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Balance of International Payments

Balance of International Payments

Current account balance of €17.4bn in Quarter 1 2026

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 202574,219-68,3825,8373.5
Q1 202630,602-13,16017,44212.5
 
Q1-Q4 2024175,553-84,58390,97116.2
Q1-Q4 2025230,282-178,20352,0798.2

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 €17.4bn in the first quarter of 2026, an increase of €12.6bn compared with the Q1 2026 surplus of €5.8bn due to decreases in merchandise exports being offset by lower outflows of investment income. 

Current Account
Q4 2023-0.966335725857536
Q1 202413.4756457374933
Q2 202426.0444613739206
Q3 202413.7311396286923
Q4 202412.0023685891976
Q1 20253.49086051477469
Q2 202512.2461749409089
Q3 20258.75904593532295
Q4 20258.36366431040273
Q1 202612.4650237344041
MerchandiseServicesPrimary IncomeSecondary IncomeBalance on Current Account
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
Q2 202558.43112.44-50.128-1.24919.494
Q3 202555.397666.14429-46.38166-1.2193413.94096
Q4 202542.234578.09596-36.44474-1.0784912.80731
Q1 202630.60249.92963-21.52367-1.5664517.44191

Current account (see Table 1.3)

  • Merchandise exports were €77,050m in the first quarter of 2026, a decrease of €36,029m compared with the first quarter of 2025. Merchandise imports were €46,448m in first quarter of 2026, an increase of €7,588m over the same period in 2025.
  • Service exports at €126,791m increased by €11,528m compared to the first quarter of 2025, mainly due to increased computer services exports which increased by €9,299m.
  • Service imports at €116,861m were up €1,223m over the same period in 2025, mainly due to higher royalty imports which increased by €5,372m offset by business services imports which fell by €8,937m.
  • Ireland’s trade balance at €40,532m, all goods and services exports less all goods and services imports decreased by €33,312m in the first quarter of 2026 over the same period in 2025.
  • Investment income earned abroad at €78,201m, increased by €6,911m compared with one year earlier while investment income payable to foreign investors at €99,735m decreased by €38,559m. The overall income balance for the quarter at -€23,090m increased by €44,917m compared with the same period in 2025.
Direct InvestmentPortfolio InvestmentOther InvestmentReserve AssetsBalance on Financial Account
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 2025-3.7886.62611.9490.23815.027
Q2 202538.80242.133-60.351-0.29120.292
Q3 2025-19.1374830.78753-5.268890.106916.48806
Q4 202518.63611-7.46037-2.29905-0.05458.82218000000002
Q1 2026-4.48572-44.5046751.740490.018212.76831

Financial account (see Tables 1.4 and 1.5)

  • Direct investment in Ireland increased by €25,451m in the first quarter of 2026. This was due to increases in other capital investment of €27,548m and equity investment of €1,994m offset by reinvested earnings of -€4,091m.
  • Direct investment abroad increased by €20,965m in the quarter, due to increases in other capital investment of €11,048m and equity investment of €10,968m offset by reinvested earnings of -€1,051m.
  • Portfolio investment in foreign assets increased by €162,402m in the quarter due to increased investment in foreign equity and debt instruments (up €84,926m and €77,476m respectively). Portfolio investment in Ireland increased by €206,907m mainly due to an increase in equity investment of €200,156m as well as increased debt instruments of €6,752m.
  • Other investment assets grew by €146,106m while other investment liabilities also increased by €94,365m in the first quarter of 2026.
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