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E-mail: bop@cso.ie John Sheridan (+353) 1 498 4258 Annette Hayes (+353) 1 498 4319
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CSO statistical release, 10 December 2015, 11am

Balance of International Payments

Quarter 3 2015

   € million
Merchandise BalanceInvisibles BalanceCurrent Account BalanceCurrent Account Balance as % of GDP
Q3 201517,587-15,1422,4464.5
Q3 201411,431-8,3063,1256.4
Q1-Q3 201548,841-42,0686,7754.3
Q1-Q3 201431,797-27,4064,3913.1

Current account surplus of €2.4bn in 3rd Quarter

Balance of International Payments Q3 2015 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 third quarter of 2015 of €2,446m. This is a decrease from the €3,125m surplus in the third quarter of 2014, see Table 1. A surplus of €17,587m on merchandise was offset by a deficit of €15,142m on invisibles (services and income) in the quarter. 

X-axis labelMerchandiseServicesPrimary IncomeSecondary IncomeBalance on Current account
Q2 20139.79-0.531-7.848-0.6990.712
Q3 20139.9780.748-6.864-0.6633.198
Q4 20137.439-0.074-4.539-0.7322.095
Q1 20149.118-1.695-7.141-0.895-0.613
Q2 201411.248-1.839-6.926-0.6041.879
Q3 201411.431-0.574-7.191-0.5413.125
Q4 201410.5-3.518-3.845-0.6952.442
Q1 201514.15-3.876-7.804-0.8461.625
Q2 201517.104-5.195-8.539-0.6662.704
Q3 201517.587-5.234-9.512-0.3962.446

Other points of note are:

Current account (see Table 2a)

  • Compared with the third quarter of 2014, merchandise exports at €36,437m were up €7,379m while merchandise imports at €18,849m were up €1,222m.
  • Services exports at €30,225m were up €3,872m mainly due to increased computer services exports. Service imports increased by €8,532m to €35,459m driven by increases in both royalties/licences payments and research and development payments.
  • Investment income earned abroad of €15,966m decreased by €300m compared with one year earlier while investment income payable to foreign investors at €25,771m increased by €2,381m.

Financial account (see Tables 2b and 3)

  • Direct investment in Ireland increased by €4,616m in the third quarter of 2015, where an increase of €9,826m in equity and an increase of €9,321m in reinvested earnings were offset by a decrease in other capital of €14,531m.
  • Direct investment abroad increased by €16,744m, mainly through increased other capital transactions of €19,226m.
  • Within portfolio investment, liabilities increased through further investment in Irish equity of €28,028m, while foreign assets had decreases in money market instruments of €20,957m offset by increased investment in bonds and notes of €15,190m.
  • Other investment assets decreased by €34,384m in the third quarter of 2015, while other investment liabilities decreased by €49,476m in the quarter.
X-axis labelDirect InvestmentPortfolio InvestmentOther InvestmentReserve AssetsBalance on Financial Account
Q2 2013-7.20210.992-5.7610.001-1.97
Q3 2013-0.2838.362-5.9480.0042.135
Q4 2013-0.55217.802-15.3540.0051.9
Q1 20144.91-19.10712.2740-1.923
Q2 2014-2.7514.0363.0230.0014.31
Q3 20141.726-11.1336.5870.002-2.819
Q4 20145.1616.073-3.980.1337.388
Q1 201539.061-69.1333.3860.2093.526
Q2 20157.84919.007-23.3990.3073.764
Q3 201512.128-27.47515.091-0.025-0.28
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
2005Year32,184-13,655-22,372-1,769-37,795 -5,612 340 38,074-52,69815,364-1,472-7324,539
2006Year27,194-12,313-21,929-2,063-36,306 -9,112 299 16,634-8,135-16,635-87-8,223590
2007Year28,698-12,384-25,762-2,510-40,656 -11,959 115 -7547,283-20,08612-13,545-1,702
2008Year32,622-16,468-24,263-2,729-43,460 -10,837 119 24,16745,749-85,93278-15,938-5,220
2009Year38,752-15,823-26,991-2,948-45,762 -7,010 14 649-22,62619,433-79-2,6234,373
2010Year41,288-14,707-25,140-2,701-42,548 -1,260 91 -15,446-85,96590,883-5-10,533-9,363
2011Year41,257-9,955-30,651-2,660-43,266 -2,009 234 -17,775-26,90831,086-329-13,926-12,151
2012Year37,638-7,610-30,109-2,609-40,328 -2,688 86 -17,6633,82011,025-12-2,830-228
2013Year35,060-393-26,189-2,922-29,504 5,556 104 -11,95345,992-26,436107,6111,953
2014Year42,297-7,626-25,103-2,735-35,464 6,833 135 9,046-20,13117,9041366,956-13
                  
