Ireland’s economy grew by 4.8pc in 2014
Ireland’s GDP grew by 4.8pc in 2014, according to preliminary figures released today by the Central Statistics Office (CSO).
The CSO also said that GNP increased for the third successive year, growing by 5.2pc over 2013.
The figures show that capital formation rose by 11.3pc during 2014. Personal consumption, which accounts for approximately 60pc of domestic demand, was up by 1.1pc, while Government expenditure increased by just 0.1pc.
Imports during the year increased by13.2pc, while exports were up by 12.6pc. Overall net exports for the year increased by €3,785m, which together with the 3.6pc increase in total domestic demand, resulted in the overall 4.8pc increase in real GDP.
GDP in the fourth quarter of 2014 was up by 0.2pc compared with Q3, while GNP rose by 2.3pc over the same period.
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