| € million | ||||
| Merchandise Balance | Invisibles Balance | Current Account Balance | Current Account Balance as % of GDP | |
| Q1 2014 | 10,146 | -9,185 | 960 | 2.2 |
| Q1 2013 | 8,671 | -7,890 | 781 | 1.8 |
| Year 2013 | 36,182 | -28,548 | 7,633 | 4.4 |
| Year 2012 | 42,405 | -39,704 | 2,702 | 1.6 |
The Balance of Payments current account was €960m in surplus in the first quarter of 2014. This compares with a current account surplus of €781m for the corresponding quarter of 2013. A merchandise surplus of €10,146m was partially offset by an invisibles deficit of €9,185m in the quarter.
| Merchandise | Services | Primary Income | |
| Q1 2012 | 9.935 | -1.732 | -8.698 |
| Q2 2012 | 11.606 | -2.482 | -7.928 |
| Q3 2012 | 11.056 | -0.911 | -7.843 |
| Q4 2012 | 9.808 | -1.853 | -5.84 |
| Q1 2013 | 8.671 | -0.352 | -6.786 |
| Q2 2013 | 10.293 | -0.232 | -8.095 |
| Q3 2013 | 9.583 | 0.52 | -6.929 |
| Q4 2013 | 7.635 | 0.242 | -4.454 |
| Q1 2014 | 10.146 | -1.166 | -7.284 |
Compared with the first quarter of 2013, the merchandise surplus in the first quarter of 2014 increased by €1,475m, while the invisibles deficit increased by €1,295m. This latter increase was mainly due to an increase in the services deficit of €814m (see Table 1a).
Total service exports at €22,349m increased by €1,129m between Q1 2013 and Q1 2014. This arose from both an increase in the exports of business services (+€1,025) and an increase in the exports of computer services (+€175m). Total service imports at €23,515m increased by €1,944m, caused by an increase in imports of royalties/licences (€1,568m), business services (€367m), and financial services (€331m) combined with a decrease in insurance services (-€199m) (see Table 2a).
The direct investment income from abroad of Irish-resident businesses declined by €558m between Q1 2013 and Q1 2014 to €4,066m. In the same period outflows of direct investment income from foreign-owned enterprises in Ireland increased by €103m to €10,520m (see Table 2a).
In the financial account, direct investment in Ireland decreased by €7.7bn in the first quarter of 2014 while direct investment abroad decreased by €547m. Portfolio investment in foreign assets increased by €32.7bn while foreign portfolio investors invested €44.3bn in Ireland during Q1 2014. Other investment assets increased by €33.5bn and corresponding liabilities increased by €29.3bn for the same period (see Table 2b).
Introduction of BPM6 methodology and revised results for 2012 and 2013.
For the first time in this release CSO presents BOP data compiled according to the new IMF Balance of Payments and International Investment Position Manual Version 6 (BPM6) methodology, for details on the changes made to the Irish data see http://www.cso.ie/en/surveysandmethodology/balanceofpayments/methodologydocuments/ .
New and updated information for 2012 and 2013 have led to revisions to the current account for those years and the revised results are included in the 2013 National Income and Expenditure Release published today. The financial accounts results for 2012 and 2013 have also been amended to reflect new and revised data.
| Table 1 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 | Invisibles | ||||||||||||||||
| Services | Primary Income | Secondary Income | Total | ||||||||||||||
| 1998 | Year | 17,510 | -8,426 | -9,776 | 1,319 | -16,883 | 627 | 840 | -4,422 | 8,466 | -7,459 | 2,280 | -1,135 | -2,602 | |||
| 1999 | Year | 22,170 | -9,723 | -13,398 | 1,177 | -21,944 | 226 | 560 | -11,359 | 14,342 | 974 | -1,746 | 2,211 | 1,425 | |||
| 2000 | Year | 27,266 | -13,312 | -15,327 | 994 | -27,645 | -379 | 1182 | -22,957 | 5,358 | 9,037 | 142 | -8,420 | -9,223 | |||
| 2001 | Year | 30,494 | -12,412 | -19,142 | 305 | -31,249 | -755 | 779 | -6,241 | 25,158 | -19,039 | 441 | 319 | 295 | |||
| 2002 | Year | 35,442 | -13,242 | -24,233 | 707 | -36,768 | -1,327 | 588 | -19,444 | 37,979 | -19,263 | -343 | -1,071 | -332 | |||
| 2003 | Year | 32,604 | -10,590 | -22,772 | 432 | -32,930 | -326 | 279 | -15,270 | 39,977 | -21,567 | -1,770 | 1,370 | 1,417 | |||
| 2004 | Year | 33,903 | -11,906 | -23,333 | 393 | -34,846 | -942 | 355 | 23,095 | -14,287 | -11,430 | -1,177 | -3,799 | -3,212 | |||
| 2005 | Year | 32,236 | -12,391 | -25,919 | 265 | -38,045 | -5,809 | 340 | 36,992 | -52,698 | 17,665 | -1,472 | 487 | 5,956 | |||
| 2006 | Year | 30,332 | -11,300 | -25,053 | -506 | -36,859 | -6,526 | 299 | 16,634 | -8,135 | -13,182 | -87 | -4,770 | 1,457 | |||
| 2007 | Year | 28,627 | -9,043 | -29,130 | -990 | -39,163 | -10,535 | 115 | -2,602 | 7,283 | -16,744 | 12 | -12,051 | -1,631 | |||
| 2008 | Year | 31,179 | -14,875 | -25,838 | -1,154 | -41,867 | -10,689 | 119 | 24,167 | 45,749 | -86,128 | 78 | -16,134 | -5,564 | |||
| 2009 | Year | 39,864 | -15,049 | -28,515 | -1,424 | -44,988 | -5,125 | 14 | 649 | -22,626 | 23,116 | -79 | 1,060 | 6,171 | |||
| 2010 | Year | 42,877 | -14,091 | -26,429 | -1,412 | -41,932 | 945 | 91 | -15,446 | -85,965 | 94,140 | -5 | -7,276 | -8,312 | |||
