010 -1.3 -10.4 -26.8 2011 -0.9 -2.9 -14.0 2007 Q1 Q2 Q3 Q4
9.4 9.6 10.3 9.0
13.2 11.7 10.4 8.5
14.2 5.4 -9.7 -8.6
9.1 8.6 6.7 8.8
10.7 7.1 11.3 9.1
9.1 8.0 1.8 6.0
7.4 5.5 3.8 3.5
2008 Q1 Q2 Q3 Q4
6.2 1.7 0.9 -2.2
6.2 6.3 3.5 4.5
-13.3 -18.5 -12.1 -32.0
-0.7 -1.9 -1.5 -1.7
2.3 0.7 -1.6 -5.3
-3.9 -5.4 -1.9 -9.5
-2.2 -4.5 -5.2 -9.2
2009 Q1 Q2 Q3 Q4
-11.6 -11.5 -13.0 -10.7
2.6 -6.0 -6.2 -6.9
-37.5 -29.8 -39.1 -31.8
-0.3 -0.2 -3.3 -6.2
-8.5 -8.1 -13.5 -10.4
-10.1 -8.7 -10.2 -10.4
-14.0 -13.0 -13.2 -13.5
2010 Q1 Q2 Q3 Q4
-3.8 -1.3 0.4 -0.6
-13.6 -9.6 -10.3 -8.0
-32.2 -19.5 -29.5 -25.2
1.4 6.7 13.1 10.2
-3.8 5.4 13.3 12.2
-4.8 -2.2 -0.8 -4.1
-7.1 -2.5 1.9 -0.2
2011 Q1 Q2 Q3 Q4
-0.7 -0.9 -2.7 0.6
-3.9 -0.9 -0.2 -6.4
-8.5 -18.0 -17.7 -12.1
8.3 5.4 2.6 6.7
12.0 1.6 -0.8 -0.8
-2.5 2.4 0.7 5.9
-4.9 -0.4 -3.1 -1.4
-0.4
0.8
6.5
7.4
4.4
4.3
3.6
2012 Q1
4
Table 3 Expenditure on Gross National Product at Constant Market Prices (Chain linked annually and referenced to year 2010)* Period
Net exp. by central and local government on
Gross domestic fixed
Value of physical changes
Exports of goods and
Imports of goods and
current goods and services 29,112 29,283 27,995 26,170 25,045
capital formation 37,196 33,462 24,225 18,745 16,390
in stocks
services
services
prices
the world
prices
2007 2008 2009 2010 2011
goods and services 85,967 85,909 81,279 82,060 80,067
1,773 -341 -1,465 -553 209
156,282 154,550 148,637 157,810 165,789
-141,473 -137,281 -123,905 -128,326 -127,879
170,389 166,796 157,695 156,487 158,726
-27,226 -26,092 -28,811 -26,285 -31,742
142,848 140,316 128,988 130,202 126,983
2007 Q1 Q2 Q3 Q4
21,073 20,982 21,094 22,818
7,141 7,095 7,303 7,573
10,694 8,965 8,559 8,977
14 740 -973 1,992
37,808 39,319 38,441 40,715
-34,726 -34,621 -34,350 -37,777
43,081 42,598 41,395 43,316
-7,106 -7,302 -6,031 -6,787
35,925 35,284 35,209 36,431
2008 Q1 Q2 Q3 Q4
21,838 20,908 20,995 22,168
7,247 7,254 7,220 7,563
10,100 8,139 8,327 6,896
-657 936 97 -716
38,102 39,441 38,054 38,953
-34,861 -34,336 -33,237 -34,847
42,891 42,232 41,558 40,114
-6,421 -6,724 -7,351 -5,597
36,330 35,427 34,232 34,327
2009 Q1 Q2 Q3 Q4
20,357 19,887 19,723 21,312
7,171 7,048 6,748 7,029
6,982 6,310 5,722 5,210
-570 109 -502 -502
36,564 38,001 36,551 37,521
-31,133 -31,402 -29,155 -32,215
40,221 40,206 38,951 38,317
-7,157 -7,636 -7,690 -6,328
33,069 32,629 31,351 31,938
2010 Q1 Q2 Q3 Q4
20,300 20,111 20,126 21,522
6,575 6,621 6,362 6,612
5,049 5,428 4,313 3,955
-436 44 246 -407
37,190 39,852 40,311 40,457
-29,992 -32,322 -31,654 -34,359
39,119 39,637 39,335 38,395
-7,591 -7,423 -6,584 -4,687
31,574 32,248 32,750 33,630
2011 Q1 Q2 Q3 Q4
19,923 19,636 19,306 21,203
6,393 6,316 6,156 6,180
4,789 4,520 3,477 3,604
-204 428 437 -451
39,582 42,461 41,574 42,172
-32,307 -32,045 -30,618 -32,910
38,771 40,769 39,721 39,465
-8,009 -8,604 -7,928 -7,202
30,762 32,165 31,794 32,262
-339
42,013
-32,749
39,256
-8,437
30,818
8.4 -1.1 -3.8 6.2 5.1
7.9 -3.0 -9.7 3.6 -0.3
5.4 -2.1 -5.5 -0.8 1.4
4.2 -1.8 -8.1 0.9 -2.5
2012 Q1 19,477 6,184 5,172 Percentage change on corresponding period of previous year 2007 6.4 6.5 2.3 2008 -0.1 0.6 -10.0 2009 -5.4 -4.4 -27.6 2010 1.0 -6.5 -22.6 2011 -2.4 -4.3 -12.6
GDP at Net factor constant income from market the rest of
€million GNP at constant market
Personal consumption of
2007 Q1 Q2 Q3 Q4
6.6 6.3 7.0 5.7
8.6 6.9 5.7 5.1
12.7 6.6 -5.6 -4.3
8.9 7.7 6.7 10.1
9.6 5.7 9.5 7.1
8.1 5.3 2.9 5.6
6.8 2.5 5.1 2.4
2008 Q1 Q2 Q3 Q4
3.6 -0.4 -0.5 -2.8
1.5 2.2 -1.1 -0.1
-5.6 -9.2 -2.7 -23.2
0.8 0.3 -1.0 -4.3
0.4 -0.8 -3.2 -7.8
-0.4 -0.9 0.4 -7.4
1.1 0.4 -2.8 -5.8
2009 Q1 Q2 Q3 Q4
-6.8 -4.9 -6.1 -3.9
-1.0 -2.8 -6.5 -7.1
-30.9 -22.5 -31.3 -24.4
-4.0 -3.7 -3.9 -3.7
-10.7 -8.5 -12.3 -7.6
-6.2 -4.8 -6.3 -4.5
-9.0 -7.9 -8.4 -7.0
2010 Q1 Q2 Q3 Q4
-0.3 1.1 2.0 1.0
-8.3 -6.1 -5.7 -5.9
-27.7 -14.0 -24.6 -24.1
1.7 4.9 10.3 7.8
-3.7 2.9 8.6 6.7
-2.7 -1.4 1.0 0.2
-4.5 -1.2 4.5 5.3
2011 Q1 Q2 Q3 Q4
-1.9 -2.4 -4.1 -1.5
-2.8 -4.6 -3.2 -6.5
-5.2 -16.7 -19.4 -8.9
6.4 6.5 3.1 4.2
7.7 -0.9 -3.3 -4.2
-0.9 2.9 1.0 2.8
-2.6 -0.3 -2.9 -4.1
-3.3
8.0
6.1
1.4
1.2
0.2
2012 Q1 -2.2 *Chain linked series not additive
5
Table 4 Gross Value Added at Constant Factor Cost by Sector of Origin and Gross National Product at Constant € million Market Prices (Chain linked annually and referenced to year 2010) - Seasonally Adjusted (Note the sectors here are based on Nace rev 2. For further details see the methodology notes at the back) Period
Agric. forestry and
Industry
fishing
of which Building and
Dist. transport software and
Public admin. and
Other services (including
GDP at constant factor
construct.
