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International Accounts Q2 2026

Balance of International Payments

Current account balance of €19.7bn in Quarter 2 2026

Online ISSN: 2565-6384

CSO statistical release, 04 September 2026, 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 2025	48,595	-34,621	13,975	9.4
Q2 2026	58,064	-38,374	19,690	13.0

Q1-Q2 2025	110,825	-92,868	17,958	5.8
Q1-Q2 2026	88,897	-51,315	37,583	6.2

Open in Excel: International Accounts Q2 2026 Table 1.1 (XLS 13KB)

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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 €19.7bn in the second quarter of 2026, an increase of €5.7bn compared with the Q2 2025 surplus of €14bn due to decreases in the merchandise balance being offset by increased services imports.

	Current Account
Q1 2024	14.3472938704604
Q2 2024	28.0971509241032
Q3 2024	14.4605828267304
Q4 2024	12.0091575175933
Q1 2025	2.50170227253182
Q2 2025	9.40302929526798
Q3 2025	10.4028970312779
Q4 2025	10.1808275471487
Q1 2026	12.9318608234535
Q2 2026	13.0497043577293

	Merchandise	Services	Primary Income	Secondary Income	Balance on Current Account
Q1 2024	39.47987	13.34107	-32.46208	-1.22444	19.13443
Q2 2024	39.25414	25.93925	-26.11762	-1.20635	37.86942
Q3 2024	43.8351	11.33953	-33.23476	-1.07957	20.86031
Q4 2024	54.50227	6.22743	-41.44571	-1.32578	17.95822
Q1 2025	62.23037	0.51783	-57.40572	-1.35944	3.98304
Q2 2025	48.59512	12.55164	-45.86413	-1.30811	13.97452
Q3 2025	44.67124	7.59844	-35.47719	-1.33819	15.4543
Q4 2025	42.29564	7.55318	-33.73065	-1.24877	14.86939
Q1 2026	30.83308	9.39725	-20.76578	-1.57192	17.89264
Q2 2026	58.06437	3.77556	-40.7394	-1.41057	19.68996

Current account (see Table 1.3)

Merchandise exports were €105,590m in the second quarter of 2026, an increase of €16,602m compared with the second quarter of 2025. Merchandise imports were €47,526m in second quarter of 2026, an increase of €7,132m over the same period in 2025.
Service exports at €136,858m increased by €9,670m compared to the second quarter of 2025, mainly due to increased computer services exports which increased by €10,725m.
Service imports at €133,083m were up €18,446m over the same period in 2025, mainly due to higher royalty imports which increased by €8,549m business services exports which grew by €7,516m.
Ireland’s trade balance at €61,840m, all goods and services exports less all goods and services imports increased by €693m in the second quarter of 2026 over the same period in 2025.
Investment income earned abroad at €80,143m, increased by €2,219m compared with one year earlier while investment income payable to foreign investors at €121,003m decreased by €2,940m. The overall income balance for the quarter at -€42,150m increased by €5,022m compared with the same period in 2025.

	Direct Investment	Portfolio Investment	Other Investment	Reserve Assets	Balance on Financial Account
Q1 2024	16.55771	29.52017	-38.28155	-0.08517	7.71117000000001
Q2 2024	51.67763	-9.52659000000001	1.31955	0.00732	43.48239
Q3 2024	-20.77219	28.51965	9.71605	-0.30527	17.16149
Q4 2024	12.51617	21.08283	-10.93621	0.24484	22.90763
Q1 2025	-11.00579	-27.23952	30.43252	0.23786	-7.57492999999999
Q2 2025	33.02976	42.05451	-55.82374	-0.30872	18.95182
Q3 2025	-42.52489	63.65372	-15.31262	0.10691	5.92311000000002
Q4 2025	30.29271	-4.90390000000001	2.53537999999999	-0.05472	27.86945
Q1 2026	-4.20154	-7.20274000000002	12.30226	0.01821	0.916190000000002
Q2 2026	36.62536	18.51493	-39.90355	0.02591	15.26265

Financial account (see Tables 1.4 and 1.5)

Direct investment in Ireland decreased by €17,466m in the second quarter of 2026. This was due to decreases in other capital investment of -€6,112m, equity investment of -€9,835m and reinvested earnings of -€1,519m.
Direct investment abroad increased by €19,159m in the quarter, due to increases in other capital investment of €11,750m, reinvested earnings of €5,408m and equity investment of €2,001m.
Portfolio investment in foreign assets increased by €170,465m in the quarter due to increased investment in foreign equity and debt instruments (up €88,234m and €82,232m respectively). Portfolio investment in Ireland increased by €151,950m mainly due to an increase in equity investment of €144,011m as well as increased debt instruments of €7,939m.
Other investment assets grew by €15,285m while other investment liabilities also increased by €55,188m in the second quarter of 2026.

