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International Accounts Q1 2021 Final

Balance of International Payments

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Current account balance of €19bn in Quarter 1 2021

Table 1.1 Balance of International Payments				€ million
	Merchandise Balance	Services and Income Balance	Current Account Balance	Current Account Balance as % of GDP
Q1 2020	37,656	-83,581	-45,924	-49.3
Q1 2021	43,658	-24,617	19,040	18.8

Q1-Q4 2019	118,116	-188,888	-70,772	-19.9
Q1-Q4 2020	144,952	-154,846	-9,892	-2.7

Open in Excel: International Accounts Q1 2021 Table 1.1 (XLS 10KB)

The Balance of Payments current account, a measure of Ireland’s economic flows with the rest of the world, showed a surplus of €19bn in the first quarter of 2021. Reduced R&D related intellectual property imports have contributed to the increased current account surplus.

	Current Account
Q4 2018	-16.63983645572
Q1 2019	11.5170070258085
Q2 2019	-39.588582343147
Q3 2019	12.465483158424
Q4 2019	-63.5161880916754
Q1 2020	-49.2835487394886
Q2 2020	11.6541962287259
Q3 2020	15.1416633507514
Q4 2020	11.5649766415266
Q1 2021	18.8209425983364

	Merchandise	Services	Primary Income	Secondary Income	Balance on Current Account
Q4 2018	25.501	-18.212	-20.475	-0.792	-13.978
Q1 2019	30.551	0.334	-19.621	-1.346	9.917
Q2 2019	27.129	-38.748	-21.285	-0.628	-33.532
Q3 2019	31.248	1.313	-20.094	-0.852	11.616
Q4 2019	29.188	-68.463	-18.838	-0.66	-58.773
Q1 2020	37.656	-61.58	-20.951	-1.05	-45.924
Q2 2020	34.277	-1.664	-21.784	-0.974	9.855
Q3 2020	37.895	6.842	-28.722	-0.728	15.287
Q4 2020	35.124	-5.498	-17.703	-1.034	10.89
Q1 2021	43.658	4.953	-28.305	-1.265	19.04

Other points of note in the Quarter 1 2021 results are:

Current account (see Table 1.3)

Merchandise exports were €68,821m in the first quarter of 2021, an increase of €6,293m compared with the first quarter of 2020. Merchandise imports were €25,164m in the first quarter of 2021, an increase of just €292m over the same period in 2020.
Service exports at €62,212m increased by €6,456m compared to the first quarter of 2020, mainly due to higher Computer services exports (which increased by €6,114m).
Service imports at €57,259m were down €60,077m over the same period in 2020, mainly due to lower R&D related IP imports.
Ireland’s trade balance at €48,611m, all goods and services exports less all goods and services imports, increased by €72,534m in the first quarter of 2021 over the same period in 2020.
Investment income earned abroad at €28,681m, increased by €2,858m compared with one year earlier while investment income payable to foreign investors at €57,149m increased by €10,130m. The overall income balance for the quarter at -€29,570m decreased by €7,569m compared with the same period in 2020.

	Direct Investment	Portfolio Investment	Other Investment	Reserve Assets	Balance on Financial Account
Q4 2018	-22.275	25.931	-63.023	0.57	-58.797
Q1 2019	10.253	5.354	-7.115	-0.007	8.485
Q2 2019	-53.151	-17.922	17.619	0.116	-53.339
Q3 2019	-2.461	-8.325	12.318	0.144	1.677
Q4 2019	-59.467	31.046	-30.496	0.169	-58.748
Q1 2020	-52.356	-85.894	79.837	0.139	-58.274
Q2 2020	-58.414	48.251	10.867	-0.014	0.689
Q3 2020	-6.514	0.883	16.066	0.76	11.196
Q4 2020	7.085	16.074	-11.948	0.41	11.621
Q1 2021	22.855	12.427	-23.254	0.173	12.201

Financial account (see Tables 1.4 and 1.5)

Direct investment in Ireland decreased by €7,441m in the first quarter of 2021. This was due to decreased other capital of €10,852m which were offset by increased reinvested earnings of €3,244m and increased equity investment of €166m. Direct investment abroad increased by €15,414m in the quarter, mainly due to increased equity investment €9,725m and reinvested earnings abroad of €7,898m.
Portfolio investment in foreign assets increased by €71,379m in the quarter mainly due to increased investment in foreign equity of €68,971m while investment in foreign debt instruments increased by just €2,407m. Portfolio investment in Ireland increased by €58,952m, mainly due to increased purchase of Irish equity of €44,991m. Investment in Irish debt was €13,961m.
Other investment assets and liabilities increased by €11,227m and €34,482m respectively in the first quarter of 2021.

