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International Accounts Q1 2019

Goods and Services

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Trade balance of €30.9bn in Q1 2019

	Goods	of which International Trade
Q1 2017	47.901	32.172
Q2 2017	47.323	31.066
Q3 2017	48.977	28.974
Q4 2017	53.623	30.535
Q1 2018	51.39	33.837
Q2 2018	53.698	35.564
Q3 2018	53.773	34.09
Q4 2018	57.446	37.135
Q1 2019	57.145	38.018

Ireland’s trade balance at €30.9bn, all goods and services exports less all goods and services imports, increased by €2.0bn in the first quarter of 2019, over the same period in 2018.

Merchandise exports were €57bn in the first quarter of 2019, an increase of €5.8bn compared with the first quarter of 2018.

	Goods	of which International Trade
Q1 2017	22.714	20.389
Q2 2017	22.777	21.086
Q3 2017	20.314	18.005
Q4 2017	22.9	21.03
Q1 2018	22.331	19.49
Q2 2018	24.894	21.245
Q3 2018	25.553	22.304
Q4 2018	30.568	25.572
Q1 2019	24.994	19.803

Merchandise imports were €25bn in the first quarter of 2019, an increase of €2.7bn compared with the same period in 2018.

	Q1 2019	Q1 2018
Computer Services	24.463	18.723
Business Services	10.802	8.49
Financial Services	3.845	3.921
Insurance	2.531	2.547
Royalties/Licences	2.04	2.54
Transport	1.15	1.238
Tourism and Travel	0.774	0.817
Repairs and Processing	0.488	0.439
Other Services n.e.s	0.303	0.869
Communications	0.088	0.112

Service exports, at €46.5bn, increased by €6.8bn compared to the first quarter of 2018, mainly due to higher computer services exports.

	Q1 2019	Q1 2018
Royalties/Licences	18.798	16.458
Business Services	18.103	13.993
Financial Services	3.452	3.286
Insurance	2.211	2.139
Repairs and Processing	1.561	0.976
Tourism and Travel	1.403	1.195
Computer Services	1.091	0.809
Transport	0.767	0.681
Other Services n.e.s	0.181	0.169
Communications	0.14	0.139

Service imports, at €47.7bn, were up €7.9bn over the same period in 2018. These figures were largely affected by increased imports of business services.

	Royalties/Licences Exports	of which Pharmaceutical	of which Information and Communication
Q1 2017	1.544	0.046	0.177
Q2 2017	1.736
Q3 2017	2.948	0.258
Q4 2017	2.872		1.069
Q1 2018	2.54	0.032	1.111
Q2 2018	3.299	0.016	1.407
Q3 2018	3.025	0.018	1.01
Q4 2018	2.913	0.018	0.607
Q1 2019	2.04	0.017	0.355

Please note: In Q2 2017 and Q4 2017, the figures for royalties/licences of which pharmaceutical have been suppressed due to confidentiality requirements, and in addition in Q2 2017 and Q3 2017 the figures for royalties/licences of which information and communication have been suppressed due to confidentiality requirements.

	Royalties/Licences Exports	of which Pharmaceutical	of which Information and Communication
Q1 2017	16.759	5.198	7.788
Q2 2017	16.743	5.3	8.215
Q3 2017	15.291	4.227	7.652
Q4 2017	17.869	4.163	10.05
Q1 2018	16.458	3.545	8.858
Q2 2018	17.94	4.152	9.768
Q3 2018	18.076	3.656	10.234
Q4 2018	19.706	4.016	11.748
Q1 2019	18.798	3.877	11.105