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	16,697	-126,348	-4,703	-114,354	42,332	-8,741	14,637	88,441	-65,495	-435	37,148	3,557
2024	Year	177,071	56,847	-133,260	-4,836	-81,249	95,822	-1,938	59,979	69,596	-38,182	-138	91,263	-2,622
2025	Year	197,792	28,221	-172,478	-5,255	-149,511	48,281	-5,562	9,792	73,565	-38,168	-19	45,169	2,450

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	1,209	-42,758	-1,193	-42,742	11,349	-515	15,211	-24,335	18,292	11	9,179	-1,656
	Quarter 2	36,888	8,333	-31,720	-1,155	-24,542	12,346	-5,678	8,892	87,024	-89,736	-25	6,156	-511
	Quarter 3	36,183	13,326	-29,573	-1,106	-17,353	18,831	-1,669	-21,249	44,860	-9,529	-529	13,552	-3,609
	Quarter 4	29,524	-6,171	-22,297	-1,250	-29,717	-194	-878	11,784	-19,108	15,478	107	8,261	9,333
2024	Quarter 1	39,480	13,341	-32,462	-1,224	-20,345	19,134	-1,536	16,558	29,520	-38,282	-85	7,711	-9,887
	Quarter 2	39,254	25,939	-26,118	-1,206	-1,385	37,869	-311	51,678	-9,527	1,320	7	43,482	5,924
	Quarter 3	43,835	11,340	-33,235	-1,080	-22,975	20,860	-256	-20,772	28,520	9,716	-305	17,161	-3,443
	Quarter 4	54,502	6,227	-41,446	-1,326	-36,544	17,958	166	12,516	21,083	-10,936	245	22,908	4,784
2025	Quarter 1	62,230	518	-57,406	-1,359	-58,247	3,983	299	-11,006	-27,240	30,433	238	-7,575	-11,857
	Quarter 2	48,595	12,552	-45,864	-1,308	-34,621	13,975	-4,128	33,030	42,055	-55,824	-309	18,952	9,105
	Quarter 3	44,671	7,598	-35,477	-1,338	-29,217	15,454	-1,538	-42,525	63,654	-15,313	107	5,923	-7,993
	Quarter 4	42,296	7,553	-33,731	-1,249	-27,426	14,869	-195	30,293	-4,904	2,535	-55	27,869	13,195
2026	Quarter 1	30,833	9,397	-20,766	-1,572	-12,940	17,893	-1,599	-4,202	-7,203	12,302	18	916	-15,377
	Quarter 2	58,064	3,776	-40,739	-1,411	-38,374	19,690	-577	36,625	18,515	-39,904	26	15,263	-3,851
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 2026 Table 1.2 (XLS 22KB)

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Table 1.3 Current and Capital Accounts

Table 1.3 Current and Capital Accounts													€ million
						2024	2025	2025				2026
Item						Year	Year	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2
Current Account
Merchandise¹					Exports	330,393	367,441	102,452	88,988	87,487	88,514	77,281	105,590
					Imports	153,322	169,649	40,221	40,393	42,816	46,218	46,448	47,526

	International trade				Exports	223,734	258,652	87,445	61,476	60,578	49,152	49,871	53,799
					Imports	128,973	137,449	34,603	32,814	32,841	37,191	35,240	40,340
	Goods for processing				Exports	91,280	96,988	19,470	26,384	23,876	27,258	21,974	25,632
					Imports	16,055	23,512	3,461	5,338	7,699	7,014	9,341	4,697
	Other conceptual adjustments				Exports	-19,634	-48,082	-16,820	-11,167	-9,851	-10,244	-6,741	9,643
					Imports	8,294	8,688	2,157	2,241	2,276	2,014	1,866	2,489
	Merchanting (net export)				Exports	35,013	59,884	12,356	12,295	12,884	22,348	12,177	16,517