| 2011 | Year | 43,321 | -8,634 | -32,127 | -1,183 | -41,945 | 1,377 | 234 | -17,775 | -26,908 | 34,937 | -329 | -10,075 | -11,686 | |||
| 2012 3 | Year | 42,405 | -6,978 | -30,309 | -2,417 | -39,704 | 2,702 | 86 | -23,288 | 4,080 | 19,101 | -12 | -120 | -2,907 | |||
| 2013 3 | Year | 36,182 | 178 | -26,264 | -2,462 | -28,548 | 7,633 | 100 | -9,835 | 46,301 | -25,374 | 10 | 11,103 | 3,370 | |||
| 2008 | Quarter 1 | 6,303 | -3,361 | -6,283 | -781 | -10,425 | -4,123 | 42 | 3,191 | -8,182 | -3,140 | -74 | -8,205 | -4,124 | |||
| Quarter 2 | 7,699 | -3,258 | -6,564 | -570 | -10,392 | -2,693 | 66 | 3,077 | 5,541 | -18,414 | 46 | -9,749 | -7,122 | ||||
| Quarter 3 | 7,696 | -3,137 | -7,295 | -386 | -10,818 | -3,121 | 0 | 9,276 | 12,083 | -21,835 | 39 | -437 | 2,684 | ||||
| Quarter 4 | 9,481 | -5,119 | -5,696 | 583 | -10,232 | -752 | 11 | 8,623 | 36,307 | -42,739 | 67 | 2,259 | 3,000 | ||||
| 2009 | Quarter 1 | 9,688 | -3,996 | -7,164 | -910 | -12,070 | -2,382 | -3 | 1,107 | 2,331 | -429 | -41 | 2,969 | 5,354 | |||
| Quarter 2 | 10,715 | -3,635 | -7,589 | -725 | -11,949 | -1,234 | -1 | -1,148 | 15,776 | -23,345 | 62 | -8,654 | -7,419 | ||||
| Quarter 3 | 10,019 | -2,317 | -7,561 | -495 | -10,373 | -354 | -10 | 7,508 | -26,570 | 22,020 | -3 | 2,954 | 3,318 | ||||
| Quarter 4 | 9,442 | -5,101 | -6,201 | 706 | -10,596 | -1,155 | 28 | -6,818 | -14,163 | 24,870 | -97 | 3,791 | 4,918 | ||||
| 2010 | Quarter 1 | 10,296 | -2,922 | -7,568 | -838 | -11,328 | -1,032 | 50 | -4,547 | -19,821 | 32,131 | -32 | 7,731 | 8,713 | |||
| Quarter 2 | 11,372 | -3,435 | -7,518 | -588 | -11,541 | -169 | 4 | -2,972 | 8,568 | -16,773 | 19 | -11,158 | -10,993 | ||||
| Quarter 3 | 11,880 | -3,204 | -6,649 | -657 | -10,510 | 1,370 | 14 | 1,354 | 19,581 | -25,635 | 76 | -4,624 | -6,008 | ||||
| Quarter 4 | 9,329 | -4,530 | -4,693 | 671 | -8,552 | 777 | 23 | -9,281 | -94,293 | 104,417 | -68 | 775 | -25 | ||||
| 2011 | Quarter 1 | 10,172 | -2,926 | -7,859 | -711 | -11,496 | -1,323 | 24 | -8,203 | -7,063 | 11,577 | -65 | -3,754 | -2,455 | |||
| Quarter 2 | 10,931 | -1,532 | -8,320 | -521 | -10,373 | 557 | 1 | -7,373 | -22,344 | 28,928 | 29 | -760 | -1,318 | ||||
| Quarter 3 | 11,854 | -1,665 | -8,101 | -562 | -10,328 | 1,526 | -1 | -6,622 | 19,456 | -15,888 | -24 | -3,078 | -4,603 | ||||
| Quarter 4 | 10,364 | -2,511 | -7,848 | 611 | -9,748 | 616 | 210 | 4,423 | -16,957 | 10,320 | -269 | -2,483 | -3,309 | ||||
| 2012 3 | Quarter 1 | 9,935 | -1,732 | -8,698 | -734 | -11,164 | -1,228 | 61 | -15,890 | 46,456 | -28,100 | -12 | 2,453 | 3,621 | |||
| Quarter 2 | 11,606 | -2,482 | -7,928 | -564 | -10,974 | 632 | 1 | 2,591 | -31,560 | 23,823 | 6 | -5,140 | -5,773 | ||||
| Quarter 3 | 11,056 | -911 | -7,843 | -602 | -9,356 | 1,700 | 5 | -14,887 | -5,003 | 19,228 | -1 | -663 | -2,368 | ||||
| Quarter 4 | 9,808 | -1,853 | -5,840 | -517 | -8,210 | 1,598 | 19 | 4,898 | -5,813 | 4,150 | -5 | 3,230 | 1,613 | ||||
| 2013 3 | Quarter 1 | 8,671 | -352 | -6,786 | -752 | -7,890 | 781 | 53 | -3,535 | 21,668 | -12,225 | 0 | 5,909 | 5,074 | |||
| Quarter 2 | 10,293 | -232 | -8,095 | -640 | -8,967 | 1,326 | 12 | -7,358 | 4,742 | 1,178 | 1 | -1,437 | -2,774 | ||||
| Quarter 3 | 9,583 | 520 | -6,929 | -487 | -6,896 | 2,687 | 1 | -462 | 2,439 | 96 | 4 | 2,077 | -611 | ||||
| Quarter 4 | 7,635 | 242 | -4,454 | -583 | -4,795 | 2,839 | 34 | 1,520 | 17,452 | -14,423 | 5 | 4,554 | 1,681 | ||||
| 2014 | Quarter 1 | 10,146 | -1,166 | -7,284 | -735 | -9,185 | 960 | 35 | 7,126 | -11,660 | 4,252 | 0 | -283 | -1,278 | |||
| 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. | |||||||||||||||||
| 3Revised | |||||||||||||||||
| Table 2a Current and Capital Accounts | € million | ||||||||||||||
| 2012 1 | 2013 1 | 2012 1 | 2013 1 | 2014 | |||||||||||
| Item | Year | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Quarter 1 | |||||
| Current Account | |||||||||||||||
| Merchandise 2 | Exports | 96,976 | 91,763 | 24,565 | 24,725 | 24,435 | 23,251 | 22,467 | 24,092 | 23,172 | 22,032 | 24,320 | |||
| Imports | 54,571 | 55,580 | 14,630 | 13,119 | 13,379 | 13,443 | 13,796 | 13,798 | 13,589 | 14,397 | 14,174 | ||||
| of which: Merchanting (net export) | Exports | 5,261 | 3,751 | 1,183 | 1,417 | 1,379 | 1,282 | 799 | 965 | 944 | 1,043 | 850 | |||
| Services | Exports | 85,527 | 92,292 | 19,922 | 21,873 | 21,276 | 22,456 | 21,220 | 23,406 | 22,710 | 24,956 | 22,349 | |||
| Imports | 92,504 | 92,113 | 21,653 | 24,355 | 22,187 | 24,309 | 21,571 | 23,638 | 22,190 | 24,714 | 23,515 | ||||
| Repairs and Processing | Exports | 1,322 | 1,406 | 321 | 379 | 313 | 309 | 362 | 329 | 356 | 359 | 346 | |||
| Imports | 1,167 | 726 | 265 | 327 | 296 | 279 | 223 | 151 | 187 | 165 | 138 | ||||
| Transport | Exports | 4,609 | 4,396 | 872 | 1,321 | 1,409 | 1,007 | 777 | 1,242 | 1,420 | 957 | 746 | |||
| Imports | 1,675 | 1,640 | 468 | 390 | 415 | 402 | 421 | 414 | 402 | 403 | 458 | ||||
| Tourism and Travel 3 | Exports | 3,022 | 3,370 | 506 | 851 | 1,018 | 647 | 566 | 904 | 1,211 | 689 | 558 | |||
