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International Accounts Q3 2025

Balance of International Payments

Current account balance of €13.9bn in Quarter 3 2025

Online ISSN: 2565-6384

CSO statistical release, 04 December 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
Q3 2024	42,911	-23,214	19,696	13.7
Q3 2025	55,398	-41,457	13,941	8.8

Q1-Q3 2024	120,549	-47,731	72,819	17.7
Q1-Q3 2025	188,048	-148,776	39,272	8.1

Open in Excel: International Accounts Q3 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 €13.9bn in the third quarter of 2025, a decrease of €5.8bn compared with the Q3 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
Q2 2023	8.37676911628199
Q3 2023	12.4742431758114
Q4 2023	-0.929236767214375
Q1 2024	13.8916577219882
Q2 2024	26.4901162385371
Q3 2024	14.5685073193628
Q4 2024	12.6547342882451
Q1 2025	3.85950999642994
Q2 2025	11.6688987230131
Q3 2025	8.73039429768438

	Merchandise	Services	Primary Income	Secondary Income	Balance on Current Account
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
Q3 2025	55.39766	6.14429	-46.38166	-1.21934	13.94096

Current account (see Table 1.3)

Merchandise exports were €98,862m in the third quarter of 2025, an increase of €17,460m compared with the third quarter of 2024. Merchandise imports were €43,464m in third quarter of 2025, an increase of €4,972m over the same period in 2024.
Service exports at €123,692m increased by €7,727m compared to the third quarter of 2024, mainly due to increased computer services exports which increased by €7,016m.
Service imports at €117,548m were up €13,010m over the same period in 2024, mainly due to higher royalty imports which increased by €5,624m and business services exports which grew by €3,326m.
Ireland’s trade balance at €61,542m, all goods and services exports less all goods and services imports increased by €7,204m in the third quarter of 2025 over the same period in 2024.
Investment income earned abroad at €71,132m, increased by €346m compared with one year earlier while investment income payable to foreign investors at €117,560m increased by €13,011m. The overall income balance for the quarter at -€47,601m decreased by €12,959m compared with the same period in 2024.

	Direct Investment	Portfolio Investment	Other Investment	Reserve Assets	Balance on Financial Account
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	20.292
Q3 2025	-19.13748	30.78753	-5.26889	0.10691	6.48806

Financial account (see Tables 1.4 and 1.5)

Direct investment in Ireland increased by €18,744m in the third quarter of 2025. This was due to increased reinvested earnings of €31,030m and equity investment of €7,871m offset by equity investment of -€3,997m.
Direct investment abroad increased by €4,796m in the quarter, due to increased reinvested earnings of €5,376m offset by equity investment of -€315m and other capital investment of €1,924m.
Portfolio investment in foreign assets increased by €166,948m in the quarter due to increased investment in foreign equity and debt instruments (up €75,730m and €87,565m respectively). Portfolio investment in Ireland increased by €136,160m mainly due to an increase in equity investment of €124,552m as well as increased debt instruments of €11,609m.
Other investment assets fell by €58,659m while other investment liabilities also fell by €53,390m in the third 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	20,292	5,640
	Quarter 3	55,398	6,144	-46,382	-1,219	-41,457	13,941	-1,917	-19,137	30,788	-5,269	107	6,488	-5,536
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 Q3 2025 Table 1.2 (XLS 21KB)

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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	Quarter 3
Current Account
Merchandise¹	Exports	306,245	327,370	75,539	78,223	81,402	92,206	113,079	94,591	98,862
	Imports	149,558	151,817	36,479	39,644	38,492	37,202	38,860	36,160	43,464

International trade	Exports	196,030	224,738	54,027	54,180	57,993	58,538	88,375	63,139	61,828
	Imports	134,698	128,352	30,437	32,000	32,399	33,516	34,197	32,517	33,231
Goods for processing	Exports	97,631	91,112	20,103	21,704	19,490	29,815	17,440	26,168	23,641
	Imports	9,711	16,037	4,925	5,656	3,499	1,957	3,487	1,547	7,699
Other conceptual adjustments	Exports	-14,563	-20,109	-3637	-4940	-3987	-7,545	-3,833	-6,238	1,460
	Imports	5,150	7,428	1117	1988	2593	1,730	1,176	2,096	2,534
Merchanting (net export)	Exports	27,146	31,630	5,047	7,279	7,906	11,398	11,098	11,521	11,933

