Ireland’s Balance of Payments showed a current account surplus of €18.2 billion in Quarter 4 (Q4) 2024 (see table 1.3).
Merchandise exports were €92.1 billion in Q4 2024, an increase of €20.9 billion compared with Q4 2023. Merchandise imports were €37.7 billion in Q4 2024 down €3.9 billion compared with the same period in 2023.
Service exports at €129.7 billion, grew by €20.2 billion compared with Q4 2023. Service imports at €125 billion were up €8.1 billion over the same period in 2023.
The trade balance at €59.2 billion, all goods and services exports less all goods and services imports, increased by €36.9 billion in Q4 2024 over the same period in 2023.
The overall income balance for Q4 2024 was -€40.1 billion, a decrease of €18.1 billion compared with the same period in 2023.
Direct investment into Ireland decreased by €24.3 billion in Q4 2024 and direct investment abroad decreased by €11.6 billion in the quarter (see table 1.4).
The stock of Foreign Direct Investment (FDI) assets held in Ireland by foreign investors grew by €66.0 billion in Q4 2024 to €1,126.6 billion. FDI assets held abroad by Irish investors were up by €147.5 billion in the quarter to €1,326 billion (see table 7.2).
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Statistician's Comment
The Central Statistics Office (CSO) today (06 March 2025) published the International Accounts results for Quarter 4 (Q4) 2024.
Commenting on the release, Chris Sibley, Assistant Director General with responsibility for Economic Statistics said:
"In the International Accounts, the Current Account of the Balance of Payments recorded a surplus of €18.2 billion in flows with the rest of the world in Q4 2024, an improvement of €18.6 billion compared with the deficit of €520 million recorded in Q4 2023. The Merchandise balance improved by €24.8 billion in Q4 2024 compared with the same quarter in 2023 while the Services balance improved by €12.1 billion. Net outflows of multinational profits were €37.7 billion in the quarter, an increase of €20.1 billion on the net outflows recorded in Q4 2023 (which dis-improves the Current Account balance).
Today’s International Accounts release includes a table of Current Account transactions with the UK. The results show a surplus of €3.4 billion for Trade in Goods & Services with the UK in Q4 2024, up €944 million on the Q4 2023 trade balance. The trade surplus in Q4 2024 was offset by a deficit of €8.8 billion for net income flows, giving an overall Current Account deficit with the UK of €5.4 billion in the quarter.”
More Commentary is available in the Press Release also issued today Press Statement.