Ireland’s Balance of Payments showed a current account surplus of €15.8bn
Merchandise exports were €85.1bn in the second quarter of 2022, an increase of €17.5bn compared with the second quarter of 2021. Merchandise imports were €36bn in the second quarter of 2022, an increase of €8.5bn compared with the same period in 2021.
Service exports at €81.7bn, increased by €10.9bn compared to the second quarter of 2021. Service imports at €78.7bn were up €13.1bn over the same period in 2021.
The trade balance at €52.1bn, all goods and services exports less all goods and services imports, increased by €6.7bn in the second quarter of 2022 over the same period in 2021.
The overall income balance for the quarter at -€36.2bn decreased by €7.2bn compared with the same period in 2021.
Direct investment into Ireland decreased by €33.9bn in the second quarter of 2022 while direct investment abroad decreased by €9.5bn in the quarter.
The stock of FDI assets held in Ireland by foreign investors increased by €51.8bn in the quarter to €1,288.1bn. FDI assets held abroad by Irish investors decreased by €76.2bn in the quarter to €1,099.7bn.
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Statistician's Comment
The Central Statistics Office (CSO) today (2 September 2022) released the International Accounts results for Quarter 2, 2022.
Commenting on the release, Jennifer Banim, Assistance Director General with responsibility for Economic Statistics said:
In the International Accounts, the Current Account of the Balance of Payments recorded a surplus of €15.8 billion in flows with the rest of the world in Q2 2022, a dis-improvement of €0.5 billion compared with the surplus of €16.4 billion in Q2 2021. The Merchandise balance improved by €8.9 billion in Q2 2022 compared to the same quarter in 2021 while the Services balance disimproved by €2.2 billion. Net outflows of multinational profits were €29.3 billion in the quarter, an increase of €5.3 billion on Q2 2021 levels.”