Services	Exports	410,148	482,967	107,267	131,842	115,965	127,893	115,263	123,140	123,692
	Imports	391,559	423,277	92,391	105,318	104,538	121,030	115,638	110,700	117,548
Repairs and Processing	Exports	2,805	1,164	226	239	261	438	211	254	233
	Imports	11,712	8,850	1,952	2,077	1,960	2,861	1,998	2,065	2,196
Transport	Exports	10,541	10,767	1,830	2,699	3,950	2,288	1,629	3,249	4,392
	Imports	5,800	5,941	1,409	1,551	1,509	1,472	1,506	1,411	1,640
Tourism and Travel ²	Exports	6,981	7,256	1,370	1,993	2,335	1,558	1,116	1,797	2,130
	Imports	12,219	13,075	2,055	3,621	4,050	3,349	2,339	3,378	4,526
Insurance	Exports	15,886	17,017	3,880	4,149	4,426	4,562	4,509	4,446	4,637
	Imports	14,248	14,704	3,630	3,309	3,758	4,007	3,731	3,597	3,729
Financial services	Exports	22,987	26,895	6,688	6,645	6,522	7,040	6,624	7,201	8,063
	Imports	20,317	23,602	5,922	5,766	5,743	6,171	5,822	6,489	7,303
Royalties/Licences	Exports	16,177	16,316	3,255	3,777	4,047	5,237	3,238	3,545	3,702
	Imports	142,506	164,173	35,614	39,791	39,837	48,931	42,045	44,784	45,461
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	5,706
Information and communication	Exports	6,342	2,056	950	..	1,106	..	838	1,214	1,058
	Imports	99,342	125,922	..	..	..	..	..	..	..
Communications	Exports	173	223	55	56	56	56	55	57	56
	Imports	792	893	216	216	218	243	216	218	220
Computer services³	Exports	234,216	278,729	64,161	67,786	68,063	78,719	72,417	75,866	75,079
	Imports	11,603	16,982	3,913	4,304	4,304	4,461	4,119	5,275	5,570
Business services	Exports	71,196	94,510	19,397	36,871	18,554	19,688	17,557	18,896	17,326
	Imports	153,514	152,649	32,591	38,308	37,855	43,895	49,157	38,121	41,181
Research and development	Exports	10,621	32,681	4,022	..	3,073	..	2,298	3,732	2,706
	Imports	56,543	44,866	9,125	11,689	11,264	12,788	22,784	11,525	12,633
of which: IP related	Exports	2,068	21,096	518	..	510	..	192	236	140
	Imports	16,481	2,724	175	934	644	971	10,996	602	1,691
Operational leasing	Exports	19,791	20,114	4,970	5,000	5,070	5,074	5,166	5,127	5,190
	Imports	1,684	1,771	436	443	438	454	460	474	486
Misc. business services⁴	Exports	40,783	41,717	10,405	..	10,412	..	10,093	10,037	9,430
	Imports	95,288	106,012	23,029	26,176	26,154	30,653	25,913	26,123	28,063
Other services n.e.s.	Exports	29,184	30,091	6,405	7,626	7,751	8,309	7,907	7,829	8,076
	Imports	18,848	22,410	5,091	6,376	5,304	5,639	4,705	5,360	5,721

Merchandise and Services - Total	Exports	716,394	810,337	182,806	210,064	197,367	220,100	228,342	217,731	222,554
	Imports	541,117	575,093	128,870	144,962	143,029	158,232	154,498	146,860	161,012

Trade Balance	Net	175,276	235,245	53,936	65,103	54,338	61,868	73,844	70,871	61,542

Primary Income	Inflows	254,016	288,679	64,059	78,637	71,382	74,601	71,759	71,524	71,611
	Outflows	387,717	428,365	98,917	107,368	104,983	117,097	138,718	121,652	117,993
Compensation of Employees	Inflows	528	612	132	151	182	147	147	147	147
	Outflows	959	1,016	226	248	281	261	258	256	273
Investment Income	Inflows	252,291	286,483	63,546	78,088	70,786	74,063	71,290	70,984	71,132
	Outflows	385,837	426,686	98,514	106,966	104,549	116,657	138,294	121,245	117,560
Direct investment income	Inflows	67,577	74,255	14,118	20,514	16,619	23,004	20,858	16,572	19,441
	Outflows	197,577	210,267	47,644	47,370	50,550	64,703	85,695	66,120	66,776

of which: Manufacturing	Outflows	119,863	123,704	28,947	24,839	32,264	37,654	61,559	43,616	45,424
Information and communication	Outflows	43,391	54,670	11,966	14,604	11,722	16,378	16,349	16,377	14,418

