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International Accounts Q1 2025

Balance of International Payments

Current account balance of €6.6bn in quarter 1 2025

Online ISSN: 2565-6384

CSO statistical release, 05 June 2025, 11am

Table 1.1 Balance of International Payments				€ million
	Merchandise Balance	Services and Income Balance	Current Account Balance	Current Account Balance as % of GDP
Q1 2024	38,814	-23,923	14,891	11.9
Q1 2025	74,219	-67,633	6,586	4.1

Q1-Q4 2023	156,059	-114,795	41,262	8.1
Q1-Q4 2024	176,608	-85,082	91,528	17.2

Open in Excel: International Accounts Q1 2025 Table 1.1 (XLS 10KB)

Balance of Payments Current Account

The Balance of Payments current account, a measure of Ireland’s economic flows with the rest of the world, showed a surplus of €6.5bn in the first quarter of 2025, a decrease of €8.3bn compared with the Q1 2024 surplus of €14.9bn due to increases in both the merchandise and services balance being offset by increased outflows of investment income.

	Current Account
Q4 2022	5.85002694618576
Q1 2023	9.25099682331505
Q2 2023	9.03677156955853
Q3 2023	14.3336175845611
Q4 2023	-0.410091629454137
Q1 2024	11.8850602788173
Q2 2024	28.2100323051422
Q3 2024	16.6227883073788
Q4 2024	12.6108145847666
Q1 2025	4.14232073110137

	Merchandise	Services	Primary Income	Secondary Income	Balance on Current Account
Q4 2022	54.578	-4.849	-40.621	-1.224	7.884
Q1 2023	53.764	1.052	-41.815	-1.196	11.805
Q2 2023	35.785	7.184	-30.46	-1.161	11.348
Q3 2023	36.843	10.763	-27.863	-1.113	18.629
Q4 2023	29.667	-7.28	-21.524	-1.382	-0.52
Q1 2024	38.814	9.294	-32.043	-1.174	14.891
Q2 2024	39.533	24.485	-27.382	-1.156	35.481
Q3 2024	43.816	9.876	-29.68	-1.034	22.978
Q4 2024	54.445	4.8	-39.849	-1.219	18.178
Q1 2025	74.219	-0.41	-66.175	-1.048	6.586

Current account (see Table 1.3)

Merchandise exports were €113,079m in the first quarter of 2025, an increase of €37,553m compared with the first quarter of 2024. Merchandise imports were €38,860m in first quarter of 2025, an increase of €2,149m over the same period in 2024.
Service exports at €115,260m increased by €10,207m compared to the first quarter of 2024, mainly due to higher computer services exports which increased by €9,691m.
Service imports at €115,670m were up €19,911m over the same period in 2024, mainly due to higher business services imports which increased by €16,128m and royalty imports which increased by €4,834m.
Ireland’s trade balance at €73,810m, all goods and services exports less all goods and services imports increased by €25,702m in the first quarter of 2025 over the same period in 2024.
Investment income earned abroad at €71,438m, increased by €5,943m compared with one year earlier while investment income payable to foreign investors at €137,720m increased by €40,173m. The overall income balance for the quarter at -€67,223m decreased by €34,006m compared with the same period in 2024.

	Direct Investment	Portfolio Investment	Other Investment	Reserve Assets	Balance on Financial Account
Q4 2022	11.956	-27.127	26.093	-0.022	10.9
Q1 2023	13.809	-24.222	16.125	0.011	5.723
Q2 2023	7.979	87.024	-91.396	-0.024	3.58
Q3 2023	-20.573	44.828	-5.339	-0.529	18.387
Q4 2023	11.704	-9.079	6.498	0.107	9.229
Q1 2024	14.211	33.405	-36.741	-0.085	10.789
Q2 2024	35.701	-4.468	2.954	0.007	34.196
Q3 2024	-3.674	18.225	8.552	-0.305	22.797
Q4 2024	12.725	4.978	-2.583	0.245	15.363
Q1 2025	-2.406	4.38	14.428	0.238	16.638

Financial account (see Tables 1.4 and 1.5)

Direct investment in Ireland increased by €15,911m in the first quarter of 2025. This was due to decreases in other capital investment of €38,911m and equity investment of €486m offset by increased reinvested earnings of €55,307m.
Direct investment abroad increased by €13,505m in the quarter, due to increased reinvested earnings of €15,886m and decreased equity investment of €2,321m and other capital investment of €59m.
Portfolio investment in foreign assets increased by €103,265m in the quarter due to increased investment in foreign equity and debt instruments (up €55,286m and €47,980m respectively). Portfolio investment in Ireland increased by €98,885m mainly due to an increase in equity investment of €92,570m as well as increased debt instruments of €6,315m.
Other investment assets grew by €119,878m while other investment liabilities grew by €105,410m in the first quarter of 2025.

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
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	1,619	-28,808	-2,931	-30,120	4,387	-936	-18,310	49,796	-27,206	10	4,290	839
2014	Year	40,731	-2,590	-31,251	-2,750	-36,591	4,138	-6,769	-10,098	-27,787	30,749	136	-6,999	-4,368
2015	Year	113,394	-32,601	-60,742	-3,338	-96,681	16,712	-1,303	-42,677	-84,004	138,586	494	12,400	-3,009
2016	Year	106,165	-54,708	-51,077	-3,813	-109,598	-3,434	-4,331	14,202	34,625	-55,849	1,456	-5,566	2,199
2017	Year	108,244	-35,197	-66,415	-3,106	-104,718	3,528	-25,855	-62,273	-34,500	73,821	399	-22,555	-228
2018	Year	108,595	-9,785	-80,786	-3,656	-94,227	14,370	-52,019	9,024	39,890	-87,533	762	-37,855	-206
2019	Year	117,265	-99,819	-89,335	-3,479	-192,633	-75,369	-35,310	-115,722	12,635	-4,272	422	-106,938	3,741
2020	Year	142,445	-62,878	-102,756	-3,832	-169,466	-27,024	-11,877	-105,140	-8,358	69,643	1,282	-34,832	2,555
2021	Year	168,415	18,868	-128,199	-4,436	-113,767	54,648	1,502	41,504	-10,478	16,649	4,980	60,876	-3,495
2022	Year	205,133	9,698	-164,484	-4,704	-159,490	45,643	-927	24,964	-138,795	157,710	485	36,071	-10,555
2023	Year	156,059	11,719	-121,662	-4,852	-114,795	41,262	-8,663	12,919	98,551	-74,112	-435	36,919	4,320
2024	Year	250,827	48,045	-195,129	-5,631	-152,715	98,114	-18,191	58,963	52,140	-27,818	-138	83,145	9,797

