Current Account in Ireland

Ireland Current Account (EUR bn) | Economic News & Forecasts

Ireland - Current Account (billions of Euros)

After contracting in Q4, the economy is likely to have rebounded in Q1 in sequential terms. Most Covid-19 restrictions were scrapped in January, boosting spending and easing disruptions to labor supply. Retail sales growth plus the manufacturing and services PMIs averaged higher in Q1 than in Q4. That said, rising energy price pressures will have hurt consumer spending and the external balance; import growth averaged higher in Q1 relative to Q4, and consumer confidence was down sharply in March. Some support to growth will have come from the government’s EUR 505 million relief package in February and a fuel excise cut in March. Heading into Q2, activity is likely to weaken. Harmonized inflation reached record highs in April, while consumer confidence continued to slip in April–May. Additionally, supply bottlenecks and weakening foreign demand pushed the manufacturing PMI down in April.

Ireland - Current Account (EUR bn) Data

2015   2016   2017   2018   2019  
Current Account Balance (EUR bn)11.6  -11.4  1.5  34.3  -32.8  

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Ireland Current Account (EUR bn) Chart

Ireland Current Account
Note: Current account balance as % of GDP.
Source: Central Statistics Office Ireland and FocusEconomics calculations.

Ireland Facts

Value Change Date
Bond Yield-0.090.27 %Jan 01
Exchange Rate1.120.65 %Dec 31

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