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Goods and Services

Goods and Services

Trade balance of €22bn in Quarter 4 2023

Online ISSN: 2565-6384
CSO statistical publication, , 11am

Ireland’s trade balance at €22bn, all goods and services exports less all goods and services imports, fell by €26bn in the fourth quarter of 2023 over the same period in 2022, mainly due to a decrease in contract manufacturing exports.

Goodsof which International Trade
Q3 202171.83641.141
Q4 202173.71243.636
Q1 202278.36552.203
Q2 202285.34152.868
Q3 202294.97153.698
Q4 202295.75249.68
Q1 202388.97750.868
Q2 202376.36551.32
Q3 202371.87147.956
Q4 202371.9848.083

Merchandise exports were €72bn in the fourth quarter of 2023, a decrease of €23.8bn compared with the same quarter of 2022.

Goodsof which International Trade
Q3 202126.79423.052
Q4 202132.36929.261
Q1 202232.10429.222
Q2 202237.40435.813
Q3 202241.38738.162
Q4 202241.25135.621
Q1 202332.98432.11
Q2 202337.88534.074
Q3 202334.45530.455
Q4 202342.235.462

Merchandise imports were €42.2bn in the fourth quarter of 2023, an increase of €1bn compared with the same period in 2022.

Q4 2023Q4 2022
Computer Services61.87852.516
Business Services17.07116.656
Financial Services5.7685.289
Royalties/Licences4.0884.143
Insurance3.8893.784
Other Services n.e.s3.864.927
Transport2.1341.785
Tourism and Travel1.5851.595
Repairs and Processing0.8030.754
Communications0.0370.039

Service exports, at €101bn, increased by €9.6bn compared to the fourth quarter of 2022, mainly due to higher computer services exports (which increased by €9.4bn).

Q4 2023Q4 2022
Business Services49.71537.786
Royalties/Licences40.51541.424
Financial Services4.9814.865
Insurance3.2583.493
Repairs and Processing3.2563.601
Computer Services2.6722.523
Tourism and Travel2.0281.904
Transport1.6551.517
Other Services n.e.s0.5420.644
Communications0.1680.158

Service imports, at €108.8bn, were up €10.9bn compared to the fourth quarter of 2022, mainly due to increased R&D related IP service imports.

Royalties/Licences Exportsof which Pharmaceuticalof which Information and Communication
Q3 20213.6750.032.245
Q4 20215.0970.0583.243
Q1 20223.4580.0632.333
Q2 20223.4940.0691.905
Q3 20223.0330.0380
Q4 20224.1430.0560
Q1 20233.7790.0421.103
Q2 20233.0680.0851.193
Q3 20233.2980.0281.154
Q4 20234.0880.110
Royalties/Licences Importsof which Pharmaceuticalof which Information and Communication
Q3 202127.6473.6550
Q4 202136.3666.8560
Q1 202229.0323.9690
Q2 202232.6017.8590
Q3 202232.8917.8230
Q4 202241.42411.2880
Q1 202337.0816.0630
Q2 202330.4686.6850
Q3 202333.0274.4120
Q4 202340.5157.8510

Please note: The figures for royalties/licences imports of which information and communication are suppressed due to confidentiality requirements.

Royalties/licences imports were €40.5bn in the fourth quarter of 2023, down €1bn on the same period in 2022.

Table 2.1 Breakdown of Merchandise Exports and Imports

Table 2.2 Breakdown of Services Exports and Imports