Irish current account surplus narrowed slightly to EUR 11.16 billion in the third quarter of 2019 from EUR 11.427 billion a year earlier. The services account switched to a EUR 313 million deficit from a EUR 528 million surplus, mainly due to higher imports of royalties (EUR 3,378 million) and business services (EUR 4,101 million). Service exports at EUR 53,670 million increased by EUR 7,666 million, mainly due to higher computer services exports. Service imports at EUR 53,983 million were up EUR 8,507 million. Also, the income deficit widened to EUR 20,924 million from EUR 20,219 million and the secondary one increased to EUR 811 million from EUR 717 million. On the other hand, the goods surplus went up to EUR 33,208 million from EUR 28,220 million, as exports rose more than imports. Sales went up by EUR 3,261 million to EUR 57,034 million and imports increased by EUR 1,727 million to EUR 23,826 million, mainly due to lower imports of aircraft. Current Account in Ireland averaged -155.05 EUR Million from 1981 until 2019, reaching an all time high of 14395 EUR Million in the third quarter of 2017 and a record low of -31759 EUR Million in the second quarter of 2017. source: Central Statistics Office Ireland

Current Account in Ireland is expected to be 4750.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Ireland to stand at 12300.00 in 12 months time. In the long-term, the Ireland Current Account is projected to trend around 2960.00 EUR Million in 2020, according to our econometric models.

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Ireland Current Account

Actual Previous Highest Lowest Dates Unit Frequency
11160.00 -26538.00 14395.00 -31759.00 1981 - 2019 EUR Million Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2019-03-14 11:00 AM Q4 €0.2B €9.1B €5.8B
2019-07-11 10:00 AM Q1 €11B €1B €4.9B
2019-09-13 10:00 AM Q2 €-26.5B €11B €5.4B
2019-12-13 11:00 AM Q3 €11.2B €-26.5B €12.5B
2020-03-13 11:00 AM Q4 €11.2B € 11.2B

News Stream
Ireland Current Account Swings to Deficit in Q2
Luxembourg posted a current account gap of EUR 26.5 billion in the second quarter of 2019 from a EUR 10.6 billion surplus in the corresponding period of the previous year. The services shortfall widened sharply to EUR 33.4 billion from EUR 0.99 billion a year ago while the primary income gap increased to EUR 20.7 billion from EUR 16.3 billion. Meanwhile, the secondary income deficit fell to EUR 0.58 billion from EUR 0.99 billion.

Irish Current Account Surplus Narrows in Q1
Irish current account surplus narrowed to EUR 10,990 million in the first quarter of 2019 from EUR 11,325 million a year earlier. The services gap rose to EUR 1,224 million from EUR 0,151 million in the first quarter of 2018; the primary income shortfall widened to EUR 18,682 million from EUR 16,681 million and the secondary income deficit increased to EUR 1,256 million from EUR 0,902 million. On the other hand, the merchandise surplus advanced to EUR 32,151 million from EUR 29,060 million.

Irish Current Account Surplus Smallest since 2002
Irish current account surplus narrowed sharply to EUR 0,178 million in the fourth quarter of 2018 from EUR 9,411 a year earlier. It was the smallest current account surplus since the third quarter of 2002, as the merchandise surplus declined to EUR 27,262 million from EUR 30,147 million and the services gap rose to EUR 7,632 million from EUR 4,034 million. Additionally, the primary income shortfall widened to EUR 18,279 million from EUR 15,613 million and the secondary income deficit increased to EUR 1,173 million from EUR 1,089 million. Considering full 2018, the current account surplus went up to EUR 28,996 million from EUR 24,924 million in 2017.

Ireland Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

Ireland Trade Last Previous Highest Lowest Unit
Balance of Trade 5976900.00 5972100.00 6510500.00 -280890.00 EUR Thousand [+]
Current Account 11160.00 -26538.00 14395.00 -31759.00 EUR Million [+]
Current Account to GDP 10.60 0.50 10.60 -13.40 percent [+]
Imports 6707900.00 8297200.00 8990200.00 62344.00 EUR Thousand [+]
Exports 12684800.00 14269300.00 14269300.00 44885.00 EUR Thousand [+]
External Debt 2537774.00 2386930.00 2537774.00 521792.00 EUR Million [+]
Terms of Trade 106.20 107.00 138.10 86.10 points [+]
Capital Flows -6995.00 -54879.00 17417.00 -93013.00 EUR Million [+]
Tourist Arrivals 3334.40 3021.80 3334.40 254.00 Thousand [+]
Gold Reserves 6.00 6.00 6.00 5.47 Tonnes [+]
Terrorism Index 2.69 3.05 3.66 0.04 [+]
Foreign Direct Investment -12705.00 7424.00 145874.00 -44687.00 EUR Million [+]