Ireland’s Trade in Services recorded a deficit of €0.2bn in 2022, down €5.7bn from a surplus of €5.4bn in 2021.
Total service exports increased by €39.8bn while total service imports increased by €45.5bn in 2022.
The United States, United Kingdom, Germany and the Netherlands remain Ireland’s most significant trading partners.
Exports to Europe rose by €17.5bn to €169.9bn mainly due to increased computer services exports while exports to Asia grew by €10.9bn to €73.5bn due to increased computer and business services exports. Exports to the US grew by €1.3bn to €42.4bn in 2022.
Imports from Europe rose by €22.2bn to €100.7bn due to increased royalty imports as well as increased travel, insurance and business services imports while imports from the US rose by €29.7bn to €172.7bn due to growth in royalty and Research and Development (R&D) services imports in 2022.
Computer services exports at €195.7bn remained the largest export category and royalties/licences service imports at €135.9bn remained the largest import category.
International Trade in Services | € million | ||||||
2021 | 2022 | ||||||
Exports | Imports | Net | Exports | Imports | Net | ||
Total | 299,781 | 294,333 | 5,448 | 339,623 | 339,857 | -234 | |
of which: | |||||||
USA | 41,071 | 143,006 | -101,935 | 42,412 | 172,738 | -130,326 | |
UK | 39,669 | 24,740 | 14,929 | 43,552 | 27,682 | 15,870 | |
Germany | 21,474 | 7,321 | 14,153 | 24,823 | 8,919 | 15,904 | |
Netherlands | 13,069 | 13,272 | -203 | 13,641 | 21,781 | -8,140 |
Exports | Imports | |
Europe | 169941 | 100654 |
North America | 45841 | 175136 |
Asia | 73527 | 33378 |
Other | 50314 | 30689 |
Total services exports increased by €39.8bn from €299.8bn in 2021 to €339.6bn in 2022. Total services imports increased by €45.5bn from €294.3bn in 2021 to €339.9bn in 2022. The increase in services exports was principally due to increased computer services exports (+€22bn) and increased business services exports (+€9.7bn) while the increase in services imports was predominantly due to increased royalty services imports (+€22.8bn) as well as increased business services (+€9.1bn) and tourism & travel services imports (+€5.9bn). As a result, the services balance moved from a surplus of €5.5bn in 2021 to a deficit of €0.2bn in 2022. US, UK, Germany and the Netherlands remained Ireland’s most significant trading partners.
Computer services exports at €195.7bn remained the largest export category and accounted for 58 per cent of total services exports in 2022. Royalties/licences services imports, at €135.9bn, along with R&D services imports at €45bn, were the largest import categories. When combined, these two import categories accounted for 53.3 per cent of total services imports in 2022 (see Table 1).
Services exports to Europe (€169.9bn) increased by €17.5bn between 2021 and 2022 due mainly to increased computer services exports (+€9.1bn) and increase transport services exports (+€4.5bn). The increased computer service exports were predominantly to Germany (+€1.2bn), Italy and France (+€0.9bn) and the UK (+€0.8bn), (see Table 2a & 2c).
Services exports to the US (€42.4bn) increased by €1.3bn in the same period. Services exports to Asia increased by €10.9bn to €73.9bn. Exports to Japan (€13.6bn) and China (€9.9bn) increased by €2.1bn and €0.4bn respectively.
Services imports from Europe (€100.7bn) increased by €22.2bn between 2021 and 2022 mainly due to increased royalty services imports (€10.2bn) and increased travel services (+€4.6bn) and business services imports (+€3.1bn). Service imports from Netherlands, UK, Belgium, Spain and Germany increased by €8.5bn, €2.9bn, €2.1bn, €1.9bn and €1.6bn respectively.
In the same period, services imports from the US (€172.7bn) increased by €29.7bn due to increased royalty/licences services imports (€12.7bn) and increased R&D services imports (€10.8bn), while services imports from Offshore centres (€15.9bn) decreased by €15.1bn. Services imports from Asia increased by €6.3bn to €33.4bn (see Tables 2b and 2d).
2022 | |
Luxembourg | 314.2 |
Malta | 259.8 |
Ireland | 134.2 |
Cyprus | 127.8 |
Denmark | 57.9 |
Belgium | 48.2 |
Netherlands | 39.4 |
Switzerland | 37.4 |
Greece | 36.6 |
Austria | 32.8 |
Hungary | 29.7 |
European Union - 27 countries | 29.6 |
Portugal | 27.9 |
Germany | 20.9 |
France | 20 |
Spain | 18.2 |
Italy | 12.8 |
Total services exports and imports as a percentage of GDP for selected European countries is presented in Figure 2. Ireland’s total services exports and imports as percentage of GDP at 134.2% was the third highest in Europe in 2022.
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Statistician's Comment
The Central Statistics Office (CSO) today (11 December 2023) released the International Trade in Services 2022.
Commenting on the release, Annette Hayes, Statistician in the International Accounts Division said: "Ireland’s Trade in Services recorded a deficit of €0.2bn in 2022, down €5.7bn from a surplus of €5.4bn in 2021.
This deficit was mainly due to an increase in Royalty imports of €22.8bn from Europe and the US which were significantly offset by increased computer service exports. The United States (US), United Kingdom (UK), Germany, and the Netherlands remained Ireland’s most significant trading partners".