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E-mail: bop@cso.ie Christopher Sibley (+353) 1 498 4305 Annette Hayes (+353) 1 498 4319
For general information on CSO statistics:
information@cso.ie (+353) 21 453 5000 Visit StatCentral.ie, the portal to Ireland's official statistics On-line ISSN 2009-5201
CSO statistical release, , 11am

Balance of International Payments

Quarter 4 and Year 2014

   € million
Merchandise BalanceInvisibles BalanceCurrent Account BalanceCurrent Account Balance as % of GDP
Q4 201411,212-7,4943,7187.7
Q4 20137,635-4,7952,8396.3
Q1-Q4 201445,896-34,42711,4676.2
Q1-Q4 201336,182-28,5487,6334.4

Current account surplus of €3.7bn in 4th Quarter

Balance of International Payments Q4 2014 Figure 1
go to full release

The Balance of Payments current account surplus in the fourth quarter of 2014 was €3,718m. The current account surplus for 2014 was €11,467m, an increase of €3,834m on 2013. The annual services surplus decreased by €6,364m while the merchandise surplus increased €9,714m and income outflows were €485m lower than 2013 (see Table 1)

 

 

  

 

X-axis labelMerchandiseServicesPrimary Income
Q1 20138.671-0.352-6.786
Q2 201310.293-0.232-8.095
Q3 20139.5830.52-6.929
Q4 20137.6350.242-4.454
Q1 201410.146-1.166-7.284
Q2 201412.179-1.006-7.696
Q3 201412.359-0.839-7.266
Q4 201411.212-3.175-3.744

Other points of note in the Quarter 4 2014 results are:

Current account (see Table 2a)

  • Compared with the fourth quarter of 2013, merchandise exports at €27,984m increased by €5,952m while merchandise imports at €16,772m increased by €2,375m.
  • Service exports at €26,947m increased by €1,991m compared to the fourth quarter of 2013, mainly due to higher computer services exports. Service imports at €30,122m were up €5,408m, driven by increases in royalties/licences payments of €3,732m.
  • Investment income earned abroad at €16,088m, increased by €2,654m compared with one year earlier while investment income payable to foreign investors at €20,852m increased by €1,867m.

Financial account (see Tables 2b and 3

  • Direct investment in Ireland decreased by €69m in the fourth quarter of 2014. An increase of €2,740m in reinvested earnings and an increase in equity of €691m in Ireland were offset by a decrease in other capital of €3,500m. Direct investment abroad increased by €4,218m in the quarter with an increase of €7,679m in other capital.
  • Portfolio investment in foreign assets increased €30,302m in the quarter. Investment in foreign equity increased €19,203m while investment in foreign debt instruments increased €11,099m. Investment of €21,755m in Irish equity was partly offset by a decrease of €107m in debt instruments in the quarter.
  • Other investment assets increased by €31,564m in the fourth quarter of 2014 mainly due to the activities of IFSC enterprises with an increase of €30,292m while non-IFSC enterprises increased by €1,272m. The corresponding liabilities increased by €40,675m in the quarter.
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
2000Year27,266-13,312-15,327994-27,645 -379 1,182 -22,9575,3589,037142-8,420-9,223
2001Year30,494-12,412-18,340-497-31,249 -755 779 -6,24125,158-19,039441319295
2002Year35,442-13,242-22,806-720-36,768 -1,326 588 -19,44437,979-19,263-343-1,071-333
2003Year32,604-10,590-21,450-890-32,930 -326 445 -15,27039,977-21,567-1,7701,3701,251
2004Year33,903-11,906-21,973-967-34,846 -942 355 23,095-14,287-11,430-1,177-3,799-3,212
2005Year32,236-12,391-24,270-1,384-38,045 -5,809 340 36,992-52,69817,665-1,4724875,956
2006Year30,332-11,300-23,813-1,746-36,859 -6,526 299 16,634-8,135-13,182-87-4,7701,457
2007Year28,627-9,043-27,910-2,210-39,163 -10,535 115 -2,6027,283-16,74412-12,051-1,631
2008Year31,179-14,875-24,664-2,328-41,867 -10,689 119 24,16745,749-86,12878-16,134-5,564
2009Year39,864-15,049-27,154-2,785-44,988 -5,125 14 649-22,62623,116-791,0606,171
2010Year42,877-14,091-25,334-2,507-41,932 945 91 -15,446-85,96594,140-5-7,276-8,312
2011Year43,321-8,634-30,844-2,466-41,945 1,377 234 -17,775-26,90834,937-329-10,075-11,686
2012Year42,405-6,978-30,309-2,417-39,704 2,702 86 -23,2884,08019,101-12-120-2,907
2013Year36,182178-26,264-2,462-28,548 7,633 100 -9,83546,301-25,3741011,1033,370
2014Year45,896-6,186-25,990-2,251-34,427 11,467 135 18,1634,238-11,11313611,423-180
                  