| Imports | 4,609 | 4,669 | 865 | 1,098 | 1,713 | 933 | 871 | 1,143 | 1,706 | 949 | 788 | ||||
| Insurance | Exports | 8,986 | 9,021 | 2,275 | 2,224 | 2,253 | 2,234 | 2,335 | 2,260 | 2,090 | 2,336 | 2,299 | |||
| Imports | 6,516 | 5,922 | 1,688 | 1,532 | 1,628 | 1,668 | 1,650 | 1,551 | 1,349 | 1,372 | 1,451 | ||||
| Financial services | Exports | 7,732 | 8,157 | 1,943 | 1,856 | 1,928 | 2,005 | 1,938 | 2,096 | 2,055 | 2,068 | 1,945 | |||
| Imports | 5,077 | 5,172 | 1,357 | 1,166 | 1,314 | 1,240 | 1,253 | 1,302 | 1,298 | 1,319 | 1,584 | ||||
| Royalties/Licences | Exports | 3,879 | 4,140 | 1,000 | 1,033 | 961 | 885 | 962 | 1,140 | 940 | 1,098 | 979 | |||
| Imports | 33,847 | 35,796 | 7,819 | 8,753 | 8,098 | 9,177 | 8,713 | 8,953 | 8,417 | 9,713 | 10,281 | ||||
| Communications | Exports | 569 | 591 | 116 | 131 | 127 | 195 | 152 | 157 | 133 | 149 | 143 | |||
| Imports | 1,087 | 1,076 | 269 | 287 | 250 | 281 | 214 | 295 | 300 | 267 | 256 | ||||
| Computer services 4 | Exports | 36,150 | 38,956 | 8,412 | 9,296 | 8,243 | 10,199 | 9,354 | 10,001 | 8,825 | 10,776 | 9,529 | |||
| Imports | 349 | 346 | 90 | 85 | 85 | 89 | 100 | 82 | 83 | 81 | 69 | ||||
| Business services | Exports | 17,750 | 20,575 | 4,193 | 4,440 | 4,542 | 4,575 | 4,413 | 4,917 | 5,317 | 5,928 | 5,438 | |||
| Imports | 37,967 | 36,550 | 8,781 | 10,666 | 8,336 | 10,184 | 8,071 | 9,694 | 8,394 | 10,391 | 8,438 | ||||
| Research and development | Exports | 766 | 1,060 | 167 | 186 | 207 | 206 | 230 | 256 | 275 | 299 | 288 | |||
| Imports | 7,094 | 5,181 | 1,208 | 3,357 | 1,139 | 1,390 | 1,144 | 1,098 | 1,402 | 1,537 | 1,319 | ||||
| Operational leasing | Exports | 7,537 | 7,497 | 1,764 | 1,890 | 1,956 | 1,927 | 1,804 | 1,858 | 1,953 | 1,882 | 1,846 | |||
| Imports | 1,434 | 1,393 | 307 | 361 | 381 | 385 | 357 | 392 | 337 | 307 | 289 | ||||
| Misc. business services 5 | Exports | 9,445 | 12,018 | 2,262 | 2,363 | 2,379 | 2,441 | 2,379 | 2,803 | 3,089 | 3,747 | 3,304 | |||
| Imports | 29,438 | 29,976 | 7,265 | 6,948 | 6,815 | 8,410 | 6,570 | 8,204 | 6,655 | 8,547 | 6,830 | ||||
| Other services n.e.s. | Exports | 1,511 | 1,681 | 285 | 342 | 482 | 402 | 361 | 360 | 363 | 597 | 366 | |||
| Imports | 214 | 217 | 53 | 52 | 54 | 55 | 54 | 54 | 55 | 54 | 53 | ||||
| Primary Income | Inflows | 58,416 | 56,282 | 14,177 | 14,901 | 14,437 | 14,901 | 13,614 | 13,889 | 13,972 | 14,807 | 14,162 | |||
| Outflows | 88,726 | 82,546 | 22,875 | 22,829 | 22,280 | 20,742 | 20,400 | 21,984 | 20,901 | 19,261 | 21,446 | ||||
| Compensation of Employees | Inflows | 541 | 544 | 133 | 136 | 136 | 136 | 136 | 136 | 136 | 136 | 136 | |||
| Outflows | 743 | 706 | 185 | 178 | 192 | 188 | 167 | 179 | 179 | 181 | 175 | ||||
| Investment Income | Inflows | 56,242 | 54,287 | 13,925 | 14,721 | 14,171 | 13,425 | 13,416 | 13,713 | 13,724 | 13,434 | 13,980 | |||
| Outflows | 87,566 | 81,411 | 22,559 | 22,561 | 21,995 | 20,451 | 20,101 | 21,705 | 20,620 | 18,985 | 21,135 | ||||
| Direct investment income | Inflows | 17,791 | 17,883 | 4,459 | 4,786 | 4,327 | 4,219 | 4,624 | 4,383 | 4,598 | 4,278 | 4,066 | |||
| Outflows | 43,299 | 40,395 | 11,989 | 11,026 | 10,889 | 9,395 | 10,417 | 10,894 | 10,660 | 8,424 | 10,520 | ||||
| Income on equity | Inflows | 14,092 | 14,395 | 3,469 | 3,809 | 3,371 | 3,443 | 3,646 | 3,634 | 3,692 | 3,423 | 3,106 | |||
| Outflows | 38,742 | 34,901 | 10,884 | 9,927 | 9,657 | 8,274 | 9,301 | 9,757 | 9,393 | 6,450 | 9,483 | ||||
| Dividends & distributed | Inflows | 3,178 | 3,857 | 135 | 537 | * | * | 221 | 1,335 | 109 | 2,192 | 80 | |||
| branch profits | Outflows | 17,882 | 17,106 | 4,565 | 4,496 | 4,307 | 4,514 | 4,786 | 5,487 | 3,306 | 3,527 | 3,853 | |||
| Reinvested earnings | Inflows | 10,915 | 10,538 | 3,334 | 3,273 | * | * | 3,425 | 2,299 | 3,583 | 1,231 | 3,027 | |||
| Outflows | 20,859 | 17,794 | 6,319 | 5,430 | 5,350 | 3,760 | 4,515 | 4,271 | 6,086 | 2,922 | 5,630 | ||||
| Income on debt | Inflows | 3,697 | 3,488 | 990 | 976 | 956 | 775 | 978 | 749 | 906 | 855 | 960 | |||
| Outflows | 4,556 | 5,494 | 1,105 | 1,099 | 1,231 | 1,121 | 1,116 | 1,137 | 1,267 | 1,974 | 1,036 | ||||
| Portfolio investment income | Inflows | 24,936 | 26,044 | 5,896 | 6,514 | 6,480 | 6,046 | 6,118 | 6,695 | 6,658 | 6,573 | 7,613 | |||
| Outflows | 31,809 | 31,092 | 7,192 | 8,384 | 8,073 | 8,160 | 7,031 | 8,380 | 7,635 | 8,046 | 8,432 | ||||
| Income on equity | Inflows | 6,364 | 6,920 | 1,358 | 1,817 | 1,697 | 1,492 | 1,560 | 1,908 | 1,832 | 1,620 | 1,806 | |||
| Outflows | 18,748 | 20,046 | 3,694 | 5,077 | 4,793 | 5,184 | 4,138 | 5,617 | 4,926 | 5,365 | 6,061 | ||||
| Income on debt | Inflows | 18,570 | 19,125 | 4,537 | 4,697 | 4,783 | 4,553 | 4,558 | 4,787 | 4,826 | 4,954 | 5,807 | |||
| Outflows | 13,061 | 11,048 | 3,498 | 3,307 | 3,280 | 2,976 | 2,894 | 2,764 | 2,709 | 2,681 | 2,371 | ||||
| Other investment income | Inflows | 13,517 | 10,358 | 3,570 | 3,422 | 3,364 | 3,161 | 2,674 | 2,634 | 2,468 | 2,582 | 2,300 | |||
