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For more information on this release:
E-mail: bop@cso.ie John Sheridan (+353) 1 498 4258 Annette Hayes (+353) 1 498 4319
For general information on CSO statistics:
information@cso.ie (+353) 21 453 5000 On-line ISSN 2009-5201
CSO statistical release, , 11am

Balance of International Payments

Quarter 2 2015

   € million
Merchandise BalanceInvisibles BalanceCurrent Account BalanceCurrent Account Balance as % of GDP
Q2 201517,104-14,4002,7045.2
Q2 201411,248-9,3691,8794.1
Q1-Q2 201531,254-26,9264,3294.2
Q1-Q2 201420,366-19,1001,2661.4

Current account surplus of €2.7bn in 2nd Quarter

Balance of International Payments Q2 2015 Fig 1
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The Balance of Payments current account, a measure of Ireland’s financial flows with the rest of the world, had a surplus in the second quarter of 2015 of €2,704m. This is an increase from the €1,879m surplus in the second quarter of 2014, see Table 1. A surplus of €17,104m on merchandise was offset by a deficit of €14,400m on invisibles in the quarter. 

 

  

 

X-axis labelMerchandiseServicesPrimary IncomeSecondary IncomeBalance on Current account
Q1 20137.853-0.536-6.938-0.828-0.449
Q2 20139.79-0.531-7.848-0.6990.712
Q3 20139.9780.748-6.864-0.6633.198
Q4 20137.439-0.074-4.539-0.7322.095
Q1 20149.118-1.695-7.141-0.895-0.613
Q2 201411.248-1.839-6.926-0.6041.879
Q3 201411.431-0.574-7.191-0.5413.125
Q4 201410.5-3.518-3.845-0.6952.442
Q1 201514.15-3.876-7.804-0.8461.625
Q2 201517.104-5.195-8.539-0.6662.704

Other points of note are:

Current account (see Table 2a)

  • Compared with the second quarter of 2014, merchandise exports at €36,486m were up €7,951m while merchandise imports at €19,382m were up €2,095m.
  • Services exports at €29,603m were up €3,677m mainly due to increased computer services exports. Service imports increased by €7,033m to €34,798m driven by increases in both royalties/licences payments and research and development payments.
  • Investment income earned abroad of €16,408m increased by €1,347m compared with one year earlier while investment income payable to foreign investors at €24,876m increased by €2,898m.

 Financial account (see Tables 2b and 3)

