Exports | Imports | Net Services (right axis) | |
2012 | 8.547347603 | 25.867290431 | -17.319942828 |
2013 | 9.415931591 | 23.509683094 | -14.093751503 |
2014 | 9.039383586 | 26.414850923 | -17.375467337 |
2015 | 13.57745722 | 41.176775894 | -27.599318674 |
2016 | 14.569849044 | 49.490305154 | -34.92045611 |
2017 | 17.712640369 | 47.461017819 | -29.74837745 |
2018 | 20.908693297 | 47.125456723 | -26.216763426 |
Source publication: International Trade in Services 2018
Get the data: StatBank (BPA04)
In the series above, imports of services from the US were consistently greater than exports of services to the US, as shown by the large negative trade in services deficit. This trade in services deficit was at its lowest value in 2016 at €34.9bn but this balance increased in subsequent years due to increases in the exports of business services. In 2018, the trade in services balance stood at a deficit of €26.2bn. On an international scale, the US made up 25% of Ireland's total imports of services in 2018, accounting for the second largest share of Irish services imports after the EU (36%). In terms of exports, the US accounted for 12% of Ireland’s total exports of services in 2018, representing the second largest share of Irish services exports after the EU (45%).
Source publication: International Trade in Services 2018
Get the data: StatBank (BPA04)
In 2018, business services at €26.4bn (56%) made up the majority of services imports from the US. This service category includes: (a) research and development; (b) operational leasing; (c) legal, accounting and other professional services; (d) advertising and market research; (e) trade related services; (f) architectural, engineering and other technical services; and (g) other services. Imports of business services from the US followed an increasing trend until 2016 where the value of these imports peaked at €32.5bn. The following decrease in business services imports was caused by decreases in research and development imports in 2017 of €6.7bn and in 2018 of €2.6bn where the value of research and development imports stands at €13.9bn. Imports of royalties/licenses represented the second largest component at €8.7bn in 2018 and made up 18% of total imports of services from the US (see Table 1.2 for full details).
Services Imports 2018 | |
US | 25.3841968897962 |
UK | 9.6053262374291 |
Other EU | 26.7545395293218 |
Rest ofWorld | 38.2559373434529 |
Services Exports 2018 | |
US | 11.6105888036784 |
UK | 15.7055037567263 |
Other EU | 29.3724351249743 |
Rest ofWorld | 43.311472314621 |
Repairs and Processing | Transport | Tourism and Travel | Insurance | Financial Services | Royalties/Licences | Communications | Computer Services | Other Services n.e.s | Business Services | |
2012 | 0.303803611 | 0.589821564 | 1.042105349 | 0 | 0.074856315 | 0.04 | 12.949258436 | |||
2013 | 0.052 | 0.278033873 | 0.602149392 | 0.745761256 | 3.097653289 | 0.135909902 | 0.068 | 12.13032936 | ||
2014 | 0.153 | 0.443970573 | 0.637006849 | 0.679356904 | 0.163563415 | 0.068 | 15.387703445 | |||
2015 | 0.294 | 0.620713352 | 0.708238686 | 1.524722024 | 4.123166278 | 6.555218736 | 0.029 | 0.226800143 | 0.068 | 27.026314411 |
2016 | 0.645 | 0.686998241 | 0.82799024 | 1.251369716 | 5.116156481 | 8.121658172 | 0.03 | 0.233 | 0.071 | 32.507756308 |
2017 | 0.626634311 | 0.901318508 | 1.247434397 | 5.478959658 | 7.875785831 | 0.039 | 1.91845056 | 28.065565144 | ||
2018 | 0.717577758 | 0.944366039 | 0.744132196 | 5.470521915 | 8.688046387 | 0.01 | 2.859042545 | 26.442141632 |
Please note: in Figure 3.4 some of the services export figures have been supressed for confidentiality reasons, see Table 1.2 for more details.
Source publication: International Trade in Services 2018
Get the data: StatBank (BPA04)
Figure 3.5 depicts the growth in imports of business services from major Irish trade partners. The series on imports of business services from the US increases significantly after 2014, illustrating Ireland’s high growth in imports of business services from the US compared to the UK and EU. The US accounted for 36.6% of total business services imports in 2018.
United States | EU28 | United Kingdom | |
2012 | 12.95 | 13.083 | 4.857 |
2013 | 12.131 | 10.232 | 4.14 |
2014 | 15.388 | 12.701 | 5.339 |
2015 | 27.026 | 15.649 | 5.542 |
2016 | 32.508 | 16.96 | 5.953 |
2017 | 28.065 | 19.765 | 6.429 |
2018 | 26.442 | 23.646 | 8.706 |
Source publication: International Trade in Services 2018
Get the data: StatBank (BPA04)
When breaking business services down into its main components, it is evident that the import of research and development (R&D) services are the largest component in services imports from the US. In 2018, R&D imports were €13.9bn and accounted for 29.5% of total imports of services from the US. Figure 3.6 below illustrates how R&D services imports from the US have become Ireland’s most significant services import since 2012 and growth in business services has largely been driven by increasing trends in R&D services imports. Other business services (which includes consulting, technical and operational leasing services) at €12.6bn, accounted for 27% of total import of services from the US in 2018.
