Economic growth, including the contribution from multinationals or Gross Domestic Product, soared by 9.7% in the first three months of this year as exports to the US ramped up ahead of tariffs being imposed by the Trump administration.
The figures were affected by strong exports from the pharmaceutical sector in Ireland particularly in March.
“The figure for Gross Domestic Product is unusual and is very high,” said Chris Sibley assistant Director General of the Central Statistics Office.
The CSO said total exports expanded by 9.4% in the first three months of year with growth in goods exports of 14.8%.
However, growth in the domestic economy was more subdued.
Modified Domestic Demand, which includes personal, government and investment spending grew by 0.8% in the first three months of the year.
Personal spending on goods and services, a key measure of domestic economic activity, grew by 0.6% while wages grew by 0.9% in the first three months of this year.
Article Source – Economic growth rises by 9.7% in first quarter of 2025 – RTE