Documents to download

GDP can be analysed in terms of the output produced of different industries of the economy and by expenditure on goods and services made by households, businesses and the government.

GDP increased by 0.1% in July 2021 and was 2.1% below the pre-pandemic level of February 2020.  

GDP by Industry

Services are the largest part of the economy – in 2019, they accounted for 79% of output, production for 13%, construction for 7% and agriculture for 1%. 

Service sector output was flat in July 2021 (0.0% growth).  It is 2.1% lower than it was in February 2020.

Manufacturing output was flat in July (0.0% growth), and is down 2.3% on February 2020. Manufacturing is part of the wider production sector; production sector output grew by 1.2% in July, and is 2.1% lower than it was in February 2020.

Construction sector output was down 1.6% in July, and is down 1.8% compared with February 2020.

Service sector monthly growth

GDP by Expenditure

Household consumption is the largest element of expenditure across the economy, accounting for 58% of the total in 2020.

In Apr-Jun 2021, household consumption was up 7.3% on the quarter, and was 7.0% below Oct-Dec 2019.  

Government consumption was up 6.1% on the quarter and investment (GFCF) was down 0.5%.  Exports were up 3.0% and imports were up 6.5%.

Household spending index and quarterly growth

GDP by expenditure table


Documents to download

Related posts