Table 1.2 Summary of Current, Capital and Financial Account Balances

Table 1.2 Summary of Current, Capital and Financial Account Balances														€ million
Period							Balance on Current Account	Balance on Capital Account	Direct Investment	Portfolio Investment	Other² Investment	Reserve Assets	Balance on Financial Account	Net errors and omissions
		Merchandise¹	services and income balance
			Services	Primary Income	Secondary Income	Total
2002	Year	36,982	-13,619	-21,910	-1,116	-36,645	337	588	-19,444	37,979	-19,425	-343	-1,233	-2,158
2003	Year	32,954	-10,903	-20,035	-1,303	-32,241	713	445	-15,270	39,977	-22,751	-1,770	186	-972
2004	Year	34,588	-12,141	-21,345	-1,255	-34,741	-153	355	23,095	-14,287	-12,170	-1,177	-4,539	-4,741
2005	Year	32,184	-13,655	-22,786	-1,769	-38,210	-6,026	340	37,660	-52,698	15,364	-1,472	-1,147	4,539
2006	Year	27,194	-12,313	-22,723	-2,063	-37,099	-9,905	299	15,841	-8,135	-16,635	-87	-9,016	590
2007	Year	28,698	-12,384	-26,630	-2,510	-41,524	-12,826	115	-1,621	7,283	-20,086	12	-14,413	-1,702
2008	Year	32,622	-16,468	-25,141	-2,729	-44,339	-11,716	119	23,288	45,749	-85,932	78	-16,817	-5,220
2009	Year	38,752	-15,823	-27,885	-2,948	-46,656	-7,904	14	-245	-22,626	19,433	-79	-3,517	4,373
2010	Year	41,288	-13,421	-27,178	-2,701	-43,300	-2,012	91	-16,318	-85,965	90,883	-5	-11,404	-9,484
2011	Year	41,257	-9,096	-32,312	-2,660	-44,067	-2,810	234	-18,698	-26,908	31,086	-329	-14,849	-12,272
2012	Year	36,896	-6,282	-33,939	-2,609	-42,830	-5,934	86	-20,497	-767	10,952	-12	-10,324	-4,476
2013	Year	34,506	-718	-28,069	-2,931	-31,718	2,787	-936	-16,137	35,737	-15,467	10	4,143	2,289
2014	Year	40,731	-5,546	-30,341	-2,750	-38,637	2,093	-6,769	-5,279	-27,862	20,506	136	-12,498	-7,824
2015	Year	113,394	-37,715	-60,785	-3,338	-101,838	11,556	-1,303	-44,510	-88,281	138,621	494	6,321	-3,930
2016	Year	106,088	-63,735	-49,912	-3,813	-117,460	-11,373	-4,331	-8,430	27,711	-29,073	1,456	-8,335	7,368
2017	Year	109,119	-43,491	-61,063	-3,106	-107,660	1,457	-25,855	-48,583	-57,643	89,127	399	-16,700	7,697
2018	Year	109,446	-16,342	-73,440	-3,656	-93,438	16,007	-52,019	14,540	37,841	-93,670	762	-40,525	-4,514
2019	Year	118,116	-105,564	-79,838	-3,486	-188,888	-70,772	-35,310	-104,826	10,153	-7,674	422	-101,925	4,156
2020	Year	144,952	-61,900	-89,160	-3,786	-154,846	-9,892	-15,526	-110,199	-20,686	94,822	1,295	-34,768	-9,349

2015	Quarter 1	26,790	-5,794	-16,013	-986	-22,793	3,998	-707	38,272	-72,519	36,581	108	2,441	-849
	Quarter 2	26,894	-8,024	-11,422	-794	-20,240	6,654	-226	-2,591	13,757	-9,476	307	1,996	-4,432
	Quarter 3	29,755	-7,431	-17,792	-593	-25,816	3,939	100	9,983	-17,663	14,477	-24	6,773	2,735
	Quarter 4	29,955	-16,466	-15,558	-965	-32,989	-3,035	-470	-90,174	-11,856	97,039	103	-4,889	-1,384
2016	Quarter 1	27,290	-14,564	-11,001	-1,020	-26,585	705	-2,670	12,279	-7,497	1,420	1,095	7,297	9,262
	Quarter 2	24,440	-16,885	-11,342	-768	-28,995	-4,555	-586	-293	2,933	-14,069	-224	-11,653	-6,513
	Quarter 3	26,315	-12,294	-14,425	-820	-27,539	-1,224	161	-10,522	10,385	-7,662	379	-7,420	-6,357
	Quarter 4	28,043	-19,992	-13,144	-1,205	-34,341	-6,299	-1,236	-9,894	21,890	-8,762	206	3,441	10,976
2017	Quarter 1	25,187	-3,437	-15,139	-616	-19,192	5,994	-8,538	-2,307	-15,609	6,190	-101	-11,827	-9,283
	Quarter 2	24,546	-38,743	-16,392	-1,170	-56,305	-31,759	-12,079	-21,375	-41,427	28,371	163	-34,268	9,570
	Quarter 3	28,663	260	-13,902	-626	-14,268	14,395	-4,640	6,488	452	6,860	235	14,035	4,279
	Quarter 4	30,723	-1,571	-15,630	-694	-17,895	12,827	-598	-31,389	-1,059	47,706	102	15,360	3,131
2018	Quarter 1	28,481	632	-18,056	-974	-18,398	10,082	-109	15,545	19,454	-34,009	4	995	-8,979
	Quarter 2	28,125	-41	-17,298	-1,060	-18,399	9,726	59	10,072	-15,921	19,446	-8	13,589	3,804
	Quarter 3	27,339	1,279	-17,611	-830	-17,162	10,177	63	11,198	8,377	-16,084	196	3,688	-6,553
	Quarter 4	25,501	-18,212	-20,475	-792	-39,479	-13,978	-52,032	-22,275	25,931	-63,023	570	-58,797	7,214
2019	Quarter 1	30,551	334	-19,621	-1,346	-20,633	9,917	-6,936	10,253	5,354	-7,115	-7	8,485	5,504
	Quarter 2	27,129	-38,748	-21,285	-628	-60,661	-33,532	-17,385	-53,151	-17,922	17,619	116	-53,339	-2,422
	Quarter 3	31,248	1,313	-20,094	-852	-19,633	11,616	-5,093	-2,461	-8,325	12,318	144	1,677	-4,847
	Quarter 4	29,188	-68,463	-18,838	-660	-87,961	-58,773	-5,896	-59,467	31,046	-30,496	169	-58,748	5,921
2020	Quarter 1	37,656	-61,580	-20,951	-1,050	-83,581	-45,924	-3,846	-52,356	-85,894	79,837	139	-58,274	-8,504
	Quarter 2	34,277	-1,664	-21,784	-974	-24,422	9,855	-7,085	-58,414	48,251	10,867	-14	689	-2,081
	Quarter 3	37,895	6,842	-28,722	-728	-22,608	15,287	-1,298	-6,514	883	16,066	760	11,196	-2,793
	Quarter 4	35,124	-5,498	-17,703	-1,034	-24,235	10,890	-3,297	7,085	16,074	-11,948	410	11,621	4,029
2021	Quarter 1	43,658	4,953	-28,305	-1,265	-24,617	19,040	-178	22,855	12,427	-23,254	173	12,201	-6,661
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.

