You are here: Home / Statistics / International Accounts Q2 2025 / Balance of International Payments

International Accounts Q2 2025

Balance of International Payments

Current account balance of €19.5bn in Quarter 2 2025

Online ISSN: 2565-6384

CSO statistical release, 04 September 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
Q2 2024	38,578	-3,368	35,211	26.0
Q2 2025	58,431	-38,937	19,494	12.2

Q1-Q2 2024	77,638	-24,517	53,123	19.8
Q1-Q2 2025	132,650	-107,319	25,331	7.8

Open in Excel: International Accounts Q2 2025 Table 1.1 (XLS 13KB)

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 €19.5bn in the second quarter of 2025, a decrease of €15.7bn compared with the Q2 2024 surplus of €35.2bn due to increases in the merchandise balance being offset by a reduction in the services balance and by increased outflows of investment income.

	Current Account
Q1 2023	8.27825455276501
Q2 2023	8.5201609036962
Q3 2023	12.0696371112339
Q4 2023	-0.966335725859607
Q1 2024	13.4756457375444
Q2 2024	26.0444613739888
Q3 2024	13.7311396287613
Q4 2024	12.0023685892062
Q1 2025	3.49396541737086
Q2 2025	12.2079330576273

	Merchandise	Services	Primary Income	Secondary Income	Balance on Current Account
Q1 2023	54.091	2.575	-44.541	-1.201	10.924
Q2 2023	36.888	8.983	-33.674	-1.143	11.054
Q3 2023	36.183	12.995	-31.907	-1.088	16.184
Q4 2023	29.524	-5.964	-23.578	-1.227	-1.246
Q1 2024	39.06	14.876	-34.858	-1.167	17.912
Q2 2024	38.578	26.524	-28.731	-1.161	35.211
Q3 2024	42.911	11.427	-33.6	-1.041	19.696
Q4 2024	55.004	6.863	-42.496	-1.219	18.152
Q1 2025	74.219	-0.375	-66.959	-1.048	5.837
Q2 2025	58.431	12.44	-50.128	-1.249	19.494

Current account (see Table 1.3)

Merchandise exports were €94,591m in the second quarter of 2025, an increase of €16,368m compared with the second quarter of 2024. Merchandise imports were €36,160m in second quarter of 2025, a decrease of €3,484m over the same period in 2024.
Service exports at €123,140m decreased by €8,702m compared to the second quarter of 2024, mainly due to lower business services exports which decreased by €17,975m, offset by computer services exports which grew by €8,080.
Service imports at €110,700m were up €5,382m over the same period in 2024, mainly due to higher royalty imports which increased by €4,993m.
Ireland’s trade balance at €70,871m, all goods and services exports less all goods and services imports increased by €16,935m in the second quarter of 2025 over the same period in 2024.
Investment income earned abroad at €70,984m, decreased by €7,104m compared with one year earlier while investment income payable to foreign investors at €138,294m increased by €14,279m. The overall income balance for the quarter at -€51,376m decreased by €21,484m compared with the same period in 2024.

	Direct Investment	Portfolio Investment	Other Investment	Reserve Assets	Balance on Financial Account
Q1 2023	13.465	-24.241	16.64	0.011	5.875
Q2 2023	8.726	86.983	-90.067	-0.024	5.616
Q3 2023	-21.691	44.794	-10.029	-0.529	12.544
Q4 2023	13.168	-8.961	1.241	0.107	5.555
Q1 2024	20.348	29.638	-39.238	-0.085	10.661
Q2 2024	47.519	-5.109	-1.509	0.007	40.907
Q3 2024	-16.847	23.753	10.03	-0.305	16.631
Q4 2024	11.109	14.697	-0.964	0.245	25.087
Q1 2025	-3.788	6.626	11.949	0.238	15.027
Q2 2025	38.802	42.133	-60.351	-0.291	20.293

Financial account (see Tables 1.4 and 1.5)

Direct investment in Ireland decreased by €33,985m in the second quarter of 2025. This was due to a decrease in increased reinvested earnings of €38,195m and equity investment of €7,871m offset by other capital investment of €12,081m.
Direct investment abroad increased by €4,817m in the quarter, due to decreased reinvested earnings of €5,376m offset by increased equity investment of €4,074m and other capital investment of €6,119m.
Portfolio investment in foreign assets increased by €109,385m in the quarter due to increased investment in foreign equity and debt instruments (up €39,670m and €69,716m respectively). Portfolio investment in Ireland increased by €67,252m mainly due to an increase in equity investment of €56,568m as well as increased debt instruments of €10,684m.
Other investment assets fell by €34,511m while other investment liabilities grew by €25,840m in the second 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	-42,574	-3,673
2021	Year	168,415	18,868	-128,199	-4,436	-113,767	54,648	1,502	41,504	-10,478	16,649	4,980	52,657	-3,493
2022	Year	205,133	9,698	-164,484	-4,704	-159,490	45,643	-927	24,964	-138,795	157,710	485	44,364	-352
2023	Year	156,686	18,589	-133,700	-4,659	-119,770	36,916	-8,725	13,668	98,575	-82,215	-435	29,590	1,399
2024	Year	159,609	67,703	-132,047	-4,536	-68,880	90,731	-4,073	62,129	62,979	-31,681	-138	93,286	4,896