  • Direct investment in Ireland increased by €11,921m in the second quarter of 2015, where an increase of €8,787 in equity and an increase of €6,851 in reinvested earnings was offset by a decrease in other capital of €3,717m. 
  • Within Portfolio investment, decreased investment in Irish equity of €13,760m was offset by increased investment in Irish Debt Instruments of €5,493m.
  • Other investment assets decreased by €28,560m in the second quarter of 2015 mainly due to a decrease in loans, currency and deposits assets of €18,549m. Other investment liabilities decreased by €5,161m in the quarter. 
X-axis labelDirect InvestmentPortfolio InvestmentOther InvestmentReserve AssetsBalance on Financial Account
Q1 2013-3.9168.8360.62705.546
Q2 2013-7.20210.992-5.7610.001-1.97
Q3 2013-0.2838.362-5.9480.0042.135
Q4 2013-0.55217.802-15.3540.0051.9
Q1 20144.91-19.10712.2740-1.923
Q2 2014-2.7514.0363.0230.0014.31
Q3 20141.726-11.1336.5870.002-2.819
Q4 20145.1616.073-3.980.1337.388
Q1 201539.061-69.1333.3860.2093.526
Q2 20157.84919.007-23.3990.3073.764
Table 1 Summary of Current, Capital and Financial Account Balances € million
Period     Balance on Current Account Balance on Capital Account Direct InvestmentPortfolio InvestmentOther2 InvestmentReserve AssetsBalance on Financial AccountNet errors and omissions
Merchandise1 Invisibles   
 ServicesPrimary IncomeSecondary IncomeTotal   
1998Year17,510-8,426-9,7761,319-16,883 627 840 -4,4228,466-7,4592,280-1,135-2,602
1999Year22,170-9,723-13,3981,177-21,944 226 560 -11,35914,342974-1,7462,2111,425
2000Year28,312-13,312-15,327994-27,645 667 1,182 -22,9575,3589,037142-8,420-10,269
2001Year31,464-12,412-17,762-1,075-31,249 215 779 -6,24125,158-19,183441175-819
2002Year36,982-13,619-21,910-1,116-36,645 337 588 -19,44437,979-19,425-343-1,233-2,158
2003Year32,954-10,903-20,035-1,303-32,241 713 445 -15,27039,977-22,751-1,770186-972
2004Year34,588-12,141-21,345-1,255-34,741 -153 355 23,095-14,287-12,170-1,177-4,539-4,741
2005Year32,184-13,655-22,372-1,769-37,795 -5,612 340 38,074-52,69815,364-1,472-7324,539
2006Year27,194-12,313-21,929-2,063-36,306 -9,112 299 16,634-8,135-16,635-87-8,223590
2007Year28,698-12,384-25,762-2,510-40,656 -11,959 115 -7547,283-20,08612-13,545-1,702
2008Year32,622-16,468-24,263-2,729-43,460 -10,837 119 24,16745,749-85,93278-15,938-5,220
2009Year38,752-15,823-26,991-2,948-45,762 -7,010 14 649-22,62619,433-79-2,6234,373
2010Year41,288-14,707-25,140-2,701-42,548 -1,260 91 -15,446-85,96590,883-5-10,533-9,363
2011Year41,257-9,955-30,651-2,660-43,266 -2,009 234 -17,775-26,90831,086-329-13,926-12,151
2012Year37,638-7,610-30,109-2,609-40,328 -2,688 86 -17,6633,82011,025-12-2,830-228
2013Year35,060-393-26,189-2,922-29,504 5,556 104 -11,95345,992-26,436107,6111,953
2014Year42,297-7,626-25,103-2,735-35,464 6,833 135 9,046-20,13117,9041366,956-13
                  
2009Quarter 1 9,692-4,189-7,113-960-12,263 -2,571 -3 1,1072,331-1,326-412,0714,646
 Quarter 210,140-3,835-7,566-748-12,149 -2,009 -1 -1,14815,776-24,67862-9,988-7,978
 Quarter 39,783-2,514-7,424-633-10,570 -787 -10 7,508-26,57021,337-32,2723,069
 Quarter 49,137-5,285-4,888-607-10,780 -1,643 28 -6,818-14,16324,100-973,0224,637
2010Quarter 1 10,235-3,079-7,527-879-11,485 -1,250 50 -4,547-19,82131,668-327,2688,468
 Quarter 210,555-3,606-7,516-590-11,712 -1,157 4 -2,9728,568-18,33819-12,723-11,570
 Quarter 311,985-3,358-6,602-704-10,664 1,321 14 1,35419,581-25,74576-4,734-6,069
 Quarter 48,513-4,664-3,495-528-8,686 -174 23 -9,281-94,293103,299-68-343-192
2011Quarter 1 10,624-3,259-7,728-841-11,829 -1,205 24 -8,203-7,06311,286-65-4,045-2,864
 Quarter 29,576-1,875-8,328-513-10,716 -1,140 1 -7,373-22,34427,15729-2,531-1,393
 Quarter 311,547-1,994-8,022-641-10,657 890 -1 -6,62219,456-16,652-24-3,842-4,731
 Quarter 49,510-2,827-6,573-664-10,064 -554 210 4,423-16,9579,295-269-3,508-3,164
2012Quarter 1 9,109-1,863-8,616-814-11,293 -2,184 61-12,55146,421-32,626-121,2323,355
 Quarter 2 9,447-2,724-7,887-603-11,214 -1,766 14,073-31,82821,0096-6,740-4,975
 Quarter 310,256-1,047-7,800-643-9,490 767 5-13,439-5,03817,833-1-645-1,417
 Quarter 48,826-1,976-5,806-549-8,331 495 194,254-5,7354,809-53,3232,809
2013Quarter 1 7,853-536-6,938-828-8,302 -449 53-3,9168,83662705,5465,943
 Quarter 2 9,790-531-7,848-699-9,078 712 16-7,20210,992-5,7611-1,970-2,697
 Quarter 3 9,978748-6,864-663-6,779 3,198 1-2838,362-5,94842,135-1,065
 Quarter 47,439-74-4,539-732-5,345 2,095 34-55217,802-15,35451,900-228
2014Quarter 19,118-1,695-7,141-895-9,731 -613 354,910-19,10712,2740-1,923-1,345
 Quarter 211,248-1,839-6,926-604-9,369 1,879 9-2,7514,0363,02314,3102,422
 Quarter 311,431-574-7,191-541-8,306 3,125 771,726-11,1336,5872-2,819-6,021
 Quarter 410,500-3,518-3,845-695-8,058 2,442 145,1616,073-3,9801337,3884,931
2015Quarter 114,150-3,876-7,804-846-12,526 1,625 3539,061-69,13033,3862093,5261,866
 Quarter 217,104-5,195-8,539-666-14,400 2,704 127,84919,007-23,3993073,7641,048
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.
                  
