Ireland's GDP grows by 12.2 pct in 2022: preliminary estimate

Ireland's gross domestic product (GDP) grew by 12.2 percent to 474.96 billion euros (517.71 billion U.S. dollars) in 2022, according to a preliminary estimate announced by the country's Central Statistics Office (CSO) on Monday.

This is the third year in a row that Ireland's economy has reported positive growth despite the COVID-19 pandemic.

In 2020 the Irish economy grew by 6.2 percent year-on-year. The growth rate of the country's GDP more than doubled to 13.6 percent in 2021.

Over the last three years, the growth rate of the Irish economy has averaged nearly 11 percent, making Ireland one of the fastest growing economies in Europe.

The Irish Department of Finance had previously predicted that the country's economy will grow by 10 percent in 2022. (1 euro=1.09 U.S. dollars)