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International Accounts Q1 2022 Final

Balance of International Payments

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Current account balance of €17bn in Quarter 1 2022

Table 1.1 Balance of International Payments				€ million
	Merchandise Balance	Services and Income Balance	Current Account Balance	Current Account Balance as % of GDP
Q1 2021	42,057	-25,003	17,054	16.8
Q1 2022	47,784	-30,742	17,043	14.6

Q1-Q4 2020	142,213	-167,725	-25,510	-6.8
Q1-Q4 2021	167,308	-106,649	60,659	14.2

Open in Excel: International Accounts Q1 2022 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 €17bn in the first quarter of 2022. Increased merchandise exports and computer services exports have contributed to the current account surplus.

	Current Account
Q4 2019	-63.2714340305583
Q1 2020	-51.0529116089118
Q2 2020	13.2746204617677
Q3 2020	9.87812279310573
Q4 2020	0.808201291059934
Q1 2021	16.8480902885159
Q2 2021	16.1198977086449
Q3 2021	19.7322326507056
Q4 2021	4.21303948476478
Q1 2022	14.5664035700284

	Merchandise	Services	Primary Income	Secondary Income	Balance on Current Account
Q4 2019	29.188	-68.463	-18.838	-0.66	-58.773
Q1 2020	36.139	-59.876	-22.71	-1.05	-47.496
Q2 2020	34.266	0.39	-22.443	-0.974	11.239
Q3 2020	37.465	2.502	-29.253	-0.727	9.987
Q4 2020	34.343	-14.731	-17.819	-1.034	0.76
Q1 2021	42.057	5.491	-29.221	-1.273	17.054
Q2 2021	40.137	5.203	-27.987	-0.994	16.359
Q3 2021	44.823	5.146	-26.622	-0.68	22.666
Q4 2021	40.291	-15.263	-19.019	-1.43	4.58
Q1 2022	47.784	5.442	-34.986	-1.198	17.043

Other points of note in the Quarter 1 2022 results are:

Current account (see Table 1.3)

Merchandise exports were €78,473m in the first quarter of 2022, an increase of €10,832m compared with the first quarter of 2021. Merchandise imports were €30,688m in the first quarter of 2022, an increase of €5,105m over the same period in 2021.
Service exports at €77,956m increased by €14,571m compared to the first quarter of 2021, mainly due to higher Computer services exports and business services exports (which increased by €8,354m and €4,315m respectively).
Service imports at €72,514m were up €14,619m over the same period in 2021, mainly due to higher Royalties licences/imports (which increased by €6,328m) and higher Business services imports.
Ireland’s trade balance at €53,227m, all goods and services exports less all goods and services imports, increased by €5,679m in the first quarter of 2022 over the same period in 2021.
Investment income earned abroad at €31,182m, increased by €1,191m compared with one year earlier while investment income payable to foreign investors at €66,337m increased by €6,961m. The overall income balance for the quarter at -€36,184m decreased by €5,690m compared with the same period in 2021.

	Direct Investment	Portfolio Investment	Other Investment	Reserve Assets	Balance on Financial Account
Q4 2019	-59.467	31.046	-30.496	0.169	-58.748
Q1 2020	-53.14	-86.105	81.1	0.139	-58.007
Q2 2020	-51.183	49.413	12.891	-0.014	11.107
Q3 2020	-12.829	-2.917	16.683	0.761	1.697
Q4 2020	4.172	16.581	-10.78	0.396	10.371
Q1 2021	17.099	8.338	-14.651	0.173	10.959
Q2 2021	4.815	-4.667	22.982	0.072	23.203
Q3 2021	7.198	-10.624	13.61	4.081	14.264
Q4 2021	24.134	0.872	-13.21	0.654	12.45
Q1 2022	9.8	-36.091	37.62	-0.129	11.2

Financial account (see Tables 1.4 and 1.5)

Direct investment in Ireland decreased marginally by €465m in the first quarter of 2022. This was due to increased other capital of €14,774m and increased reinvested earnings of €11,065m which were offset by decreased equity investment of €26,304m.
Direct investment abroad increased by €9,335m in the quarter, mainly due to equity investment and reinvested earnings abroad which increased by €3,668m and €7,044m respectively.
Portfolio investment in foreign assets decreased by €51,325m in the quarter due to a decrease in investment in foreign debt instruments of €62,274m which was offset by increased investment in foreign equity of €10,948m. Portfolio investment in Ireland decreased by €15,234m, due to a decrease in investment in foreign equity of €13,521m and foreign debt instruments of €1,713m.
Other investment assets and liabilities increased by €83,939m and €46,319m respectively in the first quarter of 2022.

