Ireland’s Trade in Services recorded a surplus of €11.7bn in 2023, up €2bn from a surplus of €9.7bn in 2022.
Total service exports increased by €27.4bn while total service imports grew by €25.3bn in 2023.
US, UK, Germany, the Netherlands and France remain Ireland’s most significant trading partners.
Exports to Europe rose by €11bn to €194.4bn while exports to Asia grew by €6.9bn to €87.6bn, both mainly due to increased computer services exports. Exports to the US grew by €5.2bn to €52.8bn in 2023.
Imports from the US rose by €7.7bn to €186.6bn due to increased royalty services imports and imports from Europe grew by €3.8bn to €110.2bn in 2023.
Computer services exports at €228.2bn remained the largest export category and royalties/licences service imports at €141.8bn remained the largest import category.
International Trade in Services | € million | ||||||
2022 | 2023 | ||||||
Exports | Imports | Net | Exports | Imports | Net | ||
Total | 371,648 | 361,951 | 9,697 | 399,014 | 387,296 | 11,718 | |
of which: | |||||||
USA | 47,558 | 178,886 | -131,328 | 52,755 | 186,597 | -133,842 | |
UK | 44,978 | 28,133 | 16,845 | 46,708 | 29,954 | 16,754 | |
Germany | 25,425 | 9,134 | 16,291 | 27,945 | 10,947 | 16,998 | |
Netherlands | 14,096 | 21,959 | -7,863 | 14,974 | 14,293 | 681 |
Exports | Imports | |
Europe | 194430 | 110224 |
North America | 56418 | 188272 |
Asia | 87570 | 38068 |
Other | 60596 | 50732 |
Total services exports increased by €27.4bn from €371.6bn in 2022 to €399bn in 2023. Total services imports rose by €25.3bn from €362bn in 2022 to €387.3bn in 2023. The increase in services exports was principally due to growth in computer services exports (+€23.3bn) while the rise in services imports was predominantly due to increases in business services (+€12.8bn), royalty services imports (+€5.4bn), and tourism & travel services imports (+€4bn). As a result, the services surplus went up by €2bn from €9.7bn in 2022 to €11.7bn in 2023. US, UK, Germany, the Netherlands and France remained Ireland’s most significant trading partners.
Computer services exports at €228.2bn remained the largest export category and accounted for 57.2% of total services exports in 2023. Royalties/licences services imports, at €141.8bn, along with R&D services imports at €53.4bn, were the largest import categories. When combined, these two import categories accounted for 50.4% of total services imports in 2023 (See Table 1).
Services exports to Europe (€194.4bn) rose by €11bn between 2022 and 2023 due mainly to increased computer services exports (+€8.7bn) and tourism & transport services exports (+€2.5bn). The growth in computer service exports were predominantly to Germany (+€1.7bn), Italy and Luxembourg (+€1.1bn and +€1.2bn) and the UK (+€0.8bn), (See Tables 2a - 2c).
Services exports to the US (€52.8n) rose by €5.2bn in the same period due to larger business services and computer service exports. Services exports to Asia grew by €6.9bn to €87.6bn. Exports to Japan (€12.9bn) decreased by €1.2bn while exports to China (€10.8bn) went up by €0.3bn.
Services imports from Europe (€110.2bn) grewsed by €3.8bn between 2022 and 2023 due to increased other services imports (€6.2bn), tourism and travel services (€2.7bn) and business services imports (€1.9bn) which were offset by decreased royalty services imports (-€8.3bn). Service imports from Netherlands fell by €7.7bn while service imports from Switzerland, UK, Germany and France rose by €3.9bn, €1.8bn, €1.8bn and €1.6bn respectively.
In the same period, services imports from the US (€186.6bn) went up by €7.7bn due to increased royalty/licences services imports (€13bn) while services imports from Asia (€38.1bn) and Offshore centres (€17.9bn) declined marginally by €0.8bn and €0.2bn respectively. (See Tables 2b & 2d).
2023 | |
Luxembourg | 327.9 |
Malta | 177 |
Ireland | 145.7 |
Cyprus | 126.6 |
Denmark | 56.1 |
Belgium | 47.4 |
Netherlands | 47 |
Switzerland | 41.3 |
Greece | 34.5 |
Austria | 33.1 |
European Union - 27 countries (from 2020) | 30.4 |
Hungary | 29 |
Portugal | 28.3 |
France | 21.1 |
Germany | 21 |
Spain | 18.4 |
Italy | 13.2 |
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 145.7% was the third highest in Europe in 2023.
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Statistician's Comment
The Central Statistics Office (CSO) today (16 January 2025) published the International Trade in Services 2023.
Commenting on the release, Annette Hayes, Statistician in the International Accounts Division said: "Ireland’s Trade in Services recorded a surplus of €11.7bn in 2023, up €2bn from a surplus of €9.7bn in 2022. This surplus was mainly due to growth in computer service exports of €23.3bn which were offset by increased business service import, royalty imports and tourism & travel imports. The US, UK, Germany, the Netherlands and France remained Ireland’s most significant trading partners."