Income on equity	Inflows	62,503	70,238	13,143	19,488	15,604	22,003	19,839	15,579	18,406
	Outflows	182,532	199,255	44,430	44,532	47,947	62,346	83,503	64,030	64,570
Dividends & distributed	Inflows	18,496	40,784	1,491	..	..	4,812	4,067	..	..
branch profits	Outflows	189,353	155,467	44,010	43,086	42,180	26,191	27,719	102,244	33,541
Reinvested earnings	Inflows	44,005	29,453	11,652	..	..	17,190	15,772	-5,376	1,847
	Outflows	-6,818	43,789	420	1,447	5,767	36,155	55,784	-38,214	31,030
Income on debt	Inflows	5,077	4,018	976	1,026	1,015	1,001	1,019	993	1,035
	Outflows	15,044	11,012	3,214	2,837	2,603	2,358	2,192	2,090	2,206
Portfolio investment income	Inflows	121,628	141,259	32,266	38,985	35,842	34,166	35,539	39,196	34,748
	Outflows	150,290	167,442	40,002	46,364	41,433	39,643	40,684	44,021	38,055
Income on equity	Inflows	37,844	42,100	9,314	13,291	10,616	8,879	10,696	14,704	10,242
	Outflows	116,756	135,685	31,062	37,767	34,442	32,414	33,509	37,054	32,094
Income on debt	Inflows	83,784	99,157	22,951	25,693	25,226	25,287	24,843	24,492	24,506
	Outflows	33,533	31,757	8,940	8,597	6,991	7,229	7,175	6,968	5,961
Other investment income	Inflows	63,087	70,970	17,162	18,590	18,325	16,893	14,893	15,217	16,943
	Outflows	37,970	48,978	10,868	13,233	12,566	12,311	11,916	11,103	12,728
Other primary income	Inflows	1,199	1,585	382	398	414	391	322	393	333
	Outflows	923	662	176	154	153	179	165	151	160

Secondary Income	Inflows	9,619	9,346	2,066	2,490	2,656	2,134	2,344	2,361	2,596
	Outflows	14,278	13,934	3,232	3,650	3,698	3,354	3,393	3,610	3,816

Income Balance	Net	-138,358	-144,273	-36,024	-29,892	-34,642	-43,715	-68,007	-51,376	-47,601

Current Account - Total	Inflows	980,029	1,108,363	248,931	291,191	271,406	296,835	302,445	291,616	296,761
	Outflows	943,112	1,017,392	231,020	255,980	251,710	278,682	296,608	272,122	282,820

Current Account Balance	Net	36,916	90,971	17,912	35,211	19,696	18,152	5,837	19,494	13,941

Capital Account Balance	Net	-8,725	-2,581	-1,634	-426	-379	-142	-11	-4,842	-1,917

Memorandum Item:
Government Income	Inflows	109	362	89	87	117	69	122	-27	-16
	Outflows	2,578	2,662	828	545	722	567	767	429	536
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
		2023	2024	2024				2025
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2	Quarter 3

Direct Investment	Abroad	-86,986	27,824	22,011	24,512	-5,189	-13,510	13,397	4,817	-393
	In Ireland	-100,653	-34,306	1,662	-23,007	11,658	-24,619	17,184	-33,984	18,744

Equity	Abroad	-147,400	-43,992	944	-12,117	..	..	-2,315	4,074	-315
	In Ireland	-112,404	20,430	-11,545	22,902	3,702	5,371	290	-7,871	-3,997
Reinvested Earnings	Abroad	43,981	29,486	11,652	2,378	..	..	15,772	-5,376	1,847
	In Ireland	-7,499	43,967	414	1,484	5,840	36,229	55,805	-38,195	31,030
Other Capital	Abroad	16,433	42,330	9,415	34,251	6,385	-7,721	-59	6,119	-1,924
	In Ireland	19,250	-98,704	12,794	-47,393	2,115	-66,220	-38,911	12,082	-843

