It is the country’s best year for economic growth since 2007, when expansion in the Celtic Tiger was 4.9 per cent.
However, growth slowed in the final three months of the year. Three-month on three-month growth slowed to 0.2 per cent in the final three months of 2014.
In the three months to September, the economy grew by 0.4 per cent while in the previous three months it grew by 1.2 per cent.
The figures will be a boost to the government which faces an election this year.