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	-58,695	-8,357
	Quarter 2	34,324	2,688	-24,286	-982	-22,580	11,743	-7,552	-49,604	59,979	-2,251	-14	8,110	3,919
	Quarter 3	37,523	4,852	-30,755	-736	-26,639	10,883	-2,080	-9,988	-6,585	18,997	761	3,184	-5,619
	Quarter 4	34,401	-12,852	-22,877	-1,045	-36,774	-2,373	816	4,027	20,272	-19,869	396	4,827	6,384
2021	Quarter 1	42,172	9,412	-34,612	-1,290	-26,490	15,682	2,974	15,274	16,826	-22,368	173	9,906	-8,750
	Quarter 2	39,900	9,527	-33,275	-1,006	-24,754	15,146	914	3,022	-4,691	22,982	72	21,386	5,326
	Quarter 3	45,021	9,529	-33,039	-695	-24,205	20,816	-333	3,382	-6,259	10,825	4,081	12,029	-8,454
	Quarter 4	41,322	-9,600	-27,273	-1,445	-38,318	3,004	-2,053	19,826	-16,354	5,210	654	9,336	8,385
2022	Quarter 1	46,228	9,386	-39,858	-1,178	-31,650	14,578	772	16,015	-39,856	43,463	-129	19,493	4,143
	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	54,091	2,575	-44,541	-1,201	-43,167	10,924	-492	13,465	-24,241	16,640	11	5,875	-4,557
	Quarter 2	36,888	8,983	-33,674	-1,143	-25,834	11,054	-5,680	8,726	86,983	-90,067	-24	5,616	242
	Quarter 3	36,183	12,995	-31,907	-1,088	-20,000	16,184	-1,673	-21,691	44,794	-10,029	-529	12,544	-1,967
	Quarter 4	29,524	-5,964	-23,578	-1,227	-30,769	-1,246	-880	13,168	-8,961	1,241	107	5,555	7,681
2024	Quarter 1	39,060	14,876	-34,858	-1,167	-21,149	17,912	-1,634	20,348	29,638	-39,238	-85	10,661	-5,617
	Quarter 2	38,578	26,524	-28,731	-1,161	-3,368	35,211	-426	47,519	-5,109	-1,509	7	40,907	6,122
	Quarter 3	42,911	11,427	-33,600	-1,041	-23,214	19,696	-379	-16,847	23,753	10,030	-305	16,631	-2,686
	Quarter 4	55,004	6,863	-42,496	-1,219	-36,852	18,152	-142	11,109	14,697	-964	245	25,087	7,077
2025	Quarter 1	74,219	-375	-66,959	-1,048	-68,382	5,837	-11	-3,788	6,626	11,949	238	15,027	9,201
	Quarter 2	58,431	12,440	-50,128	-1,249	-38,937	19,494	-4,842	38,802	42,133	-60,351	-291	20,293	5,641
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 Q2 2025 Table 1.2 (XLS 21KB)

Visit Table BPQ15 on PxStat

Table 1.3 Current and Capital Accounts

Table 1.3 Current and Capital Accounts									€ million
		2023	2024	2024				2025
Item		Year	Year	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2
Current Account
Merchandise¹	Exports	306,245	327,370	75,539	78,223	81,402	92,206	113,079	94,591
	Imports	149,558	151,817	36,479	39,644	38,492	37,202	38,860	36,160

International trade	Exports	196,030	224,738	54,027	54,180	57,993	58,538	88,375	63,139
	Imports	134,698	128,352	30,437	32,000	32,399	33,516	34,197	32,517
Goods for processing	Exports	97,631	91,112	20,103	21,704	19,490	29,815	17,440	26,168
	Imports	9,711	16,037	4,925	5,656	3,499	1,957	3,487	1,547
Other conceptual adjustments	Exports	-14,563	-20,109	-3637	-4940	-3987	-7,545	-3,833	-6,238
	Imports	5,150	7,428	1117	1988	2593	1,730	1,176	2,096
Merchanting (net export)	Exports	27,146	31,630	5,047	7,279	7,906	11,398	11,098	11,521

