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For more information on this release:
E-mail: bop@cso.ie Stephen McDonagh (+353) 1 498 4364 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 4 and Year 2013

   € million
Merchandise BalanceInvisibles BalanceCurrent Account BalanceCurrent Account Balance as % of GDP
Q4 20135,986-2,6553,3308.3
Q4 20128,616-5,7212,8957.1
Q1-Q4 201332,179-21,32910,8516.6
Q1-Q4 201236,368-29,1187,2504.4

Current account surplus of €3.3bn in 4th Quarter 2013

Balance of International Payments Q4 2013 Figure 1
go to full release

The Balance of Payments current account surplus in the fourth quarter of 2013 was €3,330m. The current account surplus for 2013 was €10,851m, an increase of €3,601m. The annual services surplus increased by €2,856m while the merchandise surplus decreased €4,189m and income outflows were €5,153m lower than 2012 (see Table 1).

 

  

MerchandiseServicesIncome
Q1 20128.4010.179-8.538
Q2 201210.0391.531-8.09
Q3 20129.3121.258-7.812
Q4 20128.6160.238-6.677
Q1 20137.4580.754-6.192
Q2 20139.7891.512-7.695
Q3 20138.9462.109-7.176
Q4 20135.9861.687-4.901

Other points of note in the Quarter 4 2013 results are:

Current account (see Table 2a)

  • Compared with the fourth quarter of 2012, merchandise exports at €19,874m decreased by €816m while merchandise imports at €13,888m increased by €1,814m.
  • Service exports at €25,459m increased by €1,805m compared to the fourth quarter of 2012, mainly due to higher business services and computer services exports. Service imports at €23,773m were up €357m.
  • Investment income earned abroad at €13,921m, increased by €211m compared with one year earlier while investment income payable to foreign investors at €18,779m decreased by €1,557m.

Financial account (see Tables 2b and 3)

  • Direct investment in Ireland increased by €606m in the fourth quarter of 2013. An increase of €2,989m in reinvested earnings in Ireland was offset by a decrease in equity of €1,800m and a decrease in other capital of €583m.  Direct investment abroad increased by €3,799m in the quarter with an increase of €1,148m in other capital.
  • Portfolio investment in foreign assets increased €21,684m in the quarter. Investment in foreign equity increased €23,539m while investment in foreign debt instruments decreased €1,854m. Investment of €16,628m in Irish equity was partly offset by a decrease of €10,649m in debt instruments in the quarter.
  • Other investment assets decreased by €31,102m in the fourth quarter of 2013 mainly due to the activities of IFSC enterprises with a decrease of €33,941m while non-IFSC enterprises increased by €2,839m. The corresponding liabilities decreased by €15,277m 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   
 Services IncomeCurrent TransfersTotal   
1998Year17,510-8,820-9,3821,319-16,883 627 840 4,422-8,4667,459-2,2801,135-2,602
1999Year22,170-10,176-12,9451,177-21,944 226 560 11,359-14,342-9741,746-2,2111,425
2000Year27,266-13,889-14,750994-27,645 -379 1,182 22,957-5,358-9,037-1428,420-9,223
2001Year30,494-13,259-18,295305-31,249 -757 703 6,241-25,15819,039-441-319372
2002Year35,442-13,779-23,664707-36,736 -1,295 512 19,444-37,97919,2633431,070-287
2003Year32,604-11,091-21,947432-32,606 -2 93 15,270-39,97721,5671,770-1,3721,280
2004Year31,423-10,203-22,481393-32,291 -867 279 -23,09514,28711,4301,1773,801-3,212
2005Year28,218-9,303-24,870265-33,908 -5,690 264 -36,99252,698-17,6651,472-4875,912
2006Year25,031-6,797-24,033-506-31,336 -6,304 223 -16,6348,13513,182874,7701,311
2007Year19,811-1,121-27,825-990-29,936 -10,124 39 2,602-7,28316,744-1212,051-1,966
2008Year23,811-7,670-25,155-1,154-33,979 -10,169 47 -24,167-45,74986,128-7816,132-6,010
2009Year32,469-6,900-27,907-1,424-36,231 -3,763 -1,252 -64922,626-23,11679-1,0606,074
2010Year35,751-6,639-25,918-1,412-33,969 1,782 -673 15,44685,965-94,14057,276-8,384
2011Year36,681-1,699-31,797-1,183-34,679 2,002 -263 17,77526,908-34,93732910,075-11,815
2012Year36,3683,206-31,117-1,207-29,118 7,250 -2,056 15,407-220-14,21012987-6,182
2013Year32,1796,062-25,964-1,427-21,329 10,851 17 9,541-42,81023,291-11-9,989-880
                  