2009Quarter 1 9,692-4,189-7,113-960-12,263 -2,571 -3 1,1072,331-1,326-412,0714,646
 Quarter 210,140-3,835-7,566-748-12,149 -2,009 -1 -1,14815,776-24,67862-9,988-7,978
 Quarter 39,783-2,514-7,424-633-10,570 -787 -10 7,508-26,57021,337-32,2723,069
 Quarter 49,137-5,285-4,888-607-10,780 -1,643 28 -6,818-14,16324,100-973,0224,637
2010Quarter 1 10,235-3,079-7,527-879-11,485 -1,250 50 -4,547-19,82131,668-327,2688,468
 Quarter 210,555-3,606-7,516-590-11,712 -1,157 4 -2,9728,568-18,33819-12,723-11,570
 Quarter 311,985-3,358-6,602-704-10,664 1,321 14 1,35419,581-25,74576-4,734-6,069
 Quarter 48,513-4,664-3,495-528-8,686 -174 23 -9,281-94,293103,299-68-343-192
2011Quarter 1 10,624-3,259-7,728-841-11,829 -1,205 24 -8,203-7,06311,286-65-4,045-2,864
 Quarter 29,576-1,875-8,328-513-10,716 -1,140 1 -7,373-22,34427,15729-2,531-1,393
 Quarter 311,547-1,994-8,022-641-10,657 890 -1 -6,62219,456-16,652-24-3,842-4,731
 Quarter 49,510-2,827-6,573-664-10,064 -554 210 4,423-16,9579,295-269-3,508-3,164
2012Quarter 1 9,109-1,863-8,616-814-11,293 -2,184 61-12,55146,421-32,626-121,2323,355
 Quarter 2 9,447-2,724-7,887-603-11,214 -1,766 14,073-31,82821,0096-6,740-4,975
 Quarter 310,256-1,047-7,800-643-9,490 767 5-13,439-5,03817,833-1-645-1,417
 Quarter 48,826-1,976-5,806-549-8,331 495 194,254-5,7354,809-53,3232,809
2013Quarter 1 7,853-536-6,938-828-8,302 -449 53-3,9168,83662705,5465,943
 Quarter 2 9,790-531-7,848-699-9,078 712 16-7,20210,992-5,7611-1,970-2,697
 Quarter 3 9,978748-6,864-663-6,779 3,198 1-2838,362-5,94842,135-1,065
 Quarter 47,439-74-4,539-732-5,345 2,095 34-55217,802-15,35451,900-228
2014Quarter 19,118-1,695-7,141-895-9,731 -613 354,910-19,10712,2740-1,923-1,345
 Quarter 211,248-1,839-6,926-604-9,369 1,879 9-2,7514,0363,02314,3102,422
 Quarter 311,431-574-7,191-541-8,306 3,125 771,726-11,1336,5872-2,819-6,021
 Quarter 410,500-3,518-3,845-695-8,058 2,442 145,1616,073-3,9801337,3884,931
2015Quarter 114,150-3,876-7,804-846-12,526 1,625 3539,061-69,13033,3862093,5261,866
 Quarter 217,104-5,195-8,539-666-14,400 2,704 127,84919,007-23,3993073,7641,048
 Quarter 317,587-5,234-9,512-396-15,142 2,446 512,128-27,47515,091-25-280-2,731
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
20132014 20142015
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2Quarter 3
Current Account  
Merchandise 1Exports98,731113,20725,86728,53529,05829,747 32,78336,48636,437
Imports63,67170,91016,74917,28717,62719,247 18,63319,38218,849
           