Services	Exports	410,148	482,967	107,267	131,842	115,965	127,893	115,263	123,140
	Imports	391,559	423,277	92,391	105,318	104,538	121,030	115,638	110,700
Repairs and Processing	Exports	2,805	1,164	226	239	261	438	211	254
	Imports	11,712	8,850	1,952	2,077	1,960	2,861	1,998	2,065
Transport	Exports	10,541	10,767	1,830	2,699	3,950	2,288	1,629	3,249
	Imports	5,800	5,941	1,409	1,551	1,509	1,472	1,506	1,411
Tourism and Travel ²	Exports	6,981	7,256	1,370	1,993	2,335	1,558	1,116	1,797
	Imports	12,219	13,075	2,055	3,621	4,050	3,349	2,339	3,378
Insurance	Exports	15,886	17,017	3,880	4,149	4,426	4,562	4,509	4,446
	Imports	14,248	14,704	3,630	3,309	3,758	4,007	3,731	3,597
Financial services	Exports	22,987	26,895	6,688	6,645	6,522	7,040	6,624	7,201
	Imports	20,317	23,602	5,922	5,766	5,743	6,171	5,822	6,489
Royalties/Licences	Exports	16,177	16,316	3,255	3,777	4,047	5,237	3,238	3,545
	Imports	142,506	164,173	35,614	39,791	39,837	48,931	42,045	44,784
of which: Pharmaceutical products and preparations	Exports	269	2,084	..	..	..	660	..	..
	Imports	25,738	23,191	4,835	5,222	4,431	8,703	5,702	5,966
Information and communication	Exports	6,342	2,056	950	..	1,106	..	838	1,214
	Imports	99,342	125,922	..	..	..	..	..	..
Communications	Exports	173	223	55	56	56	56	55	57
	Imports	792	893	216	216	218	243	216	218
Computer services³	Exports	234,216	278,729	64,161	67,786	68,063	78,719	72,417	75,866
	Imports	11,603	16,982	3,913	4,304	4,304	4,461	4,119	5,275
Business services	Exports	71,196	94,510	19,397	36,871	18,554	19,688	17,557	18,896
	Imports	153,514	152,649	32,591	38,308	37,855	43,895	49,157	38,121
Research and development	Exports	10,621	32,681	4,022	..	3,073	..	2,298	3,732
	Imports	56,543	44,866	9,125	11,689	11,264	12,788	22,784	11,525
of which: IP related	Exports	2,068	21,096	518	..	510	..	192	236
	Imports	16,481	2,724	175	934	644	971	10,996	602
Operational leasing	Exports	19,791	20,114	4,970	5,000	5,070	5,074	5,166	5,127
	Imports	1,684	1,771	436	443	438	454	460	474
Misc. business services⁴	Exports	40,783	41,717	10,405	..	10,412	..	10,093	10,037
	Imports	95,288	106,012	23,029	26,176	26,154	30,653	25,913	26,123
Other services n.e.s.	Exports	29,184	30,091	6,405	7,626	7,751	8,309	7,907	7,829
	Imports	18,848	22,410	5,091	6,376	5,304	5,639	4,705	5,360

Merchandise and Services - Total	Exports	716,394	810,337	182,806	210,064	197,367	220,100	228,342	217,731
	Imports	541,117	575,093	128,870	144,962	143,029	158,232	154,498	146,860

Trade Balance	Net	175,276	235,245	53,936	65,103	54,338	61,868	73,844	70,871

Primary Income	Inflows	254,016	288,679	64,059	78,637	71,382	74,601	71,759	71,524
	Outflows	387,717	428,365	98,917	107,368	104,983	117,097	138,718	121,652
Compensation of Employees	Inflows	528	612	132	151	182	147	147	147
	Outflows	959	1,016	226	248	281	261	258	256
Investment Income	Inflows	252,291	286,483	63,546	78,088	70,786	74,063	71,290	70,984
	Outflows	385,837	426,686	98,514	106,966	104,549	116,657	138,294	121,245
Direct investment income	Inflows	67,577	74,255	14,118	20,514	16,619	23,004	20,858	16,572
	Outflows	197,577	210,267	47,644	47,370	50,550	64,703	85,695	66,120

of which: Manufacturing	Outflows	119,863	123,704	28,947	24,839	32,264	37,654	61,559	43,616
Information and communication	Outflows	43,391	54,670	11,966	14,604	11,722	16,378	16,349	16,377