comms.
defence
rent)
cost
Taxes less subsidies
GDP at Net factor constant income from market the rest of prices
the world
GNP at constant market prices
2007 Q1 Q2 Q3 Q4
935 933 886 944
10,793 10,127 10,741 10,898
1,260 1,199 1,180 1,190
7,424 7,498 7,037 7,525
2,042 2,073 2,099 2,086
15,684 15,746 15,855 15,804
37,187 36,589 36,285 37,922
5,948 5,844 5,699 5,499
43,045 42,267 41,818 43,355
-6,896 -6,919 -5,921 -7,674
36,028 35,280 35,784 35,783
2008 Q1 Q2 Q3 Q4
920 880 963 902
10,350 10,225 10,235 9,068
1,232 1,172 1,114 1,013
7,732 7,717 7,813 7,913
2,151 2,195 2,185 2,149
15,759 15,541 15,524 15,259
37,371 36,747 36,954 35,688
5,509 5,192 4,945 4,692
42,822 41,857 41,805 40,346
-6,196 -6,322 -7,179 -6,431
36,440 35,428 34,678 33,774
2009 Q1 Q2 Q3 Q4
882 888 814 821
9,552 9,334 8,699 8,246
922 846 781 730
8,006 8,069 8,131 8,022
2,111 2,078 2,054 2,047
15,509 15,241 15,149 15,142
36,029 35,647 35,018 34,670
4,164 4,102 4,043 4,040
40,206 39,778 39,024 38,685
-6,899 -7,130 -7,482 -7,369
33,236 32,622 31,660 31,430
2010 Q1 Q2 Q3 Q4
806 796 806 824
9,351 9,030 8,990 9,186
614 616 611 572
8,192 8,268 8,760 8,504
1,993 1,956 1,952 1,930
14,959 14,995 14,797 15,057
35,277 35,048 35,300 34,915
3,919 4,011 4,069 3,928
39,207 39,093 39,340 38,828
-7,318 -6,849 -6,457 -5,470
31,843 32,220 32,993 33,075
2011 Q1 Q2 Q3 Q4
762 770 774 732
9,164 9,243 9,376 9,428
531 516 482 478
8,742 8,747 8,619 8,928
1,904 1,887 1,874 1,882
14,604 14,999 14,906 14,737
35,038 36,080 35,780 36,045
3,930 3,991 3,917 3,925
38,960 40,120 39,673 39,948
-7,719 -7,895 -7,799 -8,442
31,131 32,115 31,986 31,693
2012 Q1
756
9,341
472
7,905
1,862
14,846
35,729
3,806
39,520
-8,115
31,274
Percentage change on previous quarter 2007 Q1 Q2 Q3 Q4
8.9 -0.2 -5.1 6.6
1.8 -6.2 6.1 1.5
6.1 -4.8 -1.6 0.8
12.2 1.0 -6.1 6.9
2.3 1.5 1.2 -0.6
2.4 0.4 0.7 -0.3
5.3 -1.6 -0.8 4.5
6.5 -1.7 -2.5 -3.5
5.5 -1.8 -1.1 3.7
3.3 -2.1 1.4 -0.0
2008 Q1 Q2 Q3 Q4
-2.6 -4.4 9.5 -6.3
-5.0 -1.2 0.1 -11.4
3.5 -4.8 -5.0 -9.1
2.7 -0.2 1.2 1.3
3.1 2.1 -0.5 -1.6
-0.3 -1.4 -0.1 -1.7
-1.5 -1.7 0.6 -3.4
0.2 -5.8 -4.8 -5.1
-1.2 -2.3 -0.1 -3.5
1.8 -2.8 -2.1 -2.6
2009 Q1 Q2 Q3 Q4
-2.2 0.7 -8.4 0.8
5.3 -2.3 -6.8 -5.2
-9.0 -8.2 -7.7 -6.6
1.2 0.8 0.8 -1.3
-1.8 -1.6 -1.2 -0.3
1.6 -1.7 -0.6 -0.0
1.0 -1.1 -1.8 -1.0
-11.3 -1.5 -1.4 -0.1
-0.3 -1.1 -1.9 -0.9
-1.6 -1.8 -2.9 -0.7
2010 Q1 Q2 Q3 Q4
-1.7 -1.3 1.3 2.2
13.4 -3.4 -0.4 2.2
-15.8 0.3 -0.9 -6.4
2.1 0.9 6.0 -2.9
-2.6 -1.8 -0.2 -1.1
-1.2 0.2 -1.3 1.8
1.8 -0.6 0.7 -1.1
-3.0 2.3 1.4 -3.5
1.3 -0.3 0.6 -1.3
1.3 1.2 2.4 0.2
2011 Q1 Q2 Q3 Q4
-7.5 1.0 0.5 -5.3
-0.2 0.9 1.4 0.6
-7.1 -2.9 -6.7 -0.9
2.8 0.1 -1.5 3.6
-1.3 -0.9 -0.7 0.4
-3.0 2.7 -0.6 -1.1
0.4 3.0 -0.8 0.7
0.1 1.6 -1.9 0.2
0.3 3.0 -1.1 0.7
-5.9 3.2 -0.4 -0.9
2012 Q1
3.2
-0.9
-1.1
-11.5
-1.0
0.7
-0.9
-3.0
-1.1
-1.3
6
Table 5 Expenditure on Gross National Product at Current Market Prices - Seasonally Adjusted Period
Personal Net exp. consumpby central tion of and local goods and government services on current goods and services
Gross domestic fixed capital formation
Value of physical changes in stocks
Exports of goods and services
Imports of goods and services
GDP at current market prices
Net factor income from the rest of the world
€million GNP at current market prices
2007 Q1 Q2 Q3 Q4
22,472 23,081 23,417 23,670
7,101 7,230 7,338 7,334
13,235 11,900 11,437 11,853
65 7 -140 1,087
37,876 37,863 38,114 38,601
-33,388 -33,014 -34,207 -34,685
47,682 47,246 45,852 47,977
-6,926 -6,792 -5,917 -6,969
40,873 40,442 40,163 40,651
2008 Q1 Q2 Q3 Q4
23,915 23,514 23,625 23,070
7,519 7,693 7,624 7,647
11,389 9,539 10,164 8,222
-308 176 166 -370
37,568 37,090 37,486 38,134
-34,139 -33,230 -33,710 -32,887
45,908 44,622 44,703 43,663
-5,941 -6,051 -7,080 -6,307
40,123 38,671 37,807 36,959
2009 Q1 Q2 Q3 Q4
21,192 20,838 20,561 20,533
7,708 7,227 7,174 7,106
7,042 6,547 6,283 5,742
-442 -309 -409 -321
37,369 36,960 36,186 35,963
-31,186 -30,502 -29,161 -29,579
41,445 40,648 39,887 39,304
-6,851 -7,065 -7,394 -7,109
34,641 33,653 32,604 32,021
2010 Q1 Q2 Q3 Q4
20,448 20,570 20,663 20,358
6,661 6,540 6,436 6,527
4,709 5,145 4,523 4,382
-254 -250 126 -167
37,810 39,350 40,901 39,832
-29,910 -32,118 -33,040 -33,313
39,623 39,563 39,458 37,842
-7,255 -6,915 -6,516 -5,409
32,344 32,787 33,042 32,018
2011 Q1 Q2 Q3 Q4
20,339 20,383 20,112 20,443
6,405 6,482 6,425 6,107
4,247 4,154 3,789 3,915
