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Table 1.1 Balance of International Payments | € million | |||
Merchandise Balance | Services and Income Balance | Current Account Balance | Current Account Balance as % of GDP | |
Q1 2019 | 32,151 | -21,162 | 10,990 | 13.1 |
Q1 2020 | 34,409 | -49,617 | -15,208 | -17.1 |
Q1-Q4 2018 | 112,960 | -78,668 | 34,292 | 10.6 |
Q1-Q4 2019 | 122,768 | -155,598 | -32,829 | -9.5 |
The Balance of Payments current account, a measure of Ireland’s economic flows with the rest of the world, showed a deficit of €15.2bn in the first quarter of 2020. Large imports of intellectual property in the quarter, similar to Q2 and Q4 2019 have put the account in deficit.
Current Account | |
Q4 2017 | 15.9244761416053 |
Q1 2018 | 14.3462968690652 |
Q2 2018 | 13.7409318355348 |
Q3 2018 | 13.5071542511826 |
Q4 2018 | 1.17048719979101 |
Q1 2019 | 13.0905654005477 |
Q2 2019 | -32.1864599948528 |
Q3 2019 | 12.3080021466983 |
Q4 2019 | -31.5526521409239 |
Q1 2020 | -17.0540949811843 |
Merchandise | Services | Primary Income | Secondary Income | Balance on Current Account | |
Q4 2017 | 30.723 | -1.571 | -15.63 | -0.694 | 12.827 |
Q1 2018 | 29.06 | -0.151 | -16.681 | -0.902 | 11.325 |
Q2 2018 | 28.803 | -0.986 | -16.269 | -0.987 | 10.561 |
Q3 2018 | 28.22 | 0.527 | -16.561 | -0.759 | 11.427 |
Q4 2018 | 26.877 | -4.961 | -20.22 | -0.718 | 0.979 |
Q1 2019 | 32.151 | -1.224 | -18.682 | -1.256 | 10.99 |
Q2 2019 | 28.157 | -33.412 | -20.708 | -0.575 | -26.538 |
Q3 2019 | 33.207 | -0.312 | -20.924 | -0.811 | 11.16 |
Q4 2019 | 29.253 | -37.905 | -19.16 | -0.629 | -28.441 |
Q1 2020 | 34.409 | -29.29 | -19.227 | -1.1 | -15.208 |
Other points of note in the Quarter 1 2020 results are:
Direct Investment | Portfolio Investment | Other Investment | Reserve Assets | Balance on Financial Account | |
Q4 2017 | -31.389 | -1.059 | 47.706 | 0.102 | 15.36 |
Q1 2018 | 11.865 | 9.333 | -21.878 | -0.022 | -0.702 |
Q2 2018 | 9.67 | -27.047 | 35.166 | 0.005 | 17.794 |
Q3 2018 | 10.784 | -2.409 | 1.68 | 0.209 | 10.265 |
Q4 2018 | -7.918 | 14.452 | -47.944 | 0.578 | -40.832 |
Q1 2019 | 2.627 | -3.748 | 12.795 | 0.002 | 11.675 |
Q2 2019 | -49.036 | -14.059 | 25.315 | 0.121 | -37.659 |
Q3 2019 | -1.639 | 34.764 | -35.408 | 0.125 | -2.157 |
Q4 2019 | -5.668 | 20.234 | -52.979 | 0.181 | -38.231 |
Q1 2020 | -13.153 | -105.501 | 96.287 | 0.138 | -22.228 |
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