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	142,213	-71,715	-92,225	-3,785	-167,725	-25,510	-11,877	-112,980	-23,028	99,894	1,282	-34,832	2,555
2021	Year	167,308	577	-102,849	-4,377	-106,649	60,659	3,712	53,246	-6,081	8,731	4,980	60,876	-3,495

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	36,139	-59,876	-22,710	-1,050	-83,636	-47,496	-3,061	-53,140	-86,105	81,100	139	-58,007	-7,450
	Quarter 2	34,266	390	-22,443	-974	-23,027	11,239	-7,552	-51,183	49,413	12,891	-14	11,107	7,420
	Quarter 3	37,465	2,502	-29,253	-727	-27,478	9,987	-2,080	-12,829	-2,917	16,683	761	1,697	-6,210
	Quarter 4	34,343	-14,731	-17,819	-1,034	-33,584	760	816	4,172	16,581	-10,780	396	10,371	8,795
2021	Quarter 1	42,057	5,491	-29,221	-1,273	-25,003	17,054	3,016	17,099	8,338	-14,651	173	10,959	-9,111
	Quarter 2	40,137	5,203	-27,987	-994	-23,778	16,359	989	4,815	-4,667	22,982	72	23,203	5,855
	Quarter 3	44,823	5,146	-26,622	-680	-22,156	22,666	-257	7,198	-10,624	13,610	4,081	14,264	-8,145
	Quarter 4	40,291	-15,263	-19,019	-1,430	-35,712	4,580	-36	24,134	872	-13,210	654	12,450	7,906
2022	Quarter 1	47,784	5,442	-34,986	-1,198	-30,742	17,043	217	9,800	-36,091	37,620	-129	11,200	-6,060
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 2022 Table 1.2 (XLS 17KB)

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Table 1.3 Current and Capital Accounts

Table 1.3 Current and Capital Accounts												€ million
		2020	2021	2020				2021				2022
Item		Year	Year	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1
Current Account
Merchandise¹	Exports	242,379	279,360	60,990	56,753	61,252	63,384	67,641	67,679	71,697	72,343	78,473
	Imports	100,166	112,050	24,851	22,487	23,787	29,041	25,583	27,542	26,874	32,051	30,688

International trade	Exports	162,131	165,254	44,224	37,865	40,543	39,499	40,353	40,586	41,079	43,236	52,257
	Imports	83,628	98,674	20,894	17,714	20,028	24,992	21,397	25,839	22,962	28,476	27,941
Goods for processing	Exports	69,852	100,928	14,434	16,235	17,556	21,627	23,144	22,174	25,080	30,530	18,619
	Imports	9,191	9,597	2,163	3,271	1,949	1,808	2,205	1,777	3,116	2,499	1,703
Other conceptual adjustments	Exports	-3,092	-10,293	-793	-438	-143	-1,718	-235	-2652	-1591	-5815	-1276
	Imports	7,347	3,778	1,793	1,502	1,811	2,241	1981	-75	796	1076	1045
Merchanting (net export)	Exports	13,489	23,472	3,125	3,091	3,296	3,977	4,380	7,571	7,129	4,392	8,874

Services	Exports	254,749	293,629	57,484	56,676	59,696	80,893	63,385	70,835	74,001	85,408	77,956
	Imports	326,465	293,053	117,360	56,287	57,194	95,624	57,895	65,632	68,855	100,671	72,514
Repairs and Processing	Exports	1,991	1,718	469	524	502	496	364	373	404	577	534
	Imports	7,361	8,189	1,526	1,870	1,582	2,383	1,978	1,824	1,836	2,551	2,158
Transport	Exports	2,607	2,656	1,103	317	813	374	167	305	1,234	950	810
	Imports	4,088	4,756	995	984	944	1,165	1,090	1,098	1,180	1,388	1,235
Tourism and Travel ²	Exports	2,095	2,272	1,068	224	376	427	350	297	715	910	806
	Imports	2,263	2,166	1,470	90	447	256	131	182	860	993	1,001
Insurance	Exports	11,415	13,681	2,808	2,685	2,756	3,166	3,251	3,261	3,439	3,730	3,558
	Imports	9,401	10,568	2,497	2,317	2,091	2,496	2,593	2,797	2,526	2,652	3,375
Financial services	Exports	19,437	22,153	3,959	4,440	5,054	5,984	5,507	5,713	5,681	5,252	4,981
	Imports	17,235	19,040	3,690	4,080	4,340	5,125	4,620	4,853	4,816	4,751	4,647
Royalties/Licences	Exports	12,720	15,444	2,631	2,753	2,913	4,423	3,223	3,515	3,677	5,029	3,882
	Imports	84,341	112,818	18,863	18,517	16,216	30,745	22,529	26,420	27,664	36,205	28,857
of which: Pharmaceutical products and preparations	Exports	134	157	17	37	28	52	32	38	30	57	36
	Imports	14,401	18,252	2,829	3,749	2,930	4,893	2,919	4,824	3,654	6,855	4,008
Information and communication	Exports	7,884	9,655	1,655	1,614	1,662	2,953	1,980	2,227	2,244	3,204	2,351
	Imports	57,320	80,386	*	12,489	10,931	*	*	*	*	*	*
Communications	Exports	247	237	68	60	60	59	58	60	60	59	59
	Imports	680	750	167	175	166	172	179	188	193	190	196
Computer services³	Exports	137,415	172,856	31,441	31,374	32,667	41,933	37,464	42,044	42,611	50,737	45,818
	Imports	8,342	8,342	1,978	2,152	2,048	2,164	1,788	2,113	2,118	2,323	2,387
Business services	Exports	56,768	49,858	12,697	11,615	12,227	20,229	10,404	12,071	13,304	14,079	14,719
	Imports	191,063	124,506	85,743	25,739	28,921	50,660	22,571	25,691	27,169	49,075	28,167
Research and development	Exports	17,665	6,300	2,365	2,182	2,482	10,636	1,157	1,435	1,695	2,013	1,166
	Imports	122,478	45,993	*	9,391	12,412	*	6,419	7,167	8,099	24,308	8,392
of which: IP related	Exports	13,109	1,297	*	*	1,459	8,957	216	337	535	209	101
	Imports	97,690	18,286	*	2,577	*	*	758	644	*	*	881
Operational leasing	Exports	17,638	16,888	4,870	4,607	4,149	4,012	4,056	4,206	4,285	4,341	4,360
	Imports	1,061	1,687	260	261	266	274	375	410	419	483	429
Misc. business services⁴	Exports	21,464	26,670	5,461	4,826	5,596	5,581	5,191	6,429	7,325	7,725	9,193
	Imports	67,523	76,826	*	16,087	16,242	*	15,777	18,114	18,650	24,285	19,346
Other services n.e.s.	Exports	10,055	12,754	1,241	2,684	2,328	3,802	2,597	3,196	2,875	4,086	2,789
	Imports	1,692	1,919	432	362	439	459	416	466	493	544	491

