Gross Domestic product rose 6 per cent between 2006 and 2007, according to new figures from the Central Statistics Office.
Personal spending and disposable income rose during the year, with the latter rising at a slower rate than in previous years, the National Income and Expenditure 2007 report showed today.
The growth in Gross National Product was 4.1 per cent.
The data showed that personal spending rose by 9.4 per cent, while Government expenditure grew 10.1 per cent for the year. Factoring in rising prices, the real increase in personal spending was 6.3 per cent, higher than the previous year's figure of 5.7 per cent, while Government spending actually rose 6 per cent during 2007.
Disposable income was also on the rise during the year, increasing 5.2 per cent, lower than the 9.3 per cent seen between 2005 and 2006.
Agricultural incomes rose during 2007, growing 12.1 per cent, compared to a fall of 5.9 per cent a year earlier, while non-agricultural incomes were up 9.1 per cent last year.
Meanwhile, the rate of growth in investment in construction and captial equipment slowed a little, rising 5.3 per cent in value terms compared to 9.4 per cent a year earlier.
The volume of good imported into the country also climbed 4.1 per cent, while the value of imports rose 6.8 per cent. The value of exports, meanwhile, also increased, rising 6.9 per cent and representing a 6.8 per cent growth in volume for the year.
The current account deficit in 2007 widened to €10,302 million, compared to €6,304 million a year earlier.