  of which: Merchanting (net export)Exports3,7153,641 8508411,265685 8728701,137
           
ServicesExports92,703101,75022,41725,92626,35327,054 25,82229,60330,225
Imports93,096109,37624,11227,76526,92730,572 29,69834,79835,459
Repairs and ProcessingExports1,4401,251 290412281268 191291292
 Imports9821,153 264320306263 194329283
  TransportExports4,8275,1937461,4031,9761,068 8421,5242,279
Imports1,7151,842455444443500 498540546
  Tourism and Travel 2Exports3,3703,6565581,0361,327735 6131,2281,582
Imports4,6694,5617641,1801,627990 8501,2011,742
  InsuranceExports8,9649,2542,2982,3782,2102,368 2,5962,7682,627
Imports5,8555,9701,4161,5621,3961,596 1,7571,8461,872
  Financial servicesExports8,0698,3351,9022,1072,0852,241 2,2482,5142,687
Imports5,1036,6621,5701,6491,8201,623 1,5101,6681,758
  Royalties/LicencesExports4,3884,7761,1151,1021,2561,303 1,1941,4881,524
Imports36,41148,48210,57012,09111,92813,893 14,40115,53014,821
  CommunicationsExports522567139142141145 142141135
Imports1,049979247255241236 225246219
  Computer services 3Exports42,05647,91710,57812,57211,06613,701 12,52414,16613,480
Imports482646153167152174 142151205
  Business servicesExports17,37019,0954,4304,4515,5324,682 5,1384,9965,091
Imports36,55938,8168,60610,0328,94911,229 10,05313,22213,946
     Research and developmentExports1,0861,749288308843310 451325416
 Imports5,8466,6151,4661,5451,6571,947 2,0943,7324,680
     Operational leasingExports7,6967,8431,8541,9072,0392,043 2,1422,3032,293
 Imports1,4491,269279332331327 334343390
     Misc. business services 4Exports8,5899,5042,2882,2372,6502,329 2,5452,3682,383
 Imports29,26430,9336,8618,1566,9618,955 7,6269,1478,877
  Other services n.e.s.Exports1,6971,710360325481544 335486527
Imports26926666666668 666667
            
Primary IncomeInflows56,46862,85313,87515,28216,43117,265 17,12416,58416,496
 Outflows82,65787,95621,01622,20823,62221,110 24,92725,12326,008
  Compensation of EmployeesInflows544541136138136131 136136134
Outflows685699171177174177 161170167
  Investment IncomeInflows54,47160,99413,69315,06116,26615,974 16,96516,40815,966
Outflows81,73687,00520,79121,97823,39020,846 24,69424,87625,771
      Direct investment incomeInflows18,78619,4594,1414,7175,1955,406 5,2415,9214,774
Outflows41,71440,32610,4809,99711,2258,624 11,64212,14712,992
          Income on equityInflows15,56216,2653,2293,9114,4574,668 4,3095,0123,803
Outflows36,45435,1709,3008,7319,9057,234 10,35610,69411,660
              Dividends & distributed Inflows3,9562,410 1016601691,480 292*95
                  branch profitsOutflows17,42813,659 4,0203,3283,0613,250 3,7293,8432,339
              Reinvested earningsInflows11,60313,855 3,1293,2514,2873,188 4,017*3,708
Outflows19,02621,511 5,2805,4036,8443,984 6,6276,8519,321
         Income on debtInflows3,2263,196912807738739 932909971
Outflows5,2585,1571,1811,2661,3201,390 1,2861,4521,331
      Portfolio investment incomeInflows25,62032,8167,4048,1828,9268,304 9,1228,4089,400
Outflows30,25237,7158,2409,7519,8679,857 10,51010,67411,255
          Income on equityInflows6,9708,9881,8012,4082,5582,221 2,7332,2722,970
 Outflows20,21528,8006,1357,3447,6547,667 8,4468,5339,059
         Income on debtInflows18,64923,8285,6035,7746,3686,083 6,3896,1366,430
Outflows10,0378,9152,1062,4072,2122,190 2,0642,1412,196
      Other investment incomeInflows10,0648,7172,1482,1622,1442,263 2,6022,0791,792
Outflows9,7708,9642,0712,2302,2982,365 2,5422,0551,525
Other primary incomeInflows1,4511,3184683291,160 2240395
Outflows23425354535987 727869
            