Services					Exports	494,163	517,313	119,708	127,188	127,703	142,714	126,923	136,858
					Imports	437,316	489,092	119,190	114,636	120,104	135,161	117,526	133,083
	Repairs and Processing				Exports	1,180	1,268	257	280	263	469	215	223
					Imports	8,514	8,436	1,995	2,029	2,044	2,368	2,020	2,208
	Transport				Exports	10,767	11,706	1,666	3,271	4,392	2,377	1,618	3,273
					Imports	5,969	6,263	1,515	1,427	1,618	1,702	1,651	1,961
	Tourism and Travel ²				Exports	7,454	6,968	1,173	1,839	2,189	1,767	1,368	2,094
					Imports	10,506	10,968	1,940	3,034	3,460	2,535	2,255	3,057
	Insurance				Exports	18,070	19,062	4,850	4,641	4,747	4,825	5,035	5,044
					Imports	15,337	15,503	3,941	3,762	3,829	3,971	3,748	3,947
	Financial services				Exports	23,929	27,100	5,945	6,774	7,276	7,105	6,503	6,902
					Imports	25,246	28,069	6,399	7,055	7,339	7,276	6,866	7,130
	Royalties/Licences				Exports	16,032	15,631	2,909	3,615	3,745	5,362	3,115	3,383
					Imports	164,575	185,039	42,192	44,867	45,857	52,123	47,417	53,416
		of which:
			Pharmaceutical products and preparations		Exports	2,083	1,943	..	..	..	..	..	..
					Imports	23,174	24,325	5,704	5,970	5,685	6,966	6,278	7,380
			Information and communication		Exports	5,469	5,555	794	1,214	1,058	2,489	969	1,138
					Imports	125,929	143,194	..	..	..	..	..	..

	Communications				Exports	221	210	43	45	44	78	44	49
					Imports	893	693	178	179	181	155	176	179
	Computer services³				Exports	281,456	312,624	74,713	76,654	76,250	85,008	81,716	87,378
					Imports	16,869	18,656	4,065	5,214	4,633	4,744	4,948	5,658
	Business services				Exports	89,396	73,085	17,055	17,739	17,462	20,830	17,497	18,040
					Imports	157,934	182,375	50,376	39,638	43,009	49,351	40,313	47,155
		Research and development			Exports	25,450	7,610	1,574	1,946	1,915	2,176	1,069	1,161
					Imports	47,033	64,183	23,809	12,455	13,655	14,264	9,848	12,661
			of which:
				IP related	Exports	21,081	3,036	726	836	647	826	68	-46
					Imports	3,253	15,965	11,782	1,057	2,124	1,001	236	227

		Operational leasing			Exports	20,642	22,795	5,419	5,472	5,659	6,245	5,468	5,418
					Imports	3,158	3,346	807	817	866	856	793	869
		Misc. business services⁴			Exports	43,305	42,679	10,061	10,320	9,888	12,410	10,960	11,461
					Imports	107,744	114,846	25,761	26,366	28,487	34,232	29,671	33,625
	Other services n.e.s.				Exports	45,656	49,658	11,098	12,331	11,337	14,893	9,811	10,472
					Imports	31,473	33,089	6,588	7,431	8,134	10,936	8,131	8,372

Merchandise and Services - Total					Exports	824,556	884,754	222,160	216,176	215,190	231,228	204,204	242,448
					Imports	590,638	658,740	159,412	155,030	162,920	181,379	163,973	180,608

Trade Balance					Net	233,919	226,013	62,748	61,147	52,270	49,849	40,230	61,840

Primary Income					Inflows	299,502	310,412	73155.36	78533.53	75380.17	83342.75	80244.92	80,865
					Outflows	432,762	482,890	130,561	124,398	110,857	117,073	101,011	121,604
	Compensation of Employees				Inflows	589	643	164	162	159	158	172	172
					Outflows	1,162	1,271	306	304	318	343	307	397
	Investment Income				Inflows	297,329	308,603	72,699	78,014	74,919	82,971	79,809	80,143
					Outflows	430,938	480,976	130,089	123,943	110,379	116,565	100,557	121,003
		Direct investment income			Inflows	72,700	84,809	17,504	19,095	20,756	27,455	19,963	18,647
					Outflows	206,493	261,562	74,377	65,478	57,220	64,486	47,354	66,112
			of which:
				Manufacturing	Outflows	123,789	169,125	51,556	39,722	35,167	42,680	25,110	44,350
				Information and communication	Outflows	53,532	64,221	16,517	18,700	14,564	14,440	15,128	13,078