Portfolio Investment	Assets	293,513	455,046	57,502	94,630	155,227	147,687	109,218	109,385	166,948
	Liabilities	194,938	392,067	27,864	99,739	131,474	132,990	102,592	67,252	136,160

Equity	Assets	118,759	182,650	16,040	49,293	44,986	72,331	56,928	39,670	75,730
	Liabilities	153,633	352,501	32,975	79,601	123,596	116,329	96,277	56,568	124,552
Debt Instruments	Assets	174,754	272,396	41,462	45,337	110,241	75,356	52,290	69,716	87,565
	Liabilities	41,304	39,568	-5,110	20,139	7,878	16,661	6,315	10,684	11,609
Bonds and notes	Assets	159,198	191,997	56,011	44,699	51,127	40,160	63,038	66,174	66,498
	Liabilities	31,354	35,548	-5,991	19,368	12,246	9,925	3,445	15,013	7,160
Money market instruments	Assets	15,556	80,399	-14,549	638	59,114	35,196	-10,748	3,541	21,067
	Liabilities	9,950	4,021	880	771	-4,367	6,737	2,870	-4,328	4,449

Other Investment	Assets	-96,645	37,037	1,251	27,239	10,476	-1,929	120,550	-34,511	-58,659
	Liabilities	-14,430	68,718	40,489	28,748	446	-965	108,601	25,840	-53,390

Loans, currency and deposits	Assets	43,836	62,578	-17,108	30,743	9,445	39,498	62,812	39,278	28,638
	Liabilities	14,667	38,374	14,708	3,767	-11,459	31,358	32,864	56,246	-6,460
Other²	Assets	-140,483	-25,544	18,358	-3,506	1,031	-41,427	57,740	-73,790	-87,297
	Liabilities	-29,094	30,345	25,782	24,981	11,905	-32,323	75,738	-30,405	-46,930

Reserve Assets		-435	-138	-85	7	-305	245	238	-291	107

Monetary gold		0	0	0	0	0	0	0	0	0
Special drawing rights		-53	40	13	12	4	11	9	-3	81
Reserve position in the IMF		-4	-122	9	-54	-8	-69	43	33	3
Foreign exchange		-324	-153	-361	1	-321	528	132	-172	106
Other		-53	96	254	48	19	-225	53	-149	-83

Balance on Financial Account		29,590	93,286	10,661	40,907	16,631	25,087	15,027	20,292	6,488

Net errors and omissions		1,399	4,896	-5,617	6,122	-2,686	7,077	9,201	5,640	-5,536
Memorandum Item:
Government financial	Assets	4,182	20,252	1,943	-2,532	3,453	17,388	1,735	206	690
transactions	Liabilities	-636	-792	-1,830	459	1,199	-620	-5,580	-355	1,155
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
		2023	2024	2024				2025
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2	Quarter 3
Current Account - Total	Inflows	980,029	1,108,363	248,931	291,191	271,406	296,835	302,445	291,616	296,761
	Outflows	943,112	1,017,392	231,020	255,980	251,710	278,682	296,608	272,122	282,820

Merchandise²	Exports	306,245	327,370	75,539	78,223	81,402	92,206	113,079	94,591	98,862
	Imports	149,558	151,817	36,479	39,644	38,492	37,202	38,860	36,160	43,464

Services	Exports	410,148	482,967	107,267	131,842	115,965	127,893	115,263	123,140	123,692
	Imports	391,559	423,277	92,391	105,318	104,538	121,030	115,638	110,700	117,548

General Government	Exports	412	412	103	103	103	103	69	104	103
	Imports	105	109	27	29	25	28	28	23	30
Monetary Authority ³	Exports	0	0	0	0	0	0	0	0	0
	Imports	0	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	2,863
	Imports	3,844	4,512	1,105	1,144	1,144	1,119	1,061	1,068	1,314
Other Sectors⁵	Exports	399,987	471,614	104,617	128,950	113,066	124,981	112,374	120,298	120,726
	Imports	387,610	418,654	91,259	104,144	103,368	119,883	114,549	109,609	116,203
of which:
Other Financial Intermediaries	Exports	40,996	43,270	10,326	10,378	10,855	11,711	10,993	12,023	12,659
	Imports	41,565	44,251	10,914	10,480	10,967	11,890	11,096	11,894	12,318
Non-Financial Companies⁶	Exports	358,991	428,343	94,290	118,572	102,211	113,270	101,381	108,274	108,067
	Imports	346,046	374,402	80,345	93,664	92,401	107,992	103,453	97,715	103,886