Open in Excel: International Accounts Q1 2021 Table 1.2 (XLS 16KB)

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Table 1.3 Current and Capital Accounts

Table 1.3 Current and Capital Accounts												€ million
		2019	2020	2019				2020				2021
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1
Current Account
Merchandise¹	Exports	225,944	244,809	56,594	53,367	57,160	58,823	62,528	57,033	61,349	63,899	68,821
	Imports	107,828	99,856	26,043	26,238	25,912	29,635	24,872	22,756	23,454	28,774	25,164

International trade	Exports	152,535	161,894	37,577	38,540	37,629	38,789	44,206	37,848	40,540	39,300	40,454
	Imports	87,486	83,022	20,980	21,286	21,210	24,010	20,894	17,714	19,659	24,755	20,583
Goods for processing	Exports	66,264	73,945	16,809	12,669	18,249	18,537	14,737	16,728	18,535	23,945	25,257
	Imports	16,394	14,851	3,991	4,106	3,487	4,810	3,230	4,722	3,322	3,577	4,114
Other conceptual adjustments	Exports	-6,813	-5,901	-525	-975	-2,399	-2,914	-83	-884	-1,316	-3,618	-2290
	Imports	3,948	1,983	1,072	846	1,215	815	747	320	474	442	466
Merchanting (net export)	Exports	13,960	14,873	2,734	3,133	3,681	4,412	3,668	3,342	3,591	4,272	5,400

Services	Exports	230,152	244,069	50,306	56,837	58,071	64,938	55,756	55,356	57,818	75,139	62,212
	Imports	335,716	305,968	49,973	95,585	56,757	133,401	117,336	57,021	50,975	80,636	57,259
Repairs and Processing	Exports	2,049	2,707	483	507	474	585	609	695	696	707	560
	Imports	6,261	7,377	1,552	1,319	1,393	1,997	1,530	1,874	1,586	2,387	1,963
Transport	Exports	8,041	2,535	1,151	2,189	2,961	1,740	1,088	298	806	343	162
	Imports	4,236	3,914	1,040	1,050	1,016	1,130	987	956	901	1,070	1,053
Tourism and Travel ²	Exports	5,786	1,645	952	1,636	1,973	1,225	769	277	313	286	125
	Imports	7,374	2,072	1,454	1,907	2,448	1,565	1,227	193	299	353	114
Insurance	Exports	10,271	11,284	2,451	2,512	2,528	2,780	2,767	2,658	2,731	3,128	3,145
	Imports	8,361	9,282	2,235	2,049	2,154	1,923	2,479	2,299	2,056	2,448	2,499
Financial services	Exports	17,620	19,129	4,217	4,249	4,395	4,759	3,936	4,350	4,973	5,870	5,491
	Imports	15,686	16,943	3,719	3,759	3,898	4,310	3,691	4,009	4,281	4,962	4,537
Royalties/Licences	Exports	10,482	13,085	2,069	2,618	2,652	3,143	2,723	2,847	3,004	4,511	2,761
	Imports	85,851	84,421	19,014	20,794	21,610	24,433	18,935	18,468	16,200	30,818	22,461
of which: Pharmaceutical products and preparations	Exports	140	118	37	38	32	33	20	30	23	45	25
	Imports	21,940	14,391	4,519	6,059	5,489	5,873	2,936	3,726	2,936	4,793	3,201
Information and communication	Exports	4,784	8,107	1,048	1,249	1,234	1,253	1,714	1,672	1,717	3,004	1,685
	Imports	50,680	56,855	11,111	11,677	*	*	*	*	*	*	*
Communications	Exports	484	259	128	127	119	110	71	63	63	62	60
	Imports	568	442	156	141	144	127	108	115	107	112	110
Computer services³	Exports	118,459	134,182	26,425	29,070	28,773	34,191	30,633	30,566	31,858	41,125	36,747
	Imports	6,161	6,306	1,472	1,462	1,602	1,625	1,471	1,644	1,541	1,650	1,623
Business services	Exports	48,106	48,214	11,111	11,640	11,954	13,401	11,681	10,682	10,798	15,053	10,298
	Imports	199,717	173,741	18,974	62,744	22,110	95,889	86,528	27,143	23,628	36,442	22,560
Research and development	Exports	5,487	9,198	1,101	1,104	1,222	2,060	1,411	1,228	1,137	5,422	1,001
	Imports	137,006	104,183	4,790	47,772	7,103	77,341	*	10,809	6,705	*	6,625
of which: IP related	Exports	933	4,710	104	32	102	695	*	*	121	*	*
	Imports	116,004	79,374	576	*	1,312	*	*	3,983	699	*	*
Operational leasing	Exports	19,425	18,122	4,753	4,932	4,836	4,904	4,971	4,715	4,261	4,175	4,162
	Imports	1,185	1,183	296	298	299	292	291	291	297	304	311
Misc. business services⁴	Exports	23,194	20,897	5,256	5,605	5,896	6,437	5,299	4,740	5,401	5,457	5,134
	Imports	61,525	68,376	13,888	14,674	14,707	18,256	*	16,043	16,626	*	15,624
Other services n.e.s.	Exports	8,854	11,033	1,320	2,289	2,241	3,004	1,479	2,922	2,576	4,056	2,863
	Imports	1,500	1,472	356	359	383	402	381	319	378	394	339

Merchandise and Services - Total	Exports	456,097	488,878	106,901	110,204	115,231	123,761	118,284	112,390	119,167	139,037	131,033
	Imports	443,544	405,825	76,016	121,822	82,669	163,037	142,207	79,777	74,430	109,411	82,422

Trade Balance	Net	12,553	83,054	30,884	-11,618	32,562	-39,275	-23,923	32,613	44,737	29,627	48,611

Primary Income	Inflows	110,428	96,204	26,570	28,415	28,753	26,690	26,331	22,167	23,161	24,545	29,096
	Outflows	190,265	185,365	46,191	49,700	48,847	45,527	47,282	43,952	51,883	42,248	57,401
Compensation of Employees	Inflows	524	245	131	131	131	131	131	38	38	38	38
	Outflows	676	538	160	168	172	176	181	114	115	128	127
Investment Income	Inflows	108,314	94,447	26,088	27,934	28,244	26,048	25,823	21,765	22,723	24,136	28,681
	Outflows	189,116	184,388	45,949	49,332	48,583	45,252	47,019	43,639	51,713	42,017	57,149
Direct investment income	Inflows	22,562	20,945	5,578	5,156	6,114	5,714	5,931	2,520	5,165	7,329	10,211
	Outflows	91,727	98,970	22,971	22,690	23,933	22,133	24,411	21,441	30,895	22,223	36,614

of which: Manufacturing	Outflows	51,990	60,584	14,455	9,922	15,030	12,583	14,854	13,064	18,753	13,913	25,413
Information and communication	Outflows	21,185	25,759	4,656	7,206	4,095	5,228	5,530	5,897	8,505	5,827	8,201

