Back to Top

Central Statistics Office

Gaeilge

 Skip navigation

Extra information
Methodology Previous Releases
International comparison:
Eurostat
See also:
YouTube Video
For more information on this release:
E-mail: bop@cso.ie Annette Hayes (+353) 1 498 4319 John Flanagan (+353) 1 498 4054
For general information on CSO statistics:
information@cso.ie (+353) 21 453 5000 Visit StatCentral.ie, the portal to Ireland's official statistics On-line ISSN 2009-5201
CSO statistical release, 09 March 2017, 11am

Balance of International Payments

Quarter 4 and Year 2016

   € million
Merchandise BalanceInvisibles BalanceCurrent Account BalanceCurrent Account Balance as % of GDP
Q4 201627,235-38,367-11,132-15.4
Q4 201528,964-21,7967,16710.4
Year 2016102,985-90,44112,5444.7
Year 2015110,568-84,41026,15710.2

Current account deficit of €11bn in Q4 2016

 Balance of International  payments Q4 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 deficit in the fourth quarter of 2016 of €11,132m. This was largely related to an increase in research and development service imports in the quarter. For the year 2016, the current account surplus was €12,544m, a decrease of €13,613m on 2015. The annual services deficit increased by €11,968m while the merchandise surplus decreased €7,583m and income outflows were €5,937m lower than 2015 (see Table 1).

X-axis labelMerchandiseServicesPrimary IncomeSecondary IncomeBalance on Current account
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
Q1 201626.574-5.826-11.132-0.6618.955
Q2 201624.667-9.972-9.501-0.5524.643
Q3 201624.509-0.485-13.22-0.72510.078
Q4 201627.235-25.042-12.561-0.764-11.132

Other points of note in the Quarter 4 2016 results are:

Current account (see Table 2a)

  • Compared with the fourth quarter of 2015, merchandise exports at €49,918m decreased by €2,598m while merchandise imports at €22,683m decreased by €869m.
  • Service imports at €61,451m were up €21,566m, largely driven by increases in Research and development payments. Service exports at €36,409m increased by €3,865m compared to the fourth quarter of 2015, mainly due to higher computer services exports.
  • Investment income earned abroad at €18,369m, increased by €2,750m compared with one year earlier while investment income payable to foreign investors at €32,089m increased by €2,022m.

Financial account (see Tables 2b and 3)

  • Direct investment in Ireland increased by €25,316m in the fourth quarter of 2016. This comprised an increase of €13,077m in reinvested earnings, an increase in equity of €44,015m and a decrease in other capital of €31,777m.  Direct investment abroad increased by €8,643m in the quarter.
  • Portfolio investment in foreign assets increased €39,539m in the quarter. Investment in foreign equity increased €13,266m while investment in foreign debt instruments increased €26,273m. Portfolio investment in Ireland comprised increases of €45,451m in Irish equity and a reduction of €19,305m of Irish debt instruments in the quarter.
  • Other investment assets decreased by €26,867 in the fourth quarter of 2016 split between the activities of IFSC enterprises with an decrease of €33,307m and non-IFSC enterprises with an increase of €6,439m. 

 

X-axis labelDirect InvestmentPortfolio InvestmentOther InvestmentReserve AssetsBalance on Financial Account
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
Q4 2015-75.163-18.6599.8810.1036.171
Q1 201616.22-2.979-6.220.9367.957
Q2 201614.2615.157-16.16-0.2123.046
Q3 20166.30311.236-6.9020.3711.008
Q4 2016-16.67313.393-13.850.219-16.912
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   
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
2016Year102,985-41,325-46,414-2,702-90,441 12,544 -5,560 20,11126,807-43,1321,3135,099-1,885
                  
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
 Quarter 324,509-485-13,220-725-14,430 10,078 -3926,30311,236-6,90237011,0081,322
 Quarter 427,235-25,042-12,561-764-38,367 -11,132 -1,564-16,67313,393-13,850219-16,912-4,215
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
20152016 20152016
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2Quarter 3Quarter 4
Current Account  
Merchandise 1Exports195,592186,25146,47847,20149,39752,516 45,79645,66144,87649,918
Imports85,02483,26820,25320,72020,49923,552 19,22220,99520,36822,683
            
  of which: Merchanting (net export)Exports7,7276,720 2,3091,8821,9251,611 1,7011,5271,9151,577
            