Secondary IncomeInflows3,2002,861676673746766 970876914
 Outflows6,1225,5971,5721,2781,2871,460 1,8151,5421,310
             
Current Account - TotalInflows251,100280,67262,83570,41772,58874,832 76,69883,54884,071
Outflows245,546273,83963,44968,53869,46372,389 75,07380,84581,626
            
Current Account Balance 5,5566,833-6131,8793,1252,442 1,6252,7042,446
             
Capital Account Balance 1041353597714 35125
             
Memorandum Item:      
 Government IncomeInflows325128 35284025 166218
 Outflows4,6904,692 1,1551,1851,1811,171 1,1211,0801,104
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
2013201420142015
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2Quarter 3
     
Direct Investment Abroad21,86332,511 1,4795,66917,7967,567 47,91219,77016,744
In Ireland33,81623,465 -3,4318,42016,0702,406 8,85111,9214,616
            
    EquityAbroad10,059-656-4,610-8,63413,141-553 45,501*-6,189
 In Ireland11,52615,705-1,5629,3246,5131,430 2,0868,7879,826
    Reinvested EarningsAbroad11,60313,8553,1293,2514,2873,188 4,017*3,708
In Ireland19,02621,5115,2805,4036,8443,984 6,6276,8519,321
    Other CapitalAbroad19919,313 2,96111,0523684,932 -1,6051,94919,226
 In Ireland3,263-13,749 -7,149-6,3062,714-3,008 138-3,717-14,531
             
Portfolio InvestmentAssets98,516152,773 47,26531,47440,36733,667 46,99210,7401,476
Liabilities52,525172,904 66,37227,43851,50027,594 116,122-8,26728,951
            
    EquityAssets61,81368,414 12,76618,89016,88319,875 14,64722,2387,243
 Liabilities81,892171,547 65,43827,53559,19419,380 103,185-13,76028,028
     Debt InstrumentsAssets36,70484,359 34,49912,58423,48413,792 32,345-11,498-5,766
 Liabilities-29,3671,357 934-97-7,6948,214 12,9375,493923
        Bonds and notes Assets41,97717,130-5724,5946,3656,743 5,25514,36915,190
 Liabilities-21,883649166977-8,7708,276 12,4815,760-1,720
        Money market instruments Assets-5,27367,22935,0707,99017,1197,050 27,090-25,867-20,957
 Liabilities-7,484709 768-1,0741,076-61 456-2672,643
             
Other InvestmentAssets-49,32787,530 40,2832,60514,10430,538 38,514-28,560-34,384
Liabilities-22,89169,625 28,009-4197,51734,518 5,128-5,161-49,476
            
     Loans, currency and depositsAssets-41,41223,886 24,772-1,938-1,6182,670 19,886-18,549-10,996
 Liabilities-15,472-7,057 2,427-5,687-7,7013,904 -30,328-12,175-24,917
     Other 2Assets-7,91563,644 15,5124,54315,72127,868 18,627-10,011-23,388
 Liabilities-7,41976,681 25,5825,26815,21730,614 35,4567,015-24,559
             
Reserve Assets 10136 012133 209307-25
            
     Monetary gold 00 010-1 2100
     Special drawing rights 100 0000 5900
     Reserve position in the IMF 0-1 000-1 2300
     Foreign exchange  00 002-2 1-10
     Other 0137 000137 105308-25
             
