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For more information on this release:
E-mail: bop@cso.ie John Sheridan (+353) 1 498 4258 Annette Hayes (+353) 1 498 4319
For general information on CSO statistics:
information@cso.ie (+353) 21 453 5000 On-line ISSN 2009-5201
CSO statistical release, , 11am

Balance of International Payments

Quarter 2 2016

   € million
Merchandise BalanceInvisibles BalanceCurrent Account BalanceCurrent Account Balance as % of GDP
Q2 201624,667-20,0254,6437.5
Q2 201526,481-18,9347,54712.3
Q1-Q2 201651,241-37,64413,59811.0
Q1-Q2 201552,706-40,64012,0669.8

Current account surplus of €4.6bn in Quarter 2 2016

Balance of International Payments Q2 2016 Fig 1
go to full release

The Balance of Payments current account, a measure of Ireland’s financial flows with the rest of the world, had a surplus in the second quarter of 2016 of €4,643m. This is a decrease from the €7,547m surplus in the second quarter of 2015, see Table 1. A surplus of €24,667m on merchandise was offset by a deficit of €20,025m on invisibles in the quarter.

X-axis labelMerchandiseServicesPrimary IncomeSecondary IncomeBalance on Current account
Q1 20148.939-2.129-7.405-0.899-1.495
Q2 201411.286-1.562-7.936-0.6081.181
Q3 201410.985-0.063-7.796-0.5452.58
Q4 20149.521-2.373-5.513-0.6980.937
Q1 201526.225-6.119-14.691-0.8964.519
Q2 201526.481-8.257-9.956-0.7217.547
Q3 201528.898-7.64-13.813-0.5216.924
Q4 201528.964-7.341-13.455-17.167
Q1201626.574-5.826-11.132-0.6618.955
Q2201624.667-9.972-9.501-0.5524.643

Other points of note are:

Current account (see Table 2a)

  • Compared with the second quarter of 2015, merchandise exports at €45,661m were down €1,540m while merchandise imports at €20,995m were up €275m.
  • Services exports at €32,237m were up €1,685m mainly due to increased computer services exports. Service imports increased by €3,399m to €42,208m driven mainly by increases in research and development payments.
  • Investment income earned abroad of €17,649m increased by €2,815m compared with one year earlier while investment income payable to foreign investors at €27,097m increased by €2,362m.

Financial account (see Table 2b)

  • Direct investment in Ireland decreased by €17,020m in the second quarter of 2016, where an increase of €4,584m in equity and an increase of €5,785m in reinvested earnings was offset by a decrease in other capital of €27,388m. 
  • Within Portfolio investment, increased investment in Irish equity of €53,731m was offset by decreased investment in Irish Debt Instruments of €30,604m.
  • Other investment assets decreased by €23,930m in the second quarter of 2016 mainly due to a decrease in other assets of €37,426m. Other investment liabilities decreased by €7,770m in the quarter.

 QNA_BOP_Q22016_Press_Briefing_Presentation (PDF 1,681KB)