ServicesExports121,605132,56627,32930,55231,18032,544 29,21132,23734,70936,409
Imports150,963173,89133,44938,80938,82039,885 35,03742,20835,19561,451
  Repairs and ProcessingExports1,1101,394 222322323243 226232462474
 Imports1,4001,141 325399367309 241277301322
  TransportExports5,9366,1278421,5492,3051,240 9751,5522,3561,244
Imports2,4892,276599611607672 532556571617
  Tourism and Travel 2Exports4,3204,6856131,2281,582897 7161,2961,718955
Imports5,1215,5229081,2541,7931,166 1,0711,3501,9171,184
  InsuranceExports10,3009,3742,5332,6912,5652,511 2,3632,3152,2862,410
Imports7,0906,7241,7651,8191,8271,679 1,9041,5941,6221,604
  Financial servicesExports11,04211,3142,4962,7392,8652,942 2,6062,7392,8543,115
Imports6,9917,0161,5901,7051,7691,927 1,6751,6791,7871,875
  Royalties/LicencesExports6,7237,5281,6481,7031,7211,651 1,6691,8271,9112,121
Imports67,76568,74515,39817,23916,68718,441 17,49217,21616,77117,266
  CommunicationsExports668641171169164164 159162162158
Imports1,0211,090257261242261 285255276274
  Computer services 3Exports57,40963,76313,10414,30113,77216,232 14,67515,48315,34418,261
Imports916782215231239231 196199175212
  Business servicesExports21,95825,6815,2995,2965,2756,088 5,4256,1387,0557,063
Imports57,90280,32912,32615,22415,22115,131 11,57419,01711,70838,030
     Research and developmentExports1,7582,569410401477470 554898587530
 Imports19,701*3,7115,2286,0024,760 2,9799,4552,881*
     Operational leasingExports11,75112,1412,8352,8882,9323,096 2,9013,0023,0483,190
 Imports770941149167215239 142291172336
     Misc. business services 4Exports8,44710,9722,0532,0071,8662,521 1,9702,2383,4213,343
 Imports37,432*8,4669,8289,00510,133 8,4529,2728,654*
  Other services n.e.s.Exports2,1392,060401552609577 397493561609
Imports26626466666767 67636767
             
Primary IncomeInflows61,66568,28215,36915,02314,41916,854 15,87417,82214,81219,774
 Outflows113,581114,69630,06024,97928,23330,309 27,00627,32328,03232,335
  Compensation of EmployeesInflows542537135136135136 136130136135
Outflows633617156165163149 154155156152
  Investment IncomeInflows59,55366,39215,21114,83413,88915,619 15,71817,64914,65618,369
Outflows112,635113,77629,83224,73528,00130,067 26,78327,09727,80732,089
      Direct investment incomeInflows15,77118,8093,8044,5002,8454,622 4,9034,4613,1296,316
Outflows59,70557,47416,14411,91515,09716,549 14,24711,17014,18617,871
          Income on equityInflows12,14015,5682,8983,6001,9733,669 4,0103,7032,4105,445
Outflows53,94751,87014,75210,37313,68415,138 12,9009,81312,80316,354
              Dividends & distributed Inflows1,2771,724 **88293 159*94*
                  branch profitsOutflows15,16619,927 4,7644,1792,6803,543 7,9564,0284,6663,277
              Reinvested earningsInflows10,86313,846 **1,8853,376 3,851*2,317*
Outflows38,78131,943 9,9886,19411,00411,595 4,9445,7858,13713,077
         Income on debtInflows3,6313,239906900872953 893757718871
Outflows5,7585,6061,3921,5421,4131,411 1,3481,3571,3831,518
      Portfolio investment incomeInflows36,15740,2099,1248,4049,3839,246 9,12511,1719,9379,976
Outflows44,43048,60111,08810,69411,29411,354 10,89114,01811,67012,022
          Income on equityInflows10,32412,7832,7332,2682,9692,354 2,5644,4653,1082,646
 Outflows35,74040,4568,8718,5849,1279,158 8,69811,9919,70810,059
         Income on debtInflows25,83327,4246,3916,1366,4146,892 6,5616,7056,8297,329
Outflows8,6908,1432,2172,1102,1672,196 2,1922,0261,9621,963
      Other investment incomeInflows7,6247,3752,2821,9301,6611,751 1,6902,0171,5912,077
Outflows8,4997,7022,5992,1261,6102,164 1,6451,9101,9512,196
Other primary incomeInflows1,5711,35422543951,100 2143201,270
Outflows31230372786993 69716994
             