Merchandise and Services - Total	Exports	497,130	572,988	118,474	113,429	120,949	144,278	131,026	138,514	145,697	157,751	156,429
	Imports	426,630	405,102	142,211	78,773	80,981	124,665	83,478	93,173	95,729	132,722	103,202

Trade Balance	Net	70,498	167,884	-23,737	34,656	39,967	19,612	47,548	45,340	49,968	25,028	53,227

Primary Income	Inflows	100,717	121,332	26,514	22,824	23,805	27,574	30,406	30,614	26,449	33,863	31,664
	Outflows	192,940	224,180	49,223	45,267	53,058	45,392	59,627	58,601	53,071	52,881	66,649
Compensation of Employees	Inflows	245	152	131	38	38	38	38	38	38	38	105
	Outflows	548	460	183	116	117	132	130	96	115	119	153
Investment Income	Inflows	98,959	119,648	26,005	22,422	23,367	27,165	29,991	30,206	26,004	33,447	31,182
	Outflows	191,924	222,936	48,950	44,933	52,875	45,166	59,376	58,143	52,832	52,585	66,337
Direct investment income	Inflows	22,321	34,786	5,575	2,558	5,233	8,955	9,972	8,172	4,306	12,336	8,655
	Outflows	102,690	128,904	25,687	21,994	31,143	23,866	36,746	34,090	28,748	29,320	42,320

of which: Manufacturing	Outflows	61,622	85,405	14,786	13,379	18,851	14,606	25,697	20,957	19,673	19,078	31,050
Information and communication	Outflows	27,955	26,694	6,829	6,340	8,716	6,070	7,856	7,857	4,474	6,507	7,078

Income on equity	Inflows	19,476	33,012	4,668	1,816	4,603	8,389	9,534	7,814	3,838	11,826	8,105
	Outflows	91,869	119,571	23,022	19,197	28,276	21,374	34,177	31,774	26,395	27,225	39,819
Dividends & distributed	Inflows	3,447	14,151	324	314	687	2,122	8,008	1,111	*	*	1,171
branch profits	Outflows	21,521	72,543	11,791	2,010	3,769	3,951	35,860	6,409	13,661	16,613	28,791
Reinvested earnings	Inflows	16,029	18,861	4,344	1,502	3,917	6,266	1,526	6,703	*	*	6,934
	Outflows	70,348	47,029	11,231	17,188	24,507	17,422	-1,683	25,365	12,734	10,613	11,028
Income on debt	Inflows	2,846	1,774	907	742	630	567	437	358	468	511	550
	Outflows	10,820	9,333	2,665	2,797	2,866	2,492	2,569	2,316	2,353	2,095	2,500
Portfolio investment income	Inflows	60,516	68,461	15,981	15,448	14,640	14,447	16,117	18,004	17,711	16,629	17,361
	Outflows	75,725	80,915	19,850	19,292	18,619	17,964	19,338	20,462	21,080	20,035	20,840
Income on equity	Inflows	19,900	28,082	4,841	5,377	4,906	4,776	6,208	8,007	7,476	6,391	7,087
	Outflows	58,926	63,967	15,471	15,080	14,494	13,881	15,215	16,343	16,838	15,571	16,707
Income on debt	Inflows	40,614	40,379	11,139	10,071	9,734	9,670	9,909	9,997	10,235	10,238	10,274
	Outflows	16,798	16,948	4,379	4,212	4,124	4,083	4,122	4,119	4,242	4,465	4,133
Other investment income	Inflows	16,123	16,403	4,450	4,416	3,494	3,763	3,903	4,030	3,988	4,482	5,166
	Outflows	13,511	13,118	3,414	3,647	3,114	3,336	3,293	3,591	3,004	3,230	3,178
Other primary income	Inflows	1,512	1,529	377	364	400	371	376	370	406	377	377
	Outflows	469	783	90	217	67	95	121	362	123	177	159

Secondary Income	Inflows	6,009	6,632	1,570	1,443	1,472	1,524	1,311	1,399	1,924	1,998	1,807
	Outflows	9,793	11,009	2,620	2,416	2,200	2,557	2,584	2,393	2,604	3,428	3,005

Income Balance	Net	-96,010	-107,225	-23,759	-23,417	-29,981	-18,853	-30,494	-28,981	-27,302	-20,448	-36,184