Primary Income	Inflows	254,016	288,679	64,059	78,637	71,382	74,601	71,759	71,524	71,611
	Outflows	387,717	428,365	98,917	107,368	104,983	117,097	138,718	121,652	117,993

General Government	Inflows	109	362	89	87	117	69	122	-27	-16
	Outflows	2,578	2,662	828	545	722	567	767	429	697
Monetary Authority ³	Inflows	175	196	49	49	49	49	49	49	49
	Outflows	0	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	10,668
	Outflows	37,171	46,249	11,345	11,098	11,821	11,985	10,629	9,839	10,715
Other Sectors⁵	Inflows	215,379	242,518	52,427	67,285	59,855	62,951	61,085	61,547	60,910
	Outflows	347,968	379,452	86,744	95,724	92,439	104,545	127,322	111,383	106,581
of which:
Other Financial Intermediaries	Inflows	153,545	172,067	39,306	47,538	42,216	43,007	43,985	45,690	41,658
	Outflows	150,431	171,274	38,788	49,046	41,713	41,727	42,120	44,441	38,584
Non-Financial Companies⁶	Inflows	61,833	70,452	13,121	19,747	17,639	19,945	17,101	15,857	19,252
	Outflows	197,536	208,179	47,956	46,679	50,726	62,818	85,203	66,942	67,998

Secondary Income	Inflows	9,619	9,346	2,066	2,490	2,656	2,134	2,344	2,361	2,596
	Outflows	14,278	13,934	3,232	3,650	3,698	3,354	3,393	3,610	3,816

General Government	Inflows	368	172	27	-3	128	20	0	5	4
	Outflows	3,912	3,845	975	933	943	994	803	1,007	1,012
Monetary Authority ³	Inflows	0	0	0	0	0	0	0	0	0
	Outflows	0	0	0	0	0	0	0	0	0
Monetary Financial Institutions⁴	Inflows	0	0	0	0	0	0	0	0	0
	Outflows	0	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	2,366
	Outflows	10,366	10,088	2,257	2,717	2,754	2,360	2,590	2,603	2,803
of which:
Other Financial Intermediaries	Inflows	8,150	7,841	1,702	2,155	2,189	1,795	2,025	2,040	2,256
	Outflows	8,150	7,841	1,702	2,155	2,189	1,795	2,025	2,040	2,256
Non-Financial Companies⁶	Inflows	1,101	1,331	336	337	339	319	319	317	110
	Outflows	2,217	2,247	555	562	565	565	565	563	547

Balance on Current Account		36,916	90,971	17,912	35,211	19,696	18,152	5,837	19,494	13,941

Balance on Capital Account		-8,725	-2,581	-1,634	-426	-379	-142	-11	-4,842	-1,917

Financial Account⁷
Direct investment	Abroad	-96,377	27,824	22,011	24,512	-5,189	-13,510	13,397	4,817	-393
	In Ireland	-110,044	-34,306	1,662	-23,007	11,658	-24,619	17,184	-33,984	18,744

General Government	Abroad	0	..	..	..	..	0	0	0	0
	In Ireland	0	0	0	0	0	0	0	0	0
Monetary Authority ³	Abroad	0	0	0	0	0	0	0	0	0
	In Ireland	0	0	0	0	0	0	0	0	0
Monetary Financial Institutions⁴	Abroad	230	..	..	..	..	64	-52	551	86
	In Ireland	16,973	2,620	247	283	923	1,167	413	52	174
Other Sectors⁵	Abroad	-96,605	28,389	21,979	24,488	-4,506	-13,572	13,449	4,265	-479
	In Ireland	-127,014	-36,925	1,416	-23,291	10,736	-25,786	16,772	-34,037	18,571
of which:
Other Financial Intermediaries	Abroad	5,036	5,556	1,785	3,320	-1,243	1,694	3,210	986	288
	In Ireland	17,189	18,810	19,110	-11,781	12,227	-746	1,498	-20,063	-4,112
Non-Financial Companies⁶	Abroad	-101,641	22,833	20,194	21,168	-3,263	-15,266	10,239	3,279	-767
	In Ireland	-144,203	-55,735	-17,694	-11,510	-1,491	-25,040	15,274	-13,974	22,683