Balance on Financial Account 7,6116,956 -1,9234,310-2,8197,388 3,5263,764-280
             
Net errors and omissions 1,953-13 -1,3452,422-6,0214,931 1,8661,048-2,731
Memorandum Item:           
Government financialAssets159-6,500 -1,411-2,041-175-2,873 -760-682-114
  transactionsLiabilities4,0682,651 3,5351,8881,269-4,041 7441,35610
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
 20132014 20142015
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2Quarter 3
Current Account - TotalInflows251,100280,67262,83570,41772,58874,832 76,69883,54884,071
 Outflows245,546273,83963,44968,53869,46372,389 75,07380,84581,626
            
Merchandise 2Exports98,731113,20725,86728,53529,05829,747 32,78336,48636,437
Imports63,67170,91016,74917,28717,62719,247 18,63319,38218,849
           
ServicesExports92,703101,75022,41725,92626,35327,054 25,82229,60330,225
Imports93,096109,37624,11227,76526,92730,572 29,69834,79835,459
           
        IFSCExports25,48327,0016,5146,8156,7956,877 7,1737,9097,778
 Imports14,79816,5203,9464,2634,1494,162 4,2544,5184,557
        Non-IFSCExports67,22074,75115,90319,11219,55820,178 18,64921,69422,447
Imports78,29992,85720,16523,50322,77826,411 25,44430,28130,902
           
Primary IncomeInflows56,46862,85313,87515,28216,43117,265 17,12416,58416,496
Outflows82,65787,95621,01622,20823,62221,110 24,92725,12326,008
           
        IFSCInflows36,49742,2959,76510,21611,30711,007 12,13510,78911,616
 Outflows37,59344,50410,21110,91511,71011,668 12,72311,20012,602
        Non-IFSCInflows19,96920,5594,1105,0665,1256,258 4,9885,7944,880
Outflows45,06443,45210,80511,29311,9129,442 12,20513,92313,406
           
Secondary IncomeInflows3,2002,861676673746766 970876914
Outflows6,1225,5971,5721,2781,2871,460 1,8151,5421,310
           
        IFSC 3Inflows2,6972,369571557618623 735736786
 Outflows2,6972,369571557618623 735736786
        Non-IFSCInflows503491106116127142 235140128
 Outflows3,4253,2271,001720669837 1,081806523
            
Balance on Current Account 5,5566,833-6131,8793,1252,442 1,6252,7042,446
            
Balance on Capital Account 1041353597714 35125
            
Financial Account 4            
Direct investmentAbroad21,86332,5111,4795,66917,7967,567 47,91219,77016,744
 In Ireland33,81623,465-3,4318,42016,0702,406 8,85111,9214,616
            
        IFSCAbroad3,046-3,235-3,667-147209370 1,7493,98532
 In Ireland17,1345,119-5,7441,42712,128-2,692 4,9853,513-16,118
        Non-IFSCAbroad18,81635,7475,1465,81717,5877,197 46,16415,78516,712
 In Ireland16,68118,3462,3136,9933,9425,098 3,8678,40820,734
            
Portfolio investmentAssets98,516152,77347,26531,47440,36733,667 46,99210,7401,476
 Liabilities52,525172,90466,37227,43851,50027,594 116,122-8,26728,951
            
        IFSCAssets93,884145,65149,53626,61739,58829,910 47,41111,1306,139
 Liabilities60,875143,76562,63027,87731,57921,679 69,316-13,37328,535
        Non-IFSCAssets4,6337,124-2,2714,8587793,758 -419-390-4,662
 Liabilities-8,35029,1393,742-43919,9215,915 46,8075,106416
            
Other investment 5Assets-49,32787,53040,2832,60514,10430,538 38,514-28,560-34,384
 Liabilities-22,89169,62528,009-4197,51734,518 5,128-5,161-49,476
            
        IFSCAssets-35,78095,13145,9584,50515,47129,197 38,925-30,352-23,047
 Liabilities-4,815112,09443,03110,38715,02843,648 17,212532-24,872
        Non-IFSCAssets-13,547-7,601-5,675-1,900-1,3671,341 -4121,792-11,338
 Liabilities-18,075-42,468-15,022-10,805-7,511-9,130 -12,085-5,692-24,604
            