| Outflows | 12,457 | 9,925 | 3,379 | 3,150 | 3,033 | 2,895 | 2,654 | 2,431 | 2,326 | 2,514 | 2,184 | ||||
| Other primary income | Inflows | 1,632 | 1,451 | 119 | 43 | 130 | 1,340 | 62 | 40 | 112 | 1,237 | 46 | |||
| Outflows | 416 | 427 | 130 | 90 | 93 | 103 | 132 | 99 | 101 | 95 | 136 | ||||
| Secondary Income | Inflows | 3,918 | 3,246 | 1,110 | 1,026 | 1,021 | 761 | 909 | 760 | 866 | 711 | 694 | |||
| Outflows | 6,336 | 5,708 | 1,844 | 1,590 | 1,624 | 1,278 | 1,660 | 1,400 | 1,354 | 1,294 | 1,429 | ||||
| Current Account - Total | Inflows | 244,839 | 243,582 | 59,774 | 62,525 | 61,170 | 61,370 | 58,210 | 62,146 | 60,720 | 62,506 | 61,525 | |||
| Outflows | 242,137 | 235,948 | 61,002 | 61,893 | 59,470 | 59,772 | 57,428 | 60,820 | 58,033 | 59,667 | 60,565 | ||||
| Current Account Balance | 2,702 | 7,633 | -1,228 | 632 | 1,700 | 1,598 | 781 | 1,326 | 2,687 | 2,839 | 960 | ||||
| Capital Account Balance | 86 | 100 | 61 | 1 | 5 | 19 | 53 | 12 | 1 | 34 | 35 | ||||
| Memorandum Item: | |||||||||||||||
| Government Income | Inflows | 115 | 141 | 23 | 38 | 23 | 31 | 28 | 48 | 37 | 28 | 13 | |||
| Outflows | 4,621 | 4,644 | 1,089 | 1,115 | 1,187 | 1,230 | 1,194 | 1,148 | 1,157 | 1,145 | 1,154 | ||||
| 1Revised | |||||||||||||||
| 2Adjusted for balance of payments purposes | |||||||||||||||
| 3Under the credit item, passenger fare receipts of resident carriers from foreign visitors are excluded; such receipts are included under transport credits - see Background Notes. | |||||||||||||||
| 4Covers exports and imports of software that was not incorporated as part of computer hardware or physical media but separately transmited by electronic means. The value of sales | |||||||||||||||
| and purchases of additional software licences is also included. | |||||||||||||||
| 5Covers mainly advertising and inter-affiliate management charges. | |||||||||||||||
| *Suppressed for confidentiality reasons | |||||||||||||||
| Table 2b Financial Account¹ | € million | ||||||||||||||
| 2012 2 | 2013 2 | 2012 2 | 2013 2 | 2014 | |||||||||||
| Item | Year | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Quarter 1 | |||||
| Direct Investment | Abroad | 11,897 | 18,057 | 2,623 | 3,677 | -136 | 5,733 | 14,182 | -2,037 | 4,004 | 1,908 | -547 | |||
| In Ireland | 35,184 | 27,892 | 18,513 | 1,086 | 14,751 | 834 | 17,717 | 5,321 | 4,466 | 388 | -7,673 | ||||
| Equity | Abroad | 6,845 | 7,566 | 3,513 | 2,623 | * | * | 14,435 | -8,255 | 372 | 1,014 | -5,085 | |||
| In Ireland | 18,473 | 6,825 | 6,540 | 5,218 | 4,409 | 2,306 | 11,167 | -465 | -1,774 | -2,103 | -2,958 | ||||
| Reinvested Earnings | Abroad | 10,915 | 10,538 | 3,334 | 3,273 | * | * | 3,425 | 2,299 | 3,583 | 1,231 | 3,027 | |||
| In Ireland | 20,859 | 17,794 | 6,319 | 5,430 | 5,350 | 3,760 | 4,515 | 4,271 | 6,086 | 2,922 | 5,630 | ||||
| Other Capital | Abroad | -5,864 | -47 | -4,224 | -2,219 | -1,815 | 2,394 | -3,678 | 3,918 | 49 | -336 | 1,512 | |||
| In Ireland | -4,147 | 3,273 | 5,655 | -9,562 | 4,992 | -5,232 | 2,034 | 1,516 | 154 | -431 | -10,346 | ||||
| Portfolio Investment | Assets | 74,522 | 100,923 | 61,838 | -28,591 | 19,655 | 21,620 | 57,692 | 1,550 | 19,809 | 21,872 | 32,667 | |||
| Liabilities | 70,442 | 54,622 | 15,383 | 2,968 | 24,658 | 27,433 | 36,024 | -3,192 | 17,370 | 4,420 | 44,327 | ||||
| Equity | Assets | 13,182 | 60,653 | 6,000 | -3,829 | -1,420 | 12,431 | 16,266 | 8,997 | 11,263 | 24,127 | 15,667 | |||
| Liabilities | 80,080 | 82,260 | 26,870 | 8,397 | 18,187 | 26,626 | 33,154 | 4,893 | 27,181 | 17,032 | 42,694 | ||||
| Debt Instruments | Assets | 61,339 | 40,271 | 55,838 | -24,763 | 21,075 | 9,189 | 41,427 | -7,447 | 8,546 | -2,255 | 16,999 | |||
| Liabilities | -9,638 | -27,638 | -11,488 | -5,429 | 6,472 | 807 | 2,870 | -8,085 | -9,811 | -12,612 | 1,633 | ||||
| Bonds and notes | Assets | 55,246 | 45,604 | 10,036 | -1,291 | 11,625 | 34,876 | 27,900 | 2,247 | 4,843 | 10,614 | 1,380 | |||
| Liabilities | -11,614 | -19,039 | -9,831 | -3,825 | 4,654 | -2,612 | 1,186 | -7,781 | -7,510 | -4,934 | 783 | ||||
| Money market instruments | Assets | 6,096 | -5,333 | 45,803 | -23,471 | 9,450 | -25,686 | 13,527 | -9,694 | 3,703 | -12,869 | 15,620 | |||
| Liabilities | 1,976 | -8,596 | -1,657 | -1,604 | 1,818 | 3,419 | 1,684 | -303 | -2,300 | -7,677 | 850 | ||||
| Other Investment | Assets | -82,026 | -51,470 | -61,206 | 14,939 | -1,650 | -34,109 | -7,658 | -7,687 | -6,103 | -30,022 | 33,526 | |||
| Liabilities | -101,126 | -26,098 | -33,105 | -8,884 | -20,878 | -38,259 | 4,566 | -8,865 | -6,199 | -15,600 | 29,275 | ||||
| Loans, currency and deposits | Assets | -80,270 | -46,049 | -58,024 | 17,724 | -3,549 | -36,421 | -15,255 | -8,982 | -6,626 | -15,186 | 13,717 | |||
| Liabilities | -90,212 | -16,269 | -33,053 | -2,681 | -27,622 | -26,856 | -11,703 | -685 | -2,382 | -1,499 | -3,091 | ||||
| Other 3 | Assets | -1,756 | -5,421 | -3,182 | -2,785 | 1,899 | 2,312 | 7,596 | 1,295 | 524 | -14,836 | 19,809 | |||