2015	Quarter 1	26,790	-4,471	-16,343	-986	-21,800	4,989	-707	40,300	-72,413	35,780	108	3,777	-505
	Quarter 2	26,894	-6,830	-11,694	-794	-19,318	7,576	-226	-960	14,754	-9,286	307	4,816	-2,534
	Quarter 3	29,755	-6,151	-16,795	-593	-23,539	6,216	100	10,429	-15,637	14,268	-24	9,035	2,719
	Quarter 4	29,955	-15,149	-15,910	-965	-32,024	-2,069	-470	-92,446	-10,708	97,824	103	-5,228	-2,689
2016	Quarter 1	27,367	-13,070	-11,497	-1,020	-25,587	1,779	-2,670	12,895	-5,514	-600	1,095	7,876	8,767
	Quarter 2	24,440	-12,286	-11,117	-768	-24,171	270	-586	1,982	3,882	-15,589	-224	-9,948	-9,632
	Quarter 3	26,315	-10,958	-14,804	-820	-26,582	-267	161	-1,695	12,528	-16,888	379	-5,676	-5,570
	Quarter 4	28,043	-18,394	-13,659	-1,205	-33,258	-5,216	-1,236	1,020	23,729	-22,772	206	2,182	8,634
2017	Quarter 1	24,968	-1,314	-16,441	-616	-18,371	6,597	-8,538	-6,608	-14,015	9,518	-101	-11,206	-9,265
	Quarter 2	24,327	-36,726	-17,781	-1,170	-55,677	-31,349	-12,079	-24,153	-39,145	28,803	163	-34,333	9,095
	Quarter 3	28,445	2,205	-15,168	-626	-13,589	14,857	-4,640	2,681	9,996	-12,027	235	885	-9,332
	Quarter 4	30,504	638	-17,025	-694	-17,081	13,423	-598	-34,193	8,664	47,527	102	22,099	9,274
2018	Quarter 1	28,269	2,290	-19,930	-974	-18,614	9,655	-109	15,470	20,655	-35,824	4	305	-9,241
	Quarter 2	27,912	1,604	-19,068	-1,060	-18,524	9,389	59	7,736	-15,699	22,818	-8	14,847	5,399
	Quarter 3	27,126	2,911	-19,441	-830	-17,360	9,766	63	10,896	8,067	-13,626	196	5,534	-4,295
	Quarter 4	25,288	-16,590	-22,347	-792	-39,729	-14,440	-52,032	-25,078	26,867	-60,901	570	-58,541	7,931
2019	Quarter 1	30,338	1,646	-22,020	-1,344	-21,718	8,620	-6,936	8,739	5,672	-175	-7	14,228	12,544
	Quarter 2	26,916	-37,315	-23,925	-626	-61,866	-34,950	-17,385	-51,647	-16,764	14,493	116	-53,802	-1,467
	Quarter 3	31,036	2,720	-22,544	-850	-20,674	10,361	-5,093	-3,093	-7,609	5,636	144	-4,922	-10,190
	Quarter 4	28,975	-66,870	-20,846	-659	-88,375	-59,400	-5,896	-69,721	31,336	-24,226	169	-62,442	2,854
2020	Quarter 1	36,197	-57,566	-24,838	-1,069	-83,473	-47,277	-3,061	-49,575	-82,024	72,766	139	-58,007	-7,450
	Quarter 2	34,324	2,688	-24,286	-982	-22,580	11,743	-7,552	-49,604	59,979	-2,251	-14	11,107	7,420
	Quarter 3	37,523	4,852	-30,755	-736	-26,639	10,883	-2,080	-9,988	-6,585	18,997	761	1,697	-6,210
	Quarter 4	34,401	-12,852	-22,877	-1,045	-36,774	-2,373	816	4,027	20,272	-19,869	396	10,371	8,795
2021	Quarter 1	42,172	9,412	-34,612	-1,290	-26,490	15,682	2,974	15,274	16,826	-22,368	173	10,959	-9,111
	Quarter 2	39,900	9,527	-33,275	-1,006	-24,754	15,146	914	3,022	-4,691	22,982	72	23,203	5,855
	Quarter 3	45,021	9,529	-33,039	-695	-24,205	20,816	-333	3,382	-6,259	10,825	4,081	14,264	-8,145
	Quarter 4	41,322	-9,600	-27,273	-1,445	-38,318	3,004	-2,053	19,826	-16,354	5,210	654	12,450	7,906
2022	Quarter 1	46,228	9,386	-39,858	-1,178	-31,650	14,578	772	16,015	-39,856	43,463	-129	11,200	-6,060
	Quarter 2	47,812	3,969	-38,363	-1,174	-35,568	12,244	-124	22,088	-25,022	6,948	33	4,048	-8,072
	Quarter 3	56,515	1,192	-45,642	-1,128	-45,578	10,937	-878	-25,095	-46,790	81,206	603	9,923	-136
	Quarter 4	54,578	-4,849	-40,621	-1,224	-46,694	7,884	-697	11,956	-27,127	26,093	-22	10,900	3,713
2023	Quarter 1	53,764	1,052	-41,815	-1,196	-41,959	11,805	-437	13,809	-24,222	16,125	11	5,723	-5,645
	Quarter 2	35,785	7,184	-30,460	-1,161	-24,437	11,348	-5,570	7,979	87,024	-91,396	-24	3,580	-2,198
	Quarter 3	36,843	10,763	-27,863	-1,113	-18,213	18,629	-1,683	-20,573	44,828	-5,339	-529	18,387	1,441
	Quarter 4	29,667	-7,280	-21,524	-1,382	-30,186	-520	-973	11,704	-9,079	6,498	107	9,229	10,722
2024	Quarter 1	38,814	9,294	-32,043	-1,174	-23,923	14,891	-12,999	14,211	33,405	-36,741	-85	10,789	8,897
	Quarter 2	39,533	24,485	-27,382	-1,156	-4,053	35,481	-4,632	35,701	-4,468	2,954	7	34,196	3,347
	Quarter 3	43,816	9,876	-29,680	-1,034	-20,838	22,978	-288	-3,674	18,225	8,552	-305	22,797	107
	Quarter 4	54,445	4,800	-39,849	-1,219	-36,268	18,178	-261	12,725	4,978	-2,583	245	15,363	-2,554
2025	Quarter 1	74,219	-410	-66,175	-1,048	-67,633	6,586	-11	-2,406	4,380	14,428	238	16,638	10,063
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 2025 Table 1.2 (XLS 17KB)