X-axis labelDirect InvestmentPortfolio InvestmentOther InvestmentReserve AssetsBalance on Financial Account
Q1 20143.678-19.85810.5160-5.664
Q2 2014-2.719-11.76719.0150.0014.531
Q3 20140.468-22.62716.7830.002-5.374
Q4 20141.604-2.411.7750.1331.103
Q1 201539.441-80.2844.4750.1083.744
Q2 20152.146.111-4.5630.3073.996
Q3 201513.711-26.91922.105-0.0248.873
Q42015-75.163-18.6599.8810.1036.171
Q1201616.22-2.979-6.220.9367.957
Q2201614.2615.157-16.16-0.2123.046
Table 1 Summary of Current, Capital and Financial Account Balances € million
Period     Balance on Current Account Balance on Capital Account Direct InvestmentPortfolio InvestmentOther2 InvestmentReserve AssetsBalance on Financial AccountNet errors and omissions
Merchandise1 Invisibles   
 ServicesPrimary IncomeSecondary IncomeTotal   
1998Year17,510-8,426-9,7761,319-16,883 627 840 -4,4228,466-7,4592,280-1,135-2,602
1999Year22,170-9,723-13,3981,177-21,944 226 560 -11,35914,342974-1,7462,2111,425
2000Year28,312-13,312-15,327994-27,645 667 1,182 -22,9575,3589,037142-8,420-10,269
2001Year31,464-12,412-17,762-1,075-31,249 215 779 -6,24125,158-19,183441175-819
2002Year36,982-13,619-21,910-1,116-36,645 337 588 -19,44437,979-19,425-343-1,233-2,158
2003Year32,954-10,903-20,035-1,303-32,241 713 445 -15,27039,977-22,751-1,770186-972
2004Year34,588-12,141-21,345-1,255-34,741 -153 355 23,095-14,287-12,170-1,177-4,539-4,741
2005Year32,184-13,655-22,786-1,769-38,210 -6,026 340 37,660-52,69815,364-1,472-1,1474,539
2006Year27,194-12,313-22,723-2,063-37,099 -9,905 299 15,841-8,135-16,635-87-9,016590
2007Year28,698-12,384-26,630-2,510-41,524 -12,826 115 -1,6217,283-20,08612-14,413-1,702
2008Year32,622-16,468-25,141-2,729-44,339 -11,716 119 23,28845,749-85,93278-16,817-5,220
2009Year38,752-15,823-27,885-2,948-46,656 -7,904 14 -245-22,62619,433-79-3,5174,373
2010Year41,288-13,421-27,178-2,701-43,300 -2,012 91 -16,318-85,96590,883-5-11,404-9,484
2011Year41,257-9,096-32,312-2,660-44,067 -2,810 234 -18,698-26,90831,086-329-14,849-12,272
2012Year36,896-6,749-32,143-2,609-41,501 -4,605 86 -18,957-83311,025-12-8,777-4,257
2013Year34,506-637-27,093-2,922-30,652 3,855 -936 -12,99645,576-26,436106,1553,236
2014Year40,731-6,127-28,650-2,750-37,527 3,203 -6,769 3,031-56,66248,089136-5,404-1,839
2015Year110,568-29,357-51,915-3,138-84,410 26,157 -1,255 -19,871-119,738161,89849422,784-2,118
                  