Income on equity	Inflows	62,503	70,238	13,143	19,488	15,604	22,003	19,839	15,579
	Outflows	182,532	199,255	44,430	44,532	47,947	62,346	83,503	64,030
Dividends & distributed	Inflows	18,496	40,784	1,491	..	..	4,812	4,067	20,954
branch profits	Outflows	189,353	155,467	44,010	43,086	42,180	26,191	27,719	102,244
Reinvested earnings	Inflows	44,005	29,453	11,652	..	..	17,190	15,772	-5,376
	Outflows	-6,818	43,789	420	1,447	5,767	36,155	55,784	-38,214
Income on debt	Inflows	5,077	4,018	976	1,026	1,015	1,001	1,019	993
	Outflows	15,044	11,012	3,214	2,837	2,603	2,358	2,192	2,090
Portfolio investment income	Inflows	121,628	141,259	32,266	38,985	35,842	34,166	35,539	39,196
	Outflows	150,290	167,442	40,002	46,364	41,433	39,643	40,684	44,021
Income on equity	Inflows	37,844	42,100	9,314	13,291	10,616	8,879	10,696	14,704
	Outflows	116,756	135,685	31,062	37,767	34,442	32,414	33,509	37,054
Income on debt	Inflows	83,784	99,157	22,951	25,693	25,226	25,287	24,843	24,492
	Outflows	33,533	31,757	8,940	8,597	6,991	7,229	7,175	6,968
Other investment income	Inflows	63,087	70,970	17,162	18,590	18,325	16,893	14,893	15,217
	Outflows	37,970	48,978	10,868	13,233	12,566	12,311	11,916	11,103
Other primary income	Inflows	1,199	1,585	382	398	414	391	322	393
	Outflows	923	662	176	154	153	179	165	151

Secondary Income	Inflows	9,619	9,346	2,066	2,490	2,656	2,134	2,344	2,361
	Outflows	14,278	13,934	3,232	3,650	3,698	3,354	3,393	3,610

Income Balance	Net	-138,358	-144,273	-36,024	-29,892	-34,642	-43,715	-68,007	-51,376

Current Account - Total	Inflows	980,029	1,108,363	248,931	291,191	271,406	296,835	302,445	291,616
	Outflows	943,112	1,017,392	231,020	255,980	251,710	278,682	296,608	272,122

Current Account Balance	Net	36,916	90,971	17,912	35,211	19,696	18,152	5,837	19,494

Capital Account Balance	Net	-8,725	-2,581	-1,634	-426	-379	-142	-11	-4,842

Memorandum Item:
Government Income	Inflows	109	362	89	87	117	69	122	-27
	Outflows	2,578	2,662	828	545	722	567	767	429
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.

Open in Excel: International Accounts Q2 2025 Table 1.3 (XLS 21KB)

Visit Table BPQ19 on PxStat

Table 1.4 Financial Account

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

Direct Investment	Abroad	-96,377	27,824	22,011	24,512	-5,189	-13,510	13,397	4,817
	In Ireland	-110,044	-34,306	1,662	-23,007	11,658	-24,619	17,184	-33,985

Equity	Abroad	-156,788	-43,992	944	-12,117	..	..	-2,315	4,074
	In Ireland	-121,794	20,430	-11,545	22,902	3,702	5,371	290	-7,871
Reinvested Earnings	Abroad	43,981	29,486	11,652	2,378	..	..	15,772	-5,376
	In Ireland	-7,499	43,967	414	1,484	5,840	36,229	55,805	-38,195
Other Capital	Abroad	16,433	42,330	9,415	34,251	6,385	-7,721	-59	6,119
	In Ireland	19,250	-98,704	12,794	-47,393	2,115	-66,220	-38,911	12,081

Portfolio Investment	Assets	293,513	455,046	57,502	94,630	155,227	147,687	109,218	109,385
	Liabilities	194,938	392,067	27,864	99,739	131,474	132,990	102,592	67,252

Equity	Assets	118,759	182,650	16,040	49,293	44,986	72,331	56,928	39,670
	Liabilities	153,633	352,501	32,975	79,601	123,596	116,329	96,277	56,568
Debt Instruments	Assets	174,754	272,396	41,462	45,337	110,241	75,356	52,290	69,716
	Liabilities	41,304	39,568	-5,110	20,139	7,878	16,661	6,315	10,684
Bonds and notes	Assets	159,198	191,997	56,011	44,699	51,127	40,160	63,038	66,174
	Liabilities	31,354	35,548	-5,991	19,368	12,246	9,925	3,445	15,013
Money market instruments	Assets	15,556	80,399	-14,549	638	59,114	35,196	-10,748	3,541
	Liabilities	9,950	4,021	880	771	-4,367	6,737	2,870	-4,328

Other Investment	Assets	-96,645	37,037	1,251	27,239	10,476	-1,929	120,550	-34,511
	Liabilities	-14,430	68,718	40,489	28,748	446	-965	108,601	25,840

Loans, currency and deposits	Assets	43,836	62,578	-17,108	30,743	9,445	39,498	62,812	39,278
	Liabilities	14,667	38,374	14,708	3,767	-11,459	31,358	32,864	56,246
Other²	Assets	-140,483	-25,544	18,358	-3,506	1,031	-41,427	57,740	-73,790
	Liabilities	-29,094	30,345	25,782	24,981	11,905	-32,323	75,738	-30,405