2008Quarter 1 6,303-3,361-6,291-773-10,425 -4,123 42 3,191-8,182-3,140-74-8,205-4,124
 Quarter 27,699-3,258-6,603-531-10,392 -2,693 66 3,0775,541-18,41446-9,749-7,122
 Quarter 37,696-3,137-7,219-462-10,818 -3,121 0 9,27612,083-21,83539-4372,684
 Quarter 49,481-5,119-4,551-562-10,232 -752 11 8,62336,307-42,739672,2593,000
2009Quarter 1 9,688-3,996-7,230-844-12,070 -2,382 -3 1,1072,331-429-412,9695,354
 Quarter 210,715-3,635-7,560-754-11,949 -1,234 -1 -1,14815,776-23,34562-8,654-7,419
 Quarter 310,019-2,317-7,466-590-10,373 -354 -10 7,508-26,57022,020-32,9543,318
 Quarter 49,442-5,101-4,898-597-10,596 -1,155 28 -6,818-14,16324,870-973,7914,918
2010Quarter 1 10,296-2,922-7,603-803-11,328 -1,032 50 -4,547-19,82132,131-327,7318,713
 Quarter 211,372-3,435-7,545-561-11,541 -169 4 -2,9728,568-16,77319-11,158-10,993
 Quarter 311,880-3,204-6,649-657-10,510 1,370 14 1,35419,581-25,63576-4,624-6,008
 Quarter 49,329-4,530-3,536-486-8,552 777 23 -9,281-94,293104,417-68775-25
2011Quarter 1 10,172-2,926-7,800-770-11,496 -1,323 24 -8,203-7,06311,577-65-3,754-2,455
 Quarter 210,931-1,532-8,358-483-10,373 557 1 -7,373-22,34428,92829-760-1,318
 Quarter 311,854-1,665-8,070-593-10,328 1,526 -1 -6,62219,456-15,888-24-3,078-4,603
 Quarter 410,364-2,511-6,617-620-9,748 616 210 4,423-16,95710,320-269-2,483-3,309
2012Quarter 1 9,935-1,732-8,698-734-11,164 -1,228 61-15,89046,456-28,100-122,4533,621
 Quarter 2 11,606-2,482-7,928-564-10,974 632 12,591-31,56023,8236-5,140-5,773
 Quarter 311,056-911-7,843-602-9,356 1,700 5-14,887-5,00319,228-1-663-2,368
 Quarter 49,808-1,853-5,840-517-8,210 1,598 194,898-5,8134,150-53,2301,613
2013Quarter 1 8,671-352-6,786-752-7,890 781 53-3,53521,668-12,22505,9095,074
 Quarter 2 10,293-232-8,095-640-8,967 1,326 12-7,3584,7421,1781-1,437-2,774
 Quarter 3 9,583520-6,929-487-6,896 2,687 1-4622,4399642,077-611
 Quarter 47,635242-4,454-583-4,795 2,839 341,52017,452-14,42354,5541,681
2014Quarter 110,146-1,166-7,284-735-9,185 960 357,126-11,6604,2520-283-1,278
 Quarter 212,179-1,006-7,696-535-9,237 2,942 9-8598,4681,15318,7635,811
 Quarter 312,359-839-7,266-406-8,511 3,847 777,609-1,225-7,4072-1,021-4,945
 Quarter 411,212-3,175-3,744-575-7,494 3,718 144,2878,655-9,1111333,964232
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 2013 2014
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2Quarter 3Quarter 4
Current Account  
Merchandise 1Exports91,763106,81922,46724,09223,17222,032 24,32027,19627,31927,984
Imports55,58060,92413,79613,79813,58914,397 14,17415,01714,96116,772
            
  of which: Merchanting (net export)Exports3,7513,556 7999659441,043 8508281,222656
            