Table 2a Current and Capital Accounts    € million
20132014 20142015
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2
Current Account  
Merchandise 1Exports98,731113,20725,86728,53529,05829,747 32,78336,486
Imports63,67170,91016,74917,28717,62719,247 18,63319,382
          
  of which: Merchanting (net export)Exports3,7153,641 8508411,265685 872870
          
ServicesExports92,703101,75022,41725,92626,35327,054 25,82229,603
Imports93,096109,37624,11227,76526,92730,572 29,69834,798
Repairs and ProcessingExports1,4401,251 290412281268 191291
 Imports9821,153 264320306263 194329
  TransportExports4,8275,1937461,4031,9761,068 8421,524
Imports1,7151,842455444443500 498540
  Tourism and Travel 2Exports3,3703,6565581,0361,327735 6131,228
Imports4,6694,5617641,1801,627990 8501,201
  InsuranceExports8,9649,2542,2982,3782,2102,368 2,5962,768
Imports5,8555,9701,4161,5621,3961,596 1,7571,846
  Financial servicesExports8,0698,3351,9022,1072,0852,241 2,2482,514
Imports5,1036,6621,5701,6491,8201,623 1,5101,668
  Royalties/LicencesExports4,3884,7761,1151,1021,2561,303 1,1941,488
Imports36,41148,48210,57012,09111,92813,893 14,40115,530
  CommunicationsExports522567139142141145 142141
Imports1,049979247255241236 225246
  Computer services 3Exports42,05647,91710,57812,57211,06613,701 12,52414,166
Imports482646153167152174 142151
  Business servicesExports17,37019,0954,4304,4515,5324,682 5,1384,996
Imports36,55938,8168,60610,0328,94911,229 10,05313,222
     Research and developmentExports1,0861,749288308843310 451325
 Imports5,8466,6151,4661,5451,6571,947 2,0943,732
     Operational leasingExports7,6967,8431,8541,9072,0392,043 2,1422,303
 Imports1,4491,269279332331327 334343
     Misc. business services 4Exports8,5899,5042,2882,2372,6502,329 2,5452,368
 Imports29,26430,9336,8618,1566,9618,955 7,6269,147
  Other services n.e.s.Exports1,6971,710360325481544 335486
Imports26926666666668 6666
           