Secondary IncomeInflows4,0104,5721,081988977964 1,1471,0641,0751,286
 Outflows7,1497,2731,9771,7101,4981,964 1,8081,6151,8002,050
              
Current Account - TotalInflows382,873391,67190,25793,76495,974102,878 92,02896,78495,472107,387
Outflows356,716379,12985,73986,21789,05095,710 83,07392,14285,395118,519
             
Current Account Balance 26,15712,5444,5197,5476,9247,167 8,9554,64310,078-11,132
              
Capital Account Balance -1,255-5,560-294-317-324-320 -2,368-1,236-392-1,564
              
Memorandum Item:    
 Government IncomeInflows12976 15621834 12201925
 Outflows4,3973,927 1,1211,0801,1041,092 1,066998978885
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 were 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
2015201620152016
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2Quarter 3Quarter 4
     
Direct Investment Abroad149,93740,274 51,96924,62718,59554,74633,299-2,7591,0918,643
In Ireland169,80920,163 12,52822,4874,884129,91017,079-17,020-5,21225,316
            
    EquityAbroad113,32142,17850,58521,372-1,86443,228 25,88513,406-2,4115,298
 In Ireland116,845100,5627,38925,56324,83359,06043,5174,5848,44644,015
    Reinvested EarningsAbroad10,86313,846**1,8853,376 3,851*2,317*
In Ireland38,78131,9439,9886,19411,00411,5954,9445,7858,13713,077
    Other CapitalAbroad25,754-15,751**18,5748,1423,563*1,185*
 In Ireland14,181-112,341 -4,850-9,271-30,95359,255-31,381-27,388-21,795-31,777
             
Portfolio InvestmentAssets127,682115,308 46,96410,7822,29867,63812,62028,28434,86539,539
Liabilities247,42188,502 127,2444,67229,21786,28815,59923,12823,62926,146
            
    EquityAssets46,3798,879 14,60922,1066,9782,686221-16,29711,68913,266
 Liabilities186,857143,654 106,339-8,45520,30468,66914,86753,73129,60545,451
     Debt InstrumentsAssets81,302106,429 32,355-11,324-4,68164,95212,39944,58123,17626,273
 Liabilities60,563-55,153 20,90513,1278,91217,619732-30,604-5,976-19,305
        Bonds and notes Assets65,27782,5865,30313,80514,35631,81315,02837,79514,73015,033
 Liabilities56,855-50,48920,44413,3886,26416,759584-30,088-6,161-14,824
        Money market instruments Assets16,02523,84227,052-25,129-19,03733,139-2,6296,7868,44511,240
 Liabilities3,707-4,664 461-2622,648860148-516185-4,481
             
Other InvestmentAssets87,335-71,342 52,171-20,780-34,77790,721-18,832-23,930-1,713-26,867
Liabilities-74,564-28,210 7,696-16,218-56,882-9,160-12,612-7,7705,189-13,017
            
     Loans, currency and depositsAssets72,098-22,724 33,837-11,05591548,401-2,83513,496-14,138-19,247
 Liabilities-30,4557,863 -26,505-8,354-17,82322,22710,5627082,228-5,635
     Other 2Assets15,237-48,619 18,334-9,725-35,69242,320-15,997-37,42612,425-7,621
 Liabilities-44,108-36,072 34,202-7,864-39,059-31,387-23,174-8,4772,962-7,383
             
Reserve Assets 4941,313 108307-24103936-212370219
            
     Monetary gold 10 00010000
     Special drawing rights 219 100100415
     Reserve position in the IMF 1680 1000687-700
     Foreign exchange  0416 1-11-10235262
     Other 490198 105308-25102249-20715141
             
Balance on Financial Account 22,7845,099 3,7443,9968,8736,1717,9573,04611,008-16,912
              