| Liabilities | -10,915 | -9,828 | -53 | -6,203 | 6,744 | -11,403 | 16,270 | -8,180 | -3,817 | -14,101 | 32,366 | ||||
| Reserve Assets | -12 | 10 | -12 | 6 | -1 | -5 | 0 | 1 | 4 | 5 | 0 | ||||
| Monetary gold | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Special drawing rights | 8 | 10 | 6 | 5 | 2 | -5 | 1 | 2 | 3 | 4 | 0 | ||||
| Reserve position in the IMF | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Foreign exchange | -1 | 0 | -1 | 2 | -2 | 0 | -1 | -1 | 1 | 1 | 0 | ||||
| Other | -19 | 0 | -17 | -1 | -1 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Balance on Financial Account | -120 | 11,103 | 2,453 | -5,140 | -663 | 3,230 | 5,909 | -1,437 | 2,077 | 4,554 | -283 | ||||
| Net errors and omissions | -2,907 | 3,370 | 3,621 | -5,773 | -2,368 | 1,613 | 5,074 | -2,774 | -611 | 1,681 | -1,278 | ||||
| Memorandum Item: | |||||||||||||||
| Government financial | Assets | 2,734 | 3,017 | 753 | -520 | 454 | 2,047 | 961 | -9 | 377 | 1,688 | 175 | |||
| transactions | Liabilities | 20,475 | 4,940 | 5,490 | 4,498 | 8,587 | 1,900 | 6,972 | -852 | 2,224 | -3,404 | 3,536 | |||
| 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'. | |||||||||||||||
| 2Revised | |||||||||||||||
| 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. | |||||||||||||||
| *Suppressed for confidentiality reasons | |||||||||||||||
| Table 3 Current, Capital and Financial Accounts showing IFSC¹ and Non–IFSC activity | € million | ||||||||||||||||
| 2012 2 | 2013 2 | 2012 2 | 2013 2 | 2014 | |||||||||||||
| Item | Year | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Quarter1 | |||||||
| Current Account - Total | Inflows | 244,839 | 243,582 | 59,774 | 62,525 | 61,170 | 61,370 | 58,210 | 62,146 | 60,720 | 62,506 | 61,525 | |||||
| Outflows | 242,137 | 235,948 | 61,002 | 61,893 | 59,470 | 59,772 | 57,428 | 60,820 | 58,033 | 59,667 | 60,565 | ||||||
| Merchandise 3 | Exports | 96,976 | 91,763 | 24,565 | 24,725 | 24,435 | 23,251 | 22,467 | 24,092 | 23,172 | 22,032 | 24,320 | |||||
| Imports | 54,571 | 55,580 | 14,630 | 13,119 | 13,379 | 13,443 | 13,796 | 13,798 | 13,589 | 14,397 | 14,174 | ||||||
| Services | Exports | 85,527 | 92,292 | 19,922 | 21,873 | 21,276 | 22,456 | 21,220 | 23,406 | 22,710 | 24,956 | 22,349 | |||||
| Imports | 92,504 | 92,113 | 21,653 | 24,355 | 22,187 | 24,309 | 21,571 | 23,638 | 22,190 | 24,714 | 23,515 | ||||||
| IFSC | Exports | 24,740 | 25,863 | 6,124 | 6,125 | 6,225 | 6,266 | 6,266 | 6,491 | 6,380 | 6,726 | 6,661 | |||||
| Imports | 15,195 | 15,298 | 3,803 | 3,567 | 3,796 | 4,029 | 3,852 | 3,909 | 3,737 | 3,800 | 4,049 | ||||||
| Non-IFSC | Exports | 60,786 | 66,428 | 13,797 | 15,748 | 15,051 | 16,190 | 14,954 | 16,914 | 16,330 | 18,230 | 15,688 | |||||
| Imports | 77,309 | 76,815 | 17,850 | 20,788 | 18,391 | 20,280 | 17,719 | 19,729 | 18,453 | 20,914 | 19,466 | ||||||
| Primary Income | Inflows | 58,416 | 56,282 | 14,177 | 14,901 | 14,437 | 14,901 | 13,614 | 13,889 | 13,972 | 14,807 | 14,162 | |||||
| Outflows | 88,726 | 82,546 | 22,875 | 22,829 | 22,280 | 20,742 | 20,400 | 21,984 | 20,901 | 19,261 | 21,446 | ||||||
| IFSC | Inflows | 38,277 | 37,370 | 9,306 | 9,852 | 9,870 | 9,249 | 9,072 | 9,438 | 9,438 | 9,422 | 10,254 | |||||
| Outflows | 42,053 | 38,565 | 10,448 | 10,640 | 10,749 | 10,216 | 9,444 | 9,845 | 9,790 | 9,486 | 10,566 | ||||||
| Non-IFSC | Inflows | 20,140 | 18,910 | 4,871 | 5,049 | 4,568 | 5,652 | 4,542 | 4,450 | 4,533 | 5,385 | 3,908 | |||||
| Outflows | 46,673 | 43,981 | 12,427 | 12,189 | 11,532 | 10,525 | 10,956 | 12,139 | 11,111 | 9,775 | 10,881 | ||||||
| Secondary Income | Inflows | 3,918 | 3,246 | 1,110 | 1,026 | 1,021 | 761 | 909 | 760 | 866 | 711 | 694 | |||||
| Outflows | 6,336 | 5,708 | 1,844 | 1,590 | 1,624 | 1,278 | 1,660 | 1,400 | 1,354 | 1,294 | 1,429 | ||||||
| IFSC4 | Inflows | 3,360 | 2,742 | 965 | 900 | 857 | 638 | 748 | 649 | 747 | 598 | 608 | |||||
| Outflows | 3,360 | 2,742 | 965 | 900 | 857 | 638 | 748 | 649 | 747 | 598 | 608 | ||||||
| Non-IFSC | Inflows | 558 | 503 | 145 | 126 | 165 | 122 | 161 | 110 | 119 | 113 | 86 | |||||
| Outflows | 2,976 | 2,965 | 879 | 690 | 767 | 640 | 912 | 751 | 606 | 696 | 822 | ||||||
| Balance on Current Account | 2,702 | 7,633 | -1,228 | 632 | 1,700 | 1,598 | 781 | 1,326 | 2,687 | 2,839 | 960 | ||||||
| Balance on Capital Account | 86 | 100 | 61 | 1 | 5 | 19 | 53 | 12 | 1 | 34 | 35 | ||||||
| Financial Account 5 | |||||||||||||||||
| Direct investment | Abroad | 11,897 | 18,057 | 2,623 | 3,677 | -136 | 5,733 | 14,182 | -2,037 | 4,004 | 1,908 | -547 | |||||
| In Ireland | 35,184 | 27,892 | 18,513 | 1,086 | 14,751 | 834 | 17,717 | 5,321 | 4,466 | 388 | -7,673 | ||||||
| IFSC | Abroad | 1,303 | 3,141 | 49 | -179 | 152 | 1,281 | 670 | 609 | 975 | 887 | -3,576 | |||||
| In Ireland | 9,605 | 17,148 | 10,692 | -6,149 | 10,536 | -5,474 | 9,163 | 4,453 | 3,201 | 331 | -6,038 | ||||||
| Non-IFSC | Abroad | 10,595 | 14,918 | 2,574 | 3,857 | -288 | 4,452 | 13,512 | -2,646 | 3,030 | 1,022 | 3,029 | |||||