Current Account - Total	Inflows	603,855	700,951	146,558	137,696	146,226	173,375	162,743	170,527	174,070	193,611	189,899
	Outflows	629,365	640,292	194,054	126,456	136,240	172,615	145,689	154,168	151,404	189,031	172,856

Current Account Balance	Net	-25,510	60,659	-47,496	11,239	9,987	760	17,054	16,359	22,666	4,580	17,043

Capital Account Balance	Net	-11,877	3,712	-3,061	-7,552	-2,080	816	3,016	989	-257	-36	217

Memorandum Item:
Government Income	Inflows	61	39	14	16	15	16	10	10	13	6	6
	Outflows	2,304	2,565	639	584	530	551	789	653	526	597	814
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
		2020	2021	2020				2021				2022
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1

Direct Investment	Abroad	-45,942	49,077	-22,703	-4,483	-29,716	10,960	-34	11,833	-1,233	38,511	9,335
	In Ireland	67,039	-4,168	30,438	46,699	-16,887	6,789	-17,134	7,019	-8,431	14,378	-465

Equity	Abroad	-330	47,180	6,730	6,253	-23,616	10,303	2,899	2,774	13,143	28,364	3,668
	In Ireland	52,339	-17,847	-1,076	69,807	-6,950	-9,442	223	3,962	-12,296	-9,736	-26,304
Reinvested Earnings	Abroad	16,415	19,304	4,441	1,598	4,013	6,363	1,637	6,814	*	*	7,044
	In Ireland	69,248	47,604	11,226	17,203	24,554	16,265	-1,610	25,459	12,900	10,855	11,065
Other Capital	Abroad	-62,029	-17,407	-33,874	-12,336	-10,114	-5,705	-4,570	2,245	*	*	-1,377
	In Ireland	-54,548	-33,923	20,288	-40,310	-34,492	-34	-15,745	-22,403	-9,035	13,260	14,774

Portfolio Investment	Assets	229,649	353,036	-111,040	151,789	43,197	145,703	68,715	89,870	48,775	145,676	-51,325
	Liabilities	252,677	359,117	-24,935	102,376	46,114	129,122	60,377	94,537	59,399	144,804	-15,234

Equity	Assets	91,987	197,349	-12,144	20,544	26,591	56,996	68,248	40,779	24,322	64,000	10,948
	Liabilities	179,890	282,525	-33,639	68,917	34,437	110,175	45,431	73,872	50,760	112,462	-13,521
Debt Instruments	Assets	137,662	155,686	-98,896	131,245	16,606	88,707	467	49,091	24,453	81,675	-62,274
	Liabilities	72,787	76,592	8,703	33,459	11,678	18,947	14,946	20,665	8,639	32,342	-1,713
Bonds and notes	Assets	88,902	113,436	-35,161	29,335	30,403	64,325	18,369	31,799	32,062	31,206	-7,535
	Liabilities	64,771	82,158	5,440	22,279	13,646	23,406	13,879	24,493	9,358	34,428	-1,132
Money market instruments	Assets	48,760	42,250	-63,736	101,911	-13,797	24,382	-17,902	17,293	-7,610	50,469	-54,738
	Liabilities	8,017	-5,567	3,264	11,180	-1,968	-4,459	1,067	-3,828	-719	-2,087	-581

Other Investment	Assets	223,606	-8,242	190,483	-40,290	35,450	37,963	17,920	-16,940	15,365	-24,587	83,939
	Liabilities	123,712	-16,973	109,383	-53,181	18,767	48,743	32,571	-39,922	1,755	-11,377	46,319

Loans, currency and deposits	Assets	184,833	49,563	119,317	-21,705	36,756	50,465	1,416	30,327	10,227	7,593	29,240
	Liabilities	60,025	45,666	60,633	-28,197	-2,584	30,173	37,224	-4,842	-5,967	19,251	8,058
Other²	Assets	38,776	-57,806	71,167	-18,585	-1,305	-12,501	16,502	-47,266	5,138	-32,180	54,700
	Liabilities	63,684	-62,637	48,749	-24,984	21,350	18,569	-4,653	-35,080	7,723	-30,627	38,260

Reserve Assets		1,282	4,980	139	-14	761	396	173	72	4081	654	-129

Monetary gold		0	176	0	0	0	0	0	0	49	127	135
Special drawing rights		14	4,082	2	12	0	0	0	0	4003	79	0
Reserve position in the IMF		-7	0	0	-7	0	0	0	0	0	0	0
Foreign exchange		118	564	-148	-10	110	166	370	-199	-127	520	-333
Other		1,155	156	285	-10	650	230	-198	271	156	-73	69

Balance on Financial Account		-34,832	60,876	-58,007	11,107	1,697	10,371	10,959	23,203	14,264	12,450	11,200

Net errors and omissions		2,555	-3,495	-7,450	7,420	-6,210	8,795	-9,111	5,855	-8,145	7,906	-6,060
Memorandum Item:
Government financial	Assets	-332	-1,821	-1,247	125	-280	1,070	-1,808	-85	-171	243	-474
transactions	Liabilities	238	2,978	5,631	9,565	-2,987	-11,971	6,728	-110	-1,415	-2,225	369
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 Sector¹												€ million
		2020	2021	2020				2021				2022
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1
Current Account - Total	Inflows	603,855	700,951	146,558	137,696	146,226	173,375	162,743	170,527	174,070	193,611	189,899
	Outflows	629,365	640,292	194,054	126,456	136,240	172,615	145,689	154,168	151,404	189,031	172,856