12 181 239 -200
40,860 41,421 41,914 42,662
-33,421 -32,588 -32,779 -33,162
38,719 40,432 39,640 40,210
-7,797 -7,889 -7,832 -8,595
30,832 32,626 31,912 31,630
2012 Q1
20,279
6,464
4,459
-111
43,808
-34,803
40,400
-8,328
31,975
Percentage change on previous quarter 2007 Q1 Q2 Q3 Q4
3.2 2.7 1.5 1.1
5.0 1.8 1.5 -0.1
3.8 -10.1 -3.9 3.6
7.2 -0.0 0.7 1.3
4.9 -1.1 3.6 1.4
6.0 -0.9 -3.0 4.6
4.1 -1.1 -0.7 1.2
2008 Q1 Q2 Q3 Q4
1.0 -1.7 0.5 -2.3
2.5 2.3 -0.9 0.3
-3.9 -16.2 6.5 -19.1
-2.7 -1.3 1.1 1.7
-1.6 -2.7 1.4 -2.4
-4.3 -2.8 0.2 -2.3
-1.3 -3.6 -2.2 -2.2
2009 Q1 Q2 Q3 Q4
-8.1 -1.7 -1.3 -0.1
0.8 -6.2 -0.7 -1.0
-14.3 -7.0 -4.0 -8.6
-2.0 -1.1 -2.1 -0.6
-5.2 -2.2 -4.4 1.4
-5.1 -1.9 -1.9 -1.5
-6.3 -2.9 -3.1 -1.8
2010 Q1 Q2 Q3 Q4
-0.4 0.6 0.4 -1.5
-6.3 -1.8 -1.6 1.4
-18.0 9.3 -12.1 -3.1
5.1 4.1 3.9 -2.6
1.1 7.4 2.9 0.8
0.8 -0.2 -0.3 -4.1
1.0 1.4 0.8 -3.1
2011 Q1 Q2 Q3 Q4
-0.1 0.2 -1.3 1.6
-1.9 1.2 -0.9 -5.0
-3.1 -2.2 -8.8 3.3
2.6 1.4 1.2 1.8
0.3 -2.5 0.6 1.2
2.3 4.4 -2.0 1.4
-3.7 5.8 -2.2 -0.9
2012 Q1
-0.8
5.8
13.9
2.7
4.9
0.5
1.1
7
Table 6 Expenditure on Gross National Product at Constant Market Prices (Chain linked annually and referenced to year 2010) - Seasonally Adjusted Period
Personal Net exp. consumpby central tion of and local goods and government services on current goods and services
Gross domestic fixed capital formation
Value of physical changes in stocks
Exports of goods and services
Imports of goods and services
GDP at constant market prices
Net factor income from the rest of the world
€million GNP at constant market prices
2007 Q1 Q2 Q3 Q4
21,140 21,406 21,620 21,756
7,259 7,201 7,336 7,336
9,962 9,048 8,887 9,350
31 109 -337 1,952
38,932 38,677 38,946 39,790
-35,242 -34,615 -35,599 -35,958
43,045 42,267 41,818 43,355
-6,896 -6,919 -5,921 -7,674
36,028 35,280 35,784 35,783
2008 Q1 Q2 Q3 Q4
21,948 21,339 21,511 21,093
7,346 7,327 7,293 7,341
9,326 8,084 8,732 7,331
-583 381 487 -652
39,210 38,717 38,471 38,262
-35,429 -34,304 -34,462 -33,178
42,822 41,857 41,805 40,346
-6,196 -6,322 -7,179 -6,431
36,440 35,428 34,678 33,774
2009 Q1 Q2 Q3 Q4
20,508 20,303 20,194 20,245
7,247 7,089 6,846 6,843
6,375 6,140 6,090 5,669
-432 -355 -384 -296
37,575 37,253 36,860 37,035
-31,646 -31,336 -30,215 -30,751
40,206 39,778 39,024 38,685
-6,899 -7,130 -7,482 -7,369
33,236 32,622 31,660 31,430
2010 Q1 Q2 Q3 Q4
20,494 20,532 20,596 20,423
6,620 6,643 6,471 6,457
4,549 5,166 4,685 4,387
-280 -341 175 -108
38,180 39,003 40,574 40,111
-30,454 -32,202 -32,804 -32,892
39,207 39,093 39,340 38,828
-7,318 -6,849 -6,457 -5,470
31,843 32,220 32,993 33,075
2011 Q1 Q2 Q3 Q4
20,142 20,044 19,753 20,115
6,417 6,328 6,266 6,054
4,249 4,239 3,842 4,058
-34 67 291 -113
40,570 41,531 41,779 41,938
-32,756 -31,873 -31,743 -31,593
38,960 40,120 39,673 39,948
-7,719 -7,895 -7,799 -8,442
31,131 32,115 31,986 31,693
2012 Q1
19,702
6,190
4,527
-162
43,019
-33,129
39,520
-8,115
31,274
Percentage change on previous quarter 2007 Q1 Q2 Q3 Q4
2.5 1.3 1.0 0.6
4.2 -0.8 1.9 -0.0
3.7 -9.2 -1.8 5.2
8.2 -0.7 0.7 2.2
4.7 -1.8 2.8 1.0
5.5 -1.8 -1.1 3.7
3.3 -2.1 1.4 -0.0
2008 Q1 Q2 Q3 Q4
0.9 -2.8 0.8 -1.9
0.1 -0.3 -0.5 0.7
-0.3 -13.3 8.0 -16.0
-1.5 -1.3 -0.6 -0.5
-1.5 -3.2 0.5 -3.7
-1.2 -2.3 -0.1 -3.5
1.8 -2.8 -2.1 -2.6
2009 Q1 Q2 Q3 Q4
-2.8 -1.0 -0.5 0.3
-1.3 -2.2 -3.4 -0.1
-13.1 -3.7 -0.8 -6.9
-1.8 -0.9 -1.1 0.5
-4.6 -1.0 -3.6 1.8
-0.3 -1.1 -1.9 -0.9
-1.6 -1.8 -2.9 -0.7
2010 Q1 Q2 Q3 Q4
1.2 0.2 0.3 -0.8
-3.2 0.3 -2.6 -0.2
-19.8 13.6 -9.3 -6.4
3.1 2.2 4.0 -1.1
-1.0 5.7 1.9 0.3
1.3 -0.3 0.6 -1.3
1.3 1.2 2.4 0.2
2011 Q1 Q2 Q3 Q4
-1.4 -0.5 -1.4 1.8
-0.6 -1.4 -1.0 -3.4
-3.1 -0.2 -9.4 5.6
1.1 2.4 0.6 0.4
-0.4 -2.7 -0.4 -0.5
0.3 3.0 -1.1 0.7
-5.9 3.2 -0.4 -0.9
2012 Q1
-2.1
2.2
11.6
2.6
4.9
-1.1
-1.3
8
Annex 1 - Trade Summary: Quarterly Breakdown of trade into goods/services at current and constant prices Trade at Current Prices Exports
2007 Q1 Q2 Q3 Q4 2008 Q1 Q2 Q3 Q4 2009 Q1 Q2 Q3 Q4 2010 Q1 Q2 Q3 Q4 2011 Q1 Q2 Q3 Q4 2012 Q1
Trade at Constant Prices € million Exports Imports
Imports
Total
Goods
Services
Total
Goods
Services
Total
Goods
Services
Total
Goods
Services
36,879 38,499 37,590 39,421 152,389
20,992 21,592 20,053 21,442 84,079
15,887 16,907 17,537 17,979 68,310
32,939 33,095 32,978 36,316 135,328
16,805 15,446 14,977 17,040 64,268
16,134 17,649 18,001 19,276 71,060
37,808 39,319 38,441 40,715 156,282