			Income on equity		Inflows	68,487	80,216	16,366	17,943	19,632	26,275	19,124	17,743
					Outflows	194,420	251,910	71,934	63,206	54,703	62,067	45,326	63,706
				Dividends & distributed branch profits	Inflows	39,170	42,834	1,467	21,555	17,264	2,548	20,175	12,334
					Outflows	163,797	189,041	28,092	101,965	33,566	25,419	49,491	65,225
				Reinvested earnings	Inflows	29,317	37,382	14,898	-3,612	2,368	23,727	-1,051	5,408
					Outflows	30,623	62,869	43,842	-38,759	21,137	36,648	-4,165	-1,519
			Income on debt		Inflows	4,212	4,593	1,138	1,152	1,123	1,180	839	905
					Outflows	12,073	9,652	2,443	2,272	2,517	2,419	2,028	2,406
		Portfolio investment income			Inflows	148,968	152,398	38,230	41,855	36,197	36,116	38,367	39,681
					Outflows	173,971	170,793	43,224	46,973	40,379	40,217	42,113	42,942
			Income on equity		Inflows	43,978	45,486	11,073	15,322	10,317	8,773	11,470	12,083
					Outflows	137,805	139,224	35,384	39,062	32,467	32,311	34,566	35,432
			Income on debt		Inflows	104,990	106,912	27,158	26,532	25,880	27,343	26,897	27,598
					Outflows	36,166	31,569	7,841	7,911	7,912	7,905	7,547	7,511
		Other investment income			Inflows	75,661	71,396	16,965	17,065	17,966	19,400	21,479	21,815
					Outflows	50,475	48,622	12,488	11,491	12,781	11,862	11,090	11,948
	Other primary income				Inflows	1,585	1,166	293	357	302	214	264	549
					Outflows	662	643	165	151	160	166	147	204

Secondary Income					Inflows	9,702	9,733	2,395	2,422	2,637	2,279	2,578	2,362
					Outflows	14,538	14,988	3,755	3,730	3,975	3,528	4,149	3,773

Income Balance					Net	-138,096	-177,732	-58,765	-47,172	-36,815	-34,979	-22,338	-42,150

Current Account - Total					Inflows	1,133,761	1,204,899	297,710	297,132	293,207	316,850	287,026	325,675
					Outflows	1,037,938	1,156,618	293,727	283,158	277,753	301,980	269,133	305,985

Current Account Balance					Net	95,822	48,281	3,983	13,975	15,454	14,869	17,893	19,690

Capital Account Balance					Net	-1,938	-5,562	299	-4,128	-1,538	-195	-1,599	-577

Memorandum Item:
	Government Income				Inflows	362	442	155	12	206	69	-5	144
					Outflows	2,662	1,741	617	269	536	320	576	278
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
		2024	2025	2025				2026
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2

Direct Investment	Abroad	20,536	57,594	21,982	14,906	-14,245	34,951	20,965	19,159
	In Ireland	-39,443	47,802	32,988	-18,124	28,280	4,658	25,167	-17,466

Equity	Abroad	-45,823	9,725	2,848	4,588	-10,012	12,301	10,968	2,001
	In Ireland	32,518	26,603	35,701	-2,536	14,708	-21,269	1,782	-9,835
Reinvested Earnings	Abroad	29,317	37,382	14,898	-3,612	2,368	23,727	-1,051	5,408
	In Ireland	30,623	62,869	43,842	-38,759	21,137	36,648	-4,165	-1,519
Other Capital	Abroad	37,042	10,487	4,236	13,929	-6,601	-1,077	11,048	11,750
	In Ireland	-102,584	-41,670	-46,555	23,171	-7,565	-10,721	27,550	-6,112

Portfolio Investment	Assets	467,353	501,827	92,263	112,849	187,059	109,657	145,205	170,465
	Liabilities	397,757	428,262	119,502	70,794	123,405	114,561	152,408	151,950

Equity	Assets	207,332	254,501	54,306	43,958	83,176	73,061	80,129	88,234
	Liabilities	378,126	352,091	102,685	56,779	103,807	88,821	143,573	144,011
Debt Instruments	Assets	260,021	247,326	37,957	68,891	103,883	36,596	65,076	82,232
	Liabilities	19,631	76,171	16,817	14,015	19,598	25,740	8,835	7,939
Bonds and notes	Assets	286,355	227,205	48,977	60,771	84,430	33,027	53,525	47,520
	Liabilities	18,344	75,646	16,001	18,081	14,968	26,596	6,791	2,751
Money market instruments	Assets	-26,334	20,121	-11,020	8,120	19,453	3,568	11,551	34,711
	Liabilities	1,287	525	816	-4,066	4,630	-855	2,044	5,188

