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Current account with UK shows surplus of €0.1bn in Quarter 4 2020
normal
| Merchandise | Services | Income | Current Account |
Q3 2018 | -0.437 | 3.308 | -3.545 | -0.674 |
Q4 2018 | -0.676 | 3.267 | -3.917 | -1.326 |
Q1 2019 | -1.755 | 3.087 | -3.29 | -1.957 |
Q2 2019 | -0.736 | 3.447 | -4.478 | -1.767 |
Q3 2019 | -0.948 | 3.835 | -3.786 | -0.899 |
Q4 2019 | -1.326 | 3.974 | -2.691 | -0.043 |
Q1 2020 | -1.117 | 3.319 | -3.351 | -1.15 |
Q2 2020 | -1.226 | 3.43 | -2.116 | 0.088 |
Q3 2020 | -0.936 | 4.147 | -1.956 | 1.254 |
Q4 2020 | -1.605 | 3.935 | -2.184 | 0.146 |
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Current account with UK (See Table 3.1)
- Merchandise exports were €6,003m in the fourth quarter of 2020, an increase of €299m compared with the fourth quarter of 2019.
- Merchandise imports were €7,608m in the fourth quarter of 2020, an increase of €578m compared with the fourth quarter of 2019.
- Services exports at €9,705m increased by €83m compared to the fourth quarter of 2019, mainly due to computer and financial exports.
- Services imports at €5,770m were up €122m over that same period in 2019. These figures were affected by increased levels of financial and business costs.
- Investment income earned in UK at €4,766m, decreased by €1,402m compared with one year earlier while investment income payable to UK investors at €6,963m decreased by €1,903m.
- When these effects are combined, the trade balance with the UK has decreased by €318m and net income outflows have decreased by €507m, compared with the fourth quarter of 2019. The result is a current account balance surplus of €146m in the fourth quarter of 2020, up from a deficit of €43m in the fourth quarter of 2019.
The experimental table on foreign direct investment with UK (See Table 3.2); shows that direct investment in Ireland from the UK has increased by €1,024m in the fourth quarter of 2020. Direct investment abroad from Ireland to the UK has increased by €630m in the fourth quarter of 2020 mainly due to increases in other capital and equity.
Table 3.1 Current Account with UK
Table 3.2 Foreign Direct Investment with UK
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