20,496 21,165 19,825 21,680 83,167
17,312 18,154 18,616 19,034 73,116
34,726 34,621 34,350 37,777 141,473
17,270 15,803 15,257 17,381 65,712
17,456 18,817 19,093 20,396 75,762
36,630 37,773 37,016 38,762 150,181
20,019 20,293 19,666 21,059 81,037
16,611 17,480 17,350 17,703 69,144
33,688 33,332 32,456 34,400 133,877
15,446 14,479 13,857 13,445 57,227
18,242 18,853 18,599 20,955 76,650
38,102 39,441 38,054 38,953 154,550
20,665 21,389 20,197 20,672 82,923
17,437 18,051 17,857 18,281 71,627
34,861 34,336 33,237 34,847 137,281
15,529 14,594 13,881 13,174 57,178
19,332 19,743 19,356 21,672 80,103
36,513 37,697 35,785 36,374 146,369
20,329 20,390 18,665 18,261 77,645
16,184 17,307 17,120 18,113 68,724
30,821 30,618 28,082 30,832 120,352
12,245 11,389 10,468 11,076 45,178
18,576 19,229 17,614 19,756 75,174
36,564 38,001 36,551 37,521 148,637
20,147 20,444 19,027 18,861 78,478
16,417 17,557 17,524 18,660 70,159
31,133 31,402 29,155 32,215 123,905
12,348 11,947 11,168 11,924 47,387
18,786 19,455 17,987 20,291 76,518
37,009 40,217 40,491 40,093 157,810
20,036 21,512 21,250 19,809 82,607
16,973 18,705 19,241 20,284 75,203
29,638 32,281 31,814 34,594 128,326
11,166 11,825 11,509 12,356 46,856
18,472 20,456 20,305 22,238 81,470
37,190 39,852 40,311 40,457 157,810
20,168 21,160 21,097 20,181 82,607
17,021 18,692 19,214 20,276 75,203
29,992 32,322 31,654 34,359 128,326
11,455 11,936 11,395 12,071 46,856
18,536 20,386 20,259 22,289 81,470
40,088 42,375 41,538 42,790 166,791
20,980 21,786 21,038 21,054 84,858
19,108 20,589 20,500 21,736 81,933
33,204 32,801 31,553 34,316 131,875
12,761 12,126 11,208 12,175 48,270
20,443 20,675 20,345 22,141 83,605
39,582 42,461 41,574 42,172 165,789
20,958 22,025 21,185 20,644 84,812
18,623 20,436 20,390 21,528 80,977
32,307 32,045 30,618 32,910 127,879
12,165 11,703 10,591 11,308 45,767
20,143 20,342 20,027 21,601 82,113
43,054
21,824
21,230
34,678
13,541
21,137
42,013
21,181
20,832
32,749
12,309
20,441
% growth rate year on year 2007 Q1 Q2 Q3 Q4
9.1 8.6 6.7 8.8
2.9 3.7 -2.1 2.5
18.5 15.5 18.8 17.6
10.7 7.1 11.3 9.1
11.8 7.9 7.9 7.0
9.5 6.4 14.3 11.1
8.9 7.7 6.7 10.1
5.2 4.9 0.7 7.7
13.8 11.2 14.0 12.8
9.6 5.7 9.5 7.1
13.1 8.8 7.7 6.3
6.3 3.3 11.0 7.7
2008 Q1 Q2 Q3 Q4
-0.7 -1.9 -1.5 -1.7
-4.6 -6.0 -1.9 -1.8
4.6 3.4 -1.1 -1.5
2.3 0.7 -1.6 -5.3
-8.1 -6.3 -7.5 -21.1
13.1 6.8 3.3 8.7
0.8 0.3 -1.0 -4.3
0.8 1.1 1.9 -4.7
0.7 -0.6 -4.1 -4.0
0.4 -0.8 -3.2 -7.8
-10.1 -7.7 -9.0 -24.2
10.7 4.9 1.4 6.3
2009 Q1 Q2 Q3 Q4
-0.3 -0.2 -3.3 -6.2
1.5 0.5 -5.1 -13.3
-2.6 -1.0 -1.3 2.3
-8.5 -8.1 -13.5 -10.4
-20.7 -21.3 -24.5 -17.6
1.8 2.0 -5.3 -5.7
-4.0 -3.7 -3.9 -3.7
-2.5 -4.4 -5.8 -8.8
-5.8 -2.7 -1.9 2.1
-10.7 -8.5 -12.3 -7.6
-20.5 -18.1 -19.5 -9.5
-2.8 -1.5 -7.1 -6.4
2010 Q1 Q2 Q3 Q4
1.4 6.7 13.1 10.2
-1.4 5.5 13.8 8.5
4.9 8.1 12.4 12.0
-3.8 5.4 13.3 12.2
-8.8 3.8 9.9 11.6
-0.6 6.4 15.3 12.6
1.7 4.9 10.3 7.8
0.1 3.5 10.9 7.0
3.7 6.5 9.6 8.7
-3.7 2.9 8.6 6.7
-7.2 -0.1 2.0 1.2
-1.3 4.8 12.6 9.8
2011 Q1 Q2 Q3 Q4
8.3 5.4 2.6 6.7
4.7 1.3 -1.0 6.3
12.6 10.1 6.5 7.2
12.0 1.6 -0.8 -0.8
14.3 2.5 -2.6 -1.5
10.7 1.1 0.2 -0.4
6.4 6.5 3.1 4.2
3.9 4.1 0.4 2.3
9.4 9.3 6.1 6.2
7.7 -0.9 -3.3 -4.2
6.2 -2.0 -7.1 -6.3
8.7 -0.2 -1.1 -3.1
2012 Q1
7.4
4.0
11.1
4.4
6.1
3.4
6.1
1.1
11.9
1.4
1.2
1.5
9
Annex 2 Transportable Goods Industries & Utilities Sector and Building & Construction Sector at Constant Factor Cost (Chain linked annually and referenced to year 2010) - Non-Seasonally Adjusted and Seasonally Adjusted €million NON-SEASONALLY ADJUSTED Period
SEASONALLY ADJUSTED
Industry
of which of which Industry of which Transportable Transportable Building Goods Industries and Goods Industries and Utilities construction and Utilities (Note the sectors here are based on Nace rev 2. For further details see the methodology notes at the back)
of which Building and construction
2007 Q1 Q2 Q3 Q4
11,009 10,580 10,166 10,664
9,440 9,236 8,440 9,052
1,240 1,151 1,213 1,223
10,793 10,127 10,741 10,898
9,178 8,602 9,199 9,326
1,260 1,199 1,180 1,190
2008 Q1 Q2 Q3 Q4
10,680 10,685 9,728 8,742
9,123 9,406 8,153 7,303
1,210 1,125 1,150 1,041
10,350 10,225 10,235 9,068
8,768 8,792 8,803 7,636
1,232 1,172 1,114 1,013
2009 Q1 Q2 Q3 Q4
9,941 9,784 8,273 7,855
9,046 9,081 7,383 7,045
900 814 808 753
9,552 9,334 8,699 8,246
8,630 8,496 7,922 7,457
922 846 781 730
2010 Q1 Q2 Q3 Q4
9,803 9,497 8,529 8,697
9,210 8,901 7,896 8,104