Net errors and omissions -2,118-1,885 -480-3,2342,273-677 1,369-3611,322-4,215
Memorandum Item:           
Government financialAssets-1,642-918 -763-685-114-80 -822-100516-512
  transactionsLiabilities-619-6,994 7441,35610-2,729 2,787-7,516623-2,888
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
 20152016 20152016
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2Quarter 3Quarter 4
Current Account - TotalInflows382,873391,67190,25793,76495,974102,87892,02896,78495,472107,387
 Outflows356,716379,12985,73986,21789,05095,71083,07392,14285,395118,519
            
Merchandise 2Exports195,592186,25146,47847,20149,39752,51645,79645,66144,87649,918
Imports85,02483,26820,25320,72020,49923,55219,22220,99520,36822,683
           
ServicesExports121,605132,56627,32930,55231,18032,54429,21132,23734,70936,409
Imports150,963173,89133,44938,80938,82039,88535,03742,20835,19561,451
           
        IFSCExports32,74533,1757,6818,3088,2168,540 7,9148,2028,2618,798
 Imports17,27816,8304,0834,3464,5334,316 4,1724,1004,0924,466
        Non-IFSCExports88,86099,39119,64822,24422,96424,00421,29724,03526,44827,611
Imports133,685157,06129,36634,46334,28735,56930,86538,10831,10356,985
           
Primary IncomeInflows61,66568,28215,36915,02314,41916,85415,87417,82214,81219,774
Outflows113,581114,69630,06024,97928,23330,30927,00627,32328,03232,335
           
        IFSCInflows46,82251,43712,18710,94611,70311,986 11,76714,07312,41213,185
 Outflows51,72755,67413,66411,96213,34812,753 12,77715,13013,83413,933
        Non-IFSCInflows14,84316,8443,1824,0772,7164,8684,1063,7492,4006,589
Outflows61,85459,02316,39613,01714,88517,55614,23012,19314,19818,402
           
Secondary IncomeInflows4,0104,5721,0819889779641,1471,0641,0751,286
Outflows7,1497,2731,9771,7101,4981,9641,8081,6151,8002,050
           
        IFSC 3Inflows3,2343,8588158168187859528859351,086
 Outflows3,2343,8588158168187859528859351,086
        Non-IFSCInflows774715266172158178195179140201
 Outflows3,9123,4161,1628936791,178856731865964
            
Balance on Current Account 26,15712,5444,5197,5476,9247,1678,9554,64310,078-11,132
            
Balance on Capital Account -1,255-5,560-294-317-324-320-2,368-1,236-392-1,564
            
Financial Account 4            
Direct investmentAbroad149,93740,27451,96924,62718,59554,74633,299-2,7591,0918,643
 In Ireland169,80920,16312,52822,4874,884129,91017,079-17,020-5,21225,316
            
        IFSCAbroad52,59215,8231,8443,774-22747,20114,4221101701,121
 In Ireland70,599-2205,0756,625-15,41774,31619,671-16,92715,431-18,395
        Non-IFSCAbroad97,34524,45250,12520,85318,8227,54518,878-2,8699217,522
 In Ireland99,21020,3847,45315,86220,30155,594-2,591-93-20,64343,711
            
Portfolio investmentAssets127,682115,30846,96410,7822,29867,63812,62028,28434,86539,539
 Liabilities247,42188,502127,2444,67229,21786,28815,59923,12823,62926,146
            
        IFSCAssets131,711109,07647,35211,1417,14066,07811,95826,85132,31037,957
 Liabilities200,97491,66380,35318528,96191,4751,38132,19327,27530,814
        Non-IFSCAssets-4,0296,231-388-359-4,8421,5606621,4332,5551,581
 Liabilities46,445-3,16046,8914,486255-5,18714,218-9,065-3,646-4,667
            
Other investment 5Assets87,335-71,34252,171-20,780-34,77790,721-18,832-23,930-1,713-26,867
 Liabilities-74,564-28,2107,696-16,218-56,882-9,160-12,612-7,7705,189-13,017
            
        IFSCAssets50,914-63,08447,941-20,848-26,36150,182-9,412-23,5683,203-33,307
 Liabilities-31,827-33,26518,617-12,359-36,899-1,186-8,747-10,9953,633-17,156
        Non-IFSCAssets36,421-8,2584,23068-8,41640,539-9,419-362-4,9166,439
 Liabilities-42,7375,056-10,921-3,858-19,984-7,974-3,8653,2251,5574,139
            
