{"id":19938,"date":"2025-12-17T02:32:26","date_gmt":"2025-12-17T02:32:26","guid":{"rendered":"https:\/\/lotayamedia.xyz\/?page_id=19938"},"modified":"2025-12-17T02:32:26","modified_gmt":"2025-12-17T02:32:26","slug":"irelands-gdp-grows-3-2-in-q1-2024-as-multinationals-ramp-up-production-ahead-of-us-tariffs","status":"publish","type":"page","link":"https:\/\/lotayamedia.xyz\/?page_id=19938","title":{"rendered":"Ireland\u2019s GDP Grows 3.2% in Q1 2024 as Multinationals Ramp Up Production Ahead of US Tariffs"},"content":{"rendered":"<div class=\"offcanvas\">\n<div class=\"offcanvas-header cs-bg-navbar-dark\"><\/div>\n<aside class=\"offcanvas-sidebar\">\n<div class=\"offcanvas-inner\">\n<p class=\"ds-markdown-paragraph\">Ireland\u2019s economy expanded by\u00a0<strong>3.2% in Q1 2024<\/strong>, driven largely by\u00a0<strong>multinational corporations (MNCs) accelerating production<\/strong>\u00a0before the implementation of\u00a0<strong>new US tariffs<\/strong>, according to the\u00a0<strong>Central Statistics Office (CSO)<\/strong>. While the\u00a0<strong>multinational sector fueled growth<\/strong>, the\u00a0<strong>domestic economy<\/strong>\u00a0saw more modest gains.<\/p>\n<h3><strong>Key Economic Highlights<\/strong><\/h3>\n<ul>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Annual GDP growth surged to 13.3%<\/strong>\u00a0compared to Q1 2023.<\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Quarterly growth slowed slightly<\/strong>\u00a0from 4.1% in Q3 2023 and 3.6% in Q4 2023.<\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Previous contractions reversed<\/strong>, with GDP shrinking as much as\u00a0<strong>9.1% year-on-year in Q4 2023<\/strong>\u00a0due to multinational sector volatility.<\/p>\n<\/li>\n<\/ul>\n<h3><strong>Impact of US Tariffs on Irish Exports<\/strong><\/h3>\n<p class=\"ds-markdown-paragraph\">The strong\u00a0<strong>GDP growth in Q1<\/strong>\u00a0coincides with a\u00a0<strong>210.5% surge in Irish exports to the US<\/strong>\u00a0(reaching\u00a0<strong>\u20ac8.7 billion in February<\/strong>) as businesses prepared for\u00a0<strong>new US trade restrictions<\/strong>. Recently,\u00a0<strong>President Donald Trump imposed a 20% tariff on all EU goods<\/strong>, following earlier\u00a0<strong>25% tariffs on automobiles and auto parts<\/strong>. The measures were\u00a0<strong>postponed for 90 days<\/strong>, giving firms a brief reprieve.<\/p>\n<h3><strong>Data Sources and Future Revisions<\/strong><\/h3>\n<p class=\"ds-markdown-paragraph\">Enda Behan, a CSO statistician, noted that these\u00a0<strong>preliminary GDP estimates<\/strong>\u00a0rely on\u00a0<strong>forecasting and limited data<\/strong>, including:<\/p>\n<ul>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>CSO Large Cases Unit<\/strong><\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Retail sales figures<\/strong><\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Administrative payroll data<\/strong><br \/>\nMore comprehensive figures will be released in the\u00a0<strong>Quarterly National Accounts in June<\/strong>.<\/p>\n<\/li>\n<\/ul>\n<h3><strong>Economic Outlook for 2024-2025<\/strong><\/h3>\n<p class=\"ds-markdown-paragraph\">Business group\u00a0<strong>Ibec<\/strong>\u00a0previously projected\u00a0<strong>1.7% GDP growth in 2024 and 2.1% in 2025<\/strong>, suggesting a potential\u00a0<strong>slowdown<\/strong>\u00a0after the Q1 surge. However,\u00a0<strong>multinational activity<\/strong>\u00a0remains a key driver of Ireland\u2019s economic performance.<\/p>\n<h3><strong>Conclusion<\/strong><\/h3>\n<p class=\"ds-markdown-paragraph\">Ireland\u2019s\u00a0<strong>Q1 2024 GDP growth reflects strong multinational sector activity<\/strong>, partly influenced by\u00a0<strong>anticipation of US tariffs<\/strong>. While the\u00a0<strong>domestic economy grows at a slower pace<\/strong>, export-driven industries continue to shape Ireland\u2019s economic trajectory. Further updates will be provided in the\u00a0<strong>CSO\u2019s June report<\/strong>.