ServicesExports92,292100,97221,22023,40622,71024,956 22,34925,92625,75026,947
Imports92,113107,15821,57123,63822,19024,714 23,51526,93226,58930,122
Repairs and ProcessingExports1,4061,444 362329356359 346467338293
 Imports726762 223151187165 138228219177
  TransportExports4,3964,4527771,2421,420957 7461,2961,440970
Imports1,6401,858421414402403 458448449503
  Tourism and Travel 2Exports3,3703,6635669041,211689 5581,0431,327735
Imports4,6694,6958711,1431,706949 7881,2161,6791,012
  InsuranceExports9,0219,3562,3352,2602,0902,336 2,2992,4142,2402,403
Imports5,9226,4301,6501,5511,3491,372 1,4511,6991,5531,727
  Financial servicesExports8,1578,4941,9382,0962,0552,068 1,9452,1532,1342,262
Imports5,1726,7321,2531,3021,2981,319 1,5841,6651,8411,642
  Royalties/LicencesExports4,1404,0209621,1409401,098 9799629761,103
Imports35,79646,5328,7138,9538,4179,713 10,28111,27411,53213,445
  CommunicationsExports591582152157133149 143146144149
Imports1,0761,026214295300267 256267254249
  Computer services 3Exports38,95642,9439,35410,0018,82510,776 9,52911,4349,82912,151
Imports346282100828381 69766968
  Business servicesExports20,57524,3294,4134,9175,3175,928 5,4385,6966,8596,336
Imports36,55038,6358,0719,6948,39410,391 8,43810,0118,94011,246
     Research and developmentExports1,0601,760230256275299 288313848311
 Imports5,1815,8151,1441,0981,4021,537 1,3191,3931,4771,626
     Operational leasingExports7,4977,8221,8041,8581,9531,882 1,8461,9072,0212,048
 Imports1,3931,304357392337307 289339339337
     Misc. business services 4Exports12,01814,7482,3792,8033,0893,747 3,3043,4763,9903,978
 Imports29,97631,5176,5708,2046,6558,547 6,8308,2797,1249,284
  Other services n.e.s.Exports1,6811,691361360363597 366316464545
Imports21720654545554 53475353
             
Primary IncomeInflows56,28263,38413,61413,88913,97214,807 14,16215,43516,40817,379
 Outflows82,54689,37420,40021,98420,90119,261 21,44623,13123,67421,123
  Compensation of EmployeesInflows544541136136136136 136138136131
Outflows706723167179179181 175184180184
  Investment IncomeInflows54,28761,52413,41613,71313,72413,434 13,98015,21416,24216,088
Outflows81,41188,31620,10121,70520,62018,985 21,13522,89423,43520,852
      Direct investment incomeInflows17,88318,3574,6244,3834,5984,278 4,0664,5494,8334,909
Outflows40,39540,00910,41710,89410,6608,424 10,52010,37710,8268,286
          Income on equityInflows14,39514,5333,6463,6343,6923,423 3,1063,6203,8993,908
Outflows34,90134,4899,3019,7579,3936,450 9,4839,2359,6366,135
              Dividends & distributed Inflows3,8572,232 2211,3351092,192 80*164*
                  branch profitsOutflows17,10613,543 4,7865,4873,3063,527 3,8533,0183,2763,396
              Reinvested earningsInflows10,53812,302 3,4252,2993,5831,231 3,027*3,735*
Outflows17,79420,948 4,5154,2716,0862,922 5,6306,2186,3602,740
         Income on debtInflows3,4883,824978749906855 9609299341,001
Outflows5,4945,5181,1161,1371,2671,974 1,0361,1421,1892,151
      Portfolio investment incomeInflows26,04433,9146,1186,6956,6586,573 7,6138,3889,1198,794
Outflows31,09238,7277,0318,3807,6358,046 8,43210,01310,17810,104
          Income on equityInflows6,9209,2991,5601,9081,8321,620 1,8062,4152,5562,522
 Outflows20,04628,7444,1385,6174,9265,365 6,0617,3407,6947,649
         Income on debtInflows19,12524,6154,5584,7874,8264,954 5,8075,9736,5636,272
Outflows11,0489,9832,8942,7642,7092,681 2,3712,6732,4842,455
      Other investment incomeInflows10,3589,2532,6742,6342,4682,582 2,3002,2772,2902,386
Outflows9,9259,5822,6542,4312,3262,514 2,1842,5042,4322,462
Other primary incomeInflows1,4511,31862401121,237 4683291,160
Outflows4273351329910195 136535987
             