594 596 631 593
9,351 9,030 8,990 9,186
8,721 8,339 8,453 8,625
614 616 611 572
2011 Q1 Q2 Q3 Q4
9,646 9,749 8,872 8,901
9,136 9,248 8,375 8,404
510 501 497 497
9,164 9,243 9,376 9,428
8,626 8,663 8,960 8,967
531 516 482 478
2012 Q1
9,859
9,408
451
9,341
8,863
472
Percentage change on corresponding period of previous year
Percentage change on previous quarter
2007 Q1 Q2 Q3 Q4
4.2 -8.4 -1.4 1.0
4.1 -12.1 -1.6 1.3
4.3 1.2 -1.8 -0.2
1.8 -6.2 6.1 1.5
1.6 -6.3 6.9 1.4
6.1 -4.8 -1.6 0.8
2008 Q1 Q2 Q3 Q4
-3.0 1.0 -4.3 -18.0
-3.3 1.8 -3.4 -19.3
-2.4 -2.3 -5.1 -14.9
-5.0 -1.2 0.1 -11.4
-6.0 0.3 0.1 -13.3
3.5 -4.8 -5.0 -9.1
2009 Q1 Q2 Q3 Q4
-6.9 -8.4 -15.0 -10.1
-0.8 -3.5 -9.4 -3.5
-25.6 -27.6 -29.7 -27.7
5.3 -2.3 -6.8 -5.2
13.0 -1.5 -6.8 -5.9
-9.0 -8.2 -7.7 -6.6
2010 Q1 Q2 Q3 Q4
-1.4 -2.9 3.1 10.7
1.8 -2.0 7.0 15.0
-34.0 -26.8 -21.9 -21.3
13.4 -3.4 -0.4 2.2
17.0 -4.4 1.4 2.0
-15.8 0.3 -0.9 -6.4
2011 Q1 Q2 Q3 Q4
-1.6 2.7 4.0 2.3
-0.8 3.9 6.1 3.7
-14.1 -15.9 -21.2 -16.2
-0.2 0.9 1.4 0.6
0.0 0.4 3.4 0.1
-7.1 -2.9 -6.7 -0.9
2012 Q1
2.2
3.0
-11.6
-0.9
-1.2
-1.1
10
Annex 3A Total Domestic Demand at Current Market Prices & Constant Prices (Chain linked annually and referenced to year 2010) € million - Non Seasonally Adjusted CURRENT MARKET PRICES Period
Personal
Gross domestic fixed capital formation
Final Domestic Demand
Value of physical changes in stocks
Total Domestic Demand
92,724 94,153 83,155 82,060 81,308
28,997 30,482 29,213 26,170 25,410
48,377 39,324 25,601 18,745 16,112
170,098 163,958 137,969 126,975 122,830
1,025 -330 -1,490 -553 227
171,122 163,628 136,479 126,422 123,056
22,353 22,568 22,828 24,975 92,724
7,038 7,104 7,304 7,551 28,997
13,994 11,828 11,056 11,499 48,377
43,385 41,501 41,187 44,025 170,098
28 381 -490 1,106 1,025
23,732 22,953 23,041 24,427 94,153
7,476 7,555 7,562 7,888 30,482
12,137 9,645 9,721 7,821 39,324
43,345 40,153 40,324 40,137 163,958
20,971 20,319 20,055 21,809 83,155
7,671 7,099 7,097 7,346 29,213
7,582 6,768 5,918 5,333 25,601
20,183 20,054 20,138 21,684 82,060
6,630 6,419 6,363 6,758 26,170
20,034 19,877 19,587 21,810 81,308 19,950
consumption of goods and services
2007 2008 2009 2010 2011 2007 Q1 Q2 Q3 Q4 2008 Q1 Q2 Q3 Q4 2009 Q1 Q2 Q3 Q4 2010 Q1 Q2 Q3 Q4 2011 Q1 Q2 Q3 Q4 2012 Q1
CONSTANT MARKET PRICES
Net exp. by central and local government on current goods and services
Personal
Net exp. by central and local government on current goods and services
Gross domestic fixed capital formation
Final Domestic Demand
Value of physical changes in stocks
Total Domestic Demand
85,967 85,909 81,279 82,060 80,067
29,112 29,283 27,995 26,170 25,045
37,196 33,462 24,225 18,745 16,390
153,683 149,392 133,656 126,975 121,502
1,773 -341 -1,465 -553 209
154,334 148,948 132,194 126,422 121,712
43,413 41,881 40,697 45,130 171,122
21,073 20,982 21,094 22,818 85,967
7,141 7,095 7,303 7,573 29,112
10,694 8,965 8,559 8,977 37,196
39,601 37,362 37,157 39,563 153,683
14 740 -973 1,992 1,773
39,547 37,675 36,613 40,500 154,334
-390 529 -27 -442 -330
42,955 40,682 40,297 39,695 163,628
21,838 20,908 20,995 22,168 85,909
7,247 7,254 7,220 7,563 29,283
10,100 8,139 8,327 6,896 33,462
39,671 36,467 36,742 36,513 149,392
-657 936 97 -716 -341
39,257 36,890 36,727 36,074 148,948
36,224 34,187 33,070 34,488 137,969
-568 14 -430 -505 -1,490
35,655 34,200 32,640 33,983 136,479
20,357 19,887 19,723 21,312 81,279
7,171 7,048 6,748 7,029 27,995
6,982 6,310 5,722 5,210 24,225
34,605 33,301 32,222 33,527 133,656
-570 109 -502 -502 -1,465
34,054 33,369 31,734 33,038 132,194
5,138 5,446 4,172 3,988 18,745
31,951 31,920 30,674 32,431 126,975
-399 51 226 -431 -553
31,552 31,971 30,899 31,999 126,422
20,300 20,111 20,126 21,522 82,060
6,575 6,621 6,362 6,612 26,170
5,049 5,428 4,313 3,955 18,745
31,935 32,182 30,794 32,064 126,975
-436 44 246 -407 -553
31,509 32,221 31,027 31,665 126,422
6,369 6,361 6,353 6,327 25,410
4,704 4,469 3,435 3,505 16,112
31,107 30,707 29,374 31,641 122,830
-142 480 390 -501 227
30,965 31,187 29,764 31,140 123,056
19,923 19,636 19,306 21,203 80,067
6,393 6,316 6,156 6,180 25,045
4,789 4,520 3,477 3,604 16,390
31,104 30,472 28,939 30,987 121,502
-204 428 437 -451 209
30,901 30,900 29,376 30,535 121,712
6,423
5,009
31,382
-266
31,117
19,477
6,184
5,172
30,833
-339
30,494
Percentage change on corresponding period of previous year
consumption of goods and services