Income on equity	Inflows	17,540	18,104	4,220	3,749	4,851	4,720	5,026	1,778	4,535	6,765	9,679
	Outflows	80,815	87,854	20,484	20,100	20,990	19,241	21,654	18,582	27,957	19,661	33,954
Dividends & distributed	Inflows	4,217	1,723	583	991	1,867	776	271	202	558	692	1,781
branch profits	Outflows	20,739	24,304	10,786	1,761	3,295	4,897	12,235	2,444	4,198	5,427	30,710
Reinvested earnings	Inflows	13,323	16,383	3,638	2,758	2,983	3,944	4,756	1,576	3,977	6,074	7,898
	Outflows	60,074	63,551	9,697	18,338	17,695	14,344	9,420	16,138	23,759	14,234	3,244
Income on debt	Inflows	5,022	2,841	1,357	1,407	1,264	994	905	742	630	564	533
	Outflows	10,915	11,117	2,488	2,591	2,944	2,892	2,757	2,859	2,938	2,563	2,660
Portfolio investment income	Inflows	64,862	57,853	15,500	17,394	16,496	15,472	15,431	14,914	14,161	13,347	14,876
	Outflows	81,164	71,839	18,466	22,834	20,682	19,182	19,219	18,454	17,674	16,492	17,187
Income on equity	Inflows	20,904	17,447	4,908	6,697	5,281	4,018	4,288	4,894	4,528	3,737	5,080
	Outflows	63,596	55,018	14,201	18,441	16,190	14,764	14,854	14,255	13,563	12,346	13,016
Income on debt	Inflows	43,958	40,406	10,592	10,697	11,215	11,454	11,143	10,020	9,633	9,610	9,797
	Outflows	17,568	16,821	4,264	4,393	4,492	4,419	4,365	4,199	4,111	4,146	4,171
Other investment income	Inflows	20,890	15,647	5,010	5,384	5,634	4,862	4,460	4,331	3,397	3,459	3,594
	Outflows	16,224	13,579	4,512	3,807	3,967	3,938	3,389	3,744	3,144	3,302	3,348
Other primary income	Inflows	1,588	1,512	351	349	378	510	377	364	400	371	376
	Outflows	474	438	82	201	92	99	82	198	55	103	124

Secondary Income	Inflows	5,182	5,867	1,046	1,101	1,295	1,740	1,535	1,407	1,437	1,488	1,254
	Outflows	8,668	9,651	2,392	1,729	2,146	2,401	2,584	2,381	2,164	2,522	2,519

Income Balance	Net	-83,323	-92,946	-20,967	-21,913	-20,945	-19,498	-22,001	-22,758	-29,450	-18,737	-29,570

Current Account - Total	Inflows	571,707	590,947	134,516	139,720	145,279	152,192	146,149	135,964	143,764	165,070	161,382
	Outflows	642,477	600,839	124,599	173,251	133,662	210,965	192,073	126,109	128,477	154,180	142,342

Current Account Balance	Net	-70,772	-9,892	9,917	-33,532	11,616	-58,773	-45,924	9,855	15,287	10,890	19,040

Capital Account Balance	Net	-35,310	-15,526	-6,936	-17,385	-5,093	-5,896	-3,846	-7,085	-1,298	-3,297	-178

Memorandum Item:
Government Income	Inflows	101	61	20	41	20	20	14	16	15	16	10
	Outflows	3,362	2,304	885	874	854	749	639	584	530	551	791
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.

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Table 1.4 Financial Account

Table 1.4 Financial Account¹												€ million
		2019	2020	2019				2020				2021
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1

Direct Investment	Abroad	28,659	-39,395	8,802	-60,335	27,346	52,846	-19,929	-9,038	-26,157	15,729	15,414
	In Ireland	133,485	70,803	-1,451	-7,184	29,807	112,313	32,426	49,377	-19,643	8,643	-7,441

Equity	Abroad	110,305	1,195	38,409	4,454	-1,537	68,979	9,219	306	-21,242	12,912	9,725
	In Ireland	11,151	57,027	33,178	-45,050	-5,148	28,171	412	72,518	-4,676	-11,227	166
Reinvested Earnings	Abroad	13,323	16,383	3,638	2,758	2,983	3,944	4,756	1,576	3,977	6,074	7,898
	In Ireland	60,074	63,551	9,697	18,338	17,695	14,344	9,420	16,138	23,759	14,234	3,244
Other Capital	Abroad	-94,970	-56,973	-33,245	-67,547	25,900	-20,078	-33,904	-10,920	-8,892	-3,257	-2,209
	In Ireland	62,259	-49,775	-44,327	19,528	17,260	69,798	22,594	-39,280	-38,726	5,637	-10,852

Portfolio Investment	Assets	337,400	232,073	43,145	43,684	132,148	118,423	-111,058	150,484	47,018	145,629	71,379
	Liabilities	327,248	252,758	37,791	61,607	140,473	87,377	-25,164	102,233	46,135	129,554	58,952

Equity	Assets	84,467	96,234	15,303	5,422	19,015	44,727	-12,040	20,852	30,650	56,772	68,971
	Liabilities	255,808	180,664	27,489	46,353	102,601	79,365	-33,558	68,806	34,378	111,038	44,991
Debt Instruments	Assets	252,932	135,838	27,841	38,262	113,133	73,696	-99,018	129,632	16,368	88,856	2,407
	Liabilities	71,440	72,093	10,302	15,254	37,872	8,012	8,393	33,427	11,757	18,516	13,961
Bonds and notes	Assets	215,708	87,513	52,638	39,811	65,223	58,036	-35,191	27,808	30,251	64,645	21,058
	Liabilities	68,519	64,901	10,068	13,844	36,281	8,326	5,390	22,242	13,625	23,644	13,050
Money market instruments	Assets	37,224	48,325	-24,796	-1,550	47,910	15,660	-63,828	101,824	-13,883	24,212	-18,651
	Liabilities	2,919	7,192	234	1,409	1,590	-314	3,003	11,185	-1,868	-5,128	910