Secondary IncomeInflows3,2463,041909760866711 694728800819
 Outflows5,7085,2921,6601,4001,3541,294 1,4291,2631,2061,394
              
Current Account - TotalInflows243,582274,21658,21062,14660,72062,506 61,52569,28570,27773,129
Outflows235,948262,74957,42860,82058,03359,667 60,56566,34366,43069,411
             
Current Account Balance 7,63311,4677811,3262,6872,839 9602,9423,8473,718
              
Capital Account Balance 1001355312134 3597714
              
Memorandum Item:           
 Government IncomeInflows141106 28483728 13284025
 Outflows4,6444,795 1,1941,1481,1571,145 1,1541,2891,1811,171
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 transmited by electronic means.
The value of sales and purchases of additional software licences is also included.
4Covers mainly advertising and inter-affiliate management charges.
*Suppressed for confidentiality reasons
Table 2b Financial Account¹  € million
201320142013 2014
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2Quarter 3Quarter 4
        
Direct Investment Abroad18,05723,965 14,182-2,0374,0041,908 -547-1,14721,4414,218
In Ireland27,8925,802 17,7175,3214,466388 -7,673-28813,832-69
             
    EquityAbroad7,566-2,18414,435-8,2553721,014 -5,085*12,967*
 In Ireland6,8253,63211,167-465-1,774-2,103 -2,958285,871691
    Reinvested EarningsAbroad10,53812,3023,4252,2993,5831,231 3,027*3,735*
In Ireland17,79420,9484,5154,2716,0862,922 5,6306,2186,3602,740
    Other CapitalAbroad-4713,848 -3,6783,91849-336 1,512-824,7397,679
 In Ireland3,273-18,777 2,0341,516154-431 -10,346-6,5331,602-3,500
              
Portfolio InvestmentAssets100,923172,253 57,6921,55019,80921,872 32,66754,70654,57830,302
Liabilities54,622168,014 36,024-3,19217,3704,420 44,32746,23855,80221,647
             
    EquityAssets60,65369,483 16,2668,99711,26324,127 15,66717,21917,39419,203
 Liabilities82,260172,155 33,1544,89327,18117,032 42,69447,99059,71621,755
     Debt InstrumentsAssets40,271102,770 41,427-7,4478,546-2,255 16,99937,48837,18411,099
 Liabilities-27,638-4,140 2,870-8,085-9,811-12,612 1,633-1,752-3,914-107
        Bonds and notes Assets45,60439,02427,9002,2474,84310,614 1,38023,14611,4553,043
 Liabilities-19,039-4,8361,186-7,781-7,510-4,934 783-646-4,958-15
        Money market instruments Assets-5,33363,74613,527-9,6943,703-12,869 15,62014,34225,7288,056
 Liabilities-8,596698 1,684-303-2,300-7,677 850-1,1051,045-92
              
Other InvestmentAssets-51,47061,562 -7,658-7,687-6,103-30,022 33,5262,882-6,41031,564
Liabilities-26,09872,676 4,566-8,865-6,199-15,600 29,2751,72999740,675
             
     Loans, currency and depositsAssets-46,049-18,737 -15,255-8,982-6,626-15,186 13,717-6,668-18,859-6,927
 Liabilities-16,269-14,187 -11,703-685-2,382-1,499 -3,091-4,316-10,4143,634
     Other 2Assets-5,42180,299 7,5961,295524-14,836 19,8099,55012,44938,491
 Liabilities-9,82886,863 16,270-8,180-3,817-14,101 32,3666,04511,41137,041
              