Percentage change on corresponding period of previous year
2007 Q1 Q2 Q3 Q4
9.4 9.6 10.3 9.0
13.2 11.7 10.4 8.5
14.2 5.4 -9.7 -8.6
11.5 8.7 4.1 3.7
9.8 6.4 4.2 5.6
6.6 6.3 7.0 5.7
8.6 6.9 5.7 5.1
12.7 6.6 -5.6 -4.3
8.9 6.4 3.0 2.6
7.3 4.2 2.9 4.4
2008 Q1 Q2 Q3 Q4
6.2 1.7 0.9 -2.2
6.2 6.3 3.5 4.5
-13.3 -18.5 -12.1 -32.0
-0.1 -3.2 -2.1 -8.8
-1.1 -2.9 -1.0 -12.0
3.6 -0.4 -0.5 -2.8
1.5 2.2 -1.1 -0.1
-5.6 -9.2 -2.7 -23.2
0.2 -2.4 -1.1 -7.7
-0.7 -2.1 0.3 -10.9
2009 Q1 Q2 Q3 Q4
-11.6 -11.5 -13.0 -10.7
2.6 -6.0 -6.2 -6.9
-37.5 -29.8 -39.1 -31.8
-16.4 -14.9 -18.0 -14.1
-17.0 -15.9 -19.0 -14.4
-6.8 -4.9 -6.1 -3.9
-1.0 -2.8 -6.5 -7.1
-30.9 -22.5 -31.3 -24.4
-12.8 -8.7 -12.3 -8.2
-13.3 -9.5 -13.6 -8.4
2010 Q1 Q2 Q3 Q4
-3.8 -1.3 0.4 -0.6
-13.6 -9.6 -10.3 -8.0
-32.2 -19.5 -29.5 -25.2
-11.8 -6.6 -7.2 -6.0
-11.5 -6.5 -5.3 -5.8
-0.3 1.1 2.0 1.0
-8.3 -6.1 -5.7 -5.9
-27.7 -14.0 -24.6 -24.1
-7.7 -3.4 -4.4 -4.4
-7.5 -3.4 -2.2 -4.2
2011 Q1 Q2 Q3 Q4
-0.7 -0.9 -2.7 0.6
-3.9 -0.9 -0.2 -6.4
-8.5 -18.0 -17.7 -12.1
-2.6 -3.8 -4.2 -2.4
-1.9 -2.5 -3.7 -2.7
-1.9 -2.4 -4.1 -1.5
-2.8 -4.6 -3.2 -6.5
-5.2 -16.7 -19.4 -8.9
-2.6 -5.3 -6.0 -3.4
-1.9 -4.1 -5.3 -3.6
2012 Q1
-0.4
0.8
6.5
0.9
0.5
-2.2
-3.3
8.0
-0.9
-1.3
*Chain linked series not additive
11
Annex 3B Total Domestic Demand at Current Market Prices & Constant Prices (Chain linked annually and referenced to year 2010) - Seasonally Adjusted € million CURRENT MARKET PRICES Period
Personal consumption of goods and services
CONSTANT MARKET PRICES
Net exp. by central and local government on current goods and services
Gross domestic fixed capital formation
Final Domestic Demand
Value of physical changes in stocks
Total Domestic Demand
Personal consumption of goods and services
Net exp. by central and local government on current goods and services
Gross domestic fixed capital formation
Final Domestic Demand
Value of physical changes in stocks
Total Domestic Demand
2007 Q1 Q2 Q3 Q4
22,472 23,081 23,417 23,670
7,101 7,230 7,338 7,334
13,235 11,900 11,437 11,853
42,994 42,246 42,148 42,664
65 7 -140 1,087
43,170 42,236 42,065 43,515
21,140 21,406 21,620 21,756
7,259 7,201 7,336 7,336
9,962 9,048 8,887 9,350
39,009 37,995 38,028 38,627
31 109 -337 1,952
39,022 37,894 37,989 39,359
2008 Q1 Q2 Q3 Q4
23,915 23,514 23,625 23,070
7,519 7,693 7,624 7,647
11,389 9,539 10,164 8,222
42,999 40,817 41,337 38,847
-308 176 166 -370
42,881 40,998 41,498 38,298
21,948 21,339 21,511 21,093
7,346 7,327 7,293 7,341
9,326 8,084 8,732 7,331
39,132 36,963 37,672 35,631
-583 381 487 -652
38,853 37,004 38,017 35,125
2009 Q1 Q2 Q3 Q4
21,192 20,838 20,561 20,533
7,708 7,227 7,174 7,106
7,042 6,547 6,283 5,742
35,993 34,650 33,987 33,354
-442 -309 -409 -321
35,750 34,405 33,466 32,872
20,508 20,303 20,194 20,245
7,247 7,089 6,846 6,843
6,375 6,140 6,090 5,669
34,228 33,622 33,081 32,701
-432 -355 -384 -296
33,822 33,366 32,740 32,275
2010 Q1 Q2 Q3 Q4
20,448 20,570 20,663 20,358
6,661 6,540 6,436 6,527
4,709 5,145 4,523 4,382
31,801 32,217 31,632 31,361
-254 -250 126 -167
31,741 32,076 31,605 31,023
20,494 20,532 20,596 20,423
6,620 6,643 6,471 6,457
4,549 5,166 4,685 4,387
31,692 32,356 31,668 31,250
-280 -341 175 -108
31,386 32,101 31,954 31,015
2011 Q1 Q2 Q3 Q4
20,339 20,383 20,112 20,443
6,405 6,482 6,425 6,107
4,247 4,154 3,789 3,915
30,968 30,898 30,372 30,619
12 181 239 -200
31,200 31,237 30,401 30,240
20,142 20,044 19,753 20,115
6,417 6,328 6,266 6,054
4,249 4,239 3,842 4,058
30,942 30,565 29,777 30,192
-34 67 291 -113
30,830 30,710 30,219 29,975
2012 Q1
20,279
6,464
4,459
31,212
-111
31,362
19,702
6,190
4,527
30,710
-162
30,428
Percentage change on previous quarter
Percentage change on previous quarter
2007 Q1 Q2 Q3 Q4
3.2 2.7 1.5 1.1
5.0 1.8 1.5 -0.1
3.8 -10.1 -3.9 3.6
4.4 -1.7 -0.2 1.2
4.7 -2.2 -0.4 3.4
2.5 1.3 1.0 0.6
4.2 -0.8 1.9 0.0
3.7 -9.2 -1.8 5.2
3.6 -2.6 0.1 1.6
3.6 -2.9 0.2 3.6
2008 Q1 Q2 Q3 Q4
1.0 -1.7 0.5 -2.3
2.5 2.3 -0.9 0.3
-3.9 -16.2 6.5 -19.1
0.8 -5.1 1.3 -6.0
-1.5 -4.4 1.2 -7.7
0.9 -2.8 0.8 -1.9
0.1 -0.3 -0.5 0.7
-0.3 -13.3 8.0 -16.0
1.3 -5.5 1.9 -5.4
-1.3 -4.8 2.7 -7.6
2009 Q1 Q2 Q3 Q4
-8.1 -1.7 -1.3 -0.1
0.8 -6.2 -0.7 -1.0
-14.3 -7.0 -4.0 -8.6
-7.3 -3.7 -1.9 -1.9
-6.7 -3.8 -2.7 -1.8
-2.8 -1.0 -0.5 0.3
-1.3 -2.2 -3.4 -0.1
-13.1 -3.7 -0.8 -6.9
-3.9 -1.8 -1.6 -1.1
-3.7 -1.3 -1.9 -1.4
2010 Q1 Q2 Q3 Q4
-0.4 0.6 0.4 -1.5
-6.3 -1.8 -1.6 1.4
-18.0 9.3 -12.1 -3.1