2009Quarter 1 9,692-4,189-7,362-960-12,512 -2,820 -3 8582,331-1,326-411,8224,646
 Quarter 210,140-3,835-7,826-748-12,410 -2,270 -1 -1,40915,776-24,67862-10,249-7,978
 Quarter 39,783-2,514-7,582-633-10,729 -946 -10 7,349-26,57021,337-32,1133,069
 Quarter 49,137-5,285-5,114-607-11,005 -1,868 28 -7,044-14,16324,100-972,7964,637
2010Quarter 1 10,235-2,824-7,978-879-11,681 -1,446 50 -4,772-19,82131,668-327,0438,439
 Quarter 210,555-3,342-8,026-590-11,957 -1,402 4 -3,2498,568-18,33819-13,001-11,602
 Quarter 311,985-2,955-7,152-704-10,811 1,174 14 1,17819,581-25,74576-4,910-6,098
 Quarter 48,513-4,300-4,022-528-8,850 -337 23 -9,475-94,293103,299-68-537-222
2011Quarter 1 10,624-2,926-8,278-841-12,046 -1,422 24 -8,453-7,06311,286-65-4,295-2,897
 Quarter 29,576-1,580-8,820-513-10,913 -1,336 1 -7,601-22,34427,15729-2,759-1,424
 Quarter 311,547-1,862-8,307-641-10,810 736 -1 -6,80219,456-16,652-24-4,022-4,757
 Quarter 49,510-2,729-6,906-664-10,299 -789 210 4,158-16,9579,295-269-3,772-3,194
2012Quarter 1 8,969-1,791-8,885-814-11,490 -2,522 61-12,78044,957-32,626-12-4612,001
 Quarter 2 9,275-2,571-8,400-603-11,574 -2,299 13,692-33,32021,0096-8,614-6,316
 Quarter 310,072-759-8,453-643-9,855 218 5-13,837-6,31517,833-1-2,319-2,542
 Quarter 48,580-1,628-6,405-549-8,582 -2 193,968-6,1554,809-52,6172,600
2013Quarter 1 7,726-533-7,213-828-8,574 -848 -207-4,3327,16562703,4604,515
 Quarter 2 9,638-545-8,170-699-9,414 225 -244-7,51912,668-5,7611-611-591
 Quarter 3 9,816646-7,157-663-7,174 2,642 -259-5738,371-5,94841,854-529
 Quarter 47,326-205-4,553-732-5,490 1,836 -226-57217,372-15,35451,452-159
2014Quarter 18,939-2,129-7,405-899-10,433 -1,495 -1,6913,678-19,85810,5160-5,664-2,479
 Quarter 211,286-1,562-7,936-608-10,106 1,181 -1,717-2,719-11,76719,01514,5315,067
 Quarter 310,985-63-7,796-545-8,404 2,580 -1,649468-22,62716,7832-5,374-6,305
 Quarter 49,521-2,373-5,513-698-8,584 937 -1,7121,604-2,4101,7751331,1031,878
2015Quarter 126,225-6,119-14,691-896-21,706 4,519 -29439,441-80,28044,4751083,744-480
 Quarter 226,481-8,257-9,956-721-18,934 7,547 -3172,1406,111-4,5633073,996-3,234
 Quarter 328,898-7,640-13,813-521-21,974 6,924 -32413,711-26,91922,105-248,8732,273
 Quarter 428,964-7,341-13,455-1,000-21,796 7,167 -320-75,163-18,65099,8811036,171-677
2016Quarter 126,574-5,826-11,132-661-17,619 8,955 -2,36816,220-2,979-6,2209367,9571,369
 Quarter 224,667-9,972-9,501-552-20,025 4,643 -1,23614,2615,157-16,160-2123,046-361
1Adjusted for balance of payments purposes.
2Includes financial derivatives and also life insurance liabilities to non-residents. Occasionally includes large capital transactions which cannot be shown in the Capital Account
 Balance due to confidentiality constraints.
Table 2a Current and Capital Accounts      € million
20142015 20152016
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2
Current Account  
Merchandise 1Exports114,461195,59246,47847,20149,39752,516 45,79645,661
Imports73,73085,02420,25320,72020,49923,552 19,22220,995
          
  of which: Merchanting (net export)Exports3,5067,727 2,3091,8821,9251,611 1,7011,527
          
ServicesExports105,327121,60527,32930,55231,18032,544 29,21132,237
Imports111,453150,96333,44938,80938,82039,885 35,03742,208
  Repairs and ProcessingExports1,2231,110 222322323243 226232
 Imports1,2551,400 325399367309 241277
  TransportExports5,1935,9368421,5492,3051,240 9751,552
Imports2,1712,489599611607672 532556
  Tourism and Travel 2Exports3,6564,3206131,2281,582897 7161,296
Imports4,8265,1219081,2541,7931,166 1,0711,350
  InsuranceExports8,72310,3002,5332,6912,5652,511 2,3632,315
Imports5,7037,0901,7651,8191,8271,679 1,9041,594
  Financial servicesExports8,97011,0422,4962,7392,8652,942 2,6062,739
Imports6,8926,9911,5901,7051,7691,927 1,6751,679
  Royalties/LicencesExports5,2426,7231,6481,7031,7211,651 1,6691,827
Imports48,28867,76515,39817,23916,68718,441 17,49217,216
  CommunicationsExports569668171169164164 159162
Imports9841,021257261242261 285255
  Computer services 3Exports49,16657,40913,10414,30113,77216,232 14,67515,483
Imports639916215231239231 196199
  Business servicesExports20,70521,9585,2995,2965,2756,088 5,4256,138
Imports40,42857,90212,32615,22415,22115,131 11,57419,017
     Research and developmentExports2,2771,758410401477470 554898
 Imports8,70419,7013,7115,2286,0024,760 2,9799,455
     Operational leasingExports9,44211,7512,8352,8882,9323,096 2,9013,002
 Imports934770149167215239 142291
     Misc. business services 4Exports8,9878,4472,0532,0071,8662,521 1,9702,238
 Imports30,79137,4328,4669,8289,00510,133 8,4529,272
  Other services n.e.s.Exports1,8822,139401552609577 397493
Imports26626666666767 6763
           