Reserve Assets 10136 0145 012133
             
     Monetary gold 00 0000 010-1
     Special drawing rights 100 1234 0000
     Reserve position in the IMF 0-1 0000 000-1
     Foreign exchange  00 -1-111 002-2
     Other 0137 0000 000137
              
Balance on Financial Account 11,10311,423 5,909-1,4372,0774,554 -2838,763-1,0213,964
              
Net errors and omissions 3,370-180 5,074-2,774-6111,681 -1,2785,811-4,945232
Memorandum Item:            
Government financialAssets3,017-4,914 961-93771,688 175-2,041-175-2,873
  transactionsLiabilities4,9402,652 6,972-8522,224-3,404 3,5361,9931,164-4,041
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.
*Suppressed for confidentiality reasons
Table 3 Current, Capital and Financial Accounts showing IFSC¹ and Non–IFSC activity    € million
 20132014 20132014
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2Quarter 3Quarter 4
Current Account - TotalInflows243,582274,21658,21062,14660,72062,50661,52569,28570,27773,129
 Outflows235,948262,74957,42860,82058,03359,66760,56566,34366,43069,411
            
Merchandise 2Exports91,763106,81922,46724,09223,17222,03224,32027,19627,31927,984
Imports55,58060,92413,79613,79813,58914,39714,17415,01714,96116,772
           
ServicesExports92,292100,97221,22023,40622,71024,95622,34925,92625,75026,947
Imports92,113107,15821,57123,63822,19024,71423,51526,93226,58930,122
           
        IFSCExports25,86327,7126,2666,4916,3806,7266,6617,0106,9697,072
 Imports15,29817,1803,8523,9093,7373,8004,0494,4584,3304,343
        Non-IFSCExports66,42873,26014,95416,91416,33018,23015,68818,91618,78119,875
Imports76,81589,97817,71919,72918,45320,91419,46622,47422,25925,779
           
Primary IncomeInflows56,28263,38413,61413,88913,97214,80714,16215,43516,40817,379
Outflows82,54689,37420,40021,98420,90119,26121,44623,13123,67421,123
           
        IFSCInflows37,37044,6839,0729,4389,4389,42210,25410,96611,74111,722
 Outflows38,56546,1499,4449,8459,7909,48610,56611,55812,04511,980
        Non-IFSCInflows18,91018,7004,5424,4504,5335,3853,9084,4694,6665,657
Outflows43,98143,22510,95612,13911,1119,77510,88111,57311,6299,142
           
Secondary IncomeInflows3,2463,041909760866711694728800819
Outflows5,7085,2921,6601,4001,3541,2941,4291,2631,2061,394
           
        IFSC3Inflows2,7422,574748649747598608613674679
 Outflows2,7422,574748649747598608613674679
        Non-IFSCInflows50346716111011911386115126140
 Outflows2,9652,719912751606696822650532715
            
Balance on Current Account 7,63311,4677811,3262,6872,8399602,9423,8473,718
            
Balance on Capital Account 10013553121343597714
            
Financial Account 4            
Direct investmentAbroad18,05723,96514,182-2,0374,0041,908-547-1,14721,4414,218
 In Ireland27,8925,80217,7175,3214,466388-7,673-28813,832-69
            
        IFSCAbroad3,141-2,675670609975887-3,576221264416
 In Ireland17,1483,0819,1634,4533,201331-6,0381,35611,751-3,988
        Non-IFSCAbroad14,91826,64013,512-2,6463,0301,0223,029-1,36821,1773,802
 In Ireland10,7462,7218,5548681,26658-1,635-1,6442,0813,919
            
Portfolio investmentAssets100,923172,25357,6921,55019,80921,87232,66754,70654,57830,302
 Liabilities54,622168,01436,024-3,19217,3704,42044,32746,23855,80221,647
            
        IFSCAssets96,211164,99757,59991818,63819,05634,94849,72853,78026,541
 Liabilities62,606138,31331,0594,79319,8196,93540,69746,78935,60015,227
        Non-IFSCAssets4,7117,256936321,1712,815-2,2824,9797983,761
 Liabilities-7,98429,7004,965-7,985-2,449-2,5153,629-55120,2026,420
            
Other investment 5Assets-51,47061,562-7,658-7,687-6,103-30,02233,5262,882-6,41031,564
 Liabilities-26,09872,6764,566-8,865-6,199-15,60029,2751,72999740,675
            