| In Ireland | 25,579 | 10,746 | 7,821 | 7,235 | 4,215 | 6,308 | 8,554 | 868 | 1,266 | 58 | -1,635 | ||||||
| Portfolio investment | Assets | 74,522 | 100,923 | 61,838 | -28,591 | 19,655 | 21,620 | 57,692 | 1,550 | 19,809 | 21,872 | 32,667 | |||||
| Liabilities | 70,442 | 54,622 | 15,383 | 2,968 | 24,658 | 27,433 | 36,024 | -3,192 | 17,370 | 4,420 | 44,327 | ||||||
| IFSC | Assets | 81,322 | 96,211 | 61,140 | -23,599 | 22,051 | 21,730 | 57,599 | 918 | 18,638 | 19,056 | 34,948 | |||||
| Liabilities | 83,694 | 62,606 | 28,044 | 8,086 | 21,035 | 26,529 | 31,059 | 4,793 | 19,819 | 6,935 | 40,697 | ||||||
| Non-IFSC | Assets | -6,799 | 4,711 | 699 | -4,993 | -2,395 | -110 | 93 | 632 | 1,171 | 2,815 | -2,282 | |||||
| Liabilities | -13,252 | -7,984 | -12,661 | -5,118 | 3,623 | 904 | 4,965 | -7,985 | -2,449 | -2,515 | 3,629 | ||||||
| Other investment 6 | Assets | -82,026 | -51,470 | -61,206 | 14,939 | -1,650 | -34,109 | -7,658 | -7,687 | -6,103 | -30,022 | 33,526 | |||||
| Liabilities | -101,126 | -26,098 | -33,105 | -8,884 | -20,878 | -38,259 | 4,566 | -8,865 | -6,199 | -15,600 | 29,275 | ||||||
| IFSC | Assets | -61,851 | -38,464 | -50,882 | 12,885 | 7,156 | -31,010 | 522 | -3,263 | -2,629 | -33,094 | 40,276 | |||||
| Liabilities | -52,338 | -8,068 | -11,438 | -10,346 | -2,140 | -28,414 | 22,687 | -10,495 | -7,468 | -12,792 | 45,320 | ||||||
| Non-IFSC | Assets | -20,176 | -13,006 | -10,324 | 2,054 | -8,807 | -3,099 | -8,180 | -4,424 | -3,474 | 3,072 | -6,749 | |||||
| Liabilities | -48,787 | -18,029 | -21,667 | 1,462 | -18,738 | -9,844 | -18,120 | 1,630 | 1,269 | -2,808 | -16,045 | ||||||
| Reserve Assets | -12 | 10 | -12 | 6 | -1 | -5 | 0 | 1 | 4 | 5 | 0 | ||||||
| Balance on Financial Account | -120 | 11,103 | 2,453 | -5,140 | -663 | 3,230 | 5,909 | -1,437 | 2,077 | 4,554 | -283 | ||||||
| Net errors and omissions | -2,907 | 3,370 | 3,621 | -5,773 | -2,368 | 1,613 | 5,074 | -2,774 | -611 | 1,681 | -1,278 | ||||||
| 1From the start of 2000 new international financial service projects are no longer subject to the earlier certification and licensing procedures in operation for location in the IFSC and | |||||||||||||||||
| such projects can, therefore, locate anywhere in Ireland. Additions to existing IFSC projects, however, are still subject to the formal procedures. For statistical analysis purposes | |||||||||||||||||
| this table still shows the 'IFSC/non-IFSC' breakdown and the activities of all international financial service enterprises are covered under the IFSC heading. | |||||||||||||||||
| 2Revised | |||||||||||||||||
| 3Adjusted for balance of payments purposes. | |||||||||||||||||
| 4Secondary income flows to and from IFSC enterprises relate solely to non-life insurance transactions (see Background Notes). | |||||||||||||||||
| 5See footnote 1 on Table 2b. | |||||||||||||||||
| 6Includes 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. | |||||||||||||||||
| Table 4a Current and Capital Accounts showing geographical¹ detail | € million | ||||||||||||||
| 2012 2 | 2013 2 | 2012 2 | 2013 2 | 2014 | |||||||||||
| Item | Year | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Quarter 1 | |||||
| Current Account - Total | Inflows | 244,839 | 243,582 | 59,774 | 62,525 | 61,170 | 61,370 | 58,210 | 62,146 | 60,720 | 62,506 | 61,525 | |||
| Outflows | 242,137 | 235,948 | 61,002 | 61,893 | 59,470 | 59,772 | 57,428 | 60,820 | 58,033 | 59,667 | 60,565 | ||||
| Merchandise 3 | Exports | 96,976 | 91,763 | 24,565 | 24,725 | 24,435 | 23,251 | 22,467 | 24,092 | 23,172 | 22,032 | 24,320 | |||
| Imports | 54,571 | 55,580 | 14,630 | 13,119 | 13,379 | 13,443 | 13,796 | 13,798 | 13,589 | 14,397 | 14,174 | ||||
| EMU | Exports | 35,777 | 33,976 | 9,473 | 9,308 | 8,681 | 8,315 | 7,852 | 8,928 | 8,675 | 8,521 | 9,109 | |||
| Imports | 11,915 | 13,933 | 2,999 | 2,855 | 2,966 | 3,095 | 3,511 | 3,521 | 3,356 | 3,545 | 3,655 | ||||
| Non-EMU | Exports | 61,200 | 57,787 | 15,093 | 15,417 | 15,754 | 14,936 | 14,615 | 15,164 | 14,497 | 13,511 | 15,212 | |||
| Imports | 42,654 | 41,646 | 11,631 | 10,264 | 10,412 | 10,347 | 10,285 | 10,277 | 10,232 | 10,852 | 10,519 | ||||
| EU | Exports | 54,819 | 51,942 | 14,375 | 14,313 | 13,023 | 13,108 | 12,180 | 13,702 | 13,369 | 12,691 | 13,374 | |||
| Imports | 34,393 | 38,305 | 8,675 | 8,104 | 8,541 | 9,073 | 9,473 | 9,374 | 9,489 | 9,969 | 9,632 | ||||
| Non-EU | Exports | 42,158 | 39,821 | 10,190 | 10,412 | 11,413 | 10,143 | 10,287 | 10,390 | 9,803 | 9,341 | 10,946 | |||
| Imports | 20,178 | 17,275 | 5,955 | 5,016 | 4,837 | 4,370 | 4,324 | 4,424 | 4,099 | 4,428 | 4,542 | ||||
| Services | Exports | 85,527 | 92,292 | 19,922 | 21,873 | 21,276 | 22,456 | 21,220 | 23,406 | 22,710 | 24,956 | 22,349 | |||
| Imports | 92,504 | 92,113 | 21,653 | 24,355 | 22,187 | 24,309 | 21,571 | 23,638 | 22,190 | 24,714 | 23,515 | ||||
| EMU | Exports | 28,996 | 29,702 | 7,271 | 7,200 | 6,809 | 7,716 | 7,126 | 8,055 | 6,678 | 7,843 | 7,142 | |||
| Imports | 34,416 | 33,729 | 8,090 | 8,817 | 8,246 | 9,263 | 7,830 | 8,444 | 8,320 | 9,135 | 7,707 | ||||