-4.7 1.3 -1.8 -0.9
-3.4 1.1 -1.5 -1.8
1.2 0.2 0.3 -0.8
-3.2 0.3 -2.6 -0.2
-19.8 13.6 -9.3 -6.4
-3.1 2.1 -2.1 -1.3
-2.8 2.3 -0.5 -2.9
2011 Q1 Q2 Q3 Q4
-0.1 0.2 -1.3 1.6
-1.9 1.2 -0.9 -5.0
-3.1 -2.2 -8.8 3.3
-1.3 -0.2 -1.7 0.8
0.6 0.1 -2.7 -0.5
-1.4 -0.5 -1.4 1.8
-0.6 -1.4 -1.0 -3.4
-3.1 -0.2 -9.4 5.6
-1.0 -1.2 -2.6 1.4
-0.6 -0.4 -1.6 -0.8
2012 Q1
-0.8
5.8
13.9
1.9
3.7
-2.1
2.2
11.6
1.7
1.5
12
Central Statistics Office
Quarterly National Accounts
Background Notes Introduction This release gives the official quarterly national accounts estimates for Ireland. It provides the
first set of results for quarter 1 of 2012 . These are compiled in accordance with the ESA95 system of accounts, as used in all member states of the European Union. The aggregates shown have been derived from a wide variety of sources. As some of the available sources are of lesser reliability than those used for the annual national accounts, the quarterly estimates given in this release have a higher margin of error than the annual figures. Revisions
Figures for previous quarters have been revised and realigned with the latest annual estimates for 2011 and earlier years which have been published today.
Nace In compliance with EU regulations the Nace Rev. 2 classification system is used in tables 1, 4 and classification Annex 2. This replaces the national classification system which was used up to now.
The results for the economy continue to be shown for five sectors whose titles remain the same as in previous releases. However the contents of the sectors have changed and conform to the Nace Rev. 2 system. One of the main changes to the classification is that the “Publishing” industry has been reclassified from “Industry” to the sector “Distribution, transport, software and communication”. In addition, enterprises in the Hotels and catering sector have been reclassified from the “Service” sector to the “Distribution” sector. The “Software” industry was also included in “Other Services” in the old National Classification but is now part of the new category “Distribution transport, software and communications” in the NACE rev 2 classification. The overall effect on the tables has been that the “Distribution, transport, software and communications” sector accounts now for a much larger share of the total GVA of the economy than heretofore while the sectors classified as “Industry” and “Other Services” account for a lower share. In tables 1 and 4 the following is the correspondence with the relevant sections of Nace Rev. 2: Agriculture, forestry and fishing
Section A
Industry
Sections B to F
Distribution, transport, software & communications
Sections G to J
Public Administration and Defence Other Services
Section O Sections K to N and P to U
For further information on the Nace Rev. 2 classification of industrial activity, visit the CSO website: http://www.cso.ie/en/surveysandmethodology/classifications/classificationofindustrialactivity. Current Price For the annual accounts, GDP at current prices is calculated using two independent approaches
i.e. the income and expenditure methods. On a quarterly basis, it is not possible to compile a reliable income based estimate. The estimates in current prices are on the expenditure basis only and these are supplied in Table 2. The balancing item (i.e. the statistical discrepancy) which is required to adjust the expenditure based estimate to the definitive measure of GDP (the average of income and expenditure) has been projected forward into 2012 in line with the trend in the aggregate of all the other expenditure items. Volumes At constant prices, two measures (output and expenditure) are used. These measures are now
being produced using annual chain linked indices. On the output side, for each quarter, the volume growth measures at a detailed level are weighted together using value added weights of the previous year. Similarly, on the expenditure side, the growth estimates are weighted by expenditure weights of the previous year. The average of the two measures is the growth measure used. The change over a period of years is then calculated by linking together the annual changes. The estimates in this release are referenced to 2010 values. A consequence of this method is that the individual components of GDP at reference year values do not add to the total.
