Irish economy benefitting substantially from construction sector, valued at €14.3 billion
In 2024, the construction sector in Ireland accounted for 27% of the total gross value added, with a significant portion of this coming from the construction of residential and non-residential buildings. This sector, however, was below the EU average, employing more than 6% of the total workforce, compared to the EU average of 7%.
The majority of construction workers in Ireland were Irish citizens, with 85% of the workforce being domestic in 2022. The top occupations in the sector included electricians and electrical fitters, carpenters and joiners, and various construction and building trades.
The business of 'building completion and finishing' was the third largest in the sector, accounting for 13% of the total. The construction sector's size relative to Ireland's GNI was also lower than the EU average.
The construction sector contributed €14.3 billion to the Irish economy in 2024, representing a 6% increase from 2023. The sector ranked third lowest in the European Union, ahead of Malta, Greece, Luxembourg, and Bulgaria.
In terms of earnings, construction of buildings had the highest average weekly wage of €1,041 in 2024. Most employees in the sector earned between €40,000 and €50,000 annually. Total employment in the construction sector increased by 2.8% in 2024, primarily due to growth in employment in construction of buildings.
Post financial crash, investment in dwellings in Ireland fell below the EU average, but recovered to comparable levels from 2022 onwards. In 2024, investment in dwellings stood at 5.6% of Ireland's modified gross national income (GNI), down from 6.1% in 2023. Prior to the financial crash of 2008, Ireland's investment in dwellings exceeded the EU average.
Notably, Romania was the only nationality that saw an increase in numbers engaged in construction in Ireland since 2006, while Poland saw a significant decline of 63%. However, the countries ranking in the top 3 with the most employees in the Irish construction sector alongside Ireland in the years 2006 and 2022 were not explicitly listed in the provided search results.
Despite these figures, Ireland's growth in investment from 2020 onwards significantly outpaced other comparable EU member states. In 2024, Ireland ranked sixth in investment among EU member states, behind Cyprus, Italy, and Germany. This suggests a promising future for the construction sector in Ireland.