Reserve Assets 4941,313108307-24103936-212370219
            
Balance on Financial Account 22,7845,099 3,7443,9968,8736,171 7,9573,04611,008-16,912
Net errors and omissions -2,118-1,885 -480-3,2342,273-677 1,369-3611,322-4,215
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
 20152016 20152016
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2Quarter 3Quarter 4
     
Current Account - TotalInflows382,873391,671 90,25793,76495,974102,87892,02896,78495,472107,387
 Outflows356,716379,129 85,73986,21789,05095,71083,07392,14285,395118,519
             
  Merchandise 2Exports195,592186,25146,47847,20149,39752,51645,79645,66144,87649,918
 Imports85,02483,26820,25320,72020,49923,55219,22220,99520,36822,683
      EMUExports67,45060,34015,64816,61717,20117,98415,96614,53114,52915,314
 Imports27,43329,6596,3766,6166,2828,1596,5397,2987,6308,192
      Non-EMUExports128,142125,91230,83030,58432,19634,53229,83031,13130,34734,604
 Imports57,59253,60713,87714,10414,21715,39412,68313,69612,73714,491
       EU Exports101,62491,14023,76624,72825,99827,13223,71222,10621,65523,667
 Imports57,35457,61113,50913,96213,60916,27413,48914,50613,94715,669
      Non-EU Exports93,96895,11122,71222,47323,39925,38422,08323,55623,22126,251
Imports27,67225,6556,7456,7586,8917,2785,7326,4886,4217,014
            
  ServicesExports121,605132,56627,32930,55231,18032,54429,21132,23734,70936,409
 Imports150,963173,89133,44938,80938,82039,88535,03742,20835,19561,451
      EMUExports35,64736,4508,4229,0128,9919,2227,9708,73810,4939,249
 Imports39,83040,0568,79210,6009,94810,4908,9379,95210,11711,050
      Non-EMUExports85,95996,11718,90721,54022,19023,32221,24223,49924,21627,160
 Imports111,132133,83524,65628,20928,87229,39526,10032,25625,07850,401
       EU Exports65,64167,55814,49216,64817,30717,19415,03616,40519,10417,013
 Imports53,65552,68812,25413,81013,51014,08112,20612,93813,24714,297
      Non-EU Exports55,96465,00812,83713,90413,87315,35014,17515,83215,60619,395
Imports97,307121,20421,19424,99925,31025,80422,83129,27121,94847,154
             
Primary IncomeInflows61,66568,28215,36915,02314,41916,85415,87417,82214,81219,774
 Outflows113,581114,69630,06024,97928,23330,30927,00627,32328,03232,335
      EMUInflows24,09126,5826,8036,3554,7006,2337,2626,0795,3557,886
 Outflows38,83039,5949,6349,4649,9539,7799,4329,42710,7419,994
      Non-EMUInflows37,57441,7018,5668,6689,71910,6218,61311,7439,45711,888
 Outflows74,75075,10220,42615,51518,27920,53017,57417,89617,29122,341
       EU Inflows39,71542,73410,3339,7658,59111,02610,87210,1588,84412,860
 Outflows61,40364,38815,78414,65115,91715,05115,30616,48016,77015,832
      Non-EU Inflows21,95025,5495,0365,2585,8285,8285,0027,6655,9686,914
 Outflows52,17850,30914,27610,32812,31615,25811,70010,84411,26216,503
             
Secondary IncomeInflows4,0104,5721,0819889779641,1471,0641,0751,286
 Outflows7,1497,2731,9771,7101,4981,9641,8081,6151,8002,050
      EMUInflows1,2951,531336366321272353373335470
 Outflows1,4751,709382406361326386459368496
      Non-EMUInflows2,7143,039745622656691793691739816
 Outflows5,6725,5651,5951,3041,1361,6371,4221,1571,4321,554
       EU Inflows3,0403,488801818769652912830819927
 Outflows5,6045,7401,5901,3511,1681,4951,4741,3281,4181,520
      Non-EU Inflows9701,082280171207312234234255359
 Outflows1,5451,533388359330468334287382530
             