Primary IncomeInflows56,46862,85313,87515,28216,43117,265 17,12416,584
 Outflows82,65787,95621,01622,20823,62221,110 24,92725,123
  Compensation of EmployeesInflows544541136138136131 136136
Outflows685699171177174177 161170
  Investment IncomeInflows54,47160,99413,69315,06116,26615,974 16,96516,408
Outflows81,73687,00520,79121,97823,39020,846 24,69424,876
      Direct investment incomeInflows18,78619,4594,1414,7175,1955,406 5,2415,921
Outflows41,71440,32610,4809,99711,2258,624 11,64212,147
          Income on equityInflows15,56216,2653,2293,9114,4574,668 4,3095,012
Outflows36,45435,1709,3008,7319,9057,234 10,35610,694
              Dividends & distributed Inflows3,9562,410 1016601691,480 292*
                  branch profitsOutflows17,42813,659 4,0203,3283,0613,250 3,7293,843
              Reinvested earningsInflows11,60313,855 3,1293,2514,2873,188 4,017*
Outflows19,02621,511 5,2805,4036,8443,984 6,6276,851
         Income on debtInflows3,2263,196912807738739 932909
Outflows5,2585,1571,1811,2661,3201,390 1,2861,452
      Portfolio investment incomeInflows25,62032,8167,4048,1828,9268,304 9,1228,408
Outflows30,25237,7158,2409,7519,8679,857 10,51010,674
          Income on equityInflows6,9708,9881,8012,4082,5582,221 2,7332,272
 Outflows20,21528,8006,1357,3447,6547,667 8,4468,533
         Income on debtInflows18,64923,8285,6035,7746,3686,083 6,3896,136
Outflows10,0378,9152,1062,4072,2122,190 2,0642,141
      Other investment incomeInflows10,0648,7172,1482,1622,1442,263 2,6022,079
Outflows9,7708,9642,0712,2302,2982,365 2,5422,055
Other primary incomeInflows1,4511,3184683291,160 2240
Outflows23425354535987 7278
           
Secondary IncomeInflows3,2002,861676673746766 970876
 Outflows6,1225,5971,5721,2781,2871,460 1,8151,542
            
Current Account - TotalInflows251,100280,67262,83570,41772,58874,832 76,69883,548
Outflows245,546273,83963,44968,53869,46372,389 75,07380,845
           
Current Account Balance 5,5566,833-6131,8793,1252,442 1,6252,704
            
Capital Account Balance 1041353597714 3512
            
Memorandum Item:      
 Government IncomeInflows325128 35284025 1662
 Outflows4,6904,692 1,1551,1851,1811,171 1,1211,080
1Adjusted for balance of payments purposes
2Under the credit item, passenger fare receipts of resident carriers from foreign visitors are excluded; such receipts are included under transport
credits-see Background Notes.
3Covers exports and imports of software that was not incorporated as part of computer hardware or physical media but separately transmitted by
 electronic means. The value of sales and purchases of additional software licences is also included.
4Covers mainly advertising and inter-affiliate management charges.
Table 2b Financial Account¹  € million
2013201420142015
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2
     
Direct Investment Abroad21,86332,511 1,4795,66917,7967,567 47,91219,770
In Ireland33,81623,465 -3,4318,42016,0702,406 8,85111,921
           
    EquityAbroad10,059-656-4,610-8,63413,141-553 45,501*
 In Ireland11,52615,705-1,5629,3246,5131,430 2,0868,787
    Reinvested EarningsAbroad11,60313,8553,1293,2514,2873,188 4,017*
In Ireland19,02621,5115,2805,4036,8443,984 6,6276,851
    Other CapitalAbroad19919,313 2,96111,0523684,932 -1,6051,949
 In Ireland3,263-13,749 -7,149-6,3062,714-3,008 138-3,717
            
Portfolio InvestmentAssets98,516152,773 47,26531,47440,36733,667 46,99210,740
Liabilities52,525172,904 66,37227,43851,50027,594 116,122-8,267
           
    EquityAssets61,81368,414 12,76618,89016,88319,875 14,64722,238
 Liabilities81,892171,547 65,43827,53559,19419,380 103,185-13,760
     Debt InstrumentsAssets36,70484,359 34,49912,58423,48413,792 32,345-11,498
 Liabilities-29,3671,357 934-97-7,6948,214 12,9375,493
        Bonds and notes Assets41,97717,130-5724,5946,3656,743 5,25514,369
 Liabilities-21,883649166977-8,7708,276 12,4815,760
        Money market instruments Assets-5,27367,22935,0707,99017,1197,050 27,090-25,867
 Liabilities-7,484709 768-1,0741,076-61 456-267
            
Other InvestmentAssets-49,32787,530 40,2832,60514,10430,538 38,514-28,560
Liabilities-22,89169,625 28,009-4197,51734,518 5,128-5,161
           
