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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 2022 | 47,784 | -30,742 | 17,043 | 14.4 |
Q1 2023 | 56,099 | -42,263 | 13,836 | 11.2 |
Q1-Q4 2021 | 167,308 | -106,649 | 60,659 | 14.2 |
Q1-Q4 2022 | 204,376 | -160,143 | 44,236 | 8.8 |
The Balance of Payments current account, a measure of Ireland’s economic flows with the rest of the world, showed a surplus of €13.8bn in the first quarter of 2023 down €3.2bn on the Q12022 surplus of €17bn. This was due to reduced services and income balances which were partially offset by an increased merchandise balance.
Current Account | |
Q4 2020 | 0.808201291059934 |
Q1 2021 | 16.8480902885159 |
Q2 2021 | 16.1198977086449 |
Q3 2021 | 19.7322326507056 |
Q4 2021 | 4.21303948476478 |
Q1 2022 | 14.4474627498572 |
Q2 2022 | 13.110471936425 |
Q3 2022 | -3.34419201460527 |
Q4 2022 | 12.1942440678879 |
Q1 2023 | 11.2052302846924 |
Merchandise | Services | Primary Income | Secondary Income | Balance on Current Account | |
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 |
Q2 2022 | 49.081 | 2.974 | -35.022 | -1.186 | 15.848 |
Q3 2022 | 53.546 | -18.491 | -38.401 | -1.135 | -4.48 |
Q4 2022 | 53.965 | -6.693 | -30.129 | -1.318 | 15.825 |
Q1 2023 | 56.099 | -1.481 | -39.592 | -1.19 | 13.836 |
Direct Investment | Portfolio Investment | Other Investment | Reserve Assets | Balance on Financial Account | |
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 |
Q2 2022 | 24.456 | -32.643 | 14.707 | 0.033 | 6.553 |
Q3 2022 | -49.11 | -47.852 | 76.996 | 0.603 | -19.364 |
Q4 2022 | 18.511 | -20.69 | 25.988 | -0.022 | 23.787 |
Q1 2023 | 7.923 | -27.242 | 29.259 | 0.011 | 9.951 |
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