Primary IncomeInflows62,70561,66515,36915,02314,41916,854 15,87417,822
 Outflows91,353113,58130,06024,97928,23330,309 27,00627,323
  Compensation of EmployeesInflows546542135136135136 136130
Outflows703633156165163149 154155
  Investment IncomeInflows60,84059,55315,21114,83413,88915,619 15,71817,649
Outflows90,398112,63529,83224,73528,00130,067 26,78327,097
      Direct investment incomeInflows19,84915,7713,8044,5002,8454,622 4,9034,461
Outflows43,56659,70516,14411,91515,09716,549 14,24711,170
          Income on equityInflows16,64712,1402,8983,6001,9733,669 4,0103,703
Outflows38,39953,94714,75210,37313,68415,138 12,9009,813
              Dividends & distributed Inflows2,4471,277 **88293 159*
                  branch profitsOutflows13,94915,166 4,7644,1792,6803,543 7,9564,028
              Reinvested earningsInflows14,19910,863 **1,8853,376 3,851*
Outflows24,44938,781 9,9886,19411,00411,595 4,9445,785
         Income on debtInflows3,2033,631906900872953 893757
Outflows5,1675,7581,3921,5421,4131,411 1,3481,357
      Portfolio investment incomeInflows32,91236,1579,1248,4049,3839,246 9,12511,171
Outflows37,48244,43011,08810,69411,29411,354 10,89114,018
          Income on equityInflows8,99810,3242,7332,2682,9692,354 2,5644,465
 Outflows28,80235,7408,8718,5849,1279,158 8,69811,991
         Income on debtInflows23,91425,8336,3916,1366,4146,892 6,5616,705
Outflows8,6798,6902,2172,1102,1672,196 2,1922,026
      Other investment incomeInflows8,0807,6242,2821,9301,6611,751 1,6902,017
Outflows9,3528,4992,5992,1261,6102,164 1,6451,910
Other primary incomeInflows1,3181,57122543951,100 2143
Outflows25331272786993 6971
           
Secondary IncomeInflows2,9234,0101,081988977964 1,1471,064
 Outflows5,6747,1491,9771,7101,4981,964 1,8081,615
            
Current Account - TotalInflows285,414382,87390,25793,76495,974102,878 92,02896,784
Outflows282,212356,71685,73986,21789,05095,710 83,07392,142
           
Current Account Balance 3,20326,1574,5197,5476,9247,167 8,9554,643
            
Capital Account Balance -6,769-1,255-294-317-324-320 -2,368-1,236
            
Memorandum Item:    
 Government IncomeInflows128129 15621834 1220
 Outflows4,6924,397 1,1211,0801,1041,092 1,066998
1Adjusted for balance of payments purposes.
2Under the credit item, passenger fare receipts of resident carriers from foreign visitors are excluded; such receipts are included under transport credits - see Background
 Notes.
3Covers exports and imports of software that was not incorporated as part of computer hardware or physical media but separately transmitted by electronic means.
The value of sales and purchases of additional software licences is also included.
4Covers mainly advertising and inter-affiliate management charges.
Table 2b Financial Account¹      € million
2014201520152016
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2
     
Direct Investment Abroad31,231149,937 51,96924,62718,59554,74633,299-2,759
In Ireland28,200169,809 12,52822,4874,884129,91017,079-17,020
          
