Current Account in Ireland

Ireland Current Account | Economic News & Forecasts

Ireland - Current Account

Following strong growth in Q2, underlying economic dynamics seemed favorable in Q3, although headline GDP figures will be constrained by a tougher base effect and affected by distortions caused by multinationals. Significant accumulated savings, lower unemployment, greater consumer confidence and looser Covid-19 restrictions likely allowed for a robust expansion of private consumption, as suggested by solid retail sales growth. Nonetheless, supply bottlenecks will have limited activity to an extent, with the manufacturing PMI down slightly on Q2, while harmonized inflation rose to a 13-year high in September, likely denting consumers’ purchasing power. Turning to Q4, both the services and manufacturing PMIs were elevated in October. However, rising Covid-19 cases forced a reintroduction of some restrictions in November, which, along with surging inflation, could be taking the edge off activity.

Ireland - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)4.4  -4.2  0.5  10.7  -9.5  

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Ireland Current Account 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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