2008Quarter 1 4,573-1,663-6,125-781-8,569 -3,997 23 -3,1918,1823,140748,205-4,231
 Quarter 25,814-1,417-6,390-570-8,377 -2,563 47 -3,077-5,54118,414-469,749-7,233
 Quarter 35,809-1,294-7,106-386-8,786 -2,976 -19 -9,276-12,08321,835-394372,558
 Quarter 47,615-3,296-5,534583-8,247 -633 -4 -8,623-36,30742,739-67-2,2592,896
2009Quarter 1 8,085-2,500-6,998-910-10,408 -2,323 -18 -1,107-2,33142941-2,9695,309
 Quarter 29,001-2,040-7,435-725-10,200 -1,199 -16 1,148-15,77623,345-628,654-7,439
 Quarter 38,198-611-7,414-495-8,520 -322 -25 -7,50826,570-22,0203-2,9543,301
 Quarter 47,185-1,749-6,060706-7,103 81 -1,193 6,81814,163-24,87097-3,7914,903
2010Quarter 1 8,870-1,587-7,444-838-9,869 -999 35 4,54719,821-32,13132-7,7318,696
 Quarter 29,687-1,847-7,387-588-9,822 -135 -11 2,972-8,56816,773-1911,158-11,013
 Quarter 39,741-1,164-6,515-657-8,336 1,405 -1 -1,354-19,58125,635-764,624-6,027
 Quarter 47,453-2,041-4,572671-5,942 1,511 -696 9,28194,293-104,41768-775-40
2011Quarter 1 8,648-1,438-7,786-711-9,935 -1,286 9 8,2037,063-11,577653,754-2,477
 Quarter 29,554-188-8,241-521-8,950 603 -14 7,37322,344-28,928-29760-1,350
 Quarter 310,08469-8,009-562-8,502 1,582 -16 6,622-19,45615,888243,078-4,644
 Quarter 48,395-142-7,761611-7,292 1,103 -242 -4,42316,957-10,3202692,483-3,344
2012Quarter 1 8,401179-8,538-746-9,105 -705 45 11,949-46,26630,86412-3,4424,102
 Quarter 2 10,0391,531-8,090-612-7,171 2,869 -2,093 -4,32933,544-22,446-66,763-7,539
 Quarter 39,3121,258-7,812-567-7,121 2,191 -11 12,7426,812-17,76411,790-3,971
 Quarter 48,616238-6,677718-5,721 2,895 3 -4,9555,690-4,8645-4,1241,226
2013Quarter 1 7,458754-6,192-824-6,262 1,196 37 6,853-20,20610,270-2-3,0851,851
 Quarter 2 9,7891,512-7,695-707-6,8902,900 -36,589-7,064-25-1-501-2,396
 Quarter 3 8,9462,109-7,176-455-5,5223,425 -32-708166-2,779-4-3,325-68
 Quarter 45,9861,687-4,901559-2,6553,330 15-3,193-15,70615,825-4-3,078-267
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
2012201320122013
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2Quarter 3Quarter 4
Current Account     
      
Merchandise 1Exports85,85281,90621,68821,96221,51220,69019,69021,73820,60419,874
 Imports49,48549,72713,28711,92312,20112,07412,23211,94911,65813,888
              