    EquityAbroad-2,076113,32150,58521,372-1,86443,228 25,88513,406
 In Ireland18,570116,8457,38925,56324,83359,06043,5174,584
    Reinvested EarningsAbroad14,19910,863**1,8853,376 3,851*
In Ireland24,44938,7819,9886,19411,00411,5954,9445,785
    Other CapitalAbroad19,11025,754 **18,5748,1423,563*
 In Ireland-14,81814,181 -4,850-9,271-30,95359,255-31,381-27,388
           
Portfolio InvestmentAssets158,174127,682 46,96410,7822,29867,63812,62028,284
Liabilities214,836247,421 127,2444,67229,21786,28815,59923,128
          
    EquityAssets68,73746,379 14,60922,1066,9782,686221-16,297
 Liabilities182,827186,857 106,339-8,45520,30468,66914,86753,731
     Debt InstrumentsAssets89,43881,302 32,355-11,324-4,68164,95212,39944,581
 Liabilities32,00860,563 20,90513,1278,91217,619732-30,604
        Bonds and notes Assets21,66765,2775,30313,80514,35631,81315,02837,795
 Liabilities31,29956,85520,44413,3886,26416,759584-30,088
        Money market instruments Assets67,77116,02527,052-25,129-19,03733,139-2,6296,786
 Liabilities7093,707 461-2622,648860148-516
           
Other InvestmentAssets82,08887,335 52,171-20,780-34,77790,721-18,832-23,930
Liabilities33,999-74,564 7,696-16,218-56,882-9,160-12,612-7,770
          
     Loans, currency and depositsAssets41,34572,098 33,837-11,05591548,401-2,83513,496
 Liabilities-3,165-30,455 -26,505-8,354-17,82322,22710,562708
     Other 2Assets40,74115,237 18,334-9,725-35,69242,320-15,997-37,426
 Liabilities37,165-44,108 34,202-7,864-39,059-31,387-23,174-8,477
           
Reserve Assets 136494 108307-24103936-212
          
     Monetary gold 01 000100
     Special drawing rights 02 100100
     Reserve position in the IMF -11 1000687-7
     Foreign exchange  00 1-11-102
     Other 137490 105308-25102249-207
           
Balance on Financial Account -5,40422,784 3,7443,9968,8736,1717,9573,046
            
Net errors and omissions -1,839-2,118 -480-3,2342,273-677 1,369-361
Memorandum Item:         
Government financialAssets-6,528-1,642 -763-685-114-80 -822-100
  transactionsLiabilities2,421-619 7441,35610-2,729 2,787-7,516
1Financial account transactions are categorised under two headings 'Assets' and 'Liabilities' for Portfolio Investment, Other Investment and Reserve Assets. For Direct
 Investment, a 'directional ' categorisation is used: 'Abroad' indicates direct investment by Irish investors in foreign companies; Direct investment into Ireland is indicated by
 the heading 'In Ireland'.
2Includes financial derivatives; in the case of liabilities this category also includes life insurance liabilities to non-residents. Occasionally includes large capital transactions
 which cannot be shown in the Capital Account Balance due to confidentiality constraints.
Table 3 Current, Capital and Financial Accounts showing IFSC¹ and Non–IFSC activity   € million
 20142015 20152016
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2
Current Account - TotalInflows285,414382,87390,25793,76495,974102,87892,02896,784
 Outflows282,212356,71685,73986,21789,05095,71083,07392,142
          
Merchandise 2Exports114,461195,59246,47847,20149,39752,51645,79645,661
Imports73,73085,02420,25320,72020,49923,55219,22220,995
         
ServicesExports105,327121,60527,32930,55231,18032,54429,21132,237
Imports111,453150,96333,44938,80938,82039,88535,03742,208
         
        IFSCExports27,58732,7457,6818,3088,2168,540 7,9148,202
 Imports15,51617,2784,0834,3464,5334,316 4,1724,100
        Non-IFSCExports77,74088,86019,64822,24422,96424,00421,29724,035
Imports95,937133,68529,36634,46334,28735,56930,86538,108
         