Portfolio investment	Assets	293,513	455,046	57,502	94,630	155,227	147,687	109,218	109,385	166,948
	Liabilities	194,938	392,067	27,864	99,739	131,474	132,990	102,592	67,252	136,160

General Government	Assets	-117	10,550	84	-292	3,341	7,417	260	269	105
	Liabilities	1,436	-232	-1,033	461	959	-619	-3,182	-353	1,254
Monetary Authority ³	Assets	418	0	0	0	0	0	0	0	0
	Liabilities	0	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	31,301
	Liabilities	34,015	93,480	-17,340	21,604	56,933	32,283	21,876	13,211	31,082
Other Sectors⁵	Assets	251,189	347,030	59,463	82,875	94,334	110,358	118,639	87,365	135,542
	Liabilities	159,488	298,820	46,237	77,675	73,583	101,325	83,897	54,395	103,824
of which:
Other Financial Intermediaries	Assets	251,369	346,384	..	..	..	110,026	118,529	87,705	135,129
	Liabilities	159,120	305,099	44,413	76,758	78,800	105,128	83,506	55,779	103,524
Non-Financial Companies⁶	Assets	-180	646	..	..	..	332	110	-340	413
	Liabilities	368	-6,279	1,824	917	-5,217	-3,803	391	-1,384	300

Other investment	Assets	-96,645	37,037	1,251	27,239	10,476	-1,929	120,550	-34,511	-58,659
	Liabilities	-14,430	68,718	40,489	28,748	446	-965	108,601	25,840	-53,390

General Government	Assets	4,299	9,702	1,859	-2,240	112	9,971	1,475	-63	585
	Liabilities	-2,072	-560	-797	-2	240	-1	-2,398	-2	-99
Monetary Authority ³	Assets	-4,399	-2,705	-8,117	8,792	-1,539	-1,841	-5,208	-489	166
	Liabilities	1,717	1,475	264	259	414	538	363	-777	423
Monetary Financial Institutions⁴	Assets	-25,546	45,836	6,982	18,048	9,384	11,422	73,860	27,634	-9,092
	Liabilities	-21,939	24,481	20,628	860	350	2,643	44,637	27,732	-7,740
Other Sectors⁵	Assets	-70,998	-15,796	527	2,639	2,519	-21,481	50,425	-61,594	-50,318
	Liabilities	7,865	43,321	20,393	27,631	-559	-4,144	65,999	-1,113	-45,975
of which:
Other Financial Intermediaries	Assets	-78,843	-10,478	8,715	-29	-3,070	-16,094	59,428	-60,200	-61,152
	Liabilities	6,670	39,411	24,271	20,762	-5,453	-169	68,146	-8,028	-51,895
Non-Financial Companies⁶	Assets	7,845	-5,318	-8,188	2,668	5,589	-5,387	-9,003	-1,394	10,833
	Liabilities	1,195	3,910	-3,878	6,869	4,894	-3,975	-2,147	6,915	5,920

Reserve Assets		-435	-138	-85	7	-305	245	238	-291	107

Balance on Financial Account		29,590	93,286	10,661	40,907	16,631	25,087	15,027	20,292	6,488
Net errors and omissions		1,399	4,896	-5,617	6,122	-2,686	7,077	9,201	5,640	-5,536
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
		2023	2024	2024				2025
Item		Year		Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2	Quarter 3

Current Account - Total	Inflows	980,029	1,108,363	248,931	291,191	271,406	296,835	302,445	291,616	296,761
	Outflows	943,112	1,017,392	231,020	255,980	251,710	278,682	296,608	272,122	282,820