Merchandise²	Exports	242,379	279,360	60,990	56,753	61,252	63,384	67,641	67,679	71,697	72,343	78,473
	Imports	100,166	112,050	24,851	22,487	23,787	29,041	25,583	27,542	26,874	32,051	30,688

Services	Exports	254,749	293,629	57,484	56,676	59,696	80,893	63,385	70,835	74,001	85,408	77,956
	Imports	326,465	293,053	117,360	56,287	57,194	95,624	57,895	65,632	68,855	100,671	72,514

General Government	Exports	450	448	114	113	109	114	110	111	111	116	115
	Imports	26	29	7	6	6	7	7	7	7	8	19
Monetary Authority ³	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 Institutions⁴	Exports	4,947	5,352	1,125	1,066	1,311	1,445	1,480	1,438	1,432	1,002	1,077
	Imports	3,144	2,784	836	783	765	760	713	698	676	697	691
Other Sectors⁵	Exports	249,354	287,831	56,245	55,498	58,276	79,335	61,796	69,286	72,458	84,291	76,765
	Imports	323,294	290,239	116,517	55,497	56,423	94,857	57,174	64,927	68,172	99,966	71,803
of which:
Other Financial Intermediaries	Exports	30,281	36,124	7,034	7,052	7,493	8,702	8,825	8,908	9,004	9,387	8,664
	Imports	30,644	49,319	7,212	7,300	7,485	8,647	8,529	7,818	8,494	24,478	9,084
Non-Financial Companies⁶	Exports	219,072	251,707	49,211	48,445	50,783	70,633	52,971	60,379	63,453	74,904	68,100
	Imports	292,650	240,922	109,305	48,197	48,938	86,210	48,646	57,110	59,678	75,488	62,719

Primary Income	Inflows	100,717	121,332	26,514	22,824	23,805	27,574	30,406	30,614	26,449	33,863	31,664
	Outflows	192,940	224,180	49,223	45,267	53,058	45,392	59,627	58,601	53,071	52,881	66,649

General Government	Inflows	61	39	14	16	15	16	10	10	13	6	6
	Outflows	2,304	2,565	639	584	530	551	789	653	526	597	814
Monetary Authority ³	Inflows	361	277	96	92	89	84	81	74	67	55	47
	Outflows	0	0	0	0	0	0	0	0	0	0	0
Monetary Financial Institutions⁴	Inflows	2,980	1,868	1,548	1,260	464	-292	487	323	295	763	898
	Outflows	3,723	1,018	1,944	998	519	262	222	413	166	217	347
Other Sectors⁵	Inflows	97,314	119,149	24,856	21,456	23,237	27,765	29,828	30,208	26,074	33,039	30,713
	Outflows	186,914	220,597	46,640	43,685	52,009	44,580	58,616	57,536	52,378	52,067	65,488
of which:
Other Financial Intermediaries	Inflows	73,263	88,316	18,976	18,552	17,526	18,209	20,958	22,852	22,469	22,037	22,869
	Outflows	73,628	90,026	18,788	18,320	18,102	18,418	21,202	23,994	23,000	21,830	22,534
Non-Financial Companies⁶	Inflows	24,052	30,833	5,880	2,905	5,711	9,556	8,870	7,356	3,605	11,002	7,844
	Outflows	113,286	130,571	27,852	25,365	33,907	26,162	37,414	33,542	29,378	30,237	42,954

Secondary Income	Inflows	6,009	6,632	1,570	1,443	1,472	1,524	1,311	1,399	1,924	1,998	1,807
	Outflows	9,793	11,009	2,620	2,416	2,200	2,557	2,584	2,393	2,604	3,428	3,005

General Government	Inflows	63	227	5	24	5	29	5	26	181	15	6
	Outflows	3,148	3,930	882	822	557	887	1,109	852	693	1,276	993
Monetary Authority ³	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 Institutions⁴	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 Sectors⁵	Inflows	5,947	6,406	1,566	1,419	1,468	1,494	1,306	1,373	1,743	1,984	1,801
	Outflows	6,644	7,081	1,737	1,594	1,643	1,670	1,475	1,542	1,912	2,152	2,012
of which:
Other Financial Intermediaries	Inflows	4,839	5,202	1,276	1,146	1,195	1,222	1,005	1,072	1,442	1,683	1,501
	Outflows	4,839	5,202	1,276	1,146	1,195	1,222	1,005	1,072	1,442	1,683	1,501
Non-Financial Companies⁶	Inflows	1,109	1,204	290	273	273	273	301	301	301	301	299
	Outflows	1,806	1,876	462	448	448	448	469	469	469	469	511

Balance on Current Account		-25,510	60,659	-47,496	11,239	9,987	760	17,054	16,359	22,666	4,580	17,043

Balance on Capital Account		-11,877	3,712	-3,061	-7,552	-2,080	816	3,016	989	-257	-36	217

Financial Account⁷
Direct investment	Abroad	-45,942	49,077	-22,703	-4,483	-29,716	10,960	-34	11,833	-1,233	38,511	9,335
	In Ireland	67,039	-4,168	30,438	46,699	-16,887	6,789	-17,134	7,019	-8,431	14,378	-465