Primary IncomeInflows62,70561,66515,36915,02314,41916,85415,87417,822
Outflows91,353113,58130,06024,97928,23330,30927,00627,323
         
        IFSCInflows43,34546,82212,18710,94611,70311,986 11,76714,073
 Outflows47,55951,72713,66411,96213,34812,753 12,77715,130
        Non-IFSCInflows19,36014,8433,1824,0772,7164,8684,1063,749
Outflows43,79461,85416,39613,01714,88517,55614,23012,193
         
Secondary IncomeInflows2,9234,0101,0819889779641,1471,064
Outflows5,6747,1491,9771,7101,4981,9641,8081,615
         
        IFSC 3Inflows2,4283,234815816818785952885
 Outflows2,4283,234815816818785952885
        Non-IFSCInflows496774266172158178195179
 Outflows3,2473,9121,1628936791,178856731
          
Balance on Current Account 3,20326,1574,5197,5476,9247,1678,9554,643
          
Balance on Capital Account -6,769-1,255-294-317-324-320-2,368-1,236
          
Financial Account 4          
Direct investmentAbroad31,231149,93751,96924,62718,59554,74633,299-2,759
 In Ireland28,200169,80912,52822,4874,884129,91017,079-17,020
          
        IFSCAbroad-2,95652,5921,8443,774-22747,20114,422110
 In Ireland7,22970,5995,0756,625-15,41774,31619,671-16,927
        Non-IFSCAbroad34,18697,34550,12520,85318,8227,54518,878-2,869
 In Ireland20,97099,2107,45315,86220,30155,594-2,591-93
          
Portfolio investmentAssets158,174127,68246,96410,7822,29867,63812,62028,284
 Liabilities214,836247,421127,2444,67229,21786,28815,59923,128
          
        IFSCAssets151,076131,71147,35211,1417,14066,07811,95826,851
 Liabilities184,061200,97480,35318528,96191,4751,38132,193
        Non-IFSCAssets7,097-4,029-388-359-4,8421,5606621,433
 Liabilities30,77446,44546,8914,486255-5,18714,218-9,065
          
Other investment 5Assets82,08887,33552,171-20,780-34,77790,721-18,832-23,930
 Liabilities33,999-74,5647,696-16,218-56,882-9,160-12,612-7,770
          
        IFSCAssets89,84350,91447,941-20,848-26,36150,182-9,412-23,568
 Liabilities76,765-31,82718,617-12,359-36,899-1,186-8,747-10,995
        Non-IFSCAssets-7,75636,4214,23068-8,41640,539-9,419-362
 Liabilities-42,768-42,737-10,921-3,858-19,984-7,974-3,8653,225
          
Reserve Assets 136494108307-24103936-212
          
Balance on Financial Account -5,40422,784 3,7443,9968,8736,171 7,9573,046
Net errors and omissions -1,839-2,118 -480-3,2342,273-677 1,369-361
1From the start of 2000 new international financial service projects are no longer subject to the earlier certification and licensing procedures in operation for location
 in the IFSC and such projects can, therefore, locate anywhere in Ireland. Additions to existing IFSC projects, however, are still subject to the formal procedures.
 For statistical analysis purposes this table still shows the 'IFSC/non-IFSC' breakdown and the activities of all international financial service enterprises
 are covered under the IFSC heading.
2Adjusted for balance of payments purposes.
3Secondary income flows to and from IFSC enterprises relate solely to non-life insurance transactions (see Background Notes).
4See footnote 1 on Table 2b.
5Includes financial derivatives; in the case of liabilities this category also includes life insurance liabilities to non-residents. Occasionally includes large capital
 transactions which cannot be shown in the Capital Account Balance due to confidentiality constraints.
Table 4a Current and Capital Accounts showing geographical¹ detail    € million
 20142015 20152016
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2
     
Current Account - TotalInflows285,414382,873 90,25793,76495,974102,87892,02896,784
 Outflows282,212356,716 85,73986,21789,05095,71083,07392,142
           