        IFSCAssets-38,46470,259522-3,263-2,629-33,09440,2763,876-4,18530,292
 Liabilities-8,068117,61522,687-10,495-7,468-12,79245,32013,8798,81149,605
        Non-IFSCAssets-13,006-8,695-8,180-4,424-3,4743,072-6,749-993-2,2251,272
 Liabilities-18,029-44,939-18,1201,6301,269-2,808-16,045-12,150-7,814-8,930
            
Reserve Assets 101360145012133
            
Balance on Financial Account 11,10311,423 5,909-1,4372,0774,554 -2838,763-1,0213,964
Net errors and omissions 3,370-180 5,074-2,774-6111,681 -1,2785,811-4,945232
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 2013 2014
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2Quarter 3Quarter 4
        
Current Account - TotalInflows243,582274,216 58,21062,14660,72062,506 61,52569,28570,27773,129
 Outflows235,948262,749 57,42860,82058,03359,667 60,56566,34366,43069,411
              
  Merchandise 2Exports91,763106,81922,46724,09223,17222,032 24,32027,19627,31927,984
 Imports55,58060,92413,79613,79813,58914,397 14,17415,01714,96116,772
      EMUExports33,97639,0307,8528,9288,6758,521 9,1099,26810,44310,210
 Imports13,93315,3513,5113,5213,3563,545 3,6553,7233,6624,311
      Non-EMUExports57,78767,78814,61515,16414,49713,511 15,21217,92716,87617,773
 Imports41,64645,57110,28510,27710,23210,852 10,51911,29411,29812,460
       EU Exports51,94257,48312,18013,70213,36912,691 13,37414,00215,45414,653
 Imports38,30540,7379,4739,3749,4899,969 9,6329,8749,92111,310
      Non-EU Exports39,82149,33610,28710,3909,8039,341 10,94613,19411,86513,331
Imports17,27520,1874,3244,4244,0994,428 4,5425,1435,0405,462
             
  ServicesExports92,292100,97221,22023,40622,71024,956 22,34925,92625,75026,947
 Imports92,113107,15821,57123,63822,19024,714 23,51526,93226,58930,122
      EMUExports29,70233,0707,1268,0556,6787,843 7,1428,8078,3418,780
 Imports33,72933,7287,8308,4448,3209,135 7,7078,5078,6108,904
      Non-EMUExports62,59067,90214,09415,35116,03217,113 15,20717,11917,40918,167
 Imports58,38373,43113,74115,19413,86915,579 15,80818,42517,97921,219
       EU Exports51,39857,66412,07013,41812,26013,650 12,40415,28314,63915,338
 Imports44,76646,07010,38611,17110,83412,375 10,43111,66211,68712,290
      Non-EU Exports40,89443,3099,1509,98810,45011,306 9,94510,64411,11111,609
Imports47,34661,08811,18612,46611,35512,339 13,08415,27014,90217,832
              
Primary IncomeInflows56,28263,38413,61413,88913,97214,807 14,16215,43516,40817,379
 Outflows82,54689,37420,40021,98420,90119,261 21,44623,13123,67421,123
      EMUInflows18,18719,7844,7784,3114,3974,701 4,9215,1795,0114,673
 Outflows27,28628,0786,5367,0777,1046,569 7,3166,4187,8116,533
      Non-EMUInflows38,09543,5998,8369,5789,57510,106 9,24110,25611,39612,706
 Outflows55,26061,29613,86514,90713,79712,691 14,13016,71315,86314,590
       EU Inflows28,66732,7997,1446,4776,7908,256 7,7448,1538,1308,772
 Outflows43,50348,96210,80511,18111,20910,308 11,83611,69113,34712,088
      Non-EU Inflows27,61530,5866,4707,4127,1826,551 6,4187,2838,2788,607
 Outflows39,04340,4129,59610,8029,6928,953 9,61011,44010,3279,035
              