General Government	Abroad	2	-3	*	*	*	*	*	*	*	*	0
	In Ireland	0	0	0	0	0	0	0	0	0	0	0
Monetary Authority ³	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 Institutions⁴	Abroad	-1,998	-296	*	*	*	*	*	*	*	*	570
	In Ireland	2,583	-1,670	306	-184	794	1,667	-201	254	471	-2,194	-77
Other Sectors⁵	Abroad	-43,943	49,376	-22,454	-2,188	-29,692	10,391	15	12,074	-1,339	38,626	8,766
	In Ireland	64,456	-2,498	30,130	46,884	-17,680	5,122	-16,933	6,765	-8,902	16,572	-387
of which:
Other Financial Intermediaries	Abroad	-1,108	32,779	225	1,771	-697	-2,407	3,133	1,326	*	*	1,426
	In Ireland	-5,107	64,164	-4,252	-5,898	6,443	-1,400	6,251	6,945	20,170	30,798	7,893
Non-Financial Companies⁶	Abroad	-42,835	16,597	-22,679	-3,959	-28,995	12,798	-3,118	10,748	*	*	7,340
	In Ireland	69,563	-66,662	34,382	52,782	-24,123	6,522	-23,184	-180	-29,072	-14,226	-8,280

Portfolio investment	Assets	229,649	353,036	-111,040	151,789	43,197	145,703	68,715	89,870	48,775	145,676	-51,325
	Liabilities	252,677	359,117	-24,935	102,376	46,114	129,122	60,377	94,537	59,399	144,804	-15,234

General Government	Assets	-291	-1,167	-103	-1	-177	-10	-657	-62	-254	-194	0
	Liabilities	1,888	1,148	5,965	10,233	-2,672	-11,638	4,765	251	-1,394	-2,474	366
Monetary Authority ³	Assets	-3,042	-3,116	-552	-772	-821	-897	-845	-1,185	-1,112	26	-1,462
	Liabilities	0	0	0	0	0	0	0	0	0	0	0
Monetary Financial Institutions⁴	Assets	35,762	16,486	-45,578	86,461	-28,846	23,725	-16,704	6,848	-23,866	50,208	-59,065
	Liabilities	83,581	-12,590	-926	47,513	-1,079	38,073	-51,053	1,827	-12,335	48,971	-37,630
Other Sectors⁵	Assets	197,222	340,831	-64,806	66,100	73,042	122,886	86,920	84,269	74,007	95,635	9,202
	Liabilities	167,209	370,559	-29,974	44,631	49,866	102,686	106,665	92,459	73,128	98,307	22,030
of which:
Other Financial Intermediaries	Assets	197,276	340,951	*	*	*	*	86,945	84,299	74,039	95,668	9,231
	Liabilities	206,642	348,433	-31,217	89,015	49,527	99,317	109,843	91,615	*	*	23,408
Non-Financial Companies⁶	Assets	-54	-120	*	*	*	*	-25	-30	-32	-33	-29
	Liabilities	-39,433	22,126	1,243	-44,384	339	3,369	-3,178	844	*	*	-1,378

Other investment	Assets	223,606	-8,242	190,483	-40,290	35,450	37,963	17,920	-16,940	15,365	-24,587	83,939
	Liabilities	123,712	-16,973	109,383	-53,181	18,767	48,743	32,571	-39,922	1,755	-11,377	46,319

General Government	Assets	-41	-654	-1,144	126	-103	1,080	-1,151	-23	83	437	-474
	Liabilities	-1,650	1,830	-334	-668	-315	-333	1,963	-361	*	*	*
Monetary Authority ³	Assets	9,125	36,925	784	13,856	807	-6,322	13,680	11,121	2,631	9,493	3,787
	Liabilities	409	5,296	-1,198	865	616	126	119	605	*	*	*
Monetary Financial Institutions⁴	Assets	108,748	-79,321	91,312	-51,014	22,604	45,846	-27,727	-10,169	8,141	-49,566	61,534
	Liabilities	47,305	-51,036	37,151	-16,542	-2,204	28,900	7,475	-7,404	-4,267	-46,840	38,673
Other Sectors⁵	Assets	105,773	34,811	99,529	-3,257	12,142	-2,641	33,119	-17,868	4,511	15,049	19,091
	Liabilities	77,648	26,935	73,763	-36,836	20,670	20,051	23,012	-32,763	1,872	34,814	7,409
of which:
Other Financial Intermediaries	Assets	83,498	38,027	96,286	-7,618	6,870	-12,040	43,545	-19,142	1,867	11,757	28,257
	Liabilities	61,919	16,025	69,944	-34,394	17,665	8,704	31,279	-37,712	-1,356	23,814	15,169
Non-Financial Companies⁶	Assets	22,275	-3,216	3,243	4,361	5,272	9,399	-10,426	1,274	2,644	3,292	-9,166
	Liabilities	15,729	10,910	3,819	-2,442	3,005	11,347	-8,267	4,949	3,228	11,000	-7,760