| Non-EMU | Exports | 56,532 | 62,590 | 12,651 | 14,673 | 14,467 | 14,741 | 14,094 | 15,351 | 16,032 | 17,113 | 15,207 | |||
| Imports | 58,088 | 58,383 | 13,563 | 15,538 | 13,941 | 15,046 | 13,741 | 15,194 | 13,869 | 15,579 | 15,808 | ||||
| EU | Exports | 49,581 | 51,398 | 11,848 | 12,520 | 12,121 | 13,092 | 12,070 | 13,418 | 12,260 | 13,650 | 12,404 | |||
| Imports | 45,802 | 44,766 | 10,850 | 11,480 | 11,006 | 12,466 | 10,386 | 11,171 | 10,834 | 12,375 | 10,431 | ||||
| Non-EU | Exports | 35,946 | 40,894 | 8,074 | 9,353 | 9,155 | 9,364 | 9,150 | 9,988 | 10,450 | 11,306 | 9,945 | |||
| Imports | 46,703 | 47,346 | 10,803 | 12,875 | 11,181 | 11,844 | 11,186 | 12,466 | 11,355 | 12,339 | 13,084 | ||||
| Primary Income | Inflows | 58,416 | 56,282 | 14,177 | 14,901 | 14,437 | 14,901 | 13,614 | 13,889 | 13,972 | 14,807 | 14,162 | |||
| Outflows | 88,726 | 82,546 | 22,875 | 22,829 | 22,280 | 20,742 | 20,400 | 21,984 | 20,901 | 19,261 | 21,446 | ||||
| EMU | Inflows | 20,131 | 18,187 | 5,244 | 5,205 | 4,974 | 4,708 | 4,778 | 4,311 | 4,397 | 4,701 | 4,921 | |||
| Outflows | 30,809 | 27,286 | 8,642 | 7,584 | 7,304 | 7,279 | 6,536 | 7,077 | 7,104 | 6,569 | 7,316 | ||||
| Non-EMU | Inflows | 38,285 | 38,095 | 8,933 | 9,696 | 9,463 | 10,193 | 8,836 | 9,578 | 9,575 | 10,106 | 9,241 | |||
| Outflows | 57,917 | 55,260 | 14,233 | 15,245 | 14,976 | 13,463 | 13,865 | 14,907 | 13,797 | 12,691 | 14,130 | ||||
| EU | Inflows | 31,824 | 28,667 | 7,938 | 7,893 | 7,648 | 8,345 | 7,144 | 6,477 | 6,790 | 8,256 | 7,744 | |||
| Outflows | 47,626 | 43,503 | 12,994 | 11,927 | 11,747 | 10,958 | 10,805 | 11,181 | 11,209 | 10,308 | 11,836 | ||||
| Non-EU | Inflows | 26,592 | 27,615 | 6,240 | 7,007 | 6,789 | 6,556 | 6,470 | 7,412 | 7,182 | 6,551 | 6,418 | |||
| Outflows | 41,102 | 39,043 | 9,882 | 10,902 | 10,534 | 9,784 | 9,596 | 10,802 | 9,692 | 8,953 | 9,610 | ||||
| Secondary Income | Inflows | 3,918 | 3,246 | 1,110 | 1,026 | 1,021 | 761 | 909 | 760 | 866 | 711 | 694 | |||
| Outflows | 6,336 | 5,708 | 1,844 | 1,590 | 1,624 | 1,278 | 1,660 | 1,400 | 1,354 | 1,294 | 1,429 | ||||
| EMU | Inflows | 1,013 | 1,062 | 375 | 408 | 281 | -51 | 306 | 244 | 295 | 217 | 244 | |||
| Outflows | 1,105 | 1,148 | 398 | 431 | 304 | -28 | 327 | 266 | 317 | 238 | 265 | ||||
| Non-EMU | Inflows | 2,905 | 2,183 | 735 | 618 | 740 | 812 | 603 | 515 | 571 | 494 | 449 | |||
| Outflows | 5,232 | 4,561 | 1,446 | 1,159 | 1,320 | 1,307 | 1,333 | 1,135 | 1,037 | 1,056 | 1,165 | ||||
| EU | Inflows | 2,296 | 2,368 | 629 | 665 | 710 | 292 | 722 | 537 | 620 | 489 | 506 | |||
| Outflows | 4,069 | 4,429 | 1,241 | 1,061 | 1,098 | 669 | 1,369 | 977 | 1,055 | 1,028 | 1,196 | ||||
| Non-EU | Inflows | 1,622 | 877 | 481 | 361 | 312 | 468 | 187 | 222 | 246 | 222 | 188 | |||
| Outflows | 2,267 | 1,280 | 603 | 529 | 526 | 609 | 291 | 423 | 299 | 267 | 233 | ||||
| Balance on Current Account | 2,702 | 7,633 | -1,228 | 632 | 1,700 | 1,598 | 781 | 1,326 | 2,687 | 2,839 | 960 | ||||
| Balance on Capital Account | 86 | 100 | 61 | 1 | 5 | 19 | 53 | 12 | 1 | 34 | 35 | ||||
| 1The term ‘EMU’ means the area represented by the 18 Member States participating in Monetary Union since the enlargement of the Euro area on 1 January 2014 to include Latvia. With the | |||||||||||||||
| expansion of the EU on 1 July 2013 to include Croatia the term ‘EU’ relates to transactions between residents of Ireland and other residents of the EU28 area. For comparison purposes data | |||||||||||||||
| shown for 2012 and 2013 also relates to EMU 18 and EU 28 | |||||||||||||||
| 2Revised | |||||||||||||||
| 3Adjusted for balance of payments purposes | |||||||||||||||
| Table 4b Financial Account¹ showing geographical² detail | € million | ||||||||||||||
| 2012 3 | 2013 3 | 2012 3 | 2013 3 | 2014 | |||||||||||
| Item | Year | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Quarter 1 | |||||
| Direct Investment | Abroad | 11,897 | 18,057 | 2,623 | 3,677 | -136 | 5,733 | 14,182 | -2,037 | 4,004 | 1,908 | -547 | |||
| In Ireland | 35,184 | 27,892 | 18,513 | 1,086 | 14,751 | 834 | 17,717 | 5,321 | 4,466 | 388 | -7,673 | ||||
| EMU | Abroad | -2,519 | 7,259 | 2,271 | -1,529 | -2,764 | -497 | 3,955 | 271 | 2,183 | 850 | 624 | |||
| In Ireland | 19,728 | 14,066 | 6,440 | 1,439 | 4,579 | 7,270 | 5,731 | 5,904 | 2,673 | -242 | -4,302 | ||||
| Non-EMU | Abroad | 14,415 | 10,799 | 352 | 5,206 | 2,628 | 6,229 | 10,227 | -2,308 | 1,821 | 1,059 | -1,170 | |||
| In Ireland | 15,458 | 13,827 | 12,074 | -353 | 10,172 | -6,435 | 11,986 | -584 | 1,794 | 631 | -3,370 | ||||
| EU | Abroad | -162 | 12,823 | 2,221 | -1,244 | -2,370 | 1,231 | 6,817 | 174 | 3,373 | 2,459 | -2,151 | |||
| In Ireland | 22,783 | 14,264 | 13,077 | -2,988 | 10,305 | 2,389 | 10,136 | 5,177 | 3,077 | -4,126 | -7,506 | ||||
| Non-EU | Abroad | 12,060 | 5,234 | 402 | 4,922 | 2,235 | 4,501 | 7,366 | -2,212 | 631 | -551 | 1,604 | |||
| In Ireland | 12,401 | 13,628 | 5,436 | 4,074 | 4,446 | -1,555 | 7,581 | 143 | 1,389 | 4,515 | -167 | ||||