ServicesExports90,29594,64621,04322,99622,60223,65421,60624,07123,51025,459
 Imports87,08988,58520,86521,46521,34323,41620,85222,55921,40123,773
  TransportExports4,6094,3968721,3211,4091,0077771,2421,420957
 Imports1,6751,640468390415402421414402403
  Tourism and Travel 2Exports3,0223,3355068421,0276475668641,211694
 Imports4,6094,6038651,0981,7139338711,0771,706949
  CommunicationsExports627697137153148189172179153193
 Imports1,0891,134276295257261224305310295
  InsuranceExports8,9108,3702,2562,2052,2342,2152,2102,1391,9652,056
 Imports6,2605,3591,6241,4681,5641,6041,4731,3761,3271,183
  Financial servicesExports7,0737,4681,7781,6971,7581,8401,7561,9131,9151,884
 Imports4,6084,6601,2461,0511,1931,1181,1211,1731,1681,198
  Computer services 3Exports35,68138,7488,3578,9928,18810,1449,3529,9338,75610,707
 Imports34936790858589104888887
  Royalties/LicencesExports3,8883,9801,0021,0359638888611,1209211,078
 Imports32,75534,9217,6048,3307,8718,9508,4738,7288,1949,526
  Business servicesExports25,93227,0925,9976,6156,7356,5855,7746,5407,0297,749
 Imports35,55235,7078,6448,7038,19710,0088,1169,3528,15510,084
      Trade relatedExports9,0337,9361,9442,3652,4692,2551,7002,0202,0462,170
 Imports11,82612,7993,0512,7612,7673,2472,9713,1192,8473,862
      Operational leasingExports7,4967,5841,7611,8871,9531,8951,7901,8731,9721,949
 Imports1,4921,500321376396399384415364337
      Misc. business services 4Exports9,40311,5712,2922,3632,3132,4352,2832,6473,0113,630
 Imports22,23321,4075,2725,5655,0346,3624,7605,8184,9445,885
  Other services n.e.s.Exports555558138137139141139139139141
 Imports1921944746495049484948
              
IncomeInflows57,24755,340 14,07115,03014,29913,847 13,43414,13113,71814,057
 Outflows88,36381,304 22,60923,11922,11120,524 19,62521,82620,89418,959
  Compensation of EmployeesInflows545541 134137137137 137137131136
Outflows733698 185177183188 164178176180
  Investment IncomeInflows56,69954,797 13,93614,89214,16113,710 13,29613,99313,58713,921
Outflows87,63080,606 22,42422,94221,92820,336 19,46221,64820,71718,779
      Direct investment incomeInflows17,48118,018 4,3294,6454,1744,333 4,3754,5544,4154,674
Outflows43,41840,217 11,92511,33210,8609,301 9,93211,16410,8598,262
          Income on equityInflows13,78214,363 3,3333,6733,2193,557 3,4613,6073,5113,784
Outflows38,83234,964 10,81310,2259,6218,173 8,92410,0429,6146,384
              Dividends & distributed Inflows2,6823,342 30*** *1,30525*
                  branch profitsOutflows16,86216,437 4,0454,3874,2684,162 4,1705,5283,3433,396
              Reinvested earningsInflows11,10011,020 3,303*** *2,3023,485*
Outflows21,96918,525 6,7685,8385,3534,010 4,7534,5136,2702,989
         Income on debtInflows3,6993,656 996972955776 914947905890
Outflows4,5845,254 1,1121,1061,2381,128 1,0081,1231,2461,877
      Portfolio investment incomeInflows25,23225,960 5,9696,6876,5456,031 6,1286,6896,6056,538
Outflows31,63230,655 7,1068,3958,0298,102 6,9248,0887,6428,001
          Income on equityInflows6,3406,882 1,3501,8151,6901,485 1,5651,9211,7761,620
 Outflows18,60719,622 3,6545,0244,8065,123 4,0655,3564,9375,264
         Income on debtInflows18,89219,078 4,6194,8724,8554,546 4,5634,7684,8294,918
Outflows13,02511,035 3,4523,3723,2232,978 2,8602,7322,7052,738
      Other investment incomeInflows13,98610,819 3,6383,5603,4423,346 2,7932,7502,5672,709
Outflows12,5819,733 3,3933,2153,0402,933 2,6062,3952,2162,516
             
Current TransfersInflows5,5624,494 1,2321,0721,1542,104 9277389181,911
 Outflows6,7675,918 1,9781,6841,7201,385 1,7501,4441,3721,352
              
Current Account - TotalInflows238,955236,385 58,03461,06059,56660,295 55,65760,67758,75061,301
Outflows231,704225,534 58,73858,19157,37557,400 54,46057,77855,32557,971
             
