CSO - Central Statistics Office Ireland

19/08/2024 | Press release | Distributed by Public on 19/08/2024 09:04

Business in Ireland 2022 – Summary Results

Total turnover of €1,288.7 billion in the Structural Business Economy in 2022

CSO statistical publication, 19 August 2024, 11am

Advisory Note

Under European Business Statistics (EBS) Regulation 2019/2152, the Sectors covered in Structural Business Statistics and Business Demography are now common as part of an EU-wide initiative to improve data processing and enhance coherency across a range of enterprise statistical products. This release provides data on NACE sectors B to S (excluding O and S94).

Further releases under the 'Business in Ireland' title are planned providing additional data and insights into the composition and constitution of enterprises across the economy.

Key Findings

  • In 2022, the Structural Business Economy in Ireland generated a total turnover of €1,288.7 billion.

  • Gross Value Added (GVA) for the Structural Business Economy was €424.2 billion.

  • The number of enterprises in the Structural Business Economy was 389,654 with 2,292,598 persons employed.

  • In 2022, the Services sector had the largest share of enterprises (62%), persons employed (61%), and 47% for both turnover and GVA.

  • Industry had the lowest share of enterprises (6%) in 2022 while it made up the second largest share of GVA (42%) and turnover (33%). It represented 13% of persons employed.

  • Distribution accounted for 18% of persons employed and 17% of all turnover in 2022.

  • In 2022, Construction accounted for 20% of enterprises and 9% of persons employed.

  • Small and medium enterprises (SMEs) (<250 persons employed) accounted for more than 43% of turnover and almost 41% of GVA in 2022.

Statistician's Comment

The Central Statistics Office (CSO) has today (19 August 2024) released Business in Ireland 2022 - Summary Results.

This release covers the calendar year 2022 and provides summary details of surveys in the Structural Business Economy i.e. Census of Industrial Production, Annual Services Inquiry, and Building & Construction Inquiry as well as Business Demography, derived from administrative sources. Further releases on Business in Ireland will be published later this year relating to topics on Multinationals, Business Demography, Business Performance, and Business Costs.

Commenting on the release, Eoghan Gethings, Statistician in the Enterprise Statistics Division, said: "In 2022, the Structural Business Economy in Ireland generated a total turnover of €1,288.7 billion and Gross Value Added (GVA) of €424.2 billion.

Industry

In 2022, Industrial enterprises accounted for 5.5% (21,451) of all enterprises (389,654) in the Structural Business Economy. These enterprises generated more than 42% of total GVA, when measured at factor cost, and more than 33% of total turnover. This dominance in GVA and turnover was driven by Manufacturing where GVA of €175.9 billion accounted for 41.5% of all GVA (€424.2 billion) and turnover of €405.2 billion, which accounted for more than 31% of total turnover (€1,288.7 billion).

Distribution and Services

More than three-quarters (1,803,984) of all persons employed in the Structural Business Economy in 2022 were in Services (61%) and Distribution (18%). More than six in ten (62%) of all enterprises were in the Services sector while Distribution accounted for a further 13% of enterprises.

Turnover in the Services sector accounted for 46.5% (€598.9 billion) of the total turnover (€1,288.7 billion). This was largely driven by the Information & Communication sector at €305.6 billion (24%) of total turnover.

GVA in the Services sector in 2022 accounted for 47% of the total GVA (€424.2 billion), again driven by the Information & Communication sector with GVA at €82.0 billion, representing more than 19% of total GVA in the Structural Business Economy.

The Distribution sector generated almost 17% of total turnover and more than 7% of total GVA in the business economy in 2022.

Construction

In 2022, Construction enterprises generated less than 4% of total turnover and almost 3% of total GVA in the Structural Business Economy. Looking at the 17 detailed business sectors, while Construction accounted for the largest number of active enterprises (77,676) in 2022, it was only the fifth largest sector in terms of employment with a total of 198,109 persons employed.

Small and Medium Enterprises

Small and medium enterprises (SMEs) (<250 persons employed) accounted for 99.8% of all enterprises and 68% of persons employed in 2022. More than two-fifths (43%) of total turnover and 41% of (GVA) was attributed to these enterprises. In comparison, large enterprises (250+ persons employed) accounted for just 0.2% of all enterprises and 32% of persons employed but generated 57% of total turnover and 59% of total GVA in 2022."