Other Investment	Assets	122,455	219,368	54,799	37,690	52,758	-22,792	188,038	-40,302	33,205	38,427	11,227
	Liabilities	130,130	124,547	61,914	20,071	40,440	7,705	108,201	-51,169	17,139	50,376	34,482

Loans, currency and deposits	Assets	137,435	181,537	56,936	27,227	43,952	9,320	116,539	-22,176	35,923	51,251	1,001
	Liabilities	71,378	61,032	37,460	7,030	7,442	19,446	59,429	-26,653	-4,219	32,475	39,821
Other²	Assets	-14,980	37,832	-2,137	10,463	8,806	-32,112	71,499	-18,126	-2,718	-12,823	10,226
	Liabilities	58,750	63,514	24,453	13,040	32,998	-11,741	48,772	-24,516	21,358	17,900	-5,340

Reserve Assets		422	1,295	-7	116	144	169	139	-14	760	410	173

Monetary gold		0	0	0	0	0	0	0	0	0	0	0
Special drawing rights		13	14	2	2	2	7	2	12	0	0	0
Reserve position in the IMF		0	-7	0	0	0	0	0	-7	0	0	0
Foreign exchange		66	118	127	-102	82	-41	-148	-10	110	166	370
Other		343	1,169	-136	216	60	203	285	-9	650	243	-197

Balance on Financial Account		-101,925	-34,768	8,485	-53,339	1,677	-58,748	-58,274	689	11,196	11,621	12,201

Net errors and omissions		4,156	-9,349	5,504	-2,422	-4,847	5,921	-8,504	-2,081	-2,793	4,029	-6,661
Memorandum Item:
Government financial	Assets	-1,895	-130	-1,871	-399	-251	626	-1,247	136	-163	1,144	-1,808
transactions	Liabilities	234	237	5,024	-876	50	-3,964	5,631	9,564	-2,987	-11,971	5,947
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.

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Table 1.5 Current, Capital and Financial Account activity classified by Institutional Sector

Table 1.5 – Current, Capital and Financial Account activity classified by Institutional Sector												€ million
		2019	2020	2019				2020				2021
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1
Current Account - Total	Inflows	571,707	590,947	134,516	139,720	145,279	152,192	146,149	135,964	143,764	165,070	161,382
	Outflows	642,477	600,839	124,599	173,251	133,662	210,965	192,073	126,109	128,477	154,180	142,342

Merchandise¹	Exports	225,944	244,809	56,594	53,367	57,160	58,823	62,528	57,033	61,349	63,899	68,821
	Imports	107,828	99,856	26,043	26,238	25,912	29,635	24,872	22,756	23,454	28,774	25,164

Services	Exports	230,152	244,069	50,306	56,837	58,071	64,938	55,756	55,356	57,818	75,139	62,212
	Imports	335,716	305,968	49,973	95,585	56,757	133,401	117,336	57,021	50,975	80,636	57,259

General Government	Exports	461	449	115	114	115	117	114	112	109	114	117
	Imports	30	26	7	7	7	9	7	6	6	7	7
Monetary Authority ²	Exports	0	0	0	0	0	0	0	0	0	0	0
	Imports	0	0	0	0	0	0	0	0	0	0	0
Monetary Financial Institutions³	Exports	4,169	4,947	977	1,026	1,052	1,114	1,125	1,066	1,311	1,445	1,480
	Imports	3,062	3,160	696	735	776	855	836	783	765	776	713
Other Sectors⁴	Exports	225,523	238,672	49,215	55,697	56,904	63,707	54,517	54,178	56,397	73,580	60,615
	Imports	332,624	302,781	49,269	94,843	55,974	132,538	116,492	56,231	50,204	79,854	56,538
of which:
Other Financial Intermediaries	Exports	28,889	30,750	6,931	7,076	7,077	7,805	7,194	7,239	7,606	8,711	8,735
	Imports	28,762	30,633	7,087	7,022	7,231	7,422	7,311	7,302	7,477	8,543	8,434
Non-Financial Companies⁵	Exports	196,633	207,921	42,284	48,620	49,827	55,902	47,323	46,938	48,791	64,869	51,880
	Imports	303,862	272,149	42,182	87,821	48,743	125,116	109,181	48,930	42,727	71,311	48,104

Primary Income	Inflows	110,428	96,204	26,570	28,415	28,753	26,690	26,331	22,167	23,161	24,545	29,096
	Outflows	190,265	185,365	46,191	49,700	48,847	45,527	47,282	43,952	51,883	42,248	57,401

General Government	Inflows	101	61	20	41	20	20	14	16	15	16	10
	Outflows	3,362	2,304	885	874	854	749	639	584	530	551	791
Monetary Authority ²	Inflows	417	361	109	107	102	99	96	92	89	84	81
	Outflows	0	0	0	0	0	0	0	0	0	0	0
Monetary Financial Institutions³	Inflows	10,113	2,981	2,464	2,786	2,848	2,015	1,548	1,260	465	-292	487
	Outflows	9,647	3,811	2,275	2,659	2,515	2,198	1,972	1,013	502	324	228
Other Sectors⁴	Inflows	99,795	92,802	23,976	25,481	25,783	24,555	24,673	20,800	22,593	24,736	28,518
	Outflows	177,255	179,249	43,031	46,167	45,477	42,580	44,670	42,354	50,851	41,374	56,382
of which:
Other Financial Intermediaries	Inflows	77,210	70,077	18,607	20,741	19,658	18,204	18,427	17,923	16,940	16,787	19,456
	Outflows	78,524	69,856	18,961	21,474	19,925	18,164	18,086	17,610	17,406	16,754	18,902
Non-Financial Companies⁵	Inflows	22,585	22,724	5,369	4,740	6,125	6,351	6,246	2,877	5,652	7,949	9,062
	Outflows	98,732	109,394	24,070	24,694	25,552	24,416	26,585	24,744	33,445	24,620	37,480

Secondary Income	Inflows	5,182	5,867	1,046	1,101	1,295	1,740	1,535	1,407	1,437	1,488	1,254
	Outflows	8,668	9,651	2,392	1,729	2,146	2,401	2,584	2,381	2,164	2,522	2,519