Current Account Balance 7,25010,851 -7052,8692,1912,895 1,1962,9003,4253,330
              
Capital Account Balance -2,05617 45-2,093-113 37-3-3215
              
Memorandum Item:             
 Government IncomeInflows115141 23382331 28483728
 Outflows4,6254,638 1,0891,1151,1871,234 1,1841,1521,1571,145
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, research and development and inter-affiliate management charges.
*Suppressed for confidentiality reasons
Table 2b Financial Account¹   € million
2012201320122013
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2Quarter 3Quarter 4
            
Direct Investment Abroad-14,413-17,211 -4,962-4,337-512-4,602 -9,855702-4,259-3,799
In Ireland29,82026,752 16,911913,253-353 16,7085,8873,551606
             
    EquityAbroad1,6651,257-1,346*** *7,990479*
 In Ireland11,3488,8324,2883,5372,707816 11,200614-1,182-1,800
    Reinvested EarningsAbroad-11,100-11,020-3,303*** *-2,302-3,485*
In Ireland21,96918,5256,7685,8385,3534,0104,7534,5136,2702,989
    Other CapitalAbroad-4,978-7,448 -313-465-1,098-3,102 -60-4,987-1,253-1,148
 In Ireland-3,497-606 5,855-9,3665,194-5,180 754760-1,537-583
              
Portfolio InvestmentAssets-73,573-94,543 -62,13330,285-20,029-21,696 -56,9181,633-17,574-21,684
Liabilities73,35251,734 15,8673,25826,84127,386 36,712-8,69717,7405,979
             
    EquityAssets-11,467-58,707 -5,9215,6211,395-12,562 -15,939-9,861-9,368-23,539
 Liabilities81,79782,112 27,0518,39220,07026,284 33,0155,20027,26916,628
     Debt InstrumentsAssets-62,106-35,837 -56,21224,664-21,424-9,134 -40,97911,494-8,2061,854
 Liabilities-8,446-30,378 -11,185-5,1346,7711,102 3,697-13,897-9,529-10,649
        Bonds and notes Assets-55,606-42,215 -10,2631,385-11,900-34,828 -28,4271,419-4,064-11,143
 Liabilities-11,626-22,838 -9,829-3,8314,652-2,618 1,749-13,858-7,493-3,236
        Money market instruments Assets-6,4996,378 -45,94823,279-9,52425,694 -12,55210,075-4,14212,997
 Liabilities3,180-7,540 -1,356-1,3032,1193,720 1,948-39-2,036-7,413
              
Other InvestmentAssets75,18357,011 61,220-16,31664129,6381,57116,4927,84631,102
Liabilities-89,393-33,719 -30,356-6,130-18,405-34,5028,699-16,517-10,624-15,277
             
     Loans, currency and depositsAssets74,67857,945 59,017-18,8592,53231,98815,61218,2457,53916,549
 Liabilities-79,506-26,594 -29,968-289-24,712-24,537-12,263-8,389-5,690-252
     Other 2Assets502-934 2,2022,543-1,892-2,351-14,041-1,75230614,553
 Liabilities-9,886-7,125 -388-5,8416,308-9,96520,962-8,128-4,934-15,025
              
Reserve Assets 12-11 12-615-2-1-4-4
             
     Monetary gold 00 00000000
     Special drawing rights -8-10 -6-5-25-1-2-3-4
     Reserve position in the IMF 00 00000000
     Foreign exchange  20-1 18-130-11-10
     Other 00 00000000
              
Balance on Financial Account 987-9,989 -3,4426,7631,790-4,124 -3,085-501-3,325-3,078
              
Net errors and omissions -6,182-880 4,102-7,539-3,9711,226 1,851-2,396-68-267
Memorandum Item:             
Government financialAssets-2,734-3,016 -753520-454-2,047 -9589-379-1,688
  transactionsLiabilities20,4754,189 5,4904,4988,5871,900 6,972-852-176-1,755
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'. The sign convention used is: a minus sign in the 'Abroad' and 'Assets' columns means investments or acquisitions
abroad (in enterprises, foreign securities, foreign deposits, etc.) by Irish investors exceeded their disinvestments or disposals in the period, while an entry
without sign (less usual) means disinvestment exceeded investment; an entry without sign in the 'In Ireland' and 'Liabilities' columns means that investment
transactions into Ireland or incurrences of liabilities to foreign investors exceeded disinvestment or extinctions of liabilities in the period, while a minus sign
(less usual) indicates that disinvestment exceeded investment and liability extinctions exceeded incurrences.
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
 20122013 20132014
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2Quarter 3
Current Account - TotalInflows244,839243,58258,21062,14660,72062,50661,52569,28570,277
 Outflows242,137235,94857,42860,82058,03359,66760,56566,34366,430
           