     Loans, currency and depositsAssets-41,41223,886 24,772-1,938-1,6182,670 19,886-18,549
 Liabilities-15,472-7,057 2,427-5,687-7,7013,904 -30,328-12,175
     Other 2Assets-7,91563,644 15,5124,54315,72127,868 18,627-10,011
 Liabilities-7,41976,681 25,5825,26815,21730,614 35,4567,015
            
Reserve Assets 10136 012133 209307
           
     Monetary gold 00 010-1 210
     Special drawing rights 100 0000 590
     Reserve position in the IMF 0-1 000-1 230
     Foreign exchange  00 002-2 1-1
     Other 0137 000137 105308
            
Balance on Financial Account 7,6116,956 -1,9234,310-2,8197,388 3,5263,764
            
Net errors and omissions 1,953-13 -1,3452,422-6,0214,931 1,8661,048
Memorandum Item:          
Government financialAssets159-6,500 -1,411-2,041-175-2,873 -760-682
  transactionsLiabilities4,0682,651 3,5351,8881,269-4,041 7441,356
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'.
2Includes 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 3 Current, Capital and Financial Accounts showing IFSC¹ and Non–IFSC activity € million
 20132014 20142015
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2
Current Account - TotalInflows251,100280,67262,83570,41772,58874,832 76,69883,548
 Outflows245,546273,83963,44968,53869,46372,389 75,07380,845
           
Merchandise 2Exports98,731113,20725,86728,53529,05829,747 32,78336,486
Imports63,67170,91016,74917,28717,62719,247 18,63319,382
          
ServicesExports92,703101,75022,41725,92626,35327,054 25,82229,603
Imports93,096109,37624,11227,76526,92730,572 29,69834,798
          
        IFSCExports25,48327,0016,5146,8156,7956,877 7,1737,909
 Imports14,79816,5203,9464,2634,1494,162 4,2544,518
        Non-IFSCExports67,22074,75115,90319,11219,55820,178 18,64921,694
Imports78,29992,85720,16523,50322,77826,411 25,44430,281
          
Primary IncomeInflows56,46862,85313,87515,28216,43117,265 17,12416,584
Outflows82,65787,95621,01622,20823,62221,110 24,92725,123
          
        IFSCInflows36,49742,2959,76510,21611,30711,007 12,13510,789
 Outflows37,59344,50410,21110,91511,71011,668 12,72311,200
        Non-IFSCInflows19,96920,5594,1105,0665,1256,258 4,9885,794
Outflows45,06443,45210,80511,29311,9129,442 12,20513,923
          
Secondary IncomeInflows3,2002,861676673746766 970876
Outflows6,1225,5971,5721,2781,2871,460 1,8151,542
          
        IFSC 3Inflows2,6972,369571557618623 735736
 Outflows2,6972,369571557618623 735736
        Non-IFSCInflows503491106116127142 235140
 Outflows3,4253,2271,001720669837 1,081806
           
Balance on Current Account 5,5566,833-6131,8793,1252,442 1,6252,704
           
Balance on Capital Account 1041353597714 3512
           
Financial Account 4           
Direct investmentAbroad21,86332,5111,4795,66917,7967,567 47,91219,770
 In Ireland33,81623,465-3,4318,42016,0702,406 8,85111,921
           
        IFSCAbroad3,046-3,235-3,667-147209370 1,7493,985
 In Ireland17,1345,119-5,7441,42712,128-2,692 4,9853,513
        Non-IFSCAbroad18,81635,7475,1465,81717,5877,197 46,16415,785
 In Ireland16,68118,3462,3136,9933,9425,098 3,8678,408
           
Portfolio investmentAssets98,516152,77347,26531,47440,36733,667 46,99210,740
 Liabilities52,525172,90466,37227,43851,50027,594 116,122-8,267
           
        IFSCAssets93,884145,65149,53626,61739,58829,910 47,41111,130
 Liabilities60,875143,76562,63027,87731,57921,679 69,316-13,373
        Non-IFSCAssets4,6337,124-2,2714,8587793,758 -419-390
 Liabilities-8,35029,1393,742-43919,9215,915 46,8075,106
           