General Government	Inflows	168	63	5	5	69	89	5	24	5	29	5
	Outflows	2,971	3,148	1,180	463	750	578	882	822	557	887	1,110
Monetary Authority ²	Inflows	0	0	0	0	0	0	0	0	0	0	0
	Outflows	0	0	0	0	0	0	0	0	0	0	0
Monetary Financial Institutions³	Inflows	0	0	0	0	0	0	0	0	0	0	0
	Outflows	0	0	0	0	0	0	0	0	0	0	0
Other Sectors⁴	Inflows	5,013	5,804	1,041	1,096	1,225	1,651	1,530	1,383	1,432	1,459	1,249
	Outflows	5,697	6,502	1,212	1,266	1,396	1,823	1,702	1,558	1,608	1,634	1,410
of which:
Other Financial Intermediaries	Inflows	3,856	4,697	752	806	936	1,362	1,240	1,111	1,160	1,186	962
	Outflows	3,856	4,697	752	806	936	1,362	1,240	1,111	1,160	1,186	962
Non-Financial Companies⁵	Inflows	1,160	1,109	290	290	290	290	290	273	273	273	287
	Outflows	1,842	1,806	460	460	460	462	462	448	448	448	448

Balance on Current Account		-70,772	-9,892	9,917	-33,532	11,616	-58,773	-45,924	9,855	15,287	10,890	19,040

Balance on Capital Account		-35,310	-15,526	-6,936	-17,385	-5,093	-5,896	-3,846	-7,085	-1,298	-3,297	-178

Financial Account⁶
Direct investment	Abroad	28,659	-39,395	8,802	-60,335	27,346	52,846	-19,929	-9,038	-26,157	15,729	15,414
	In Ireland	133,485	70,803	-1,451	-7,184	29,807	112,313	32,426	49,377	-19,643	8,643	-7,441

General Government	Abroad	-3	2	*	*	0	-1	-1	*	*	1	-1
	In Ireland	*	0	0	0	1	*	0	0	0	0	0
Monetary Authority ²	Abroad	0	0	0	0	0	0	0	0	0	0	0
	In Ireland	0	0	0	0	0	0	0	0	0	0	0
Monetary Financial Institutions³	Abroad	-383	-1,963	*	*	126	390	-264	*	*	573	-41
	In Ireland	*	2,413	1,756	570	1,175	*	126	-173	780	1,680	-202
Other Sectors⁴	Abroad	29,044	-37,435	8,931	-59,564	27,221	52,456	-19,665	-6,794	-26,131	15,155	15,455
	In Ireland	130,028	68,390	-3,207	-7,754	28,631	112,358	32,300	49,550	-20,423	6,963	-7,240
of which:
Other Financial Intermediaries	Abroad	3,041	-1,101	1,176	647	119	1,099	219	1,767	-701	-2,386	3,220
	In Ireland	13,265	-3,199	-23,780	1,466	9,335	26,244	-4,303	-5,178	5,737	545	5,328
Non-Financial Companies⁵	Abroad	26,004	-36,334	7,755	-60,211	27,102	51,358	-19,884	-8,561	-25,430	17,541	12,235
	In Ireland	116,763	71,589	20,573	-9,220	19,296	86,114	36,603	54,728	-26,160	6,418	-12,567

Portfolio investment	Assets	337,400	232,073	43,145	43,684	132,148	118,423	-111,058	150,484	47,018	145,629	71,379
	Liabilities	327,248	252,758	37,791	61,607	140,473	87,377	-25,164	102,233	46,135	129,554	58,952

General Government	Assets	-1,269	-291	-94	-754	-153	-268	-103	-1	-177	-10	-657
	Liabilities	1,597	1,888	5,135	-327	789	-4,000	5,965	10,233	-2,672	-11,638	3,983
Monetary Authority ²	Assets	-569	-3,042	-644	147	-170	98	-552	-772	-821	-897	-845
	Liabilities	0	0	0	0	0	0	0	0	0	0	0
Monetary Financial Institutions³	Assets	43,296	38,615	-11,442	-8,765	47,853	15,650	-45,458	85,305	-24,874	23,642	-16,464
	Liabilities	58,438	83,112	-15,499	14,021	48,591	11,325	-1,135	47,516	-978	37,709	-51,167
Other Sectors⁴	Assets	295,944	196,792	55,325	53,057	84,619	102,943	-64,945	65,952	72,891	122,894	89,344
	Liabilities	267,211	167,759	48,154	47,913	91,093	80,051	-29,994	44,484	49,786	103,483	106,135
of which:
Other Financial Intermediaries	Assets	297,316	196,817	*	*	*	*	-64,945	*	72,891	*	89,343
	Liabilities	268,021	206,584	50,869	52,662	92,333	72,157	-31,231	89,001	49,512	99,302	109,223
Non-Financial Companies⁵	Assets	-1,373	-24	*	*	*	*	0	*	0	*	2
	Liabilities	-810	-38,825	-2,715	-4,749	-1,240	7,894	1,237	-44,516	273	4,181	-3,088

Other investment	Assets	122,455	219,368	54,799	37,690	52,758	-22,792	188,038	-40,302	33,205	38,427	11,227
	Liabilities	130,130	124,547	61,914	20,071	40,440	7,705	108,201	-51,169	17,139	50,376	34,482

General Government	Assets	-768	-182	-1,821	325	-138	866	-1,176	158	-128	964	-1,217
	Liabilities	-1,362	-1,650	-111	-548	-739	36	-334	-668	-315	-333	1,963
Monetary Authority ²	Assets	21,399	9,126	5,276	4,961	2,610	8,552	785	13,856	807	-6,322	13,680
	Liabilities	422	-1,004	-1,253	716	17	942	-1,627	-44	505	162	-247
Monetary Financial Institutions³	Assets	75,634	108,552	28,645	29,113	24,127	-6,251	91,057	-50,939	22,588	45,846	-27,705
	Liabilities	43,469	46,983	25,741	3,298	16,706	-2,276	36,990	-16,435	-2,200	28,628	7,162
Other Sectors⁴	Assets	26,189	101,872	22,698	3,291	26,159	-25,959	97,372	-3,377	9,938	-2,061	26,469
	Liabilities	87,599	80,218	37,536	16,605	24,455	9,003	73,172	-34,022	19,150	21,918	25,604
of which:
Other Financial Intermediaries	Assets	24,953	80,322	18,794	10,252	14,761	-18,854	93,995	-7,939	6,652	-12,386	37,247
	Liabilities	75,648	60,863	40,794	15,915	14,365	4,574	70,032	-34,301	17,738	7,394	34,493
Non-Financial Companies⁵	Assets	1,237	21,550	3,904	-6,961	11,399	-7,105	3,377	4,562	3,286	10,325	-10,777
	Liabilities	11,951	19,355	-3,258	690	10,090	4,429	3,140	279	1,412	14,524	-8,889