Reserve Assets 10136012133 209307-25
            
Balance on Financial Account 7,6116,956 -1,9234,310-2,8197,388 3,5263,764-280
Net errors and omissions 1,953-13 -1,3452,422-6,0214,931 1,8661,048-2,731
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
 20132014 20142015
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2Quarter 3
     
Current Account - TotalInflows251,100280,672 62,83570,41772,58874,832 76,69883,54884,071
 Outflows245,546273,839 63,44968,53869,46372,389 75,07380,84581,626
             
  Merchandise 2Exports98,731113,20725,86728,53529,05829,747 32,78336,48636,437
 Imports63,67170,91016,74917,28717,62719,247 18,63319,38218,849
      EMUExports38,18640,4169,1489,52210,66011,086 11,87613,53312,934
 Imports17,95521,3225,1435,2435,1985,738 5,6206,0885,564
      Non-EMUExports60,54572,79116,71919,01318,39818,661 20,90722,95323,502
 Imports45,71749,58811,60612,04412,42913,509 13,01313,29413,285
       EU Exports58,46762,35914,32915,12316,55616,351 17,99719,74819,276
 Imports44,02248,77411,68112,00711,83313,253 12,52513,33912,814
      Non-EU Exports40,26350,84611,53813,41112,50213,395 14,78716,73817,161
Imports19,64922,1365,0695,2805,7945,993 6,1086,0426,035
            
  ServicesExports92,703101,75022,41725,92626,35327,054 25,82229,60330,225
 Imports93,096109,37624,11227,76526,92730,572 29,69834,79835,459
      EMUExports28,74632,3927,0538,5768,2138,550 8,1439,0479,042
 Imports33,48533,8457,6688,9798,4258,773 8,14010,4379,486
      Non-EMUExports63,95769,35915,36417,35018,14018,505 17,67920,55621,183
 Imports59,61275,53216,44418,78618,50221,800 21,55824,36125,972
       EU Exports51,58958,28212,45515,33515,08915,403 14,12716,61517,250
 Imports44,64246,56610,49312,29011,59112,192 11,25813,61513,153
      Non-EU Exports41,11543,4709,96210,59111,26511,652 11,69412,98812,976
Imports48,45462,81013,61815,47615,33618,380 18,43921,18322,306
             
Primary IncomeInflows56,46862,85313,87515,28216,43117,265 17,12416,58416,496
 Outflows82,65787,95621,01622,20823,62221,110 24,92725,12326,008
      EMUInflows20,23623,0525,3235,8115,8776,041 5,8246,2255,379
 Outflows31,61631,6538,0947,1278,7867,646 9,2149,4959,966
      Non-EMUInflows36,23139,8018,5529,47110,55411,224 11,30010,35911,116
 Outflows51,03956,30412,92215,08114,83613,465 15,71415,62816,042
       EU Inflows31,32236,8278,2259,0569,31710,229 9,4149,6959,250
 Outflows46,46151,32712,20612,16814,10012,853 14,93514,57215,817
      Non-EU Inflows25,14526,0275,6516,2267,1147,036 7,7106,8897,246
 Outflows36,19636,6308,81010,0409,5228,258 9,99210,55110,191
             
Secondary IncomeInflows3,2002,861676673746766 970876914
 Outflows6,1225,5971,5721,2781,2871,460 1,8151,5421,310
      EMUInflows1,0721,033253211291278 276306261
 Outflows1,1581,117274232312299 305329282
      Non-EMUInflows2,1291,829424462455488 693569653
 Outflows4,9654,4791,2981,0459751,161 1,5101,2121,027
       EU Inflows2,3592,063499440569555 712729681
 Outflows4,6044,2211,2669369361,083 1,4481,2031,029
      Non-EU Inflows841797177233177210 258147233
 Outflows1,5181,375306341351377 367338281
             