Merchandise 2Exports96,97691,76322,46724,09223,17222,03224,32027,19627,319
Imports54,57155,58013,79613,79813,58914,39714,17415,01714,961
          
ServicesExports85,52792,29221,22023,40622,71024,95622,34925,92625,750
Imports92,50492,11321,57123,63822,19024,71423,51526,93226,589
          
        IFSCExports24,74025,8636,2666,4916,3806,7266,6617,0106,969
 Imports15,19515,2983,8523,9093,7373,8004,0494,4584,330
        Non-IFSCExports60,78666,42814,95416,91416,33018,23015,68818,91618,781
Imports77,30976,81517,71919,72918,45320,91419,46622,47422,259
          
Primary IncomeInflows58,41656,28213,61413,88913,97214,80714,16215,43516,408
Outflows88,72682,54620,40021,98420,90119,26121,44623,13123,674
          
        IFSCInflows38,27737,3709,0729,4389,4389,42210,25410,96611,741
 Outflows42,05338,5659,4449,8459,7909,48610,56611,55812,045
        Non-IFSCInflows20,14018,9104,5424,4504,5335,3853,9084,4694,666
Outflows46,67343,98110,95612,13911,1119,77510,88111,57311,629
          
Secondary IncomeInflows3,9183,246909760866711694728800
Outflows6,3365,7081,6601,4001,3541,2941,4291,2631,206
          
        IFSC3Inflows3,3602,742748649747598608613674
 Outflows3,3602,742748649747598608613674
        Non-IFSCInflows55850316111011911386115126
 Outflows2,9762,965912751606696822650532
           
Balance on Current Account 2,7027,6337811,3262,6872,8399602,9423,847
           
Balance on Capital Account 86100531213435977
           
Financial Account 4           
Direct investmentAbroad11,89718,05714,182-2,0374,0041,908-547-1,14721,368
 In Ireland35,18427,89217,7175,3214,466388-7,673-28813,269
           
        IFSCAbroad1,3033,141670609975887-3,576221264
 In Ireland9,60517,1489,1634,4533,201331-6,0381,35611,729
        Non-IFSCAbroad10,59514,91813,512-2,6463,0301,0223,029-1,36821,104
 In Ireland25,57910,7468,5548681,26658-1,635-1,6441,540
           
Portfolio investmentAssets74,522100,92357,6921,55019,80921,87232,66754,70654,592
 Liabilities70,44254,62236,024-3,19217,3704,42044,32746,23856,082
           
        IFSCAssets81,32296,21157,59991818,63819,05634,94849,72853,794
 Liabilities83,69462,60631,0594,79319,8196,93540,69746,78935,600
        Non-IFSCAssets-6,7994,711936321,1712,815-2,2824,979798
 Liabilities-13,252-7,9844,965-7,985-2,449-2,5153,629-55120,482
           
Other investment 5Assets-82,026-51,470-7,658-7,687-6,103-30,02233,5262,882-18,824
 Liabilities-101,126-26,0984,566-8,865-6,199-15,60029,2751,729-10,064
           
        IFSCAssets-61,851-38,464522-3,263-2,629-33,09440,2763,876-16,530
 Liabilities-52,338-8,06822,687-10,495-7,468-12,79245,32013,879-2,250
        Non-IFSCAssets-20,176-13,006-8,180-4,424-3,4743,072-6,749-993-2,294
 Liabilities-48,787-18,029-18,1201,6301,269-2,808-16,045-12,150-7,814
           
Reserve Assets -12100145012
           
Balance on Financial Account -12011,103 5,909-1,4372,0774,554 -2838,763-2,149
Net errors and omissions -2,9073,370 5,074-2,774-6111,681 -1,2785,811-6,074
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
 20122013 2012 2013
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2Quarter 3Quarter 4
            