Reserve Assets		422	1,295	-7	116	144	169	139	-14	760	410	173

Balance on Financial Account		-101,925	-34,768	8,485	-53,339	1,677	-58,748	-58,274	689	11,196	11,621	12,201
Net errors and omissions		4,156	-9,349	5,504	-2,422	-4,847	5,921	-8,504	-2,081	-2,793	4,029	-6,661
¹Adjusted for balance of payments purposes.
²Central Bank of Ireland.
³Covering licensed credit institutions and money market funds.
⁴Other sectors includes financial corporations other than the Monetary Authority and Monetary Financial Institutions, non-financial service and manufacturing companies and other industrial enterprises as well as (implicitly) households (see Background Notes). The gross liabilities to non-residents of financial corporations covered in other sectors tend to be very significant.
⁵Including households.
⁶See footnote 1 on Table 1.4.

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Table 1.6 Current and Capital Accounts showing geographical detail

Table 1.6 Current and Capital Accounts showing geographical¹ detail												€ million
		2019	2020	2019				2020				2021
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1

Current Account - Total	Inflows	571,707	590,947	134,516	139,720	145,279	152,192	146,149	135,964	143,764	165,070	161,382
	Outflows	642,477	600,839	124,599	173,251	133,662	210,965	192,073	126,109	128,477	154,180	142,342

Merchandise²	Exports	225,944	244,809	56,594	53,367	57,160	58,823	62,528	57,033	61,349	63,899	68,821
	Imports	107,828	99,856	26,043	26,238	25,912	29,635	24,872	22,756	23,454	28,774	25,164
EMU	Exports	61,973	71,481	17,546	14,699	15,085	14,643	17,246	16,424	18,010	19,801	19,632
	Imports	33,667	31,037	7,730	8,451	7,647	9,839	8,333	6,117	7,260	9,327	7,639
Non-EMU	Exports	163,972	173,328	39,048	38,668	42,075	44,181	45,282	40,609	43,339	44,098	49,190
	Imports	74,161	68,820	18,314	17,786	18,265	19,796	16,539	16,639	16,194	19,448	17,524
EU	Exports	69,066	78,343	19,302	16,309	16,894	16,561	18,879	18,077	19,609	21,778	21,663
	Imports	36,804	34,327	8,463	9,267	8,352	10,722	9,176	6,893	8,019	10,239	8,575
Non-EU	Exports	156,879	166,465	37,292	37,058	40,266	42,263	43,649	38,956	41,740	42,120	47,159
	Imports	71,025	65,530	17,581	16,971	17,560	18,913	15,696	15,863	15,436	18,535	16,588

Services	Exports	230,152	244,069	50,306	56,837	58,071	64,938	55,756	55,356	57,818	75,139	62,212
	Imports	335,716	305,968	49,973	95,585	56,757	133,401	117,336	57,021	50,975	80,636	57,259
EMU	Exports	54,661	60,689	12,077	13,988	13,668	14,928	14,029	14,029	14,579	18,052	15,764
	Imports	56,628	32,406	12,406	12,687	14,748	16,787	7,336	8,842	6,816	9,412	6,933
Non-EMU	Exports	175,492	183,383	38,229	42,849	44,403	50,011	41,728	41,329	43,239	57,087	46,448
	Imports	279,088	273,564	37,567	82,898	42,009	116,614	110,000	48,178	44,161	71,225	50,327
EU	Exports	66,985	74,714	14,745	17,041	16,738	18,461	17,289	17,067	17,862	22,496	19,520
	Imports	59,974	35,791	13,078	13,541	15,618	17,737	8,162	9,604	7,636	10,389	7,745
Non-EU	Exports	163,166	169,357	35,561	39,796	41,332	46,477	38,468	38,291	39,956	52,642	42,692
	Imports	275,742	270,180	36,895	82,044	41,139	115,664	109,174	47,417	43,341	70,248	49,515

Primary Income	Inflows	110,428	96,204	26,570	28,415	28,753	26,690	26,331	22,167	23,161	24,545	29,096
	Outflows	190,265	185,365	46,191	49,700	48,847	45,527	47,282	43,952	51,883	42,248	57,401
EMU	Inflows	38,951	32,522	10,201	8,627	9,855	10,268	9,172	6,770	8,011	8,569	8,829
	Outflows	58,256	49,140	14,372	15,952	16,730	11,202	14,145	11,596	13,210	10,189	14,697
Non-EMU	Inflows	71,477	63,681	16,369	19,788	18,898	16,422	17,159	15,397	15,150	15,975	20,267
	Outflows	132,010	136,225	31,819	33,748	32,117	34,326	33,137	32,356	38,673	32,059	42,704
EU	Inflows	42,272	35,571	11,006	9,471	10,709	11,086	10,001	7,556	8,786	9,228	9,596
	Outflows	60,632	50,708	15,036	16,674	17,317	11,605	14,549	11,986	13,598	10,575	15,375
Non-EU	Inflows	68,156	60,633	15,564	18,944	18,044	15,604	16,330	14,612	14,375	15,316	19,499
	Outflows	129,636	134,657	31,156	33,027	31,530	33,923	32,733	31,966	38,285	31,673	42,025

Secondary Income	Inflows	5,182	5,867	1,046	1,101	1,295	1,740	1,535	1,407	1,437	1,488	1,254
	Outflows	8,668	9,651	2,392	1,729	2,146	2,401	2,584	2,381	2,164	2,522	2,519
EMU	Inflows	2,094	2,698	388	485	459	762	565	724	627	782	628
	Outflows	2,747	3,335	546	654	616	931	722	881	794	938	784
Non-EMU	Inflows	3,088	3,168	658	616	836	978	969	683	810	706	626
	Outflows	5,921	6,316	1,846	1,075	1,530	1,470	1,862	1,500	1,370	1,584	1,736
EU	Inflows	2,508	3,002	455	558	606	889	634	808	706	854	662
	Outflows	5,482	6,272	1,693	1,071	1,329	1,389	1,598	1,599	1,310	1,765	1,838
Non-EU	Inflows	2,674	2,865	591	543	689	851	901	599	731	634	592
	Outflows	3,184	3,379	698	658	817	1,011	986	782	854	757	682