Reserve Assets		-435	-138	-85	7	-305	245	238	-291

Monetary gold		0	0	0	0	0	0	0	0
Special drawing rights		-53	40	13	12	4	11	9	-3
Reserve position in the IMF		-4	-122	9	-54	-8	-69	43	33
Foreign exchange		-324	-153	-361	1	-321	528	132	-172
Other		-53	96	254	48	19	-225	53	-149

Balance on Financial Account		29,590	93,286	10,661	40,907	16,631	25,087	15,027	20,293

Net errors and omissions		1,399	4,896	-5,617	6,122	-2,686	7,077	9,201	5,641
Memorandum Item:
Government financial	Assets	4,182	20,252	1,943	-2,532	3,453	17,388	1,735	206
transactions	Liabilities	-636	-792	-1,830	459	1,199	-620	-5,580	-355
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.
.. Data suppressed for confidentiality reasons

Open in Excel: International Accounts Q2 2025 Table 1.4 (XLS 17KB)

Visit Table BPQ17 on PxStat

Visit Table BPQ16 on PxStat

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 Sector¹									€ million
		2023	2024	2024				2025
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2
Current Account - Total	Inflows	980,029	1,108,363	248,931	291,191	271,406	296,835	302,445	291,616
	Outflows	943,112	1,017,392	231,020	255,980	251,710	278,682	296,608	272,122

Merchandise²	Exports	306,245	327,370	75,539	78,223	81,402	92,206	113,079	94,591
	Imports	149,558	151,817	36,479	39,644	38,492	37,202	38,860	36,160

Services	Exports	410,148	482,967	107,267	131,842	115,965	127,893	115,263	123,140
	Imports	391,559	423,277	92,391	105,318	104,538	121,030	115,638	110,700

General Government	Exports	412	412	103	103	103	103	69	104
	Imports	105	109	27	29	25	28	28	23
Monetary Authority ³	Exports	0	0	0	0	0	0	0	0
	Imports	0	0	0	0	0	0	0	0
Monetary Financial Institutions⁴	Exports	9,750	10,940	2,547	2,789	2,795	2,809	2,820	2,738
	Imports	3,844	4,512	1,105	1,144	1,144	1,119	1,061	1,068
Other Sectors⁵	Exports	399,987	471,614	104,617	128,950	113,066	124,981	112,374	120,298
	Imports	387,610	418,654	91,259	104,144	103,368	119,883	114,549	109,609
of which:
Other Financial Intermediaries	Exports	40,996	43,270	10,326	10,378	10,855	11,711	10,993	12,023
	Imports	41,565	44,251	10,914	10,480	10,967	11,890	11,096	11,894
Non-Financial Companies⁶	Exports	358,991	428,343	94,290	118,572	102,211	113,270	101,381	108,274
	Imports	346,046	374,402	80,345	93,664	92,401	107,992	103,453	97,715

Primary Income	Inflows	254,016	288,679	64,059	78,637	71,382	74,601	71,759	71,524
	Outflows	387,717	428,365	98,917	107,368	104,983	117,097	138,718	121,652

General Government	Inflows	109	362	89	87	117	69	122	-27
	Outflows	2,578	2,662	828	545	722	567	767	429
Monetary Authority ³	Inflows	175	196	49	49	49	49	49	49
	Outflows	0	0	0	0	0	0	0	0
Monetary Financial Institutions⁴	Inflows	38,353	45,602	11,494	11,215	11,361	11,532	10,502	9,955
	Outflows	37,171	46,249	11,345	11,098	11,821	11,985	10,629	9,839
Other Sectors⁵	Inflows	215,379	242,518	52,427	67,285	59,855	62,951	61,085	61,547
	Outflows	347,968	379,452	86,744	95,724	92,439	104,545	127,322	111,383
of which:
Other Financial Intermediaries	Inflows	153,545	172,067	39,306	47,538	42,216	43,007	43,985	45,690
	Outflows	150,431	171,274	38,788	49,046	41,713	41,727	42,120	44,441
Non-Financial Companies⁶	Inflows	61,833	70,452	13,121	19,747	17,639	19,945	17,101	15,857
	Outflows	197,536	208,179	47,956	46,679	50,726	62,818	85,203	66,942

Secondary Income	Inflows	9,619	9,346	2,066	2,490	2,656	2,134	2,344	2,361
	Outflows	14,278	13,934	3,232	3,650	3,698	3,354	3,393	3,610