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Table 1.3 Current and Capital Accounts

Table 1.3 Current and Capital Accounts												€ million
		2023	2024	2023				2024				2025
Item				Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1
Current Account
Merchandise¹	Exports	305,680	329,399	88,961	74,136	71,383	71,200	75,526	79,293	82,468	92,112	113,079
	Imports	149,621	152,790	35,197	38,351	34,540	41,533	36,711	39,760	38,652	37,667	38,860

International trade	Exports	196,700	222,757	50,949	50,216	47,651	47,884	53,239	54,173	57,457	57,888	88,375
	Imports	134,166	127,273	33,179	34,624	31,096	35,267	29,905	31,957	32,054	33,357	34,197
Goods for processing	Exports	99,011	92,609	34,530	21,275	18,990	24,216	20,618	21,620	20,112	30,259	17,440
	Imports	10,184	17,872	1,179	1,978	1,971	5,056	5,599	5,771	3,923	2,579	3,487
Other conceptual adjustments	Exports	-15,761	-17,440	-2,233	-2,673	-2,483	-8,372	-3,106	-2,995	-3,997	-7,342	-3,833
	Imports	5,273	7,645	839	1,749	1,474	1,211	1,208	2,032	2,675	1,730	1,176
Merchanting (net export)	Exports	25,730	31,473	5,714	5,318	7,226	7,472	4,775	6,494	8,896	11,308	11,098

Services	Exports	399,015	480,001	90,380	97,624	101,439	109,572	105,053	130,146	115,018	129,784	115,260
	Imports	387,297	431,545	89,328	90,440	90,676	116,853	95,759	105,660	105,143	124,983	115,670
Repairs and Processing	Exports	2,739	1,235	602	792	652	693	239	264	280	452	211
	Imports	11,719	9,327	3,444	2,567	2,448	3,260	2,338	2,231	1,988	2,770	1,998
Transport	Exports	10,541	10,767	1,634	2,828	3,945	2,134	1,830	2,699	3,950	2,288	1,629
	Imports	5,684	5,986	1,368	1,366	1,306	1,644	1,413	1,552	1,521	1,500	1,506
Tourism and Travel ²	Exports	6,981	7,256	1,505	1,729	2,132	1,615	1,370	1,993	2,335	1,558	1,116
	Imports	12,219	12,828	2,203	3,440	3,638	2,938	2,820	3,220	3,439	3,349	2,339
Insurance	Exports	15,847	16,584	3,771	3,925	3,856	4,295	3,713	4,124	4,233	4,514	4,509
	Imports	14,190	13,747	3,389	3,674	3,420	3,707	3,481	3,253	3,203	3,810	3,731
Financial services	Exports	22,145	25,950	5,299	5,208	5,787	5,851	6,684	6,323	6,137	6,806	6,601
	Imports	20,340	23,145	4,932	5,185	5,097	5,126	6,006	5,605	5,512	6,022	5,829
Royalties/Licences	Exports	15,299	17,498	3,711	3,229	3,476	4,883	3,664	3,870	4,327	5,637	3,238
	Imports	141,784	169,434	36,751	30,665	33,295	41,073	37,211	41,647	40,530	50,046	42,045
of which: Pharmaceutical products and preparations	Exports	267	1,263	43	85	28	111	96	154	..	..	..
	Imports	24,917	24,630	6,055	6,543	4,463	7,856	4,919	6,405	4,442	8,864	5,702
Information and communication	Exports	5,506	..	1,120	1,193	..	..	921	1,222	1,102	..	838
	Imports	99,349	126,598	..	..	..	..	..	..	..	..	..
Communications	Exports	173	147	49	45	42	37	36	37	37	37	55
	Imports	792	816	194	197	202	199	197	196	199	224	216
Computer services³	Exports	228,219	272,968	52,253	55,182	57,041	63,743	62,726	66,478	66,463	77,301	72,417
	Imports	12,164	18,444	2,724	2,870	3,425	3,145	4,225	4,701	4,668	4,850	4,119
Business services	Exports	69,234	96,466	15,088	17,629	18,037	18,480	18,723	37,424	19,259	21,060	17,577
	Imports	149,924	153,309	29,907	35,678	33,125	51,214	33,053	37,624	38,281	44,351	49,181
Research and development	Exports	9,315	31,542	1,716	2,456	2,961	2,182	2,650	..	2,869	..	2,298
	Imports	53,414	44,320	8,246	9,738	10,075	25,355	9,249	10,926	11,297	12,848	22,784
of which: IP related	Exports	2,129	20,107	89	860	975	205	..	..	440	..	192
	Imports	15,241	1,875	525	274	..	..	..	379	..	875	..
Operational leasing	Exports	19,759	19,792	4,784	4,912	4,958	5,105	4,985	4,958	4,915	4,934	5,186
	Imports	1,347	1,452	365	332	326	324	340	350	351	411	460
Misc. business services⁴	Exports	40,159	45,134	8,587	10,261	10,118	11,193	11,089	..	11,475	..	10,093
	Imports	95,163	107,537	21,295	25,608	22,725	25,535	23,465	26,348	26,632	31,092	25,938
Other services n.e.s.	Exports	27,834	31,124	6,467	7,056	6,471	7,840	6,066	6,932	7,997	10,129	7,907
	Imports	18,480	24,507	4,416	4,798	4,719	4,547	5,014	5,631	5,801	8,061	4,705