Current Account - TotalInflows238,955236,385 58,03461,06059,56660,29555,65760,67758,75061,301
 Outflows231,704225,534 58,73858,19157,37557,40054,46057,77855,32557,971
              
  Merchandise 2Exports85,85281,90621,68821,96221,51220,69019,69021,73820,60419,874
 Imports49,48549,72713,28711,92312,20112,07412,23211,94911,65813,888
      EMUExports35,32632,1409,1109,0938,5668,5577,1368,9437,9238,138
 Imports11,79313,0142,9432,8332,9513,0663,2283,1893,0373,560
      Non-EMUExports50,52649,76512,57812,86912,94612,13312,55312,79512,68111,736
 Imports37,69236,71210,3449,0909,2499,0099,0048,7598,62110,328
       EU Exports53,24549,26513,79813,88812,66512,89411,15513,35512,17912,576
 Imports34,24035,7778,5668,0888,5859,0018,7648,4308,44210,141
      Non-EU Exports32,60732,6407,8908,0748,8477,7968,5358,3838,4257,297
Imports15,24513,9514,7213,8353,6163,0733,4693,5193,2163,747
             
  ServicesExports90,29594,64621,04322,99622,60223,65421,60624,07123,51025,459
 Imports87,08988,58520,86521,46521,34323,41620,85222,55921,40123,773
      EMUExports29,12828,9057,4587,2056,8267,6396,7697,7926,7437,601
 Imports34,01932,7668,0508,5768,2059,1887,5638,1418,0559,007
      Non-EMUExports61,16865,74113,58615,79115,77616,01514,83716,27916,76717,858
 Imports53,06955,81812,81412,88913,13814,22813,28914,41813,34614,765
       EU Exports51,37653,35112,32812,78112,57513,69212,16713,89713,12614,161
 Imports45,37943,73010,81311,22710,95512,38410,02810,83910,66912,194
      Non-EU Exports38,91941,2958,71510,21510,0279,9629,43910,17410,38411,298
Imports41,71044,85310,05210,23810,38811,03210,82411,71910,73111,579
              
  IncomeInflows57,24755,34014,07115,03014,29913,84713,43414,13113,71814,057
 Outflows88,36381,30422,60923,11922,11120,52419,62521,82620,89418,959
      EMUInflows19,70417,7995,0245,1314,7274,8224,5524,4724,1884,587
 Outflows30,59027,3768,5587,6147,2767,1426,5427,1747,1016,559
      Non-EMUInflows37,54337,5429,0479,8999,5729,0258,8829,6589,5319,471
 Outflows57,77253,92714,05015,50514,83513,38213,08414,65113,79312,399
       EU Inflows30,11726,8367,6817,8717,3547,2116,7986,6596,4276,952
 Outflows46,89042,77412,69311,87711,55010,77010,57511,08811,04210,069
      Non-EU Inflows27,12828,5046,3897,1586,9456,6366,6367,4717,2917,106
Outflows41,47338,5299,91611,24210,5619,7549,05010,7379,8528,890
             
Current TransfersInflows5,5624,4941,2321,0721,1542,1049277389181,911
 Outflows6,7675,9181,9781,6841,7201,3851,7501,4441,3721,352
      EMUInflows1,009994374407280-52289227278200
 Outflows1,0511,036384417291-41298241288209
      Non-EMUInflows4,5543,4998586668742,1566385116391,711
 Outflows5,7184,8811,5941,2671,4301,4271,4521,2031,0841,142
       EU Inflows3,9233,8277467088381,6317935697241,741
 Outflows4,4814,8801,3701,1501,1907711,5121,0811,1491,138
      Non-EU Inflows1,637665486364315472134168193170
Outflows2,2871,040608534531614239364223214
             
Balance on Current Account 7,25010,851-7052,8692,1912,8951,1962,9003,4253,330
              
Balance on Capital Account -2,0561745-2,093-11337-3-3215
              
1The term ‘EMU’ means the area represented by the 17 Member States participating in Monetary Union. Until Quarter 2 2013 the term ‘EU’ relates to transactions between
 residents of Ireland and other residents of the EU27 area. With the expansion of the EU on 1 July 2013 to include Croatia, from Quarter 3 2013 the area covered is EU28.
2Adjusted for balance of payments purposes
Table 4b Financial Account¹ showing geographical² detail  € million
  20122013 20122013
Item Year Quarter 1Quarter 2Quarter 3Quarter 4 Quarter 1Quarter 2Quarter 3Quarter 4
       
