That's according to new data from the CSO.
Households saved over €10 billion in the first quarter of the year.
That's more than four times the usual amount saved in that period, according to the CSO.
It represents a savings ratio of 31 per cent.
Covid 19 restrictions after Christmas severely limited opportunities to spend.
The CSO says uncertainty around the pandemic may also have resulted in 'precautionary savings', as households kept money back.
Household saving ratio 31% in first quarter of 2021https://t.co/KIRyGP3kOW #CSOIreland #Ireland #NationalAccounts #BalanceofPayments #Economy #Economics #Macroeconomics #EconomicIndicators #CapitalStocks #FixedAssets #GovernmentFinances #GovernmentAccounts pic.twitter.com/47N8a42fso
— Central Statistics Office Ireland (@CSOIreland) July 23, 2021
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