Merchandise and Services - Total	Exports	704,694	809,399	179,341	171,759	172,822	180,772	180,579	209,439	197,486	221,895	228,339
	Imports	536,917	584,335	124,525	128,790	125,216	158,386	132,471	145,420	143,794	162,650	154,530

Trade Balance	Net	167,777	225,065	54,816	42,969	47,606	22,386	48,108	64,019	53,692	59,246	73,810

Primary Income	Inflows	249,269	288,192	55,647	63,756	62,770	67,096	65,919	75,185	72,029	75,059	71,976
	Outflows	370,930	417,145	97,462	94,216	90,632	88,620	97,962	102,567	101,708	114,908	138,150
Compensation of Employees	Inflows	528	606	132	132	132	132	132	151	182	141	147
	Outflows	1,135	1,065	254	246	247	388	239	265	293	268	265
Investment Income	Inflows	247,545	286,215	55,230	63,257	62,349	66,709	65,495	74,674	71,519	74,527	71,438
	Outflows	368,873	415,420	97,061	93,520	90,237	88,055	97,547	102,149	101,263	114,461	137,720
Direct investment income	Inflows	67,328	79,012	13,690	16,840	16,498	20,300	17,758	17,964	18,836	24,454	20,972
	Outflows	185,530	204,375	55,304	45,703	43,823	40,700	48,814	43,000	48,988	63,573	85,079

of which: Manufacturing	Outflows	105,465	121,222	36,877	24,527	24,110	19,951	28,111	23,669	31,861	37,581	61,559
Information and communication	Outflows	44,293	49,452	9,595	12,984	10,044	11,670	12,269	10,369	11,148	15,666	16,349

Income on equity	Inflows	62,283	75,132	12,597	15,459	15,100	19,127	16,835	16,974	17,826	23,497	19,953
	Outflows	170,663	193,212	51,592	41,964	40,327	36,780	45,658	39,916	46,400	61,238	83,002
Dividends & distributed	Inflows	18,494	41,126	1,882	2,873	8510	5,229	2,053	..	..	4,814	4,067
branch profits	Outflows	175,349	146,715	54,970	79,565	27,727	13,087	38,395	39,658	42,142	26,520	27,716
Reinvested earnings	Inflows	43,789	34,007	10,715	12,586	6,590	13,898	14,783	..	..	18,683	15,886
	Outflows	-4,686	46,497	-3,378	-37,601	12,600	23,693	7,263	258	4,258	34,718	55,286
Income on debt	Inflows	5,045	3,880	1,093	1,381	1,398	1,173	923	990	1,010	957	1,019
	Outflows	14,866	11,164	3,711	3,739	3,496	3,920	3,157	3,084	2,588	2,335	2,077
Portfolio investment income	Inflows	118,458	138,125	27,662	30,967	29,732	30,097	31,265	38,464	34,734	33,662	35,539
	Outflows	146,913	164,083	33,196	39,303	36,878	37,536	38,534	46,184	40,303	39,062	40,687
Income on equity	Inflows	36,449	41,118	8,454	10,944	8,933	8,118	8,881	13,437	10,235	8,565	10,696
	Outflows	113,383	132,404	25,519	30,718	28,288	28,858	29,625	37,611	33,302	31,866	33,512
Income on debt	Inflows	82,008	97,006	19,208	20,022	20,799	21,979	22,384	25,027	24,498	25,097	24,843
	Outflows	33,530	31,678	7,678	8,585	8,590	8,677	8,909	8,572	7,001	7,196	7,175
Other investment income	Inflows	61,758	69,077	13,878	15,450	16,119	16,311	16,472	18,245	17,949	16,411	14,927
	Outflows	36,431	46,963	8,561	8,514	9,536	9,820	10,199	12,966	11,972	11,826	11,955
Other primary income	Inflows	1,199	1,372	286	367	290	256	293	361	327	391	391
	Outflows	923	662	147	450	149	177	176	154	153	179	165

Secondary Income	Inflows	9,459	9,161	2,277	2,258	2,751	2,173	1,985	2,495	2,533	2,148	2,344
	Outflows	14,313	13,744	3,473	3,419	3,865	3,556	3,159	3,651	3,567	3,367	3,393

Income Balance	Net	-126,514	-133,537	-43,011	-31,621	-28,976	-22,906	-33,217	-28,538	-30,714	-41,068	-67,223

Current Account - Total	Inflows	963,423	1,106,752	237,265	237,773	238,343	250,042	248,483	287,119	272,048	299,102	302,659
	Outflows	922,160	1,015,224	225,460	226,425	219,713	250,562	233,591	251,638	249,070	280,925	296,073

Current Account Balance	Net	41,262	91,528	11,805	11,348	18,629	-520	14,891	35,481	22,978	18,178	6,586

Capital Account Balance	Net	-8,663	-18,180	-437	-5,570	-1,683	-973	-12,999	-4,632	-288	-261	-11

Memorandum Item:
Government Income	Inflows	109	363	13	14	28	54	90	87	117	69	122
	Outflows	2,578	2,662	797	552	647	582	828	545	722	567	767
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.
.. Data suppressed for confidentiality reasons.

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Table 1.4 Financial Account

Table 1.4 Financial Account¹												€ million
		2023	2024	2023				2024				2025
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1

Direct Investment	Abroad	10,441	23,034	13,325	-36,523	5,693	27,946	12,993	14,018	7,588	-11,565	13,505
	In Ireland	-2,476	-35,931	-484	-44,502	26,266	16,244	-1,218	-21,684	11,261	-24,290	15,911

Equity	Abroad	-49,606	-18,161	1,343	..	..	-5,070	1,610	..	..	..	-2,321
	In Ireland	-24,657	459	8,633	-54,682	1,275	20,117	-15,098	6,490	6,328	2,739	-486
Reinvested Earnings	Abroad	43,762	34,034	10,713	12,584	6,588	13,877	14,781	..	..	..	15,886
	In Ireland	-5,420	45,507	-3,449	-37,730	12,301	23,458	7,019	14	4,009	34,465	55,307
Other Capital	Abroad	16,284	7,160	1,269	..	..	19,139	-3,398	13,521	4,266	-7,229	-59
	In Ireland	27,602	-81,895	-5,668	47,911	12,690	-27,331	6,862	-28,187	925	-61,495	-38,911