Balance on Current Account 5,5566,833-6131,8793,1252,442 1,6252,7042,446
             
Balance on Capital Account 1041353597714 35125
            
1The term ‘EMU’ means the area represented by the 18 Member States participating in Monetary Union since the enlargement of the Euro area on
1 January 2014 to include Latvia. 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 EMU18 and EU28.
2Adjusted for balance of payments purposes.
Table 4b Financial Account¹ showing geographical² detail€ million
  20132014 2014 2015
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2Quarter 3
    
Direct InvestmentAbroad21,86332,5111,4795,66917,7967,567 47,91219,77016,744
 In Ireland33,81623,465-3,4318,42016,0702,406 8,85111,9214,616
            
      EMUAbroad4,45040,2601,14388617,73020,501 42,7153,270138
 In Ireland18,87116,684-3,2025,0537,9856,848 -2,446-1473,927
      Non-EMUAbroad17,412-7,7493364,78366-12,934 5,19716,50016,607
 In Ireland14,9456,781-2293,3678,085-4,442 11,29712,069689
       EU Abroad21,18139,579-1,551-1,83419,68223,282 42,1383,653144
 In Ireland20,00513,625-5,6546,4145,7617,104 -1,959-5681,777
      Non-EU Abroad680-7,0683,0307,503-1,886-15,715 5,77516,11816,600
 In Ireland13,8119,8412,2232,00610,310-4,698 10,81012,4892,840
            
Portfolio InvestmentAssets98,516152,77347,26531,47440,36733,667 46,99210,7401,476
 Liabilities52,525172,90466,37227,43851,50027,594 116,122-8,26728,951
            
      EMUAssets19,55433,49223,1364,5845,73636 26,111-1,467-4,450
 Liabilities7,66952,38416,20912,63910,64812,888 22,16710,43811,330
      Non-EMUAssets78,962119,28224,12926,89134,63133,631 20,88112,2075,927
 Liabilities44,856120,52150,16314,79940,85214,707 93,955-18,70517,621
       EU Assets41,71472,50927,18522,8639,49512,966 34,589-7,421-3,211
 Liabilities37,620123,68439,05439,97128,71815,941 67,906-17,0578,026
      Non-EU Assets56,80280,26420,0808,61130,87220,701 12,40318,1614,687
 Liabilities14,90649,22127,318-12,53222,78211,653 48,2168,79020,925
             
Other Investment 3Assets-49,32787,53040,2832,60514,10430,538 38,514-28,560-34,384
 Liabilities-22,89169,62528,009-4197,51734,518 5,128-5,161-49,476
            
      EMUAssets-13,75524,6406,05322,444191-4,048 14,160-8,83611,947
 Liabilities-32,676-2,7809,089-5,763-8,7422,636 2,810-8,698-879
      Non-EMUAssets-35,57262,89134,231-19,83913,91334,586 24,353-19,724-46,331
 Liabilities9,78572,40518,9205,34516,25831,882 2,3183,538-48,596
       EU Assets-24,52145,79315,6678,6109,03512,481 7,524-14,601-11,237
 Liabilities-22,43741,35716,867-5,830-1,17131,491 9,795-13,521-22,727
      Non-EU Assets-24,80541,73824,617-6,0055,06918,057 30,989-13,959-23,147
 Liabilities-45228,26911,1425,4128,6883,027 -4,6678,361-26,749
           
Reserve Assets 10136012133 209307-25
            
Balance on Financial Account 7,6116,956-1,9234,310-2,8197,388 3,5263,764-280
             
Net errors and omissions 1,953-13 -1,3452,422-6,0214,931 1,8661,048-2,731
1See footnote 1 on Table 2b.
2The term ‘EMU’ means the area represented by the 18 Member States participating in Monetary Union since the enlargement of the Euro area
on 1 January 2014 to include Latvia. 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 EMU18 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 the http://www.cso.ie/en/surveysandmethodology/balanceofpayments/methodologydocuments/BOP Quarterly Statistical Compilation Methodology (PDF 239KB)

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