General Government	Inflows	368	172	27	-3	128	20	0	5
	Outflows	3,912	3,845	975	933	943	994	803	1,007
Monetary Authority ³	Inflows	0	0	0	0	0	0	0	0
	Outflows	0	0	0	0	0	0	0	0
Monetary Financial Institutions⁴	Inflows	0	0	0	0	0	0	0	0
	Outflows	0	0	0	0	0	0	0	0
Other Sectors⁵	Inflows	9,252	9,176	2,039	2,493	2,529	2,115	2,344	2,357
	Outflows	10,366	10,088	2,257	2,717	2,754	2,360	2,590	2,603
of which:
Other Financial Intermediaries	Inflows	8,150	7,841	1,702	2,155	2,189	1,795	2,025	2,040
	Outflows	8,150	7,841	1,702	2,155	2,189	1,795	2,025	2,040
Non-Financial Companies⁶	Inflows	1,101	1,331	336	337	339	319	319	317
	Outflows	2,217	2,247	555	562	565	565	565	563

Balance on Current Account		36,916	90,971	17,912	35,211	19,696	18,152	5,837	19,494

Balance on Capital Account		-8,725	-2,581	-1,634	-426	-379	-142	-11	-4,842

Financial Account⁷
Direct investment	Abroad	-96,377	27,824	22,011	24,512	-5,189	-13,510	13,397	4,817
	In Ireland	-110,044	-34,306	1,662	-23,007	11,658	-24,619	17,184	-33,985

General Government	Abroad	0	..	..	..	..	0	0	0
	In Ireland	0	0	0	0	0	0	0	0
Monetary Authority ³	Abroad	0	0	0	0	0	0	0	0
	In Ireland	0	0	0	0	0	0	0	0
Monetary Financial Institutions⁴	Abroad	230	..	..	..	..	64	-52	551
	In Ireland	16,973	2,620	247	283	923	1,167	413	52
Other Sectors⁵	Abroad	-96,605	28,389	21,979	24,488	-4,506	-13,572	13,449	4,265
	In Ireland	-127,014	-36,925	1,416	-23,291	10,736	-25,786	16,772	-34,037
of which:
Other Financial Intermediaries	Abroad	5,036	5,556	1,785	3,320	-1,243	1,694	3,210	986
	In Ireland	17,189	18,810	19,110	-11,781	12,227	-746	1,498	-20,063
Non-Financial Companies⁶	Abroad	-101,641	22,833	20,194	21,168	-3,263	-15,266	10,239	3,279
	In Ireland	-144,203	-55,735	-17,694	-11,510	-1,491	-25,040	15,274	-13,974

Portfolio investment	Assets	293,513	455,046	57,502	94,630	155,227	147,687	109,218	109,385
	Liabilities	194,938	392,067	27,864	99,739	131,474	132,990	102,592	67,252

General Government	Assets	-117	10,550	84	-292	3,341	7,417	260	269
	Liabilities	1,436	-232	-1,033	461	959	-619	-3,182	-353
Monetary Authority ³	Assets	418	0	0	0	0	0	0	0
	Liabilities	0	0	0	0	0	0	0	0
Monetary Financial Institutions⁴	Assets	42,023	97,466	-2,045	12,048	57,551	29,912	-9,681	21,752
	Liabilities	34,015	93,480	-17,340	21,604	56,933	32,283	21,876	13,211
Other Sectors⁵	Assets	251,189	347,030	59,463	82,875	94,334	110,358	118,639	87,365
	Liabilities	159,488	298,820	46,237	77,675	73,583	101,325	83,897	54,395
of which:
Other Financial Intermediaries	Assets	251,369	346,384	..	..	..	110,026	118,529	87,705
	Liabilities	159,120	305,099	44,413	76,758	78,800	105,128	83,506	55,779
Non-Financial Companies⁶	Assets	-180	646	..	..	..	332	110	-340
	Liabilities	368	-6,279	1,824	917	-5,217	-3,803	391	-1,384

Other investment	Assets	-96,645	37,037	1,251	27,239	10,476	-1,929	120,550	-34,511
	Liabilities	-14,430	68,718	40,489	28,748	446	-965	108,601	25,840

General Government	Assets	4,299	9,702	1,859	-2,240	112	9,971	1,475	-63
	Liabilities	-2,072	-560	-797	-2	240	-1	-2,398	-2
Monetary Authority ³	Assets	-4,399	-2,705	-8,117	8,792	-1,539	-1,841	-5,208	-489
	Liabilities	1,717	1,475	264	259	414	538	363	-777
Monetary Financial Institutions⁴	Assets	-25,546	45,836	6,982	18,048	9,384	11,422	73,860	27,634
	Liabilities	-21,939	24,481	20,628	860	350	2,643	44,637	27,732
Other Sectors⁵	Assets	-70,998	-15,796	527	2,639	2,519	-21,481	50,425	-61,594
	Liabilities	7,865	43,321	20,393	27,631	-559	-4,144	65,999	-1,113
of which:
Other Financial Intermediaries	Assets	-78,843	-10,478	8,715	-29	-3,070	-16,094	59,428	-60,200
	Liabilities	6,670	39,411	24,271	20,762	-5,453	-169	68,146	-8,028
Non-Financial Companies⁶	Assets	7,845	-5,318	-8,188	2,668	5,589	-5,387	-9,003	-1,394
	Liabilities	1,195	3,910	-3,878	6,869	4,894	-3,975	-2,147	6,915