  Merchandise 2Exports114,461195,59246,47847,20149,39752,51645,79645,661
 Imports73,73085,02420,25320,72020,49923,55219,22220,995
      EMUExports41,56967,45015,64816,61717,20117,98415,96614,531
 Imports23,08827,4336,3766,6166,2828,1596,5397,298
      Non-EMUExports72,892128,14230,83030,58432,19634,53229,83031,131
 Imports50,64157,59213,87714,10414,21715,39412,68313,696
       EU Exports63,333101,62423,76624,72825,99827,13223,71222,106
 Imports50,74757,35413,50913,96213,60916,27413,48914,506
      Non-EU Exports51,12793,96822,71222,47323,39925,38422,08323,556
Imports22,98227,6726,7456,7586,8917,2785,7326,488
          
  ServicesExports105,327121,60527,32930,55231,18032,54429,21132,237
 Imports111,453150,96333,44938,80938,82039,88535,03742,208
      EMUExports32,83435,6478,4229,0128,9919,2227,9708,738
 Imports34,34039,8308,79210,6009,94810,4908,9379,952
      Non-EMUExports72,49285,95918,90721,54022,19023,32221,24223,499
 Imports77,113111,13224,65628,20928,87229,39526,10032,256
       EU Exports58,16965,64114,49216,64817,30717,19415,03616,405
 Imports47,82953,65512,25413,81013,51014,08112,20612,938
      Non-EU Exports47,15755,96412,83713,90413,87315,35014,17515,832
Imports63,62397,30721,19424,99925,31025,80422,83129,271
           
Primary IncomeInflows62,70561,66515,36915,02314,41916,85415,87417,822
 Outflows91,353113,58130,06024,97928,23330,30927,00627,323
      EMUInflows23,17424,0916,8036,3554,7006,2337,2626,079
 Outflows33,09938,8309,6349,4649,9539,7799,4329,427
      Non-EMUInflows39,53137,5748,5668,6689,71910,6218,61311,743
 Outflows58,25674,75020,42615,51518,27920,53017,57417,896
       EU Inflows37,09139,71510,3339,7658,59111,02610,87210,158
 Outflows53,04261,40315,78414,65115,91715,05115,30616,480
      Non-EU Inflows25,61321,9505,0365,2585,8285,8285,0027,665
 Outflows38,31252,17814,27610,32812,31615,25811,70010,844
           
Secondary IncomeInflows2,9234,0101,0819889779641,1471,064
 Outflows5,6747,1491,9771,7101,4981,9641,8081,615
      EMUInflows1,0351,295336366321272353373
 Outflows1,2101,475382406361326386459
      Non-EMUInflows1,8882,714745622656691793691
 Outflows4,4655,6721,5951,3041,1361,6371,4221,157
       EU Inflows2,0753,040801818769652912830
 Outflows4,2485,6041,5901,3511,1681,4951,4741,328
      Non-EU Inflows849970280171207312234234
 Outflows1,4261,545388359330468334287
           
Balance on Current Account 3,20326,1574,5197,5476,9247,1678,9554,643
           
Balance on Capital Account -6,769-1,255-294-317-324-320-2,368-1,236
           
1The term ‘EMU’ means the area represented by the 19 Member States participating in Monetary Union since the enlargement of the Euro area on 1 January 2015 to
include Lithuania. The term ‘EU’ relates to transactions between residents of Ireland and other residents of the EU28 area. All data shown on this table relates to
EMU19 and EU28.
2Adjusted for balance of payments purposes
Table 4b Financial Account¹ showing geographical² detail    € million
  20142015 20152016
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2
    
Direct InvestmentAbroad31,231149,93751,96924,62718,59554,74633,299-2,759
 In Ireland28,200169,80912,52822,4874,884129,91017,079-17,020
          