Merchandise²	Exports	306,245	327,370	75,539	78,223	81,402	92,206	113,079	94,591	98,862
	Imports	149,558	151,817	36,479	39,644	38,492	37,202	38,860	36,160	43,464
EMU	Exports	103,618	106,987	25,668	22,957	24,741	33,621	22,625	27,396	24,273
	Imports	61,772	65,084	16,607	16,758	16,100	15,619	17,098	14,981	20,507
Non-EMU	Exports	202,626	220,383	49,872	55,265	56,661	58,585	90,455	67,196	74,589
	Imports	87,786	86,733	19,872	22,886	22,392	21,583	21,762	21,179	22,957
EU	Exports	112,520	115,543	27,550	25,152	26,774	36,067	24,952	29,656	27,072
	Imports	67,156	71,139	18,163	18,176	17,637	17,163	18,754	16,683	22,210
Non-EU	Exports	193,725	211,829	47,989	53,071	54,629	56,140	88,127	64,935	71,790
	Imports	82,401	80,678	18,316	21,468	20,855	20,039	20,106	19,477	21,254

Services	Exports	410,148	482,967	107,267	131,842	115,965	127,893	115,263	123,140	123,692
	Imports	391,559	423,277	92,391	105,318	104,538	121,030	115,638	110,700	117,548
EMU	Exports	107,982	123,244	27,667	30,102	31,455	34,020	29,553	32,913	34,687
	Imports	57,252	59,506	11,397	15,103	14,890	18,116	12,076	15,024	15,151
Non-EMU	Exports	302,166	359,724	79,600	101,740	84,510	93,874	85,710	90,226	89,005
	Imports	334,307	363,754	80,994	90,213	89,641	102,906	103,562	95,676	102,397
EU	Exports	130,154	149,243	33,607	36,157	37,796	41,683	35,996	39,734	41,282
	Imports	63,424	66,937	13,014	17,078	16,704	20,141	13,993	16,881	17,171
Non-EU	Exports	279,994	333,724	73,660	95,685	78,169	86,210	79,267	83,406	82,410
	Imports	328,134	356,323	79,377	88,238	87,827	100,881	101,644	93,819	100,376

Primary Income	Inflows	254,016	288,679	64,059	78,637	71,382	74,601	71,759	71,524	71,611
	Outflows	387,717	428,365	98,917	107,368	104,983	117,097	138,718	121,652	117,993
EMU	Inflows	72,378	76,169	16,506	21,042	18,263	20,358	20,123	18,635	18,342
	Outflows	99,449	109,582	24,806	28,117	26,623	30,036	26,235	27,726	23,080
Non-EMU	Inflows	181,638	212,512	47,554	57,595	53,120	54,243	51,636	52,890	53,269
	Outflows	288,267	318,781	74,111	79,250	78,359	87,061	112,482	93,926	94,913
EU	Inflows	78,453	84,084	18,249	23,356	20,333	22,146	21,926	20,849	20,240
	Outflows	103,743	113,285	25,958	28,984	27,547	30,796	27,406	28,643	24,046
Non-EU	Inflows	175,563	204,596	45,810	55,281	51,050	52,455	49,832	50,676	51,371
	Outflows	283,974	315,079	72,959	78,384	77,435	86,301	111,311	93,009	93,947

Secondary Income	Inflows	9,619	9,346	2,066	2,490	2,656	2,134	2,344	2,361	2,596
	Outflows	14,278	13,934	3,232	3,650	3,698	3,354	3,393	3,610	3,816
EMU	Inflows	5,311	4,759	958	1,353	1,570	878	1,243	1,294	1,477
	Outflows	5,947	5,393	1,116	1,512	1,729	1,036	1,345	1,452	1,562
Non-EMU	Inflows	4,308	4,586	1,108	1,136	1,086	1,256	1,101	1,067	1,119
	Outflows	8,332	8,541	2,116	2,139	1,969	2,317	2,047	2,158	2,254
EU	Inflows	5,966	5,260	1,068	1,432	1,777	983	1,330	1,380	1,609
	Outflows	9,679	8,883	2,009	2,362	2,590	1,922	2,288	2,387	2,546
Non-EU	Inflows	3,653	4,086	998	1,057	880	1,151	1,014	981	988
	Outflows	4,598	5,049	1,223	1,288	1,107	1,431	1,105	1,223	1,270

Balance on Current Account		36,916	90,971	17,912	35,211	19,696	18,152	5,837	19,494	13,941

