Construction drives €14 billion boost with growth in skilled trades in Ireland

Ireland’s construction sector added more than €14 billion to the economy in 2024, marking a 6% rise from the previous year. Electrical, plumbing, and installation activities dominated, accounting for 28% of total Gross Value Added, with residential and non-residential building following closely at 27%.

Despite this growth, investment in dwellings dropped to 5.6% of Ireland’s Modified Gross National Income, down from 6.1% in 2023. Relative to the domestic economy, construction represented 4.5% of GNI, placing Ireland third lowest in the EU, ahead of Malta and Greece but on par with Luxembourg and Bulgaria.

Employment in the sector increased by 2.8%, driven largely by construction of buildings. Electricians, carpenters, and construction trades were the top occupations, reflecting a continued demand for skilled labour. Over 6% of Ireland’s workforce was employed in construction, still below the EU average of 7%, indicating both a competitive labour market and potential for workforce expansion.

The data underlines a dual narrative: strong overall economic contribution paired with underperformance relative to EU peers, particularly in dwelling investment and sector size. Opportunities may exist in leveraging skilled trades and targeted investment to capture broader market growth and boost Ireland’s standing within the EU construction landscape.

For deeper insights into construction’s role in Ireland’s economy, read the full article.