Portfolio Investment	Assets	293,285	443,591	-8,393	104,790	106,618	90,270	56,581	90,133	156,801	140,076	103,265
	Liabilities	194,734	391,451	15,829	17,766	61,790	99,349	23,176	94,601	138,576	135,098	98,885

Equity	Assets	118,530	181,132	21,211	14,380	48,724	34,215	15,731	45,465	47,879	72,057	55,286
	Liabilities	153,634	352,995	7,710	7,007	45,706	93,211	32,148	79,231	124,306	117,310	92,570
Debt Instruments	Assets	174,755	262,457	-29,604	90,410	57,894	56,055	40,850	44,668	108,921	68,018	47,980
	Liabilities	41,100	38,457	8,119	10,759	16,083	6,139	-8,971	15,369	14,270	17,789	6,315
Bonds and notes	Assets	159,198	182,204	43,220	59,023	41,671	15,284	55,494	43,821	49,865	33,024	58,916
	Liabilities	31,151	32,591	10,557	5,387	13,690	1,517	-9,789	14,582	16,811	10,987	3,445
Money market instruments	Assets	15,556	80,253	-72,824	31,386	16,223	40,771	-14,644	847	59,056	34,994	-10,936
	Liabilities	9,950	5,865	-2,438	5,372	2,394	4,622	818	786	-2,541	6,802	2,870

Other Investment	Assets	-87,839	42,802	21,596	-26,430	-9,164	-73,841	4,903	23,261	16,345	-1,707	119,878
	Liabilities	-13,727	70,620	5,471	64,966	-3,825	-80,339	41,644	20,307	7,793	876	105,450

Loans, currency and deposits	Assets	40,184	60,098	51,576	-22,943	7,890	3,661	-16,259	20,297	16,674	39,386	63,225
	Liabilities	14,673	36,636	15,383	27,917	-3,311	-25,316	15,131	-523	-9,461	31,489	30,293
Other²	Assets	-128,027	-17,295	-29,981	-3,488	-17,055	-77,503	21,163	2,964	-329	-41,093	56,653
	Liabilities	-28,401	33,987	-9,913	37,049	-514	-55,023	26,513	20,831	17,255	-30,612	75,158

Reserve Assets		-435	-138	11	-24	-529	107	-85	7	-305	245	238

Monetary gold		0	0	0	0	0	0	0	0	0	0	0
Special drawing rights		-53	40	-7	44	-26	-64	13	12	4	11	9
Reserve position in the IMF		-4	-122	1	1	46	-52	9	-54	-8	-69	43
Foreign exchange		-324	-153	41	-79	-458	172	-361	1	-321	528	132
Other		-53	96	-24	9	-90	52	254	48	19	-225	53

Balance on Financial Account		36,919	83,145	5,723	3,580	18,387	9,229	10,789	34,196	22,797	15,363	16,638

Net errors and omissions		4,320	9,797	-5,645	-2,198	1,441	10,722	8,897	3,347	107	-2,554	10,063
Memorandum Item:
Government financial	Assets	4,216	13,139	-1,294	1,424	1,227	2,859	2,307	-2,593	3,327	10,098	1,735
transactions	Liabilities	-636	-792	2,851	-485	-255	-2,747	-1,830	459	1,199	-620	-5,580
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.

Open in Excel: International Accounts Q1 2025 Table 1.4 (XLS 15KB)

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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
		2023	2024	2023				2024				2025
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1
Current Account - Total	Inflows	963,423	1,106,752	237,265	237,773	238,343	250,042	248,483	287,119	272,048	299,102	302,659
	Outflows	922,160	1,015,224	225,460	226,425	219,713	250,562	233,591	251,638	249,070	280,925	296,073

Merchandise¹	Exports	305,680	329,399	88,961	74,136	71,383	71,200	75,526	79,293	82,468	92,112	113,079
	Imports	149,621	152,790	35,197	38,351	34,540	41,533	36,711	39,760	38,652	37,667	38,860

Services	Exports	399,015	480,001	90,380	97,624	101,439	109,572	105,053	130,146	115,018	129,784	115,260
	Imports	387,297	431,545	89,328	90,440	90,676	116,853	95,759	105,660	105,143	124,983	115,670

General Government	Exports	348	380	103	103	71	71	71	103	103	103	69
	Imports	105	109	26	25	28	26	27	29	25	28	28
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	9,739	10,921	2,390	2,549	2,398	2,402	2,544	2,782	2,791	2,804	2,820
	Imports	3,842	4,506	1,101	989	767	985	1,105	1,144	1,144	1,113	1,061
Other Sectors⁴	Exports	388,927	468,699	87,887	94,971	98,970	107,099	102,438	127,261	112,124	126,876	112,371
	Imports	383,349	426,929	88,201	89,426	89,881	115,841	94,627	104,487	103,973	123,842	114,581
of which:
Other Financial Intermediaries	Exports	39,481	41,725	9,723	9,895	9,823	10,040	10,144	9,965	10,287	11,329	10,993
	Imports	41,381	42,264	10,336	10,771	10,019	10,255	10,918	9,927	10,113	11,306	11,096
Non-Financial Companies⁵	Exports	349,445	426,976	78,164	85,076	89,146	97,059	92,295	117,297	101,837	115,547	101,378
	Imports	341,969	384,665	77,865	78,656	79,862	105,586	83,709	94,560	93,860	112,536	103,485

Primary Income	Inflows	249,269	288,192	55,647	63,756	62,770	67,096	65,919	75,185	72,029	75,059	71,976
	Outflows	370,930	417,145	97,462	94,216	90,632	88,620	97,962	102,567	101,708	114,908	138,150