Other Investment	Assets	61,165	181,744	137,400	-9,322	-39,582	93,249	96,054	15,285
	Liabilities	99,347	219,913	106,967	46,501	-24,269	90,713	83,752	55,188

Loans, currency and deposits	Assets	64,891	173,757	70,616	58,914	35,373	8,854	58,855	55,629
	Liabilities	57,705	123,471	29,714	73,463	-4,958	25,252	24,408	92,515
Other²	Assets	-3,726	7,987	66,783	-68,236	-74,955	84,395	37,200	-40,345
	Liabilities	41,642	96,442	77,253	-26,961	-19,311	65,461	59,345	-37,327

Reserve Assets		-138	-19	238	-309	107	-55	18	26

Monetary gold		0	0	0	0	0	0	0	0
Special drawing rights		40	97	9	-3	81	9	9	9
Reserve position in the IMF		-122	79	43	33	3	-1	-12	10
Foreign exchange		-154	-167	132	-190	106	-214	-87	106
Other		97	-27	53	-149	-83	151	109	-99

Balance on Financial Account		91,263	45,169	-7,575	18,952	5,923	27,869	916	15,263

Net errors and omissions		-2,622	2,450	-11,857	9,105	-7,993	13,195	-15,377	-3,851
Memorandum Item:
Government financial	Assets	19,529	18,140	1,722	203	709	15,507	-1,508	-1,090
transactions	Liabilities	-791	-6,603	-5,580	-355	1,155	-1,824	-1,824	-1,824
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.

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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 Sector¹									€ million
		2024	2025	2025				2026
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2
Current Account - Total	Inflows	1,133,761	1,204,899	297,710	297,132	293,207	316,850	287,026	325,675
	Outflows	1,037,938	1,156,618	293,727	283,158	277,753	301,980	269,133	305,985

Merchandise²	Exports	330,393	367,441	102,452	88,988	87,487	88,514	77,281	105,590
	Imports	153,322	169,649	40,221	40,393	42,816	46,218	46,448	47,526

Services	Exports	494,163	517,313	119,708	127,188	127,703	142,714	126,923	136,858
	Imports	437,316	489,092	119,190	114,636	120,104	135,161	117,526	133,083

General Government	Exports	413	412	103	103	103	103	101	100
	Imports	105	102	30	25	30	17	16	17
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	7,915	8,127	1,973	1,986	2,123	2,045	1,976	2,263
	Imports	5,474	5,161	1,296	1,283	1,239	1,343	1,290	1,635
Other Sectors⁵	Exports	485,835	508,774	117,632	125,099	125,476	140,567	124,847	134,495
	Imports	431,737	483,828	117,864	113,328	118,835	133,801	116,219	131,431
of which:
Other Financial Intermediaries	Exports	46,347	52,704	12,296	12,984	13,366	14,058	14,534	14,131
	Imports	47,113	51,542	12,225	12,992	12,983	13,343	13,055	13,469
Non-Financial Companies⁶	Exports	439,488	456,070	105,335	112,116	112,111	126,509	110,312	120,364
	Imports	384,624	432,286	105,640	100,336	105,852	120,458	103,164	117,962

Primary Income	Inflows	299,502	310,412	73,155	78,534	75,380	83,343	80,245	80,865
	Outflows	432,762	482,890	130,561	124,398	110,857	117,073	101,011	121,604

General Government	Inflows	401	442	155	12	206	69	-5	144
	Outflows	2,665	2,377	767	430	697	482	725	446
Monetary Authority ³	Inflows	197	197	49	49	49	49	49	49
	Outflows	0	0	0	0	0	0	0	0
Monetary Financial Institutions⁴	Inflows	48,574	43,456	11,187	10,653	11,258	10,357	10,035	10,079
	Outflows	45,295	40,174	10,347	9,587	10,665	9,575	8,906	8,787
Other Sectors⁵	Inflows	250,330	266,317	61,764	67,819	63,866	72,867	70,166	70,593
	Outflows	384,802	440,339	119,447	114,381	99,495	107,016	91,379	112,372
of which:
Other Financial Intermediaries	Inflows	180,171	187,035	44,925	50,054	44,342	47,713	51,888	52,732
	Outflows	175,817	172,456	42,532	47,560	41,496	40,869	42,560	45,295
Non-Financial Companies⁶	Inflows	70,158	79,282	16,839	17,765	19,524	25,155	18,277	17,860
	Outflows	208,985	267,883	76,915	66,821	57,999	66,148	48,820	67,076

