Ireland’s Trade in Services recorded a surplus of €0.6bn in 2021 up €72.3bn from a deficit of €71.7bn in 2020.
Total service exports increased by €38.9bn while total service imports decreased by €33.4bn in 2021.
US, UK, Germany and the Netherlands remained Ireland’s most significant trading partners.
Exports to Europe rose by €18.9bn to €150.7bn mainly due to increased computer service exports while exports to the US grew by €7.9bn to €41.1bn due to increased computer and business services exports in 2021.
Imports from Europe rose by €8.2bn to €75.7bn due to increased business and financial services imports while imports from the US rose by €40.2bn to €143.7bn due to a growth in royalty imports in 2021.
Computer services exports at €172.9bn remained the largest export category and Royalties/Licences service imports at €112.8bn was still the largest import category.
International Trade in Services | € million | ||||||
2020 | 2021 | ||||||
Exports | Imports | Net | Exports | Imports | Net | ||
Total | 254,750 | 326,465 | -71,715 | 293,629 | 293,052 | 577 | |
of which: | |||||||
USA | 33,230 | 103,427 | -70,197 | 41,117 | 143,667 | -102,550 | |
UK | 39,006 | 23,909 | 15,097 | 40,241 | 23,405 | 16,836 | |
Germany | 17,512 | 6,004 | 11,508 | 21,174 | 7,075 | 14,099 | |
Netherlands | 10,814 | 9,194 | 1,620 | 12,972 | 12,497 | 475 |
Exports | Imports | |
Europe | 150687 | 75697 |
North America | 44002 | 144642 |
Asia | 61923 | 27247 |
Other | 37017 | 45466 |
Total service exports increased by €38.9bn from €254.8bn in 2020 to €293.6bn in 2021. Total service imports decreased by €33.4bn from €326.5bn in 2020 to €293.1bn in 2021. The increase in service exports was principally due to increased computer service exports (+€35.4bn) while the decrease in service imports was predominantly due to decreased R&D service imports related to Intellectual Property (IP) (-€79.4bn). As a result, the services balance moved from a deficit of €71.7bn in 2020 to a surplus of €0.6bn in 2021. US, UK, Germany and the Netherlands remain Ireland’s most significant trading partners.
Computer services exports at €172.9bn remained the largest export category and accounted for 59 per cent of total service exports in 2021. Royalties/Licences service imports, at €112.8bn, along with R&D service imports at €46bn, were the largest import categories. When combined, these two import categories accounted for 54.2 per cent of total service imports in 2021 (see Table 1).
Service exports to Europe (€150.7bn) increased by €18.9bn between 2020 and 2021 due mainly to increased Computer service exports (+€16.5bn). The increased Computer service exports were predominantly to Germany (+€3bn), the UK (+€2.6bn), the Netherlands (+€1.1bn) as well as France and Switzerland (+€1bn) respectively. (see Tables 2a & 2b).
Service exports to the US (€41.1bn) increased by €7.9bn in the same period, mainly in Other Business services (+€3.3bn) and Computer Services (+€2.1bn). Service exports to Japan (€11.5bn) and China (€9.4bn) increased by €1.4bn and €1.5bn respectively.
Services imports from Europe (€75.7bn) increased by €8.2bn between 2020 and 2021 mainly due to increased Other Business services imports (€4.7bn) and Financial services imports (€1.2bn). Service imports from Netherlands,Belgium, Switzerland and Germany increased by €3.3bn, €1.8bn, €1.2bn. and €1.1bn respectively.
In the same period, service imports from the US (€143.7bn) increased by €40.2bn due to increased Royalty imports (€37bn), while service imports from Offshore centres (€30.8bn) decreased by €76.1bn.
2021 | |
Luxembourg | 321.2 |
Malta | 229.9 |
Ireland | 137.6 |
Cyprus | 122.5 |
Belgium | 46.1 |
Denmark | 44.9 |
Switzerland | 36.6 |
Netherlands | 34.9 |
Greece | 31.5 |
Austria | 28.4 |
Hungary | 25.5 |
European Union - 27 | 25.9 |
Portugal | 20.5 |
Germany | 18.2 |
France | 17.1 |
Spain | 13.6 |
Italy | 10.5 |
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Statistician's Comment
The Central Statistics Office (CSO) today (08 December 2022) released the International Trade in Services 2021.
Commenting on the release, Annette Hayes, Statistician in the International Accounts Division said: "Ireland’s Trade in Services recorded a surplus of €0.6bn in 2021 up €72.3bn from a deficit of €71.7bn in 2020. This surplus was largely due to an increase in computer service exports of €35.4bn and a decrease in Research & Development (R&D) service imports related to Intellectual Property (IP) of €79.4bn. The US, UK, Germany and the Netherlands remained Ireland’s most significant trading partners".