Reserve Assets		-435	-138	-85	7	-305	245	238	-291

Balance on Financial Account		29,590	93,286	10,661	40,907	16,631	25,087	15,027	20,293
Net errors and omissions		1,399	4,896	-5,617	6,122	-2,686	7,077	9,201	5,641
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

Open in Excel: International Accounts Q2 2025 Table 1.5 (XLS 21KB)

Visit Table BPQ33 on PxStat

Table 1.6 Current and Capital Accounts showing geographical detail

Table 1.6 Current and Capital Accounts showing geographical¹ detail									€ million
		2023	2024	2024				2025
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2

Current Account - Total	Inflows	980,029	1,108,363	248,931	291,191	271,406	296,835	302,445	291,616
	Outflows	943,112	1,017,392	231,020	255,980	251,710	278,682	296,608	272,122

Merchandise²	Exports	306,245	327,370	75,539	78,223	81,402	92,206	113,079	94,591
	Imports	149,558	151,817	36,479	39,644	38,492	37,202	38,860	36,160
EMU	Exports	103,618	106,987	25,668	22,957	24,741	33,621	22,625	27,396
	Imports	61,772	65,084	16,607	16,758	16,100	15,619	17,098	14,981
Non-EMU	Exports	202,626	220,383	49,872	55,265	56,661	58,585	90,455	67,196
	Imports	87,786	86,733	19,872	22,886	22,392	21,583	21,762	21,179
EU	Exports	112,520	115,543	27,550	25,152	26,774	36,067	24,952	29,656
	Imports	67,156	71,139	18,163	18,176	17,637	17,163	18,754	16,683
Non-EU	Exports	193,725	211,829	47,989	53,071	54,629	56,140	88,127	64,935
	Imports	82,401	80,678	18,316	21,468	20,855	20,039	20,106	19,477

Services	Exports	410,148	482,967	107,267	131,842	115,965	127,893	115,263	123,140
	Imports	391,559	423,277	92,391	105,318	104,538	121,030	115,638	110,700
EMU	Exports	107,982	123,244	27,667	30,102	31,455	34,020	29,553	32,913
	Imports	57,252	59,506	11,397	15,103	14,890	18,116	12,076	15,024
Non-EMU	Exports	302,166	359,724	79,600	101,740	84,510	93,874	85,710	90,226
	Imports	334,307	363,754	80,994	90,213	89,641	102,906	103,562	95,676
EU	Exports	130,154	149,243	33,607	36,157	37,796	41,683	35,996	39,734
	Imports	63,424	66,937	13,014	17,078	16,704	20,141	13,993	16,881
Non-EU	Exports	279,994	333,724	73,660	95,685	78,169	86,210	79,267	83,406
	Imports	328,134	356,323	79,377	88,238	87,827	100,881	101,644	93,819

Primary Income	Inflows	254,016	288,679	64,059	78,637	71,382	74,601	71,759	71,524
	Outflows	387,717	428,365	98,917	107,368	104,983	117,097	138,718	121,652
EMU	Inflows	72,378	76,169	16,506	21,042	18,263	20,358	20,123	18,635
	Outflows	99,449	109,582	24,806	28,117	26,623	30,036	26,235	27,726
Non-EMU	Inflows	181,638	212,512	47,554	57,595	53,120	54,243	51,636	52,890
	Outflows	288,267	318,781	74,111	79,250	78,359	87,061	112,482	93,926
EU	Inflows	78,453	84,084	18,249	23,356	20,333	22,146	21,926	20,849
	Outflows	103,743	113,285	25,958	28,984	27,547	30,796	27,406	28,643
Non-EU	Inflows	175,563	204,596	45,810	55,281	51,050	52,455	49,832	50,676
	Outflows	283,974	315,079	72,959	78,384	77,435	86,301	111,311	93,009

Secondary Income	Inflows	9,619	9,346	2,066	2,490	2,656	2,134	2,344	2,361
	Outflows	14,278	13,934	3,232	3,650	3,698	3,354	3,393	3,610
EMU	Inflows	5,311	4,759	958	1,353	1,570	878	1,243	1,294
	Outflows	5,947	5,393	1,116	1,512	1,729	1,036	1,345	1,452
Non-EMU	Inflows	4,308	4,586	1,108	1,136	1,086	1,256	1,101	1,067
	Outflows	8,332	8,541	2,116	2,139	1,969	2,317	2,047	2,158
EU	Inflows	5,966	5,260	1,068	1,432	1,777	983	1,330	1,380
	Outflows	9,679	8,883	2,009	2,362	2,590	1,922	2,288	2,387
Non-EU	Inflows	3,653	4,086	998	1,057	880	1,151	1,014	981
	Outflows	4,598	5,049	1,223	1,288	1,107	1,431	1,105	1,223

Balance on Current Account		36,916	90,971	17,912	35,211	19,696	18,152	5,837	19,494

Balance on Capital Account		-8,725	-2,581	-1,634	-426	-379	-142	-11	-4,842
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.
²Adjusted for balance of payments purposes.

