Thursday, September 19 11:22:13
Ireland's Balance of Payments current account surplus held steady in the second quarter as a dip in goods exports was offset by a surge in service exports, latest CSO data shows.
The Balance of Payments current account surplus in the second quarter of 2013 was E2,900m - similar to the E2,869m surplus in the second quarter of 2012.
A surplus of E9,789m on merchandise was offset by a deficit of E6,890m on invisibles in the quarter.
Compared with the second quarter of 2012, merchandise exports at E21,738m were down E224m while merchandise imports at E11,949m were almost unchanged.
Services exports at E24,071m were up E1,075m mainly due to increased computer services exports. Service imports increased by E1,094m to E22,559m driven by increases in royalties/licences payments and imports of miscellaneous business services.
Investment income earned abroad of E13,993m decreased by E899m compared with one year earlier while investment income payable to foreign investors at E21,648m decreased by E1,294m.
Direct investment in Ireland increased by E5,887m in the second quarter of 2013, due largely to an increase in reinvested earnings of E4,513m.
Within Portfolio investment, increased investment in overseas equity of E9,861m was partly offset by increased investment in Irish equity of E5,200m in the quarter.
Other investment assets decreased by E16,492m in the second quarter of 2013 mainly due to a decrease in loans, currency and deposits of E18,245m.
Other investment liabilities decreased by E16,517m in the quarter.