The Central Statistics Office has issued the Quarterly National Accounts and the International Accounts for the last quarter of 2025. The accounts show that although seasonally adjusted GDP fell by 3.8 percent in the fourth quarter of 2025, GDP grew by 12.3 percent in 2025. Modified Domestic Demand, a broad measure of underlying domestic activity that covers personal, government, and investment spending rose by 1 percent in the quarter and by 4.9 percent in the year.
Personal spending on goods and services, which is seen as a key measure of domestic economic activity, grew by 0.9 percent in Q4 2025 and was up 2.9 percent in the year. Overall, the multinational-dominated sector grew by 25.1 percent in 2025, with domestic sectors up by 0.9 percent.
The Balance of Payments current account recorded a surplus of €12.8 billion in transactions with the rest of the world in Q4 2025.
Commenting on the figures, Tánaiste and Minister for Finance, Simon Harris said:
“Today’s figures confirm that, despite external headwinds, the domestic economy grew strongly last year, with Modified Domestic Demand expanding by almost 5 per cent for the year as a whole.
“While the headline figures may somewhat overstate the economy’s underlying growth, I am encouraged that consumer spending grew by a solid 3 per cent last year. This reflects rising real incomes and the strength of our labour market, with a record 2.83 million people in employment at the end of 2025”.
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