Ireland’s trade balance at €64.0bn, all goods and services exports less all goods and services imports, increased by €21bn in the second quarter of 2024 over the same period in 2023, mainly due to an increase in R&D related IP exports.
| Goods | of which International Trade | |
| Q1 2022 | 78.38 | 52.2 |
| Q2 2022 | 85.329 | 52.834 |
| Q3 2022 | 94.696 | 53.728 |
| Q4 2022 | 96.381 | 50.001 |
| Q1 2023 | 88.961 | 50.949 |
| Q2 2023 | 74.136 | 50.216 |
| Q3 2023 | 71.383 | 47.651 |
| Q4 2023 | 71.2 | 47.884 |
| Q1 2024 | 75.526 | 53.239 |
| Q2 2024 | 79.293 | 54.173 |
Merchandise exports were €79.3bn in the second quarter of 2024, an increase of €5.2bn compared with the same quarter of 2023.
| Goods | of which International Trade | |
| Q1 2022 | 32.152 | 29.167 |
| Q2 2022 | 37.517 | 35.778 |
| Q3 2022 | 38.181 | 34.453 |
| Q4 2022 | 41.803 | 35.783 |
| Q1 2023 | 35.197 | 33.179 |
| Q2 2023 | 38.351 | 34.624 |
| Q3 2023 | 34.54 | 31.096 |
| Q4 2023 | 41.533 | 35.267 |
| Q1 2024 | 36.711 | 29.905 |
| Q2 2024 | 39.76 | 31.957 |
Merchandise imports were €39.8bn in the second quarter of 2024, an increase of €1.4bn compared with the same period in 2023.
| Q2 2024 | Q2 2023 | |
| Computer Services | 66.5 | 55.2 |
| Business Services | 37.4 | 17.6 |
| Financial Services | 6.3 | 5.2 |
| Other Services n.e.s | 6.9 | 7.1 |
| Insurance | 4.1 | 3.9 |
| Royalties/Licences | 3.9 | 3.2 |
| Transport | 2.7 | 2.8 |
| Tourism and Travel | 2 | 1.7 |
| Repairs and Processing | 0.3 | 0.8 |
| Communications | 0.037 | 0.045 |
Service exports, at €130.1bn, increased by €32.5bn compared to the second quarter of 2023, mainly due to higher R&D related IP exports.
| Q2 2024 | Q2 2023 | |
| Royalties/Licences | 41.6 | 30.7 |
| Business Services | 37.6 | 35.7 |
| Financial Services | 5.6 | 5.2 |
| Other Services n.e.s | 5.6 | 4.8 |
| Computer Services | 4.7 | 2.9 |
| Insurance | 3.3 | 3.7 |
| Tourism and Travel | 3.2 | 3.4 |
| Repairs and Processing | 2.2 | 2.6 |
| Transport | 1.6 | 1.4 |
| Communications | 0.2 | 0.2 |
Service imports, at €105.7bn, were up €15.2bn compared to the second quarter of 2023, mainly due to increased royalty imports and increased business service imports.
| Royalties/Licences Exports | of which Pharmaceutical | of which Information and Communication | |
| Q1 2022 | 3.693 | 0.037 | 2.333 |
| Q2 2022 | 3.54 | 0.036 | 1.905 |
| Q3 2022 | 3.266 | 0.057 | 1.089 |
| Q4 2022 | 4.355 | 0.059 | 2.018 |
| Q1 2023 | 3.711 | 0.043 | 1.12 |
| Q2 2023 | 3.229 | 0.085 | 1.193 |
| Q3 2023 | 3.476 | 0.028 | 0 |
| Q4 2023 | 4.883 | 0.111 | 0 |
| Q1 2024 | 3.664 | 0.096 | 0.921 |
| Q2 2024 | 3.87 | 0.154 | 1.222 |
| Royalties/Licences Imports | of which Pharmaceutical | of which Information and Communication | |
| Q1 2022 | 29.196 | 3.981 | 0 |
| Q2 2022 | 32.584 | 7.87 | 0 |
| Q3 2022 | 33.008 | 7.835 | 0 |
| Q4 2022 | 41.592 | 11.36 | 0 |
| Q1 2023 | 36.751 | 6.055 | 0 |
| Q2 2023 | 30.665 | 6.543 | 0 |
| Q3 2023 | 33.295 | 4.463 | 0 |
| Q4 2023 | 41.073 | 7.856 | 0 |
| Q1 2024 | 37.211 | 4.919 | 0 |
| Q2 2024 | 41.647 | 6.405 | 0 |
Please note: the figures for royalties/licences imports of which information and communication are suppressed due to confidentiality requirements.
Royalties/licences imports were €41.6bn in the second quarter of 2024, up €11bn on the same period in 2023.
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