13
Central Statistics Office
Quarterly National Accounts
Definitions Gross Domestic Product (GDP) represents the total value added (output) in the production of
goods and services in the country. Net factor income from the rest of the world (NFI) is the difference between investment income (interest, profits etc.,) and labour income earned abroad by Irish resident persons and companies (inflows) and similar incomes earned in Ireland by non-residents (outflows). The data are taken from the Balance of Payments statistics. However the components of interest flows involving banks in this item in the national accounts are constructed on the basis of “pure” interest rates (that is exclusive of FISIM) whereas in the balance of payments the FISIM adjustment is not carried out. There is an equal and opposite adjustment then made to the imports and exports of services in the national accounts which is not made to these items in the balance of payments. The deflator used to generate the constant price figures is based on the implied quarterly price index for the exports of goods and services. In some years exceptional income payments have had to be deflated individually. Gross National Product (GNP) is the sum of GDP and NFI. Because NFI is the difference between two large gross flows, its magnitude can fluctuate greatly from one quarter to another. This can lead to significant differences between the GDP and GNP growth rate for the same quarter. Methodology
Table 1: Output Measure The estimation procedures are similar to those used for the annual accounts whenever possible. However, in a number of cases the annual methodology cannot be followed due to the lack of relevant data. Agriculture, Forestry and Fishing The estimate for Agriculture is calculated by using the available sub-annual information for exports and slaughterings of animals, milk deliveries, stock changes (six-monthly), fertiliser and feeding stuffs usage etc. For some items, annual figures are distributed equally across the quarters. Monthly sea fish landings are used to estimate the quarterly output of fishing. Industry The gross value added of manufacturing industy is calculated by applying monthly volume of production indices to the previous year’s quarterly gross value added, including royalties. Royalties are separately deflated using the export price index and then deducted. Changes in the volume of investment in construction projects are used to estimate the output of the building and construction sector. Distribution, Transport, Software and Communications For distribution the methods used are similar to those used for the annual calculation. They rely heavily on the retail sales indices and other CSO services inquiries. In the case of transport, most of the output measures used for the annual calculations are available on a quarterly basis. For communications the main data sources are direct inquiries to the suppliers, with additional data and trend estimation for some residual components. Public Administration and Defence The quarterly estimate of value added for public administration and defence has been calculated based on the employment trends in the public sector. Other Services (Incl. Rent) The Other Services category covers a variety of service activities, some of which are surveyed on a quarterly basis by the CSO. For some services, information on outputs is not directly available on a quarterly basis. In most of these cases, quarterly estimates are derived using trends in related indicators. In a small number of residual cases, annual estimates are distributed equally across the quarters. Taxes and Subsidies Taxes and subsidies are deflated at a detailed level using appropriate price indices. Value added taxes and excise duties have been accrued and recorded in the period in which the underlying expenditure took place. Net factor income from the rest of the world The value of net income flows with the rest of the world in the Quarterly National Accounts release is generally consistent with the published Balance of Payments statistics except for the FISIM adjustment (see the definition of this item above).
14
Central Statistics Office
Quarterly National Accounts
Tables 2 and 3: Expenditure Measures The various components of the expenditure based measure of GDP are defined in the annual National Income and Expenditure publication. The methods used for the quarterly series are similar to those used for the annual where possible but in many cases alternative methods have been applied. Personal Consumption Expenditure is estimated using CSO data, such as the Retail Sales Indices together with some direct inquiries. Administrative data sources are used for some goods such as fuel and power products and motor vehicles. Constant price estimates are obtained using components of the Consumer Price Index (CPI). Net Expenditure by Central and Local Government at current market prices is estimated using Government records. From Q2 of 2009 it is calculated net of the public sector pension levy introduced in March 2009. The constant price estimates of remuneration are derived by extrapolating base year estimates using an index of employment or using appropriate deflators for wages and are unaffected by the pension levy which is treated as a reduction in wage rates. Expenditure on goods and services is deflated partly by consumer price indices and partly by wholesale price indices. Gross Domestic Fixed Capital Formation at current market prices includes expenditure on building and construction work and machinery and equipment. The quarterly estimates of dwellings are based on data from the Department of Environment’s (DoE) Quarterly Housing Bulletin. Information on other building and construction is obtained from the Department’s Review and Outlook together with data from the Public Capital Programme. Quarterly estimates of commercial vehicles used in the business sector are estimated using administrative data. Estimates of other machinery and equipment are made by reference to import statistics and the CSO Quarterly Capital Assets in Industry Inquiry. Current estimates are deflated to prices of the previous year using appropriate price indices such as components of the Wholesale Price Index (WPI) and indices for construction activity. Value of Physical Changes in Stocks at current prices covers stock changes in the agricultural, industrial and distribution sectors and in intervention stocks. This item measures the actual value change in stocks between the beginning and end of quarter adjusted for any changes in the prices of the underlying commodities. Data on industrial and distribution stocks are taken from published and unpublished components of the CSO Quarterly Stocks Inquiry. Agricultural stocks are estimated from the results of CSO’s agricultural enumerations and statistics on animal slaughterings, etc. Constant price estimates are calculated by deflating the current estimates using relevant price indices and price data on agricultural and intervention stocks. Some adjustments have been made to the stocks values to improve the coherence of the quarterly accounts. These are judgmental adjustments to allow for within-year timing differences between the output and expenditure measures. Over a calendar year, these adjustments are neutral. Exports and Imports of Goods and Services at current prices are taken from the CSO Balance of Payments series. An adjustment is made for FISIM (see the definition of “net factor income from the rest of the world” page 12) Current price estimates are converted to previous year prices using the available price indices, including export and import unit value indices. A very significant fall in the pattern of distributive type trade with Great Britain in Electrical machinery and parts in 2002 has a very large influence on year-on-year comparisons of both exports and imports for 2003 and the latter part of 2002. While the comparisons of gross flows are considerably influenced, the net balance of trade is not significantly affected. Seasonal The series are adjusted using the X-11 ARIMA procedure, which is an adaptation of the U.S. Adjustment Bureau of the Census X-11 seasonal adjustment program, developed by Statistics Canada. The
adjusted series are obtained by seasonally adjusting each of the original unadjusted series. This applies to GDP and GNP also. In other words the seasonally adjusted GDP and GNP are not derived as the sum of the seasonally adjusted components (such as Personal Consumption, Exports etc.) but rather by seasonally adjusting the unadjusted values of GDP and GNP as shown in Tables 1 - 3. On account of this and also because of the statistical discrepancy in the original series, the sum of the seasonally adjusted components of GDP and GNP do not add to the respective seasonally adjusted series.
15
