Friday, September 07 11:07:56
Total service exports increased by E7.1bn from E74.3bn in 2010 to E81.4bn in 2011, a report from the CSO showed today.
Service imports also increased over the same period. However the E2.3bn increase in service imports from E81.0bn in 2010 to E83.3bn in 2011 was not as significant as the rise in service exports. As a result, the service deficit decreased from E6.6bn to E1.8bn in 2011 - the lowest since 2007 when the recorded service deficit was E1.1bn.
Computer services at E31.8bn was the largest export category and accounted for 39 per cent of total service exports in 2011.
The residual category Other Business services (E34.6bn) was the largest category of service imports.
Combined with Royalties/Licences (E29.2bn) both categories together accounted for 77 per cent of service imports in 2011.
Service exports to Switzerland increased by E2bn between 2010 and 2011, mainly in the Other Business services category.
Exports to Sweden and Italy were each up E0.5bn, mainly in Computer services (+E0.4bn) for Sweden and across a number of categories for Italy, including Insurance (+E0.2bn),
Financial services (+E0.1bn) and Computer services (+E0.1bn).
Service imports from Netherlands and Belgium increased by E1.4bn and E0.7bn respectively between 2010 and 2011, while imports from Bermuda fell by E1bn.
Imports from the US at E24.9bn are almost unchanged compared with 2010, with decreases for Advertising and Market Research (down E2.3bn) offset by increases for Management services between affiliates (up E2.2bn) and Research and Development (up E0.3bn).