Open in Excel: International Accounts Q2 2025 Table 1.6 (XLS 17KB)

Visit Table BPQ27 on PxStat

Table 1.7 Financial Account showing geographical detail

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

Direct Investment	Abroad	-96,377	27,824	22,011	24,512	-5,189	-13,510	13,397	4,817
	In Ireland	-110,044	-34,306	1,662	-23,007	11,658	-24,619	17,184	-33,985

EMU	Abroad	19,491	5,845	1,010	17,421	-11,068	-1,518	3,364	7,139
	In Ireland	-73,882	-9,711	5,297	7,353	-13,038	-9,323	18,915	-9,114
Non-EMU	Abroad	-115,866	21,978	20,999	7,091	5,880	-11,992	10,033	-2,322
	In Ireland	-36,162	-24,593	-3,634	-30,360	24,696	-15,295	-1,730	-24,871
EU	Abroad	22,875	6,682	662	18,001	-11,047	-934	8,793	8,339
	In Ireland	-71,814	-8,524	5,190	7,644	-12,639	-8,719	19,480	-10,240
Non-EU	Abroad	-119,250	21,143	21,349	6,510	5,859	-12,575	4,604	-3,522
	In Ireland	-38,230	-25,782	-3,526	-30,652	24,297	-15,901	-2,296	-23,745

Portfolio Investment	Assets	293,513	455,046	57,502	94,630	155,227	147,687	109,218	109,385
	Liabilities	194,938	392,067	27,864	99,739	131,474	132,990	102,592	67,252

EMU	Assets	50,118	127,588	31,915	10,051	54,152	31,470	35,349	51,542
	Liabilities	90,918	130,086	-8,124	26,277	48,592	63,341	53,804	22,050
Non-EMU	Assets	243,394	327,459	25,587	84,579	101,076	116,217	73,869	57,843
	Liabilities	104,020	261,982	35,989	73,463	82,882	69,648	48,788	45,202
EU	Assets	61,830	145,684	39,282	17,417	55,863	33,122	47,952	53,734
	Liabilities	87,386	135,919	-5,138	24,949	50,376	65,732	55,465	21,772
Non-EU	Assets	231,683	309,362	18,221	77,213	99,364	114,564	61,266	55,651
	Liabilities	107,552	256,149	33,003	74,790	81,099	67,257	47,127	45,480

Other Investment³	Assets	-96,645	37,037	1,251	27,239	10,476	-1,929	120,550	-34,511
	Liabilities	-14,430	68,718	40,489	28,748	446	-965	108,601	25,840

EMU	Assets	6,503	-588	-7,741	1,319	13,973	-8,139	32,951	6,886
	Liabilities	-37,656	6,553	21,811	-623	-5,921	-8,714	32,985	40,709
Non-EMU	Assets	-103,151	37,625	8,992	25,920	-3,497	6,210	87,599	-41,397
	Liabilities	23,227	62,164	18,678	29,371	6,366	7,749	75,615	-14,868
EU	Assets	7,055	10,419	-946	1,332	16,075	-6,042	42,139	-473
	Liabilities	-38,343	12,193	25,056	2,125	-6,886	-8,102	34,440	39,766
Non-EU	Assets	-103,700	26,619	2,197	25,907	-5,599	4,114	78,411	-34,037
	Liabilities	23,914	56,527	15,434	26,623	7,333	7,137	74,160	-13,926

Reserve Assets		-435	-138	-85	7	-305	245	238	-291

Balance on Financial Account		29,590	93,286	10,661	40,907	16,631	25,087	15,027	20,293

Net errors and omissions		1,399	4,896	-5,617	6,122	-2,686	7,077	9,201	5,641
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.

Open in Excel: International Accounts Q2 2025 Table 1.7 (XLS 17KB)

Visit Table BPQ30 on PxStat

Next chapter: Goods and Services

Why you can Trust the CSO

Learn about our data and confidentiality safeguards, and the steps we take to produce statistics that can be trusted by all.

go to trust & transparency

Take our short Customer Satisfaction Survey. and tell us how we can improve.

International Accounts Q2 2025

Balance of International Payments

Balance of International Payments

Current account balance of €19.5bn in Quarter 2 2025

Balance of Payments Current Account

Current account (see Table 1.3)

Financial account (see Tables 1.4 and 1.5)

Contents

Related

Why you can Trust the CSO

Contact:

Links:

Careers

Follow: