Ireland Current Account Narrows Sharply in Q1

The current account surplus in Ireland narrowed to EUR 5.8 billion in Q1 2025, downwardly revised from a preliminary release of EUR 6.6 billion and sharply lower than the EUR 17.9 billion recorded a year earlier, marking the smallest surplus since Q4 2023.

The services balance swung to a EUR 0.4 billion deficit from a EUR 14.9 billion surplus in the same quarter last year, while the primary income deficit widened significantly to EUR 67.0 billion from EUR 34.9 billion.

In contrast, the goods surplus nearly doubled to EUR 74.2 billion from EUR 39.1 billion.

The secondary income deficit narrowed slightly to EUR 1.0 billion from EUR 1.2 billion.