Balance on Current Account 26,15712,5444,5197,5476,9247,1678,9554,64310,078-11,132
             
Balance on Capital Account -1,255-5,560-294-317-324-320-2,368-1,236-392-1,564
            
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 EU-28 area. All data shown on this table relates to EMU-19 and EU-28.
2Adjusted for balance of payments purposes
Table 4b Financial Account¹ showing geographical² detail    € million
  20152016 20152016
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2Quarter 3Quarter 4
    
Direct InvestmentAbroad149,93740,27451,96924,62718,59554,74633,299-2,7591,0918,643
 In Ireland169,80920,16312,52822,4874,884129,91017,079-17,020-5,21225,316
            
      EMUAbroad61,4618,85848,0157,9343,5541,95813,828-6,418-1691,617
 In Ireland40,537-33,934-1,740-96214,29728,942-5,473-5,882-2,088-20,491
      Non-EMUAbroad88,47731,4163,95516,69315,04152,78819,4713,6591,2607,026
 In Ireland129,27254,09614,26823,449-9,413100,96822,552-11,138-3,12445,806
       EU Abroad63,24116,99546,5897,4692,4556,72820,872-6,4082462,285
 In Ireland37,266-31,7112,5812,43116,25416,000-34,6861,441-5,8407,374
      Non-EU Abroad86,69623,2795,38017,15816,14048,01812,4273,6498456,358
 In Ireland132,54251,8749,94720,056-11,370113,90951,766-18,46162717,942
            
Portfolio InvestmentAssets127,682115,30846,96410,7822,29867,63812,62028,28434,86539,539
 Liabilities247,42188,502127,2444,67229,21786,28815,59923,12823,62926,146
            
      EMUAssets34,75413,61526,797-2,088-4,96415,009-466-3,80511,6326,254
 Liabilities101,69925,23030,40319,15716,31435,82510,916-3,00816,914408
      Non-EMUAssets92,927101,69320,16712,8707,26152,62913,08632,09023,23333,284
 Liabilities145,72263,27396,841-14,48512,90350,4634,68326,1366,71525,739
       EU Assets62,47345,62235,105-8,118-3,74039,2261,2225,27717,63021,493
 Liabilities169,11569,46578,004-4,9609,58286,4899,86211,99126,82220,790
      Non-EU Assets65,21069,68711,85918,9016,03828,41211,39823,00817,23518,046
 Liabilities78,30619,03849,2409,63219,635-2015,73711,137-3,1935,357
             
Other Investment 3Assets87,335-71,34252,171-20,780-34,77790,721-18,832-23,930-1,713-26,867
 Liabilities-74,564-28,2107,696-16,218-56,882-9,160-12,612-7,7705,189-13,017
            
      EMUAssets69,883-33,47525,98621020,34223,345-5,473-12,054-8,374-7,574
 Liabilities-8,855-11,9974,268-11,549-1,179-395-5,41011,407-8,193-9,801
      Non-EMUAssets17,451-37,86726,185-20,990-55,12067,376-13,359-11,8766,661-19,293
 Liabilities-65,708-16,2123,428-4,668-55,703-8,765-7,201-19,17713,383-3,217
       EU Assets36,70628,61419,893-5,517-7,66729,9977,27933,5854,451-16,701
 Liabilities-38,36231,51110,836-16,287-28,250-4,6614,81215,8882,3308,481
      Non-EU Assets50,628-99,95632,278-15,263-27,11160,724-26,111-57,515-6,164-10,166
 Liabilities-36,203-59,721-3,14069-28,633-4,499-17,424-23,6582,859-21,498
           
Reserve Assets 4941,313108307-24103936-212370219
            
Balance on Financial Account 22,7845,0993,7443,9968,8736,1717,9573,04611,008-16,912
              
Net errors and omissions -2,118-1,885 -480-3,2342,273-677 1,369-3611,322-4,215
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 EU-28 area. All data shown on this table relates to EMU-19 and EU-28.
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.Methodology Document (PDF 239KB)

upArrowHide Background Notes

Scan the QR code below to view this release online or go to
http://www.cso.ie/en/releasesandpublications/er/bop/balanceofinternationalpaymentsq42016/