Secondary IncomeInflows3,2463,041909760866711 694728800819
 Outflows5,7085,2921,6601,4001,3541,294 1,4291,2631,2061,394
      EMUInflows1,0621,000306244295217 244203283270
 Outflows1,1481,085327266317238 265225304291
      Non-EMUInflows2,1832,041603515571494 449525518549
 Outflows4,5614,2091,3331,1351,0371,056 1,1651,0399021,103
       EU Inflows2,3682,150722537620489 506467595582
 Outflows4,4294,2311,3699771,0551,028 1,1969639621,110
      Non-EU Inflows877891187222246222 188261205237
 Outflows1,2801,062291423299267 233300244285
              
Balance on Current Account 7,63311,4677811,3262,6872,839 9602,9423,8473,718
              
Balance on Capital Account 1001355312134 3597714
             
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. All data shown on this table relates to EMU18 and EU28.
2Adjusted for balance of payments purposes
Table 4b Financial Account¹ showing geographical² detail  € million
  20132014 20132014
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2Quarter 3Quarter 4
    
Direct InvestmentAbroad18,05723,96514,182-2,0374,0041,908 -547-1,14721,4414,218
 In Ireland27,8925,80217,7175,3214,466388 -7,673-28813,832-69
             
      EMUAbroad7,25920,8983,9552712,183850 624-42418,9261,772
 In Ireland14,0664,7495,7315,9042,673-242 -4,302-3,0677,1694,949
      Non-EMUAbroad10,7993,06810,227-2,3081,8211,059 -1,170-7232,5152,446
 In Ireland13,8271,05511,986-5841,794631 -3,3702,7806,663-5,018
       EU Abroad12,82319,3596,8171743,3732,459 -2,151-3,45020,7654,195
 In Ireland14,264-36810,1365,1773,077-4,126 -7,506-2,9224,8715,189
      Non-EU Abroad5,2344,6067,366-2,212631-551 1,6042,30367623
 In Ireland13,6286,1707,5811431,3894,515 -1672,6348,962-5,259
             
Portfolio InvestmentAssets100,923172,25357,6921,55019,80921,872 32,66754,70654,57830,302
 Liabilities54,622168,01436,024-3,19217,3704,420 44,32746,23855,80221,647
             
      EMUAssets23,00135,61119,5996,822-2,079-1,341 20,60310,9948,809-4,795
 Liabilities9,11343,8219,4521,825468-2,632 14,7409,4496,95212,680
      Non-EMUAssets77,923136,64038,093-5,27221,88823,214 12,06343,71245,76835,097
 Liabilities45,509124,19426,572-5,01716,9027,052 29,58736,78948,8508,968
       EU Assets45,13578,70917,5995,97415,2576,305 22,44231,86012,45111,956
 Liabilities39,223129,40623,1783,92813,073-956 40,76238,33926,05324,252
      Non-EU Assets55,79093,54340,094-4,4244,55215,568 10,22422,84642,12718,346
 Liabilities15,40038,60812,847-7,1204,2975,376 3,5657,89929,749-2,605
              
Other Investment 3Assets-51,47061,562-7,658-7,687-6,103-30,022 33,5262,882-6,41031,564
 Liabilities-26,09872,6764,566-8,865-6,199-15,600 29,2751,72999740,675
             
      EMUAssets-17,2797,5773,766-4,589-10,893-5,563 5,8089,5551,444-9,230
 Liabilities-34,647-12,934-13,247-5,069-7,517-8,814 797-4,337-11,1881,794
      Non-EMUAssets-34,19153,985-11,424-3,0984,790-24,459 27,718-6,673-7,85440,794
 Liabilities8,54985,60917,813-3,7961,318-6,786 28,4786,06612,18438,881
       EU Assets-27,78314,829-4,225-5,512-2,779-15,267 19,055-5207,097-10,803
 Liabilities-24,91813,769-9,873-8,468962-7,539 6,945-4,420-6,53917,783
      Non-EU Assets-23,68746,734-3,433-2,175-3,324-14,755 14,4723,402-13,50742,367
 Liabilities-1,18058,90914,439-397-7,161-8,061 22,3306,1507,53622,893
            
Reserve Assets 101360145 012133
             
Balance on Financial Account 11,10311,4235,909-1,4372,0774,554 -2838,763-1,0213,964
              
Net errors and omissions 3,370-180 5,074-2,774-6111,681 -1,2785,811-4,945232
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. All data shown
on this table relates to EMU18 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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