Industry (excluding Construction) made a positive contribution to the Q2 result, rising by 15.9%. FOR REVISIONS TABLES, PLEASE CLICK ON THE FOLLOWING LINK Quarterly National Accounts Revisions Tables 1 to 4 Quarter 2 2020 (XLS 37KB), Central Statistics Office The two impacts, the decline in IPP Capital Investment and Imports quarter-on-quarter, are largely offsetting and do not have a significant effect on the GDP growth rates reported. These aggregates have previously been estimated using the direct approach and were separately seasonally adjusted. World … Construction declined by 38.3% quarter-on-quarter, with Agriculture, Forestry and Fishing falling by 60.6% and Arts and Entertainment by 65.5%. Final Domestic Demand decreased by 50.0% in Q2 2020 compared with Q2 2019 while Modified Domestic Demand declined by 15.7% over the same period. The Information & Communication sector declined 4.3% year-on-year with Public Administration, Education and Health exhibiting a small decline of 0.2% and Financial & Insurance activities and Real Estate activities exhibiting declines of 3.7% and 4.4% respectively. The change in approach will ensure greater consistency between the seasonally adjusted components of GDP such as Personal Consumption, Gross Fixed Capital Formation etc. The statistic shows the growth in real GDP in Ireland from 2009 to 2019, with projections up until 2021. Skehard Road, Cork T12 X00E, Ireland, Geographical Profiles of Income in Ireland, Life in 1916 Ireland: Stories from statistics, Ireland North and South - A Statistical Profile, Agriculture Price Indices - Preliminary estimates, Press Statement Postponement of Census 2021, Press Statement Census of Agriculture September 2020 Reminder, Information Note on the Implications of COVID-19 on the processing of Death Certificates, Press Statement COVID-19 Pandemic and the Production of Official Statistics, Turnover for Structural Business Statistics, 2016 - 2018, Labour Force Survey Bulletin: Main Place of Work and Commuting Time in 2019. Business Impact of COVID-19 Survey 4 May to 31 May . Value added of Distribution, Transport, Hotels and Restaurants recorded a decrease of 30.3% in volume terms in Q2 2020 compared with the previous quarter while Professional and Administrative Services contracted 28.2% over the period. The GDP value of Ireland represents 0.32 percent of the world economy. Ireland's Economy 2019. Modified Domestic Demand, an indicator of domestic demand that excludes the impact of trade in aircraft by aircraft leasing companies and trade in research and development (R&D) related IPP service imports, decreased by 16.4% in Q2 2020 compared to Q1 2020, driven by falls in personal consumption and domestic capital formation of 19.6% and 28.2% respectively. Personal Consumption Expenditure exhibited a year-on-year decline of 22.1% in the quarter. All other sectors exhibited year-on-year declines with Distribution, Transport, Hotels and Restaurants recording a decrease of 32.0%. 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. This is largely explained by the absence of substantial imports of Intellectual Property Products (IPP) following on from the globalisation effect in Capital Investment and Imports that took place in Q1 2020. Declines in Personal Consumption, Capital Investment and Imports, increased Govt Expenditure. Imports decreased by 37.2% year-on-year compared with Q2 2019 while Exports decreased by -0.2%. Exports decreased by 3.1% which meant that overall net exports for the quarter exhibited a surplus of â¬34,533m (a change in net exports of â¬37,820m over the net deficit of â¬3,286m in Q1 2020). The CSO has changed the approach to seasonal adjustment in this Release (see Background notes). Revised estimates for the second quarter of 2020 indicate that there was a decrease of 3.0% in GDP in real terms in Q2 2020 compared with Q2 2019. On a seasonally adjusted basis, initial estimates indicate that GDP in volume terms decreased by 6.1% for the second quarter of 2020. A potential second wave of virus cases clouds the outlook. Skehard Road, Cork T12 X00E, Ireland, Geographical Profiles of Income in Ireland, Life in 1916 Ireland: Stories from statistics, Ireland North and South - A Statistical Profile, Agriculture Price Indices - Preliminary estimates, Quarterly National Accounts Quarter 2 2020, Quarterly National Accounts Quarter 1 2020 Final, Quarterly National Accounts Quarter 1 2020 Provisional, Quarterly National Accounts Quarter 4 2019, Quarterly National Accounts and International Accounts Q2 2020 Presentation (PDF 2,583KB), Information Note - Implications of COVID-19 on the Quarterly National Accounts Q2 2020, Quarterly National Accounts Revisions Tables 1 to 4 Quarter 2 2020 (XLS 37KB), GDP and GNP (seasonally adjusted) at constant 2018 prices. While net exports increased €37,820 million in the quarter to give a surplus of €34,533m, this was offset by the falls in Personal Consumption of 19.6% and Capital Investment of 67.4% resulting in an overall decrease in real GDP in Q2 2020 of 6.1%. The calculation methods for quarterly accounts are similar to those used in the annual National Income and Expenditure. On the expenditure side of the accounts (Table 7), Capital Investment contracted by 67.4% (-â¬36.5 billion) in Q2 2020 with a commensurate decrease in Imports of 35.5% (-â¬41.4 billion) compared with the previous quarter. Government expenditure showed an increase of 7.5% over the same period. and the seasonally adjusted aggregates for GDP and GNP. System of Health Accounts 2018. Crime and Victimisation 2019. Year-on-year contractions were also recorded in Professional & Administrative Services (-28.1%), Construction (-34.6%), Agriculture (-46.9%) and Arts & Entertainment (-67.9%). While net exports increased â¬37,820 million in the quarter to give a surplus of â¬34,533m, this was offset by the falls in Personal Consumption of 19.6% and Capital Investment of 67.4% resulting in an overall decrease in real GDP in Q2 2020 of 6.1%. COVID-19 impact; Mixed results across economic sectors. Offenders 2016 - Employment, Education and Other Outcomes, Persons Receiving Pandemic Unemployment Payment, Business Impact of COVID19 Survey 27 July to 23 August, Illness Benefits: Employment and Commuting Analysis 2016-2017, Survey on Income and Living Conditions (SILC): Enforced Deprivation 2019, Social Impact of COVID-19 Survey August 2020: The Reopening of Schools, Population & Migration Estimates April 2020, Business Impact of COVID-19 Survey 29 June to 26 July, Prison Re-offending Statistics 2011- 2017, Business Impact of COVID-19 Survey 01 June to 28 June, Social Impact of COVID-19 Survey June 2020 Measuring Comfort Levels around the Easing of Restrictions, Social Impact of COVID-19 Survey June 2020: A Snapshot of Experiences and Expectations in a Pandemic, Business Impact of COVID-19 Survey 4 May to 31 May, Employment Analysis of Maternity and Paternity Benefits 2016 - 2019, Business Impact COVID-19 20 April to 3 May 2020, Impact of COVID-19 on ICT Usage by Household, Employment and Life Effects of COVID-19 April 2020, Social Impact of COVID-19 Survey April 2020, Brexit Indicators: Ireland and the UK in Numbers, Check out our new Eircode House Prices Interactive Tool, Consumer Price Index Inflation Calculator.