General Government	Inflows	109	363	13	14	28	54	90	87	117	69	122
	Outflows	2,578	2,662	797	552	647	582	828	545	722	567	767
Monetary Authority²	Inflows	175	196	37	42	47	49	49	49	49	49	49
	Outflows	0	0	0	0	0	0	0	0	0	0	0
Monetary Financial Institutions ³	Inflows	38,353	45,600	7,552	9,168	10,326	11,307	11,494	11,213	11,361	11,532	10,502
	Outflows	37,171	46,249	7,266	9,162	10,434	10,309	11,345	11,098	11,821	11,985	10,629
Other Sectors⁴	Inflows	210,631	242,033	48,045	54,532	52,368	55,686	54,287	63,836	60,501	63,409	61,302
	Outflows	331,181	368,233	89,398	84,502	79,552	77,729	85,789	90,924	89,164	102,356	126,755
of which:
Other Financial Intermediaries	Inflows	148,368	167,227	35,887	38,802	37,032	36,647	37,490	46,448	41,491	41,798	43,985
	Outflows	147,538	165,727	35,474	37,857	37,114	37,093	37,794	47,820	39,208	40,905	42,120
Non-Financial Companies⁵	Inflows	62,264	74,806	12,158	15,730	15,336	19,040	16,797	17,388	19,010	21,611	17,318
	Outflows	183,643	202,507	53,924	46,645	42,437	40,637	47,996	43,104	49,956	61,451	84,635

Secondary Income	Inflows	9,459	9,161	2,277	2,258	2,751	2,173	1,985	2,495	2,533	2,148	2,344
	Outflows	14,313	13,744	3,473	3,419	3,865	3,556	3,159	3,651	3,567	3,367	3,393

General Government	Inflows	170	43	21	43	57	49	19	2	2	20	0
	Outflows	3,912	3,713	1,002	939	904	1,067	975	933	811	994	803
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	9,289	9,118	2,256	2,215	2,694	2,124	1,966	2,493	2,531	2,128	2,344
	Outflows	10,401	10,031	2,471	2,480	2,961	2,489	2,183	2,718	2,756	2,374	2,590
of which:
Other Financial Intermediaries	Inflows	8,248	7,800	1,935	1,943	2,423	1,947	1,644	2,156	2,191	1,809	2,025
	Outflows	8,248	7,800	1,935	1,943	2,423	1,947	1,644	2,156	2,191	1,809	2,025
Non-Financial Companies⁵	Inflows	1,042	1,317	322	272	271	177	322	337	339	319	319
	Outflows	2,153	2,231	537	537	538	541	539	562	565	565	565

Balance on Current Account		41,262	91,528	11,805	11,348	18,629	-520	14,891	35,481	22,978	18,178	6,586

Balance on Capital Account		-8,663	-18,180	-437	-5,570	-1,683	-973	-12,999	-4,632	-288	-261	-11

Financial Account⁶
Direct investment	Abroad	10,441	23,034	13,325	-36,523	5,693	27,946	12,993	14,018	7,588	-11,565	13,505
	In Ireland	-2,476	-35,931	-484	-44,502	26,266	16,244	-1,218	-21,684	11,261	-24,290	15,911

General Government	Abroad	0	..	..	..	0	..	..	..	..	0	0
	In Ireland	0	0	0	0	0	0	0	0	0	0	0
Monetary Authority²	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	230	..	..	..	98	..	..	..	..	64	-52
	In Ireland	16,973	2,620	-100	..	377	..	247	283	923	1,167	413
Other Sectors⁴	Abroad	10,213	23,594	13,178	-36,619	5,596	28,058	12,963	13,993	8,268	-11,630	13,559
	In Ireland	-19,450	-38,548	-384	..	25,888	..	-1,464	-21,967	10,340	-25,457	15,498
of which:
Other Financial Intermediaries	Abroad	4,997	5,709	1,440	3,727	2,706	-2,876	1,812	1,134	892	1,871	3,205
	In Ireland	19,470	13,499	-2,417	2,267	-5,911	25,531	14,886	-11,471	10,918	-834	1,498
Non-Financial Companies⁵	Abroad	5,216	17,885	11,738	-40,346	2,890	30,934	11,151	12,859	7,376	-13,501	10,354
	In Ireland	-38,920	-52,047	2,033	..	31,799	..	-16,350	-10,496	-578	-24,623	14,000

Portfolio investment	Assets	293,285	443,591	-8,393	104,790	106,618	90,270	56,581	90,133	156,801	140,076	103,265
	Liabilities	194,734	391,451	15,829	17,766	61,790	99,349	23,176	94,601	138,576	135,098	98,885

General Government	Assets	-117	3,212	27	-54	-183	93	84	-292	3,345	75	260
	Liabilities	1,436	-232	2,745	-310	-255	-744	-1,033	461	959	-619	-3,182
Monetary Authority ²	Assets	418	0	107	-76	457	-70	0	0	0	0	0
	Liabilities	0	0	0	0	0	0	0	0	0	0	0
Monetary Financial Institutions ³	Assets	42,023	97,466	-71,854	36,994	15,006	61,877	-2,045	12,048	57,551	29,912	-9,681
	Liabilities	34,015	93,480	-27,259	-14,881	15,655	60,500	-17,340	21,604	56,933	32,283	21,876
Other Sectors ⁴	Assets	250,961	342,912	63,328	67,924	91,338	28,371	58,541	78,377	95,905	110,089	112,686
	Liabilities	159,285	298,203	40,344	32,957	46,390	39,594	41,549	72,536	80,684	103,434	80,190
of which:
Other Financial Intermediaries	Assets	251,141	342,525	63,375	67,936	..	..	..	..	..	109,955	112,576
	Liabilities	159,094	297,866	41,190	30,119	46,517	41,268	40,238	71,625	81,562	104,441	79,799
Non-Financial Companies ⁵	Assets	-180	387	-47	-12	..	..	..	..	..	134	110
	Liabilities	191	337	-846	2,838	-127	-1,674	1,311	911	-878	-1,007	391

Other investment	Assets	-87,839	42,802	21,596	-26,430	-9,164	-73,841	4,903	23,261	16,345	-1,707	119,878
	Liabilities	-13,727	70,620	5,471	64,966	-3,825	-80,339	41,644	20,307	7,793	876	105,450

