Back to Top

How is the CSO doing?

Your feedback can help us improve and enhance our services to the public. Tell us what matters to you in our online Customer Satisfaction Survey.

 Skip navigation

Balance of International Payments

Balance of International Payments

Current account balance of €5.8bn in Quarter 1 2025

Online ISSN: 2565-6384
CSO statistical release, , 11am
Table 1.1 Balance of International Payments€ million
 Merchandise BalanceServices and Income BalanceCurrent Account BalanceCurrent Account Balance as % of GDP
Q1 202439,060-21,14917,91213.5
Q1 202574,219-68,3825,8373.5
 
Q1-Q4 2023156,686-119,77036,9167.0
Q1-Q4 2024175,553-84,58390,97116.2

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 €5.8bn in the first quarter of 2025, a decrease of €12.1bn compared with the Q1 2024 surplus of €17.9bn due to increases in both the merchandise and services balance being offset by increased outflows of investment income.

Current Account
Q4 20225.6895945153579
Q1 20238.27825484930378
Q2 20238.52016115699071
Q3 202312.0696369727047
Q4 2023-0.966335762589761
Q1 202413.4756461475278
Q2 202426.0444616113246
Q3 202413.7311394649722
Q4 202412.0023682063667
Q1 20253.49396535257774
MerchandiseServicesPrimary IncomeSecondary IncomeBalance on Current Account
Q4 202254.578-4.849-40.621-1.2247.884
Q1 202354.0912.575-44.541-1.20110.924
Q2 202336.8888.983-33.674-1.14311.054
Q3 202336.18312.995-31.907-1.08816.184
Q4 202329.524-5.964-23.578-1.227-1.246
Q1 202439.0614.876-34.858-1.16717.912
Q2 202438.57826.524-28.731-1.16135.211
Q3 202442.91111.427-33.6-1.04119.696
Q4 202455.0046.863-42.496-1.21918.152
Q1 202574.219-0.375-66.959-1.0485.837

Current account (see Table 1.3)

  • Merchandise exports were €113,079m in the first quarter of 2025, an increase of €37,540m compared with the first quarter of 2024. Merchandise imports were €38,860m in first quarter of 2025, an increase of €2,381m over the same period in 2024.
  • Service exports at €115,263m increased by €7,996m compared to the first quarter of 2024, mainly due to higher computer services exports which increased by €8,256m.
  • Service imports at €115,638m were up €23,247m over the same period in 2024, mainly due to higher business services imports which increased by €16,566m and royalty imports which increased by €6,431m.
  • Ireland’s trade balance at €73,844m, all goods and services exports less all goods and services imports increased by €19,908m in the first quarter of 2025 over the same period in 2024. 
  • Investment income earned abroad at €71,290m, increased by €7,744m compared with one year earlier while investment income payable to foreign investors at €138,294m increased by €39,780m. The overall income balance for the quarter at -€68,007m decreased by €31,983m compared with the same period in 2024.
Direct InvestmentPortfolio InvestmentOther InvestmentReserve AssetsBalance on Financial Account
Q4 202211.956-27.12726.093-0.02210.9
Q1 202313.465-24.24116.640.0115.875
Q2 20238.72686.983-90.067-0.0245.616
Q3 2023-21.69144.794-10.029-0.52912.544
Q4 202313.168-8.9611.2410.1075.555
Q1 202420.34829.638-39.238-0.08510.661
Q2 202447.519-5.109-1.5090.00740.907
Q3 2024-16.84723.75310.03-0.30516.631
Q4 202411.10914.697-0.9640.24525.087
Q1 2025-3.7934.3812.530.23813.354

Financial account (see Tables 1.4 and 1.5)

  • Direct investment in Ireland increased by €17,184m in the first quarter of 2025. This was due to an increase in increased reinvested earnings of €55,805m offset by other capital investment of €38,911m.
  • Direct investment abroad increased by €13,391m in the quarter, due to increased reinvested earnings of €15,772m 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 €117,976m while other investment liabilities grew by €105,446m in the first quarter of 2025. 
Table 1.2 Summary of Current, Capital and Financial Account Balances

Table 1.3 Current and Capital Accounts

Table 1.4 Financial Account

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

Table 1.6 Current and Capital Accounts showing geographical detail

Table 1.7 Financial Account showing geographical detail