<\/p>\n<p class=\"ds-markdown-paragraph\"><strong>SEO Keywords:<\/strong><\/p>\n<ul>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Ireland GDP growth 2024<\/strong><\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Multinational corporations Ireland<\/strong><\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>US tariffs impact on Irish exports<\/strong><\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Q1 2024 economic performance<\/strong><\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Central Statistics Office (CSO) report<\/strong><\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Irish economy trends<\/strong><\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>EU-US trade relations<\/strong><\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Ibec economic forecast<\/strong><\/p>\n<\/li>\n<\/ul>\n<p class=\"ds-markdown-paragraph\">This version ensures\u00a0<strong>SEO optimization<\/strong>\u00a0while maintaining\u00a0<strong>clarity and readability<\/strong>\u00a0for a broad audience. Let me know if you&#8217;d like any refinements!<\/p>\n<\/div>\n<\/aside>\n<\/div>\n<div id=\"page\" class=\"site\">\n<div class=\"site-inner\">\n<div class=\"site-content sidebar-enabled sidebar-right post-sidebar-disabled\">\n<div class=\"cs-container\">\n<div id=\"content\" class=\"main-content\">\n<div id=\"primary\" class=\"content-area\"><main id=\"main\" class=\"site-main\"><\/p>\n<article id=\"post-36493\" class=\"entry post-36493 page type-page status-publish\">\n<div class=\"entry-content-wrap\">\n<div class=\"entry-content\">\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-36393\" src=\"https:\/\/phuket-times.com\/wp-content\/uploads\/2025\/12\/456252167_1908326822926892_7018496103096252099_n-7-1-768x256-2-2-1-3.jpg\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/phuket-times.com\/wp-content\/uploads\/2025\/12\/456252167_1908326822926892_7018496103096252099_n-7-1-768x256-2-2-1-3.jpg 768w, https:\/\/phuket-times.com\/wp-content\/uploads\/2025\/12\/456252167_1908326822926892_7018496103096252099_n-7-1-768x256-2-2-1-3-300x100.jpg 300w\" alt=\"\" width=\"768\" height=\"256\" \/><\/p>\n<div class=\"code-block code-block-3\">\n<div data-type=\"_mgwidget\" data-widget-id=\"1881996\" data-uid=\"12303\">\n<div id=\"mgw1881996_12303\"><\/div>\n<\/div>\n<\/div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-36494\" src=\"https:\/\/phuket-times.com\/wp-content\/uploads\/2025\/12\/Screenshot_2025-12-16-17-31-13-38.png\" sizes=\"auto, (max-width: 1078px) 100vw, 1078px\" srcset=\"https:\/\/phuket-times.com\/wp-content\/uploads\/2025\/12\/Screenshot_2025-12-16-17-31-13-38.png 1078w, https:\/\/phuket-times.com\/wp-content\/uploads\/2025\/12\/Screenshot_2025-12-16-17-31-13-38-226x300.png 226w, https:\/\/phuket-times.com\/wp-content\/uploads\/2025\/12\/Screenshot_2025-12-16-17-31-13-38-773x1024.png 773w, https:\/\/phuket-times.com\/wp-content\/uploads\/2025\/12\/Screenshot_2025-12-16-17-31-13-38-768x1017.png 768w, https:\/\/phuket-times.com\/wp-content\/uploads\/2025\/12\/Screenshot_2025-12-16-17-31-13-38-800x1060.png 800w\" alt=\"\" width=\"1078\" height=\"1428\" \/><\/p>\n<p><a href=\"https:\/\/codesupply.co\/\">.<\/a><\/p>\n<\/div>\n<\/div>\n<\/article>\n<p><\/main><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"code-block code-block-1 ai-center-h\">\n<div id=\"div-gpt-ad-1764867431145-0\" data-google-query-id=\"CK3UyvLJw5EDFXaZ2AUdKbsg8g\">\n<div id=\"google_ads_iframe_\/22861800949\/5444311111_0__container__\"><iframe id=\"google_ads_iframe_\/22861800949\/5444311111_0\" tabindex=\"0\" title=\"3rd party ad content\" name=\"google_ads_iframe_\/22861800949\/5444311111_0\" width=\"320\" height=\"100\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" aria-label=\"Advertisement\" data-load-complete=\"true\" data-google-container-id=\"7\"><\/iframe><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ireland\u2019s economy expanded by\u00a03.2% in Q1 2024, driven largely by\u00a0multinational corporations (MNCs) accelerating production\u00a0before the implementation of\u00a0new US tariffs, according &#8230;<\/p>\n","protected":false},"author":1,"featured_media":19887,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"rank_math_title":"","rank_math_description":"","rank_math_focus_keyword":"","rank_math_keywords":"","footnotes":""},"class_list":["post-19938","page","type-page","status-publish","has-post-thumbnail","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/pages\/19938","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19938"}],"version-history":[{"count":1,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/pages\/19938\/revisions"}],"predecessor-version":[{"id":19939,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/pages\/19938\/revisions\/19939"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/media\/19887"}],"wp:attachment":[{"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}