Secondary Income	Inflows	9,702	9,733	2,395	2,422	2,637	2,279	2,578	2,362
	Outflows	14,538	14,988	3,755	3,730	3,975	3,528	4,149	3,773

General Government	Inflows	166	74	8	11	48	8	38	16
	Outflows	3,685	3,827	979	931	1,012	905	1,222	1,097
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	9,536	9,659	2,387	2,412	2,589	2,271	2,540	2,346
	Outflows	10,854	11,161	2,776	2,800	2,963	2,623	2,927	2,676
of which:
Other Financial Intermediaries	Inflows	8,246	8,342	2,064	2,088	2,266	1,925	2,211	1,960
	Outflows	8,246	8,342	2,064	2,088	2,266	1,925	2,211	1,960
Non-Financial Companies⁶	Inflows	1,291	1,317	323	323	324	346	329	387
	Outflows	2,608	2,819	712	711	697	699	716	716

Balance on Current Account		95,822	48,281	3,983	13,975	15,454	14,869	17,893	19,690

Balance on Capital Account		-1,938	-5,562	299	-4,128	-1,538	-195	-1,599	-577

Financial Account⁷
Direct investment	Abroad	20,536	57,594	21,982	14,906	-14,245	34,951	20,965	19,159
	In Ireland	-39,443	47,802	32,988	-18,124	28,280	4,658	25,167	-17,466

General Government	Abroad	0	0	0	0	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	-564	332	-180	550	86	-125	107	251
	In Ireland	2,625	1,100	411	52	198	439	644	-1,110
Other Sectors⁵	Abroad	21,101	57,262	22,162	14,356	-14,331	35,075	20,858	18,908
	In Ireland	-42,068	46,702	32,577	-18,176	28,082	4,219	24,522	-16,356
of which:
Other Financial Intermediaries	Abroad	5,253	27,871	7,327	2,222	8,141	10,180	1,807	779
	In Ireland	14,698	-7,086	621	-7,460	-3,973	3,726	3,151	-5,070
Non-Financial Companies⁶	Abroad	15,848	29,391	14,836	12,133	-22,472	24,895	19,051	18,129
	In Ireland	-56,766	53,788	31,956	-10,716	32,055	493	21,371	-11,286

Portfolio investment	Assets	467,353	501,827	92,263	112,849	187,059	109,657	145,205	170,465
	Liabilities	397,757	428,262	119,502	70,794	123,405	114,561	152,408	151,950

General Government	Assets	10,549	4,222	260	269	105	3,588	10,197	5,485
	Liabilities	-232	-1,941	-3,182	-353	1,254	339	3,427	-3,945
Monetary Authority ³	Assets	0	0	0	0	0	0	0	0
	Liabilities	0	0	0	0	0	0	0	0
Monetary Financial Institutions⁴	Assets	97,455	47,653	-9,944	21,878	31,301	4,418	546	34,621
	Liabilities	93,544	53,573	21,847	13,250	31,082	-12,606	27,663	34,252
Other Sectors⁵	Assets	359,349	449,952	101,947	90,702	155,653	101,651	134,463	130,359
	Liabilities	304,445	376,630	100,836	57,897	91,069	126,828	121,318	121,644
of which:
Other Financial Intermediaries	Assets	358,576	450,024	101,869	*	155,191	*	*	*
	Liabilities	300,547	390,554	92,248	59,304	112,134	126,868	118,867	122,613
Non-Financial Companies⁶	Assets	774	-72	77	*	462	*	*	*
	Liabilities	3,897	-13,924	8,588	-1,407	-21,066	-40	2,451	-969

Other investment	Assets	61,165	181,744	137,400	-9,322	-39,582	93,249	96,054	15,285
	Liabilities	99,347	219,913	106,967	46,501	-24,269	90,713	83,752	55,188

General Government	Assets	8,979	13,918	1,462	-66	604	11,919	-11,704	-6,575
	Liabilities	-560	-4,662	-2,398	-2	-99	-2,163	-1,272	-3
Monetary Authority ³	Assets	-2,704	-10,105	-5,208	-489	166	-4,574	-790	4,681
	Liabilities	1,475	480	363	-777	423	470	295	477
Monetary Financial Institutions⁴	Assets	45,914	48,959	73,558	27,694	-9,092	-43,201	75,733	1,600
	Liabilities	24,477	38,211	44,665	27,725	-7,740	-26,440	46,472	18,109
Other Sectors⁵	Assets	8,976	128,972	67,587	-36,461	-31,259	129,106	32,817	15,578
	Liabilities	73,954	185,884	64,337	19,555	-16,854	118,846	38,258	36,605
of which:
Other Financial Intermediaries	Assets	13,238	120,728	75,028	-35,593	-42,779	124,072	40,081	2,687
	Liabilities	72,559	173,497	65,882	14,849	-22,591	115,357	41,953	22,808
Non-Financial Companies⁶	Assets	-4,262	8,244	-7,441	-869	11,520	5,034	-7,264	12,891
	Liabilities	1,396	12,387	-1,544	4,706	5,737	3,488	-3,695	13,797