General Government	Assets	4,333	9,927	-1,321	1,478	1,410	2,766	2,223	-2,301	-18	10,023	1,475
	Liabilities	-2,072	-560	106	-175	..	..	-797	-2	240	-1	-2,398
Monetary Authority²	Assets	-4,399	-2,705	-12,673	3,638	61	4,575	-8,117	8,792	-1,539	-1,841	-5,208
	Liabilities	1,717	1,475	288	338	..	..	264	259	414	538	363
Monetary Financial Institutions ³	Assets	-25,546	45,836	71,110	-35,846	2,119	-62,929	6,982	18,048	9,384	11,422	73,860
	Liabilities	-21,939	24,481	11,712	17,452	-1,589	-49,514	20,628	860	350	2,643	44,637
Other Sectors⁴	Assets	-62,230	-10,258	-35,521	4,300	-12,753	-18,256	3,815	-1,279	8,518	-21,312	49,752
	Liabilities	8,567	45,223	-6,635	47,352	-2,937	-29,213	21,548	19,189	6,789	-2,303	62,849
of which:
Other Financial Intermediaries	Assets	-68,892	-2,358	-25,730	-4,925	-18,915	-19,322	11,819	-3,266	6,061	-16,972	58,755
	Liabilities	6,932	39,021	3,294	40,800	-7,454	-29,708	25,978	12,985	269	-211	64,992
Non-Financial Companies⁵	Assets	6,662	-7,900	-9,791	9,225	6,162	1,066	-8,004	1,987	2,457	-4,340	-9,003
	Liabilities	1,635	6,202	-9,929	6,552	4,517	495	-4,430	6,204	6,520	-2,092	-2,143

Reserve Assets		-435	-138	11	-24	-529	107	-85	7	-305	245	238

Balance on Financial Account		36,919	83,145	5,723	3,580	18,387	9,229	10,789	34,196	22,797	15,363	16,638
Net errors and omissions		4,320	9,797	-5,645	-2,198	1,441	10,722	8,897	3,347	107	-2,554	10,063
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.
.. Data suppressed for confidentiality reasons

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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
		2023	2024	2023				2024				2025
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1

Current Account - Total	Inflows	963,423	1,106,752	237,265	237,773	238,343	250,042	248,483	287,119	272,048	299,102	302,659
	Outflows	922,160	1,015,224	225,460	226,425	219,713	250,562	233,591	251,638	249,070	280,925	296,073

Merchandise²	Exports	305,680	329,399	88,961	74,136	71,383	71,200	75,526	79,293	82,468	92,112	113,079
	Imports	149,621	152,790	35,197	38,351	34,540	41,533	36,711	39,760	38,652	37,667	38,860
EMU	Exports	104,073	106,769	32,524	24,503	21,602	25,444	25,724	22,836	24,608	33,601	22,625
	Imports	61,236	65,103	13,350	16,702	13,623	17,561	16,955	16,893	15,638	15,617	17,098
Non-EMU	Exports	201,607	222,629	56,437	49,633	49,781	45,756	49,802	56,457	57,860	58,510	90,455
	Imports	88,385	87,687	21,846	21,649	20,917	23,973	19,757	22,867	23,014	22,049	21,762
EU	Exports	112,672	114,975	34,822	26,580	23,665	27,605	27,539	24,944	26,550	35,942	24,952
	Imports	66,502	71,075	14,770	18,056	14,763	18,913	18,430	18,307	17,170	17,168	18,754
Non-EU	Exports	193,007	214,423	54,138	47,556	47,718	43,595	47,987	54,349	55,917	56,170	88,127
	Imports	83,119	81,715	20,427	20,295	19,777	22,620	18,281	21,453	21,482	20,499	20,106

Services	Exports	399,015	480,001	90,380	97,624	101,439	109,572	105,053	130,146	115,018	129,784	115,260
	Imports	387,297	431,545	89,328	90,440	90,676	116,853	95,759	105,660	105,143	124,983	115,670
EMU	Exports	106,559	121,821	24,014	26,789	27,241	28,515	26,819	29,728	30,874	34,400	29,566
	Imports	57,554	59,900	12,107	15,188	13,504	16,755	11,704	15,097	14,284	18,815	12,072
Non-EMU	Exports	292,456	358,180	66,366	70,835	74,198	81,057	78,234	100,418	84,144	95,384	85,694
	Imports	329,742	371,645	77,221	75,252	77,172	100,097	84,055	90,564	90,858	106,168	103,598
EU	Exports	128,420	147,542	29,092	32,020	32,808	34,500	32,677	35,689	37,088	42,088	36,013
	Imports	63,519	66,775	13,596	16,550	14,939	18,434	13,195	16,896	15,963	20,721	13,987
Non-EU	Exports	270,594	332,459	61,288	65,603	68,631	75,072	72,376	94,457	77,930	87,696	79,247
	Imports	323,777	364,772	75,732	73,890	75,737	98,418	82,564	88,765	89,180	104,263	101,682

Primary Income	Inflows	249,269	288,192	55,647	63,756	62,770	67,096	65,919	75,185	72,029	75,059	71,976
	Outflows	370,930	417,145	97,462	94,216	90,632	88,620	97,962	102,567	101,708	114,908	138,150
EMU	Inflows	70,758	74,843	16,487	17,971	17,147	19,153	16,779	19,598	18,812	19,654	20,119
	Outflows	94,896	108,047	22,195	24,013	23,856	24,832	24,317	29,241	25,092	29,397	26,145
Non-EMU	Inflows	178,509	213,350	39,160	45,784	45,622	47,943	49,140	55,588	53,216	55,406	51,857
	Outflows	276,035	309,098	75,267	70,203	66,777	63,788	73,645	73,326	76,616	85,511	112,005
EU	Inflows	76,654	82,142	17,766	19,654	18,632	20,602	18,394	21,615	20,730	21,403	21,989
	Outflows	98,997	111,897	23,324	25,168	24,750	25,755	25,507	30,125	26,052	30,213	27,279
Non-EU	Inflows	172,615	206,052	37,881	44,102	44,137	46,495	47,526	53,571	51,299	53,656	49,987
	Outflows	271,934	305,249	74,138	69,048	65,883	62,865	72,455	72,442	75,657	84,695	110,872