Table 2.1 Breakdown of Merchandise Exports and Imports

Table 2.2 Breakdown of Services Exports and Imports

Table 2.2 Breakdown of Services Exports and Imports												€ million
		2017	2018	2017				2018				2019
Item				Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1
Services	Exports	161,831	180,077	36,393	39,417	39,955	46,066	39,696	43,701	46,004	50,676	46,484
	Imports	205,323	185,647	39,831	78,160	39,695	47,637	39,847	44,687	45,476	55,637	47,708
Repairs and Processing	Exports	1,994	1,899	446	475	502	571	439	463	430	567	488
	Imports	4,765	5,452	1,090	1,094	1,038	1,543	976	1,093	1,281	2,102	1,561
Transport	Exports	8,088	7,746	1,190	2,149	3,099	1,650	1,238	2,112	2,832	1,564	1,150
	Imports	2,599	3,109	652	672	604	671	681	733	753	942	767
Tourism and Travel¹	Exports	4,972	5,237	708	1,433	1,762	1,069	817	1,500	1,847	1,073	774
	Imports	5,814	6,270	1,077	1,407	2,063	1,267	1,195	1,566	2,091	1,418	1,403
Insurance	Exports	9,747	9,664	2,464	2,411	2,329	2,543	2,547	2,433	2,307	2,377	2,531
	Imports	6,967	8,040	1,710	1,773	1,661	1,823	2,139	2,027	1,926	1,948	2,211
Financial services	Exports	15,544	15,354	3,819	3,694	3,923	4,108	3,921	3,819	3,805	3,809	3,845
	Imports	12,923	12,851	3,177	3,073	3,243	3,430	3,286	3,202	3,166	3,197	3,452
Royalties/Licences	Exports	9,100	11,777	1,544	1,736	2,948	2,872	2,540	3,299	3,025	2,913	2,040
	Imports	66,662	72,180	16,759	16,743	15,291	17,869	16,458	17,940	18,076	19,706	18,798
of which: Pharmaceutical products and preparations	Exports	603	84	46	*	258	*	32	16	18	18	17
	Imports	18,888	15,369	5,198	5,300	4,227	4,163	3,545	4,152	3,656	4,016	3,877
Information and communication	Exports	2,472	4,135	177	*	*	1,069	1,111	1,407	1,010	607	355
	Imports	33,705	40,608	7,788	8,215	7,652	10,050	8,858	9,768	10,234	11,748	11,105
Communications	Exports	657	415	166	167	162	162	112	107	103	93	88
	Imports	693	570	142	177	179	195	139	139	144	148	140
Computer services²	Exports	68,080	86,222	15,555	16,732	16,172	19,621	18,723	20,295	21,357	25,847	24,463
	Imports	3,232	4,331	503	756	830	1,143	809	1,090	1,088	1,344	1,091
Business services	Exports	39,553	38,025	9,630	9,690	8,309	11,924	8,490	8,799	9,305	11,431	10,802
	Imports	101,024	72,155	14,564	52,304	14,625	19,531	13,993	16,725	16,779	24,658	18,103
Research and development	Exports	6,729	2,988	1,147	1,165	633	3,784	607	588	573	1,220	787
	Imports	55,157	22,901	4,135	41,545	3,576	5,901	3,569	4,391	4,875	10,066	4,370
of which: IP related	Exports	4,508	692	*	*	82	3,236	82	*	35	*	185
	Imports	41,477	5,353	*	38,312	*	2,029	124	*	143	*	146
Operational leasing	Exports	13,542	12,910	3,404	3,336	3,445	3,357	3,015	3,111	3,312	3,472	3,380
	Imports	915	728	354	195	183	183	168	171	197	192	274
Misc. business services³	Exports	19,282	22,126	5,079	5,190	4,230	4,783	4,868	5,100	5,420	6,738	6,635
	Imports	44,952	48,526	10,075	10,564	10,866	13,447	10,256	12,163	11,707	14,400	13,458
Other services n.e.s.	Exports	4,096	3,741	870	930	750	1,546	869	877	993	1,002	303
	Imports	639	687	156	160	159	164	169	171	172	175	181
¹Under the credit item, passenger fare receipts of resident carriers from foreign visitors are excluded; such receipts are included under transport credits - see Background Notes.
²Covers exports and imports of software that were 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.
³Covers mainly advertising and inter-affiliate management charges.

Open in Excel: International Accounts Q1 2019 Table 2.2 (XLS 13KB)

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Table 2.1 Breakdown of Merchandise Exports and Imports												€ million
		2017	2018	2017				2018				2019
Item				Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Quarter 1
Merchandise¹	Exports	197,824	216,307	47,901	47,323	48,977	53,623	51,390	53,698	53,773	57,446	57,145
	Imports	88,705	103,346	22,714	22,777	20,314	22,900	22,331	24,894	25,553	30,568	24,994

International trade	Exports	122,747	140,626	32,172	31,066	28,974	30,535	33,837	35,564	34,090	37,135	38,018
	Imports	80,510	88,611	20,389	21,086	18,005	21,030	19,490	21,245	22,304	25,572	19,803
Goods for processing	Exports	64,962	68,196	16,055	12,600	16,107	20,200	15,979	15,884	17,932	18,401	17,500
	Imports	4,744	11,514	1,516	818	1,473	937	2,300	2,831	2,322	4,061	4,308
Other conceptual adjustments	Exports	358	-1,002	-3,073	1,150	2,079	202	-375	333	-200	-760	-1
	Imports	3,452	3,222	810	873	836	933	541	818	928	935	882
Merchanting (net export)	Exports	9,759	8,488	2,747	2,508	1,817	2,687	1,950	1,916	1,952	2,670	1,628
¹Adjusted for balance of payments purposes.

International Accounts Q1 2019

Goods and Services

Goods and Services

Trade balance of €30.9bn in Q1 2019

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