Ireland’s economy recorded a sharp 9.7 per cent growth during the first quarter of the year, largely fueled by a surge in exports — particularly from the pharmaceutical sector — just ahead of new tariffs introduced by the Donald Trump-led US administration.
According to the Central Statistics Office (CSO), the robust figures were influenced by a spike in exports to the United States, with pharmaceutical shipments in March playing a significant role.
“The figure for Gross Domestic Product is unusual and is very high,” noted Chris Sibley, Assistant Director General of the CSO.
Overall, total exports expanded by 9.4 per cent in the first three months of the year, with goods exports alone jumping by 14.8 per cent.
However, growth in the domestic economy was more modest. Modified Domestic Demand—which strips out the effects of multinational distortions and focuses on spending by households, government, and businesses—grew by just 0.8 per cent in the same period.