Secondary Income	Inflows	9,459	9,161	2,277	2,258	2,751	2,173	1,985	2,495	2,533	2,148	2,344
	Outflows	14,313	13,744	3,473	3,419	3,865	3,556	3,159	3,651	3,567	3,367	3,393
EMU	Inflows	5,443	4,876	1,278	1,302	1,730	1,133	939	1,401	1,618	918	1,243
	Outflows	6,082	5,511	1,434	1,463	1,891	1,294	1,098	1,560	1,777	1,076	1,345
Non-EMU	Inflows	4,017	4,285	999	956	1,021	1,041	1,046	1,094	915	1,230	1,101
	Outflows	8,230	8,234	2,039	1,956	1,974	2,261	2,061	2,091	1,791	2,291	2,047
EU	Inflows	5,934	5,240	1,360	1,430	1,886	1,258	1,028	1,487	1,701	1,024	1,330
	Outflows	9,850	8,994	2,390	2,379	2,813	2,268	1,979	2,412	2,640	1,963	2,288
Non-EU	Inflows	3,527	3,921	917	829	866	915	957	1,008	832	1,124	1,014
	Outflows	4,463	4,750	1,083	1,040	1,052	1,288	1,180	1,239	927	1,404	1,105

Balance on Current Account		41,262	91,528	11,805	11,348	18,629	-520	14,891	35,481	22,978	18,178	6,586

Balance on Capital Account		-8,663	-18,180	-437	-5,570	-1,683	-973	-12,999	-4,632	-288	-261	-11
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). From 2023 onwards the term ‘EMU’ is the area represented by the 20 Member States in the Monetary Union following enlargement to include Croatia (EMU-20). 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.

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Table 1.7 Financial Account showing geographical detail

Table 1.7 Financial Account¹ showing geographical² detail												€ million
		2023	2024	2023				2024				2025
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1

Direct Investment	Abroad	10,441	23,034	13,325	-36,523	5,693	27,946	12,993	14,018	7,588	-11,565	13,505
	In Ireland	-2,476	-35,931	-484	-44,502	26,266	16,244	-1,218	-21,684	11,261	-24,290	15,911

EMU	Abroad	18,745	14,431	4,426	8,185	1,012	5,122	596	7,552	1,841	4,442	3,357
	In Ireland	-16,673	-1,432	451	-29,028	-2,863	14,767	4,701	13,098	-12,119	-7,112	18,843
Non-EMU	Abroad	-8,302	8,600	8,899	-44,708	4,683	22,824	12,397	6,465	5,746	-16,008	10,148
	In Ireland	14,196	-34,498	-936	-15,474	29,129	1,477	-5,919	-34,782	23,382	-17,179	-2,932
EU	Abroad	22,457	14,600	4,732	8,309	575	8,841	86	7,728	1,821	4,965	8,784
	In Ireland	-16,312	-2,317	-26	-28,920	-2,121	14,755	4,031	12,843	-12,207	-6,984	19,408
Non-EU	Abroad	-12,014	8,435	8,593	-44,830	5,118	19,105	12,908	6,290	5,768	-16,531	4,721
	In Ireland	13,835	-33,613	-458	-15,581	28,386	1,488	-5,249	-34,527	23,470	-17,307	-3,498

Portfolio Investment	Assets	293,285	443,591	-8,393	104,790	106,618	90,270	56,581	90,133	156,801	140,076	103,265
	Liabilities	194,734	391,451	15,829	17,766	61,790	99,349	23,176	94,601	138,576	135,098	98,885

EMU	Assets	49,622	119,912	12,172	4,038	20,903	12,509	31,539	10,233	53,035	25,105	34,863
	Liabilities	90,918	132,892	6,518	19,522	24,784	40,094	-8,027	26,141	51,374	63,404	52,650
Non-EMU	Assets	243,662	323,678	-20,565	100,751	85,715	77,761	25,042	79,899	103,766	114,971	68,403
	Liabilities	103,817	258,559	9,311	-1,756	37,006	59,256	31,203	68,460	87,202	71,694	46,235
EU	Assets	61,462	136,676	13,170	6,232	25,312	16,748	38,783	17,173	54,894	25,826	46,085
	Liabilities	87,386	138,706	7,775	16,537	21,495	41,579	-5,041	24,800	53,152	65,795	54,300
Non-EU	Assets	231,823	306,915	-21,563	98,557	81,306	73,523	17,798	72,960	101,907	114,250	57,180
	Liabilities	107,349	252,745	8,054	1,229	40,295	57,771	28,217	69,800	85,424	69,304	44,585

Other Investment³	Assets	-87,839	42,802	21,596	-26,430	-9,164	-73,841	4,903	23,261	16,345	-1,707	119,878
	Liabilities	-13,727	70,620	5,471	64,966	-3,825	-80,339	41,644	20,307	7,793	876	105,450

EMU	Assets	3,859	-7,433	25,339	-7,599	617	-14,498	-8,413	-416	8,826	-7,430	32,940
	Liabilities	-37,556	8,413	4,902	2,822	3,277	-48,557	22,050	-402	-5,059	-8,176	32,813
Non-EMU	Assets	-91,700	50,234	-3,743	-18,831	-9,783	-59,343	13,316	23,677	7,518	5,723	86,937
	Liabilities	23,831	62,207	570	62,145	-7,101	-31,783	19,593	20,709	12,853	9,052	72,639
EU	Assets	3,981	2,890	25,554	-6,781	-92	-14,700	-1,853	-416	10,645	-5,486	42,048
	Liabilities	-38,680	14,262	5,611	5,871	4,882	-55,044	25,319	2,407	-6,033	-7,431	34,302
Non-EU	Assets	-91,821	39,913	-3,958	-19,649	-9,072	-59,142	6,756	23,678	5,700	3,779	77,829
	Liabilities	24,955	56,358	-140	59,097	-8,707	-25,295	16,325	17,900	13,826	8,307	71,148

Reserve Assets		-435	-138	11	-24	-529	107	-85	7	-305	245	238

Balance on Financial Account		36,919	83,145	5,723	3,580	18,387	9,229	10,789	34,196	22,797	15,363	16,638

Net errors and omissions		4,320	9,797	-5,645	-2,198	1,441	10,722	8,897	3,347	107	-2,554	10,063
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 2025

Balance of International Payments

Balance of International Payments

Current account balance of €6.6bn in quarter 1 2025

Balance of Payments Current Account

Current account (see Table 1.3)

Financial account (see Tables 1.4 and 1.5)

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