Balance on Current Account		-70,772	-9,892	9,917	-33,532	11,616	-58,773	-45,924	9,855	15,287	10,890	19,040

Balance on Capital Account		-35,310	-15,526	-6,936	-17,385	-5,093	-5,896	-3,846	-7,085	-1,298	-3,297	-178
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 (EMU-19). For years 2018 and 2019, the term ‘EU’ relates to transactions between residents of Ireland and other residents of the EU-28 area. From Q12020, the term ‘EU’ relates to transactions between residents of Ireland and other residents of the EU-27 area, which excludes the United Kingdom following their withdrawal from the European Union on 1 February 2020.
²Adjusted for balance of payments purposes.

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Table 1.7 Financial Account showing geographical detail

Table 1.7 Financial Account¹ showing geographical² detail												€ million
		2019	2020	2019				2020				2021
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1

Direct Investment	Abroad	28,659	-39,395	8,802	-60,335	27,346	52,846	-19,929	-9,038	-26,157	15,729	15,414
	In Ireland	133,485	70,803	-1,451	-7,184	29,807	112,313	32,426	49,377	-19,643	8,643	-7,441

EMU	Abroad	29,216	-118,662	17,487	-30,634	-10,286	52,649	598	-98,008	-8,433	-12,819	2,735
	In Ireland	56,873	8,299	68,338	-36,405	29,343	-4,403	-7,530	-5,716	6,830	14,715	668
Non-EMU	Abroad	-555	79,265	-8,684	-29,701	37,633	197	-20,528	88,970	-17,724	28,547	12,679
	In Ireland	76,613	62,505	-69,788	29,220	465	116,716	39,956	55,093	-26,473	-6,071	-8,109
EU	Abroad	21,357	-117,751	17,699	-30,322	-10,273	44,253	520	-97,912	-8,493	-11,866	2,127
	In Ireland	53,379	10,557	66,299	-37,599	29,139	-4,460	-7,375	-4,880	7,221	15,591	1,426
Non-EU	Abroad	7,303	78,356	-8,896	-30,013	37,619	8,593	-20,449	88,874	-17,664	27,595	13,286
	In Ireland	80,107	60,247	-67,750	30,415	669	116,773	39,801	54,257	-26,864	-6,947	-8,867

Portfolio Investment	Assets	337,400	232,073	43,145	43,684	132,148	118,423	-111,058	150,484	47,018	145,629	71,379
	Liabilities	327,248	252,758	37,791	61,607	140,473	87,377	-25,164	102,233	46,135	129,554	58,952

EMU	Assets	119,848	34,340	20,173	18,974	37,073	43,628	-39,733	34,254	19,509	20,310	-1,317
	Liabilities	133,971	112,814	4,043	30,036	66,147	33,745	-9,168	40,220	32,724	49,038	26,051
Non-EMU	Assets	217,551	197,732	22,971	24,710	95,075	74,795	-71,325	116,230	27,509	125,318	72,696
	Liabilities	193,276	139,945	33,748	31,570	74,326	53,632	-15,996	62,013	13,412	80,516	32,901
EU	Assets	119,582	41,719	20,528	17,294	38,875	42,885	-41,969	38,804	18,610	26,274	3,202
	Liabilities	139,385	119,596	4,809	31,528	66,750	36,298	-9,983	43,483	32,534	53,562	27,437
Non-EU	Assets	217,818	190,355	22,617	26,390	93,273	75,538	-69,089	111,680	28,409	119,355	68,177
	Liabilities	187,863	133,163	32,982	30,079	73,723	51,079	-15,181	58,750	13,601	75,993	31,515

Other Investment³	Assets	122,455	219,368	54,799	37,690	52,758	-22,792	188,038	-40,302	33,205	38,427	11,227
	Liabilities	130,130	124,547	61,914	20,071	40,440	7,705	108,201	-51,169	17,139	50,376	34,482

EMU	Assets	110,914	94,040	49,403	13,905	45,962	1,644	55,996	6,897	24,612	6,535	29,040
	Liabilities	54,123	40,939	31,242	8,187	12,961	1,733	19,381	-810	2,978	19,390	13,034
Non-EMU	Assets	11,539	125,328	5,395	23,784	6,796	-24,436	132,042	-47,199	8,593	31,892	-17,813
	Liabilities	76,005	83,608	30,671	11,883	27,479	5,972	88,821	-50,359	14,160	30,986	21,448
EU	Assets	113,488	97,818	50,478	12,628	45,250	5,132	57,525	8,989	23,651	7,653	32,843
	Liabilities	60,445	40,993	32,364	11,145	13,689	3,247	19,345	330	2,459	18,859	18,145
Non-EU	Assets	8,968	121,550	4,321	25,062	7,508	-27,923	130,513	-49,291	9,554	30,774	-21,616
	Liabilities	69,683	83,553	29,550	8,925	26,751	4,457	88,856	-51,499	14,680	31,516	16,336

Reserve Assets		422	1,295	-7	116	144	169	139	-14	760	410	173

Balance on Financial Account		-101,925	-34,768	8,485	-53,339	1,677	-58,748	-58,274	689	11,196	11,621	12,201

Net errors and omissions		4,156	-9,349	5,504	-2,422	-4,847	5,921	-8,504	-2,081	-2,793	4,029	-6,661
¹See footnote 1 on Table 1.4.
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 (EMU-19). For years 2018 and 2019, the term ‘EU’ relates to transactions between residents of Ireland and other residents of the EU-28 area. From Q12020, the term ‘EU’ relates to transactions between residents of Ireland and other residents of the EU-27 area, which excludes the United Kingdom following their withdrawal from the European Union on 1 February 2020.
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.

Open in Excel: International Accounts Q1 2021 Table 1.7 (XLS 15KB)

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International Accounts Q1 2021 Final

Balance of International Payments

Balance of International Payments

Current account balance of €19bn in Quarter 1 2021

Current account (see Table 1.3)

Financial account (see Tables 1.4 and 1.5)

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