Reserve Assets		1,282	4,980	139	-14	761	396	173	72	4,081	654	-129

Balance on Financial Account		-34,832	60,876	-58,007	11,107	1,697	10,371	10,959	23,203	14,264	12,450	11,200
Net errors and omissions		2,555	-3,495	-7,450	7,420	-6,210	8,795	-9,111	5,855	-8,145	7,906	-6,060
¹Includes transactions which cannot be shown due to confidentiality constraints.
²Adjusted for balance of payments purposes.
³Central Bank of Ireland.
⁴Covering licensed credit institutions and money market funds.
⁵Other 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.
⁶Including households.
⁷See 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
		2020	2021	2020				2021				2022
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1

Current Account - Total	Inflows	603,855	700,951	146,558	137,696	146,226	173,375	162,743	170,527	174,070	193,611	189,899
	Outflows	629,365	640,292	194,054	126,456	136,240	172,615	145,689	154,168	151,404	189,031	172,856

Merchandise²	Exports	242,379	279,360	60,990	56,753	61,252	63,384	67,641	67,679	71,697	72,343	78,473
	Imports	100,166	112,050	24,851	22,487	23,787	29,041	25,583	27,542	26,874	32,051	30,688
EMU	Exports	71,303	92,437	17,387	16,338	17,898	19,680	19,953	22,221	22,814	27,449	24,318
	Imports	31,159	38,602	8,332	6,008	7,528	9,291	7,631	10,984	9,136	10,851	10,300
Non-EMU	Exports	171,077	186,923	43,603	40,415	43,355	43,704	47,688	45,458	48,883	44,894	54,155
	Imports	69,007	73,449	16,519	16,479	16,259	19,750	17,953	16,558	17,738	21,200	20,389
EU	Exports	78,197	100,611	19,030	17,999	19,506	21,662	21,958	24,189	24,603	29,861	26,518
	Imports	34,474	42,729	9,175	6,769	8,310	10,220	8,603	12,054	10,106	11,966	11,477
Non-EU	Exports	164,182	178,747	41,959	38,754	41,747	41,722	45,682	43,490	47,093	42,482	51,955
	Imports	65,692	69,321	15,676	15,718	15,477	18,821	16,980	15,487	16,768	20,086	19,211

Services	Exports	254,749	293,629	57,484	56,676	59,696	80,893	63,385	70,835	74,001	85,408	77,956
	Imports	326,465	293,053	117,360	56,287	57,194	95,624	57,895	65,632	68,855	100,671	72,514
EMU	Exports	62,554	76,024	14,557	14,430	15,043	18,524	16,394	18,489	19,117	22,024	19,334
	Imports	32,255	39,275	7,528	8,158	7,042	9,527	7,034	9,415	9,054	13,772	9,525
Non-EMU	Exports	192,196	217,605	42,927	42,246	44,653	62,370	46,992	52,346	54,883	63,384	58,623
	Imports	294,213	253,782	109,832	48,129	50,154	86,098	50,862	56,218	59,802	86,900	62,990
EU	Exports	76,326	93,466	17,755	17,400	18,265	22,906	20,068	22,520	23,560	27,318	23,810
	Imports	35,744	43,084	8,387	8,944	7,894	10,519	7,866	10,421	9,996	14,801	10,546
Non-EU	Exports	178,425	200,163	39,729	39,277	41,431	57,988	43,317	48,315	50,441	58,090	54,147
	Imports	290,724	249,971	108,973	47,343	49,302	85,106	50,029	55,212	58,859	85,871	61,969

Primary Income	Inflows	100,717	121,332	26,514	22,824	23,805	27,574	30,406	30,614	26,449	33,863	31,664
	Outflows	192,940	224,180	49,223	45,267	53,058	45,392	59,627	58,601	53,071	52,881	66,649
EMU	Inflows	34,423	39,403	9,258	6,893	8,150	10,122	9,062	9,615	9,483	11,243	9,652
	Outflows	49,937	61,289	14,698	11,007	13,310	10,922	15,251	17,276	16,686	12,076	13,765
Non-EMU	Inflows	66,294	81,927	17,256	15,931	15,655	17,452	21,344	20,999	16,965	22,619	22,012
	Outflows	143,002	162,891	34,525	34,259	39,748	34,470	44,376	41,325	36,385	40,805	52,884
EU	Inflows	37,526	42,604	10,095	7,690	8,937	10,804	9,846	10,418	10,356	11,984	10,485
	Outflows	51,616	64,092	15,121	11,434	13,721	11,340	16,036	18,229	17,242	12,585	14,598
Non-EU	Inflows	63,191	78,727	16,419	15,134	14,868	16,770	20,560	20,197	16,092	21,878	21,179
	Outflows	141,327	160,089	34,103	33,833	39,338	34,053	43,591	40,373	35,829	40,296	52,051

Secondary Income	Inflows	6,009	6,632	1,570	1,443	1,472	1,524	1,311	1,399	1,924	1,998	1,807
	Outflows	9,793	11,009	2,620	2,416	2,200	2,557	2,584	2,393	2,604	3,428	3,005
EMU	Inflows	2,698	3,411	565	724	627	782	732	721	1,031	927	1,055
	Outflows	3,335	4,056	722	881	794	938	888	888	1,187	1,093	1,210
Non-EMU	Inflows	3,311	3,221	1,005	719	845	742	579	678	893	1,071	752
	Outflows	6,459	6,954	1,898	1,536	1,406	1,619	1,697	1,505	1,417	2,335	1,795
EU	Inflows	3,034	3,951	642	816	714	862	788	810	1,280	1,073	1,111
	Outflows	6,304	7,802	1,606	1,607	1,318	1,773	1,955	1,637	1,844	2,366	2,100
Non-EU	Inflows	2,977	2,683	929	627	759	662	523	590	645	925	696
	Outflows	3,490	3,207	1,014	809	882	785	629	756	760	1,062	905