Balance on Capital Account		-8,725	-2,581	-1,634	-426	-379	-142	-11	-4,842	-1,917
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 Q3 2025 Table 1.6 (XLS 17KB)

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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	Quarter 3

Direct Investment	Abroad	-96,377	27,824	22,011	24,512	-5,189	-13,510	13,397	4,817	-393
	In Ireland	-110,044	-34,306	1,662	-23,007	11,658	-24,619	17,184	-33,984	18,744

EMU	Abroad	19,491	5,845	1,010	17,421	-11,068	-1,518	3,364	7,139	-489
	In Ireland	-73,882	-9,711	5,297	7,353	-13,038	-9,323	18,915	-9,114	2,691
Non-EMU	Abroad	-115,866	21,978	20,999	7,091	5,880	-11,992	10,033	-2,322	96
	In Ireland	-36,162	-24,593	-3,634	-30,360	24,696	-15,295	-1,730	-24,871	16,054
EU	Abroad	22,875	6,682	662	18,001	-11,047	-934	8,793	8,339	-990
	In Ireland	-71,814	-8,524	5,190	7,644	-12,639	-8,719	19,480	-10,240	3,901
Non-EU	Abroad	-119,250	21,143	21,349	6,510	5,859	-12,575	4,604	-3,522	597
	In Ireland	-38,230	-25,782	-3,526	-30,652	24,297	-15,901	-2,296	-23,744	14,844

Portfolio Investment	Assets	293,513	455,046	57,502	94,630	155,227	147,687	109,218	109,385	166,948
	Liabilities	194,938	392,067	27,864	99,739	131,474	132,990	102,592	67,252	136,160

EMU	Assets	50,118	127,588	31,915	10,051	54,152	31,470	35,349	51,542	32,219
	Liabilities	90,918	130,086	-8,124	26,277	48,592	63,341	53,804	22,050	42,174
Non-EMU	Assets	243,394	327,459	25,587	84,579	101,076	116,217	73,869	57,843	134,729
	Liabilities	104,020	261,982	35,989	73,463	82,882	69,648	48,788	45,202	93,987
EU	Assets	61,830	145,684	39,282	17,417	55,863	33,122	47,952	53,734	38,165
	Liabilities	87,386	135,919	-5,138	24,949	50,376	65,732	55,465	21,772	39,928
Non-EU	Assets	231,683	309,362	18,221	77,213	99,364	114,564	61,266	55,651	128,782
	Liabilities	107,552	256,149	33,003	74,790	81,099	67,257	47,127	45,480	96,232

Other Investment³	Assets	-96,645	37,037	1,251	27,239	10,476	-1,929	120,550	-34,511	-58,659
	Liabilities	-14,430	68,718	40,489	28,748	446	-965	108,601	25,840	-53,390

EMU	Assets	6,503	-588	-7,741	1,319	13,973	-8,139	32,951	6,886	-1,681
	Liabilities	-37,656	6,553	21,811	-623	-5,921	-8,714	32,985	40,709	-22,296
Non-EMU	Assets	-103,151	37,625	8,992	25,920	-3,497	6,210	87,599	-41,397	-56,978
	Liabilities	23,227	62,164	18,678	29,371	6,366	7,749	75,615	-14,868	-31,094
EU	Assets	7,055	10,419	-946	1,332	16,075	-6,042	42,139	-473	-2,990
	Liabilities	-38,343	12,193	25,056	2,125	-6,886	-8,102	34,440	39,766	-23,071
Non-EU	Assets	-103,700	26,619	2,197	25,907	-5,599	4,114	78,411	-34,037	-55,669
	Liabilities	23,914	56,527	15,434	26,623	7,333	7,137	74,160	-13,926	-30,319

Reserve Assets		-435	-138	-85	7	-305	245	238	-291	107

Balance on Financial Account		29,590	93,286	10,661	40,907	16,631	25,087	15,027	20,292	6,488

Net errors and omissions		1,399	4,896	-5,617	6,122	-2,686	7,077	9,201	5,640	-5,536
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 Q3 2025 Table 1.7 (XLS 17KB)

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International Accounts Q3 2025

Balance of International Payments

Balance of International Payments

Current account balance of €13.9bn in Quarter 3 2025

Balance of Payments Current Account

Current account (see Table 1.3)

Financial account (see Tables 1.4 and 1.5)

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