| Portfolio Investment | Assets | 74,522 | 100,923 | 61,838 | -28,591 | 19,655 | 21,620 | 57,692 | 1,550 | 19,809 | 21,872 | 32,667 | |||
| Liabilities | 70,442 | 54,622 | 15,383 | 2,968 | 24,658 | 27,433 | 36,024 | -3,192 | 17,370 | 4,420 | 44,327 | ||||
| EMU | Assets | 28,962 | 23,001 | 12,329 | -3,185 | 18,536 | 1,282 | 19,599 | 6,822 | -2,079 | -1,341 | 20,603 | |||
| Liabilities | -9,732 | 9,113 | -1,074 | -9,804 | 4,888 | -3,742 | 9,452 | 1,825 | 468 | -2,632 | 14,740 | ||||
| Non-EMU | Assets | 45,561 | 77,923 | 49,509 | -25,406 | 1,120 | 20,338 | 38,093 | -5,272 | 21,888 | 23,214 | 12,063 | |||
| Liabilities | 80,173 | 45,509 | 16,456 | 12,772 | 19,770 | 31,175 | 26,572 | -5,017 | 16,902 | 7,052 | 29,587 | ||||
| EU | Assets | 37,955 | 45,135 | 29,234 | -19,728 | 22,465 | 5,984 | 17,599 | 5,974 | 15,257 | 6,305 | 22,442 | |||
| Liabilities | -6,632 | 39,223 | -1,581 | -14,901 | 5,592 | 4,258 | 23,178 | 3,928 | 13,073 | -956 | 40,762 | ||||
| Non-EU | Assets | 36,568 | 55,790 | 32,605 | -8,864 | -2,809 | 15,636 | 40,094 | -4,424 | 4,552 | 15,568 | 10,224 | |||
| Liabilities | 77,072 | 15,400 | 16,963 | 17,869 | 19,066 | 23,174 | 12,847 | -7,120 | 4,297 | 5,376 | 3,565 | ||||
| Other Investment 4 | Assets | -82,026 | -51,470 | -61,206 | 14,939 | -1,650 | -34,109 | -7,658 | -7,687 | -6,103 | -30,022 | 33,526 | |||
| Liabilities | -101,126 | -26,098 | -33,105 | -8,884 | -20,878 | -38,259 | 4,566 | -8,865 | -6,199 | -15,600 | 29,275 | ||||
| EMU | Assets | -108,477 | -17,279 | -61,337 | -11,277 | -5,108 | -30,755 | 3,766 | -4,589 | -10,893 | -5,563 | 5,808 | |||
| Liabilities | -99,590 | -34,647 | -45,690 | 2,943 | -26,670 | -30,173 | -13,247 | -5,069 | -7,517 | -8,814 | 797 | ||||
| Non-EMU | Assets | 26,451 | -34,191 | 131 | 26,216 | 3,458 | -3,354 | -11,424 | -3,098 | 4,790 | -24,459 | 27,718 | |||
| Liabilities | -1,535 | 8,549 | 12,585 | -11,827 | 5,792 | -8,085 | 17,813 | -3,796 | 1,318 | -6,786 | 28,478 | ||||
| EU | Assets | -166,215 | -27,783 | -79,553 | -7,557 | -31,617 | -47,488 | -4,225 | -5,512 | -2,779 | -15,267 | 19,055 | |||
| Liabilities | -122,077 | -24,918 | -41,684 | -5,753 | -31,531 | -43,109 | -9,873 | -8,468 | 962 | -7,539 | 6,945 | ||||
| Non-EU | Assets | 84,189 | -23,687 | 18,348 | 22,495 | 29,967 | 13,379 | -3,433 | -2,175 | -3,324 | -14,755 | 14,472 | |||
| Liabilities | 20,950 | -1,180 | 8,578 | -3,131 | 10,653 | 4,850 | 14,439 | -397 | -7,161 | -8,061 | 22,330 | ||||
| Reserve Assets | -12 | 10 | -12 | 6 | -1 | -5 | 0 | 1 | 4 | 5 | 0 | ||||
| Balance on Financial Account | -120 | 11,103 | 2,453 | -5,140 | -663 | 3,230 | 5,909 | -1,437 | 2,077 | 4,554 | -283 | ||||
| Net errors and omissions | -2,907 | 3,370 | 3,621 | -5,773 | -2,368 | 1,613 | 5,074 | -2,774 | -611 | 1,681 | -1,278 | ||||
| 1See footnote 1 on Table 2b. | |||||||||||||||
| 2The term ‘EMU’ means the area represented by the 18 Member States participating in Monetary Union since the enlargement of the Euro area on 1 January 2014 to include Latvia. With the expansion | |||||||||||||||
| of the EU on 1 July 2013 to include Croatia the term ‘EU’ relates to transactions between residents of Ireland and other residents of the EU28 area. For comparison purposes data shown for 2012 | |||||||||||||||
| and 2013 also relates to EMU 18 and EU 28 | |||||||||||||||
| 3Revised | |||||||||||||||
| 4Includes 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. | |||||||||||||||
The balance of payments (BOP) is a statistical statement that summarises, for a specific time period, the economic transactions of the residents of an economy with the rest of the world.
The balance of payments presentation consists of three tables or accounts, the Current Account, the Capital Account and the Financial Account. The current account consists of trade in merchandise and services, as well as primary and secondary income account inflows and outflows. The capital account covers capital transfers and the acquisition and disposal of non-produced, non-financial assets. The financial account is concerned with transactions in foreign financial assets and liabilities, distinguishing the functional type of investment i.e. direct, portfolio and other investment (including transactions in financial derivatives) and reserve assets.
BOP transactions, in principle, should be recorded on an accruals basis using market valuation. In practice, the collection system (see below) is designed to adhere to this approach and, for the most part, the valuations reported are either market values or a close approximation.
For more detailed methodological information see http://www.cso.ie/en/surveysandmethodology/balanceofpayments/methodologydocuments/BOP Quarterly Statistical Compilation Methodology (PDF 239KB)
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Show Table 1 Summary of Current, Capital, Financial Account Balances and Net Errors and Omissions
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