Balance on Current Account		-25,510	60,659	-47,496	11,239	9,987	760	17,054	16,359	22,666	4,580	17,043

Balance on Capital Account		-11,877	3,712	-3,061	-7,552	-2,080	816	3,016	989	-257	-36	217
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
		2020	2021	2020				2021				2022
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1

Direct Investment	Abroad	-45,942	49,077	-22,703	-4,483	-29,716	10,960	-34	11,833	-1,233	38,511	9,335
	In Ireland	67,039	-4,168	30,438	46,699	-16,887	6,789	-17,134	7,019	-8,431	14,378	-465

EMU	Abroad	-121,085	33,559	853	-99,700	-8,335	-13,903	1,524	3,660	18,283	10,092	4,725
	In Ireland	5,350	-18,578	-6,877	-6,853	7,431	11,649	589	-664	17,950	-36,453	6,281
Non-EMU	Abroad	75,145	15,520	-23,554	95,217	-21,382	24,864	-1,558	8,172	-19,515	28,421	4,611
	In Ireland	61,688	14,412	37,314	53,551	-24,317	-4,860	-17,723	7,683	-26,379	50,831	-6,746
EU	Abroad	-120,181	34,802	771	-99,605	-8,395	-12,952	922	4,202	20,003	9,675	4,922
	In Ireland	8,137	-17,750	-6,629	-5,749	7,900	12,615	1,374	-766	18,317	-36,675	6,674
Non-EU	Abroad	74,238	14,279	-23,475	95,122	-21,322	23,913	-956	7,633	-21,235	28,837	4,413
	In Ireland	58,901	13,583	37,065	52,448	-24,787	-5,825	-18,507	7,784	-26,747	51,053	-7,138

Portfolio Investment	Assets	229,649	353,036	-111,040	151,789	43,197	145,703	68,715	89,870	48,775	145,676	-51,325
	Liabilities	252,677	359,117	-24,935	102,376	46,114	129,122	60,377	94,537	59,399	144,804	-15,234

EMU	Assets	31,879	40,876	-39,623	35,574	15,557	20,371	-1,552	23,901	11,278	7,249	-15,570
	Liabilities	113,860	168,822	-9,030	40,513	32,842	49,535	26,516	48,559	25,694	68,053	-36,501
Non-EMU	Assets	197,769	312,159	-71,417	116,214	27,640	125,332	70,267	65,969	37,497	138,426	-35,756
	Liabilities	138,816	190,293	-15,905	61,863	13,272	79,586	33,861	45,977	33,705	76,750	21,267
EU	Assets	39,439	53,717	-41,852	40,120	14,769	26,402	2,703	25,528	20,147	5,339	-17,630
	Liabilities	120,708	174,782	-9,836	43,792	32,665	54,087	27,934	50,795	27,381	68,672	-38,547
Non-EU	Assets	190,210	299,317	-69,188	111,669	28,428	119,301	66,011	64,342	28,628	140,336	-33,696
	Liabilities	131,969	184,334	-15,099	58,584	13,449	75,035	32,443	43,742	32,018	76,131	23,313

Other Investment³	Assets	223,606	-8,242	190,483	-40,290	35,450	37,963	17,920	-16,940	15,365	-24,587	83,939
	Liabilities	123,712	-16,973	109,383	-53,181	18,767	48,743	32,571	-39,922	1,755	-11,377	46,319

EMU	Assets	95,631	30,451	56,286	6,738	25,843	6,764	30,193	10,642	4,190	-14,574	18,466
	Liabilities	45,015	5,934	19,785	83	4,302	20,845	14,180	4,358	-2,570	-10,034	700
Non-EMU	Assets	127,976	-38,692	134,197	-47,027	9,607	31,199	-12,272	-27,582	11,175	-10,013	65,473
	Liabilities	78,697	-22,909	89,598	-53,263	14,465	27,897	18,390	-44,281	4,325	-1,343	45,619
EU	Assets	99,576	30,702	57,860	8,874	24,927	7,915	33,829	11,686	3,503	-18,316	21,923
	Liabilities	45,351	12,174	19,822	1,295	3,854	20,380	19,188	5,406	-2,010	-10,410	3,882
Non-EU	Assets	124,029	-38,943	132,623	-49,164	10,522	30,048	-15,909	-28,625	11,861	-6,270	62,016
	Liabilities	78,360	-29,148	89,560	-54,476	14,913	28,363	13,381	-45,328	3,765	-966	42,437

Reserve Assets		1,282	4,980	139	-14	761	396	173	72	4,081	654	-129

Balance on Financial Account		-34,832	60,876	-58,007	11,107	1,697	10,371	10,959	23,203	14,264	12,450	11,200

Net errors and omissions		2,555	-3,495	-7,450	7,420	-6,210	8,795	-9,111	5,855	-8,145	7,906	-6,060
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.

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International Accounts Q1 2022 Final

Balance of International Payments

Balance of International Payments

Current account balance of €17bn in Quarter 1 2022

Current account (see Table 1.3)

Financial account (see Tables 1.4 and 1.5)

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