Other investment 5Assets-49,32787,53040,2832,60514,10430,538 38,514-28,560
 Liabilities-22,89169,62528,009-4197,51734,518 5,128-5,161
           
        IFSCAssets-35,78095,13145,9584,50515,47129,197 38,925-30,352
 Liabilities-4,815112,09443,03110,38715,02843,648 17,212532
        Non-IFSCAssets-13,547-7,601-5,675-1,900-1,3671,341 -4121,792
 Liabilities-18,075-42,468-15,022-10,805-7,511-9,130 -12,085-5,692
           
Reserve Assets 10136012133 209307
           
Balance on Financial Account 7,6116,956 -1,9234,310-2,8197,388 3,5263,764
Net errors and omissions 1,953-13 -1,3452,422-6,0214,931 1,8661,048
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.
2Adjusted for balance of payments purposes.
3Secondary income flows to and from IFSC enterprises relate solely to non-life insurance transactions (see Background Notes).
4See footnote 1 on Table 2b.
5Includes 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
 20132014 20142015
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2
     
Current Account - TotalInflows251,100280,672 62,83570,41772,58874,832 76,69883,548
 Outflows245,546273,839 63,44968,53869,46372,389 75,07380,845
            
  Merchandise 2Exports98,731113,20725,86728,53529,05829,747 32,78336,486
 Imports63,67170,91016,74917,28717,62719,247 18,63319,382
      EMUExports38,18640,4169,1489,52210,66011,086 11,87613,533
 Imports17,95521,3225,1435,2435,1985,738 5,6206,088
      Non-EMUExports60,54572,79116,71919,01318,39818,661 20,90722,953
 Imports45,71749,58811,60612,04412,42913,509 13,01313,294
       EU Exports58,46762,35914,32915,12316,55616,351 17,99719,748
 Imports44,02248,77411,68112,00711,83313,253 12,52513,339
      Non-EU Exports40,26350,84611,53813,41112,50213,395 14,78716,738
Imports19,64922,1365,0695,2805,7945,993 6,1086,042
           
  ServicesExports92,703101,75022,41725,92626,35327,054 25,82229,603
 Imports93,096109,37624,11227,76526,92730,572 29,69834,798
      EMUExports28,74632,3927,0538,5768,2138,550 8,1439,047
 Imports33,48533,8457,6688,9798,4258,773 8,14010,437
      Non-EMUExports63,95769,35915,36417,35018,14018,505 17,67920,556
 Imports59,61275,53216,44418,78618,50221,800 21,55824,361
       EU Exports51,58958,28212,45515,33515,08915,403 14,12716,615
 Imports44,64246,56610,49312,29011,59112,192 11,25813,615
      Non-EU Exports41,11543,4709,96210,59111,26511,652 11,69412,988
Imports48,45462,81013,61815,47615,33618,380 18,43921,183
            
Primary IncomeInflows56,46862,85313,87515,28216,43117,265 17,12416,584
 Outflows82,65787,95621,01622,20823,62221,110 24,92725,123
      EMUInflows20,23623,0525,3235,8115,8776,041 5,8246,225
 Outflows31,61631,6538,0947,1278,7867,646 9,2149,495
      Non-EMUInflows36,23139,8018,5529,47110,55411,224 11,30010,359
 Outflows51,03956,30412,92215,08114,83613,465 15,71415,628
       EU Inflows31,32236,8278,2259,0569,31710,229 9,4149,695
 Outflows46,46151,32712,20612,16814,10012,853 14,93514,572
      Non-EU Inflows25,14526,0275,6516,2267,1147,036 7,7106,889
 Outflows36,19636,6308,81010,0409,5228,258 9,99210,551
            
Secondary IncomeInflows3,2002,861676673746766 970876
 Outflows6,1225,5971,5721,2781,2871,460 1,8151,542
      EMUInflows1,0721,033253211291278 276306
 Outflows1,1581,117274232312299 305329
      Non-EMUInflows2,1291,829424462455488 693569
 Outflows4,9654,4791,2981,0459751,161 1,5101,212
       EU Inflows2,3592,063499440569555 712729
 Outflows4,6044,2211,2669369361,083 1,4481,203
      Non-EU Inflows841797177233177210 258147
 Outflows1,5181,375306341351377 367338
            
