FX.co ★ Ireland Current Account Narrows Sharply in Q1

In the first quarter of 2025, Ireland's current account surplus shrank to EUR 5.8 billion, a downward revision from the initially reported EUR 6.6 billion and a stark decrease from the EUR 17.9 billion recorded in the same period the previous year, signifying the smallest surplus since the fourth quarter of 2023. The services balance shifted to a EUR 0.4 billion deficit from a EUR 14.9 billion surplus seen in the corresponding quarter of the prior year. Meanwhile, the primary income deficit widened dramatically to EUR 67.0 billion from EUR 34.9 billion. On a brighter note, the goods surplus almost doubled, reaching EUR 74.2 billion compared to EUR 39.1 billion. Additionally, the secondary income deficit experienced a slight narrowing, reducing to EUR 1.0 billion from EUR 1.2 billion.