Direct InvestmentAbroad-14,413-17,211-4,962-4,337-512-4,602-9,855702-4,259-3,799
 In Ireland29,82026,75216,911913,253-35316,7085,8873,551606
            
      EMUAbroad-3,202-7,402-3,439298972-1,033-1,029-885-2,807-2,681
 In Ireland16,70714,7375,4776073,6826,9415,7065,6892,746596
      Non-EMUAbroad-11,209-9,809-1,523-4,635-1,483-3,568-8,8261,587-1,452-1,118
 In Ireland13,11212,01511,434-5999,571-7,29411,00219880510
       EU Abroad-6,037-9,419-3,418-191532-2,960-1,231-1,121-3,160-3,907
 In Ireland20,65214,77910,1186435,5234,36810,2105,3432,789-3,563
      Non-EU Abroad-8,376-7,791-1,544-4,147-1,044-1,641-8,6231,823-1,099108
 In Ireland9,16711,9746,793-6357,730-4,7216,4985447634,169
            
Portfolio InvestmentAssets-73,573-94,543-62,13330,285-20,029-21,696-56,9181,633-17,574-21,684
 Liabilities73,35251,73415,8673,25826,84127,38636,712-8,69717,7405,979
            
      EMUAssets-29,495-12,183-12,7553,534-17,319-2,955-18,4892,8671,8991,540
 Liabilities-7,55012,946-664-9,0585,381-3,20911,6481,0421,454-1,198
      Non-EMUAssets-44,077-82,362-49,37826,751-2,709-18,741-38,430-1,235-19,473-23,224
 Liabilities80,90238,78816,53112,31621,45930,59625,064-9,73916,2867,177
       EU Assets-37,868-33,900-30,19820,126-21,476-6,320-16,1392,812-14,526-6,047
 Liabilities-4,47740,153-1,058-14,7226,3934,91025,589-1,72315,1481,139
      Non-EU Assets-35,705-60,644-31,93510,1591,447-15,376-40,779-1,179-3,048-15,638
 Liabilities77,82811,58116,92417,98020,44822,47611,123-6,9742,5924,840
              
Other Investment 3Assets75,18357,01161,220-16,31664129,638 1,57116,4927,84631,102
 Liabilities-89,393-33,719-30,356-6,130-18,405-34,5028,699-16,517-10,624-15,277
            
      EMUAssets104,25619,47860,28310,1674,09129,715-4,0125,42211,1286,940
 Liabilities-98,316-41,543-44,8903,093-26,321-30,198-14,322-8,210-10,658-8,353
      Non-EMUAssets-29,07237,534937-26,482-3,450-775,58411,070-3,28224,162
 Liabilities8,9237,82414,534-9,2237,916-4,30423,021-8,30734-6,924
       EU Assets154,67140,70276,8834,68129,15643,9514,56615,3123,46417,360
 Liabilities-110,332-37,724-38,233-3,111-28,572-40,416-11,589-16,301-2,504-7,330
      Non-EU Assets-79,49016,311-15,664-20,997-28,516-14,313-2,9941,1814,38113,743
 Liabilities20,9394,0047,877-3,01910,1675,91420,288-216-8,121-7,947
           
Reserve Assets 12-1112-615-2-1-4-4
            
Balance on Financial Account 987-9,989-3,4426,7631,790-4,124-3,085-501-3,325-3,078
              
Net errors and omissions -6,182-880 4,102-7,539-3,9711,226 1,851-2,396-68-267
1See footnote 1 on Table 2b.
2The term ‘EMU’ means the area represented by the 17 Member States participating in Monetary Union. Until Quarter 2 2013 the term ‘EU’ relates to transactions between residents of
 Ireland and other residents of the EU27 area. With the expansion of the EU on 1 July 2013 to include Croatia, from Quarter 3 2013 the area covered is 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, income inflows and outflows and current transfers. 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 BOP Quarterly Statistical Compilation Methodology (PDF 240KB) .

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