Reserve Assets		-138	-19	238	-309	107	-55	18	26

Balance on Financial Account		91,263	45,169	-7,575	18,952	5,923	27,869	916	15,263
Net errors and omissions		-2,622	2,450	-11,857	9,105	-7,993	13,195	-15,377	-3,851
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
		2024	2025	2025				2026
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2

Current Account - Total	Inflows	1,133,761	1,204,899	297,710	297,132	293,207	316,850	287,026	325,675
	Outflows	1,037,938	1,156,618	293,727	283,158	277,753	301,980	269,133	305,985

Merchandise²	Exports	330,393	367,441	102,452	88,988	87,487	88,514	77,281	105,590
	Imports	153,322	169,649	40,221	40,393	42,816	46,218	46,448	47,526
EMU	Exports	113,418	105,679	24,344	29,036	26,101	26,199	24,792	26,819
	Imports	66,381	78,989	18,063	18,661	20,114	22,152	19,503	19,452
Non-EMU	Exports	216,975	261,762	78,108	59,952	61,386	62,316	52,489	78,771
	Imports	86,941	90,660	22,158	21,733	22,702	24,067	26,945	28,074
EU	Exports	122,327	115,801	26,492	31,192	28,819	29,297	27,802	30,214
	Imports	72,357	85,815	19,752	20,320	21,700	24,044	21,276	21,887
Non-EU	Exports	208,066	251,640	75,960	57,796	58,668	59,217	49,479	75,376
	Imports	80,965	83,834	20,470	20,074	21,116	22,175	25,172	25,639

Services	Exports	494,163	517,313	119,708	127,188	127,703	142,714	126,923	136,858
	Imports	437,316	489,092	119,190	114,636	120,104	135,161	117,526	133,083
EMU	Exports	127,331	140,653	30,948	34,093	35,827	39,786	34,983	37,055
	Imports	61,122	62,122	12,458	15,548	15,166	18,950	12,738	16,922
Non-EMU	Exports	366,832	376,659	88,760	93,095	91,876	102,928	91,940	99,803
	Imports	376,194	426,970	106,732	99,089	104,939	116,211	104,787	116,160
EU	Exports	153,355	168,134	37,402	40,956	42,500	47,276	41,833	44,273
	Imports	68,552	71,175	14,642	17,715	17,412	21,407	15,033	19,540
Non-EU	Exports	340,808	349,178	82,306	86,232	85,202	95,438	85,090	92,585
	Imports	368,764	417,916	104,549	96,921	102,693	113,754	102,493	113,543

Primary Income	Inflows	299,502	310,412	73,155	78,534	75,380	83,343	80,245	80,865
	Outflows	432,762	482,890	130,561	124,398	110,857	117,073	101,011	121,604
EMU	Inflows	70,836	76,419	17,436	20,339	20,864	17,780	16,192	18,081
	Outflows	102,366	96,391	23,421	28,930	24,038	20,003	22,473	25,037
Non-EMU	Inflows	228,666	233,993	55,719	58,195	54,516	65,563	64,053	62,784
	Outflows	330,397	386,498	107,140	95,468	86,820	97,070	78,538	96,567
EU	Inflows	78,931	83,858	19,216	22,261	22,782	19,598	17,963	20,433
	Outflows	106,234	100,329	24,613	29,872	25,039	20,805	23,965	25,950
Non-EU	Inflows	220,571	226,554	53,939	56,273	52,598	63,744	62,282	60,431
	Outflows	326,529	382,560	105,948	94,526	85,818	96,269	77,046	95,654