      EMUAbroad40,75561,46148,0157,9343,5541,95813,828-6,418
 In Ireland15,77940,537-1,740-96214,29728,942-5,473-5,882
      Non-EMUAbroad-9,52488,4773,95516,69315,04152,78819,4713,659
 In Ireland12,420129,27214,26823,449-9,413100,96822,552-11,138
       EU Abroad40,07563,24146,5897,4692,4556,72820,872-6,408
 In Ireland13,14837,2662,5812,43116,25416,000-34,6861,441
      Non-EU Abroad-8,84286,6965,38017,15816,14048,01812,4273,649
 In Ireland15,052132,5429,94720,056-11,370113,90951,766-18,461
          
Portfolio InvestmentAssets158,174127,68246,96410,7822,29867,63812,62028,284
 Liabilities214,836247,421127,2444,67229,21786,28815,59923,128
          
      EMUAssets37,44834,75426,797-2,088-4,96415,009-466-3,805
 Liabilities84,994101,69930,40319,15716,31435,82510,916-3,008
      Non-EMUAssets120,72892,92720,16712,8707,26152,62913,08632,090
 Liabilities129,842145,72296,841-14,48512,90350,4634,68326,136
       EU Assets77,06562,47335,105-8,118-3,74039,2261,2225,277
 Liabilities165,405169,11578,004-4,9609,58286,4899,86211,991
      Non-EU Assets81,10965,21011,85918,9016,03828,41211,39823,008
 Liabilities49,42978,30649,2409,63219,635-2015,73711,137
           
Other Investment 3Assets82,08887,33552,171-20,780-34,77790,721-18,832-23,930
 Liabilities33,999-74,5647,696-16,218-56,882-9,160-12,612-7,770
          
      EMUAssets44,89069,88325,98621020,34223,345-5,473-12,054
 Liabilities-8,911-8,8554,268-11,549-1,179-395-5,41011,407
      Non-EMUAssets37,19817,45126,185-20,990-55,12067,376-13,359-11,876
 Liabilities42,910-65,7083,428-4,668-55,703-8,765-7,201-19,177
       EU Assets47,72036,70619,893-5,517-7,66729,9977,27933,585
 Liabilities15,012-38,36210,836-16,287-28,250-4,6614,81215,888
      Non-EU Assets34,36750,62832,278-15,263-27,11160,724-26,111-57,515
 Liabilities18,988-36,203-3,14069-28,633-4,499-17,424-23,658
         
Reserve Assets 136494108307-24103936-212
          
Balance on Financial Account -5,40422,7843,7443,9968,8736,1717,9573,046
            
Net errors and omissions -1,839-2,118 -480-3,2342,273-677 1,369-361
1See footnote 1 on Table 2b.
2The term ‘EMU’ means the area represented by the 19 Member States participating in Monetary Union since the enlargement of the Euro area on 1 January 2015
 to include Lithuania. The term ‘EU’ relates to transactions between residents of Ireland and other residents of the EU28 area. All data shown on this table relates to
 EMU19 and EU28.
3Includes financial derivatives; in the case of liabilities this category also includes life insurance liabilities to non-residents. Occasionally includes large
 capital transactions which cannot be shown in the Capital Account Balance due to confidentiality constraints.

Background Notes

Definition 

The balance of payments (BOP) is a statistical statement that summarises, for a specific time period, the economic transactions of the residents of an economy with the rest of the world. 

The balance of payments presentation consists of three tables or accounts, the Current Account, the Capital Account and the Financial Account. The current account consists of trade in merchandise and services, as well as primary and secondary income account inflows and outflows. The capital account covers capital transfers and the acquisition and disposal of non-produced, non-financial assets. The financial account is concerned with transactions in foreign financial assets and liabilities, distinguishing the functional type of investment i.e. direct, portfolio and other investment (including transactions in financial derivatives) and reserve assets. 

BOP transactions, in principle, should be recorded on an accruals basis using market valuation. In practice, the collection system (see below) is designed to adhere to this approach and, for the most part, the valuations reported are either market values or a close approximation.

For more detailed methodological information see Methodology Documents.BOP Quarterly Statistical Compilation Methodology (PDF 239KB)

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