Balance on Current Account 5,5566,833-6131,8793,1252,442 1,6252,704
            
Balance on Capital Account 1041353597714 3512
           
1The term ‘EMU’ means the area represented by the 19 Member States participating in Monetary Union since the enlargement of the Euro area on
1 January 2015 to include Lithuania. The term ‘EU’ relates to transactions between residents of Ireland and other residents of the EU28 area.
 All data shown on this table relates to EMU19 and EU28.
2Adjusted for balance of payments purposes
Table 4b Financial Account¹ showing geographical² detail€ million
  20132014 2014 2015
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2
    
Direct InvestmentAbroad21,86332,5111,4795,66917,7967,567 47,91219,770
 In Ireland33,81623,465-3,4318,42016,0702,406 8,85111,921
           
      EMUAbroad4,45040,2601,14388617,73020,501 42,7153,270
 In Ireland18,87116,684-3,2025,0537,9856,848 -2,446-147
      Non-EMUAbroad17,412-7,7493364,78366-12,934 5,19716,500
 In Ireland14,9456,781-2293,3678,085-4,442 11,29712,069
       EU Abroad21,18139,579-1,551-1,83419,68223,282 42,1383,653
 In Ireland20,00513,625-5,6546,4145,7617,104 -1,959-568
      Non-EU Abroad680-7,0683,0307,503-1,886-15,715 5,77516,118
 In Ireland13,8119,8412,2232,00610,310-4,698 10,81012,489
           
Portfolio InvestmentAssets98,516152,77347,26531,47440,36733,667 46,99210,740
 Liabilities52,525172,90466,37227,43851,50027,594 116,122-8,267
           
      EMUAssets19,55433,49223,1364,5845,73636 26,111-1,467
 Liabilities7,66952,38416,20912,63910,64812,888 22,16710,438
      Non-EMUAssets78,962119,28224,12926,89134,63133,631 20,88112,207
 Liabilities44,856120,52150,16314,79940,85214,707 93,955-18,705
       EU Assets41,71472,50927,18522,8639,49512,966 34,589-7,421
 Liabilities37,620123,68439,05439,97128,71815,941 67,906-17,057
      Non-EU Assets56,80280,26420,0808,61130,87220,701 12,40318,161
 Liabilities14,90649,22127,318-12,53222,78211,653 48,2168,790
            
Other Investment 3Assets-49,32787,53040,2832,60514,10430,538 38,514-28,560
 Liabilities-22,89169,62528,009-4197,51734,518 5,128-5,161
           
      EMUAssets-13,75524,6406,05322,444191-4,048 14,160-8,836
 Liabilities-32,676-2,7809,089-5,763-8,7422,636 2,810-8,698
      Non-EMUAssets-35,57262,89134,231-19,83913,91334,586 24,353-19,724
 Liabilities9,78572,40518,9205,34516,25831,882 2,3183,538
       EU Assets-24,52145,79315,6678,6109,03512,481 7,524-14,601
 Liabilities-22,43741,35716,867-5,830-1,17131,491 9,795-13,521
      Non-EU Assets-24,80541,73824,617-6,0055,06918,057 30,989-13,959
 Liabilities-45228,26911,1425,4128,6883,027 -4,6678,361
          
Reserve Assets 10136012133 209307
           
Balance on Financial Account 7,6116,956-1,9234,310-2,8197,388 3,5263,764
            
Net errors and omissions 1,953-13 -1,3452,422-6,0214,931 1,8661,048
1See footnote 1 on Table 2b.
2The term ‘EMU’ means the area represented by the 19 Member States participating in Monetary Union since the enlargement of the Euro area on 1 January
2015 to include Lithuania. The term ‘EU’ relates to transactions between residents of Ireland and other residents of the EU28 area. All data shown on this
table relates to EMU19 and EU28.
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.

Background Notes

Definition 

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 the http://www.cso.ie/en/surveysandmethodology/balanceofpayments/methodologydocuments/BOP Quarterly Statistical Compilation Methodology (PDF 239KB)

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