Secondary Income	Inflows	9,702	9,733	2,395	2,422	2,637	2,279	2,578	2,362
	Outflows	14,538	14,988	3,755	3,730	3,975	3,528	4,149	3,773
EMU	Inflows	5,297	5,457	1,301	1,409	1,514	1,233	1,448	1,249
	Outflows	5,614	5,632	1,381	1,489	1,521	1,240	1,485	1,285
Non-EMU	Inflows	4,405	4,276	1,094	1,013	1,123	1,046	1,129	1,113
	Outflows	8,924	9,356	2,374	2,241	2,454	2,287	2,664	2,487
EU	Inflows	5,889	6,006	1,419	1,527	1,695	1,365	1,615	1,382
	Outflows	8,903	9,104	2,279	2,377	2,437	2,012	2,629	2,259
Non-EU	Inflows	3,813	3,728	976	896	942	914	962	980
	Outflows	5,635	5,884	1,476	1,353	1,539	1,516	1,521	1,513

Balance on Current Account		95,822	48,281	3,983	13,975	15,454	14,869	17,893	19,690

Balance on Capital Account		-1,938	-5,562	299	-4,128	-1,538	-195	-1,599	-577
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 2026 Table 1.6 (XLS 18KB)

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Table 1.7 Financial Account showing geographical detail

Table 1.7 Financial Account¹ showing geographical² detail									€ million
		2024	2025	2025				2026
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2

Direct Investment	Abroad	20,536	57,594	21,982	14,906	-14,245	34,951	20,965	19,159
	In Ireland	-39,443	47,802	32,988	-18,124	28,280	4,658	25,167	-17,466

EMU	Abroad	-8,110	6,971	6,789	5,293	-17,437	12,327	1,471	3,318
	In Ireland	-10,768	33,573	21,310	-9,072	5,132	16,203	-9,568	7,029
Non-EMU	Abroad	28,647	50,623	15,194	9,613	3,192	22,624	19,494	15,841
	In Ireland	-28,675	14,229	11,678	-9,052	23,148	-11,545	34,735	-24,495
EU	Abroad	-5,872	4,475	12,208	1,118	-21,460	12,608	8,573	4,949
	In Ireland	-9,333	34,369	21,710	-9,879	6,121	16,417	-9,647	6,208
Non-EU	Abroad	26,409	53,119	9,774	13,788	7,215	22,343	12,392	14,210
	In Ireland	-30,110	13,433	11,278	-8,245	22,159	-11,760	34,814	-23,674

Portfolio Investment	Assets	467,353	501,827	92,263	112,849	187,059	109,657	145,205	170,465
	Liabilities	397,757	428,262	119,502	70,794	123,405	114,561	152,408	151,950

EMU	Assets	150,624	151,138	24,275	57,544	30,646	38,672	33,925	39,104
	Liabilities	128,538	152,491	48,917	25,293	43,876	34,405	61,277	49,164
Non-EMU	Assets	316,729	350,689	67,987	55,304	156,413	70,985	111,280	131,361
	Liabilities	269,219	275,772	70,585	45,501	79,529	80,156	91,131	102,786
EU	Assets	169,745	175,315	36,460	60,257	36,935	41,662	41,346	42,028
	Liabilities	134,427	155,601	50,646	24,982	41,704	38,270	64,257	51,640
Non-EU	Assets	297,609	326,513	55,802	52,592	150,124	67,994	103,859	128,437
	Liabilities	263,330	272,661	68,857	45,812	81,701	76,291	88,151	100,310

Other Investment³	Assets	61,165	181,744	137,400	-9,322	-39,582	93,249	96,054	15,285
	Liabilities	99,347	219,913	106,967	46,501	-24,269	90,713	83,752	55,188

EMU	Assets	-7,182	22,381	32,709	22,296	1,958	-34,581	21,839	18,147
	Liabilities	10,925	24,482	33,285	41,733	-21,022	-29,514	34,828	10,501
Non-EMU	Assets	68,347	159,363	104,691	-31,618	-41,539	127,830	74,216	-2,863
	Liabilities	88,422	195,431	73,682	4,768	-3,247	120,228	48,924	44,688
EU	Assets	2,291	24,060	41,946	17,846	1,208	-36,940	23,362	20,787
	Liabilities	16,976	23,609	34,189	40,971	-21,619	-29,931	35,182	12,302
Non-EU	Assets	58,873	157,684	95,453	-27,168	-40,790	130,188	72,692	-5,502
	Liabilities	82,371	196,304	72,778	5,531	-2,650	120,644	48,570	42,887

Reserve Assets		-138	-19	238	-309	107	-55	18	26

Balance on Financial Account		91,263	45,169	-7,575	18,952	5,923	27,869	916	15,263

Net errors and omissions		-2,622	2,450	-11,857	9,105	-7,993	13,195	-15,377	-3,851
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.