Business Services | of which: R&D | |
2012 | 12.949258436 | 6.131647081 |
2013 | 12.13032936 | 4.171797746 |
2014 | 15.387703445 | |
2015 | 27.026314411 | 17.354229398 |
2016 | 32.507756308 | 23.23528238 |
2017 | 28.065565144 | 16.514729768 |
2018 | 26.442141632 | 13.885828541 |
Please note: in Figure 3.6 above R&D service imports for 2014 have been supressed for confidentiality reasons.
Source publication: International Trade in Services 2018
Get the data: StatBank (BPA04)
The US is Ireland’s largest provider of R&D services, accounting for 61% of Ireland’s total R&D imports in 2018. This significantly outweighs the share of R&D services from the EU28, which accounted for only 10% of Ireland’s total import of R&D services in 2018. The majority of the value of business service imports consists of ongoing payments to intergroup affiliates in the US for the performance of R&D services on their behalf.
Source publication: International Trade in Services 2018
Get the data: StatBank (BPA04)
On a global scale, Ireland’s exports of services to the US are small when compared to the value of services exported to the UK and EU28. Exports of services to the US account for only 12% of Ireland’s total global exports in 2018, representing an increase of 1.5% since 2012. Figure 3.8 shows this increasing trend in exports of services to the US in comparison to other global exports.
Imports of R&D Services 2018 | |
US | 60.6392733941749 |
EU28 | 10.1916946858216 |
Rest of World | 29.1690319200035 |
Total Global Exports | UK | US | EU28 | |
2012 | 81.145 | 15.032 | 8.547 | 44.157 |
2013 | 87.511 | 15.868 | 9.416 | 45.793 |
2014 | 99.889 | 17.884 | 9.039 | 53.045 |
2015 | 120.238 | 21.733 | 13.578 | 61.088 |
2016 | 135.076 | 24.055 | 14.57 | 66.263 |
2017 | 161.831 | 26.279 | 17.713 | 73.502 |
2018 | 180.077 | 28.282 | 20.908 | 81.175 |
Source publication: International Trade in Services 2018
Get the data: StatBank (BPA04)
Figure 3.9 shows the main components which contribute to the increasing trend in exports of services to the US are business services and royalties/licenses (for the use of outcomes of R&D). Exports of business services to the US have grown in recent years to represent a larger share of total global business services exports.
Repairs and Processing | Transport | Tourism and Travel | Insurance | Financial Services | Royalties/Licences | Communications | Computer Services | Business Services | Other services n.e.s | |
2012 | 0.271291858 | 0.660425558 | 1.072884988 | 1.498919113 | 1.572709932 | 0.998083983 | 1.295 | |||
2013 | 0.349568673 | 0.715332794 | 0.997215637 | 1.89129864 | 0.019 | 1.213745232 | 1.576638182 | 0.974 | ||
2014 | 0.396964833 | 0.778970359 | 1.079853795 | 2.407354828 | 1.512546941 | 0.195 | ||||
2015 | 0.514033664 | 1.01335361 | 1.408699133 | 0.789068724 | 3.923634029 | 2.682570831 | 0.788 | |||
2016 | 0.636880712 | 1.123048549 | 1.400896221 | 0.973716826 | 4.554606817 | 0.036 | 2.48087888 | 3.146470019 | ||
2017 | 0.755 | 0.756589974 | 1.270456114 | 1.379852867 | 1.138982976 | 3.09885016 | 0.024 | 2.892517768 | 7.156499644 | -0.762 |
2018 | 0.837 | 0.95488034 | 1.449350133 | 0.995121732 | 1.186187315 | 4.783232993 | 0.021 | 2.969895933 | 9.258303203 | -1.551 |
Please note: in Figure 3.9 some of the services export figures have been supressed for confidentiality reasons, see Table 1.2 for more details.
Source publication: International Trade in Services 2018
Get the data: StatBank (BPA04)
Exports of business services to the US as a percentage of total business services exports grew by 18% from 6% in 2012 to 24% in 2018. In comparison, imports of business services from the US grew as a percentage of total business services imports by 1% from 36% in 2012 to 37% in 2018.
Source publication: International Trade in Services 2018
Get the data: StatBank (BPA04)
Next chapter >> Income Flows
2012 | |
US | 6.25117444409646 |
Rest of World | 93.7488255559035 |
Exports of Business Services 2018 | |
US | 24.3497698882314 |
Rest of World | 75.6502301117686 |
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