strsubcodechain Ireland Balance of Payments - Data and Methods
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Subjects > Balance of Payments > Ireland

Country: Ireland Subject: Balance of Payments

IRL.BP.......
Contact person/organisation
This survey system was redesigned in 1998 to comply with BPM5 requirements.

Data source(s) used
Ireland's balance of payments statistics are compiled from a combination of results of surveys carried out by the BOP section of the Central Statistics Office, data from administrative sources and statistics generated by other sections of the CSO. A number of new quarterly surveys were introduced in 1998. Thus, data from 1998 are not comparable with data prior to this.

Direct source
Central Statistical Office of Ireland

Source Periodicity
Quarterly.

Source metadata
The methodology is described in each issue of the quarterly publication of the Central Statistics Office: "Statistical Bulletin".

Unit of measure used
The Balance of Payments are disseminated in millions of Euros.

Link to Release calendar
link : www.imf.org

Geographic coverage
All of Eire.

Seasonal adjustment
Data refer to the end of period. OECD performs the seasonal adjustment using an option which ensures that the seasonally adjusted quarterly figures add to the corresponding unadjusted annual data.

Other manipulations
Annual data are sum of quarterly figures. Data prior to entry into EMU (prior to 1999) have been converted from the former national currency using the appropriate irrevocable conversion rate. The presentation facilitates comparisons within a country over time and ensures the historical evolution (i.e. growth rates) is preserved. However, pre-EMU euro are a notional unit and are not normally suitable to form area aggregates or to carry out cross-country comparisons.

Quality comments
BOP surveys are statutory and are conducted under the Statistics Order 1996 made under the Statistics Act, 1993. Merchandise import are valued c.i.f. and exports are valued f.o.b. BOP adjustments made to the basic export and import figures include the exclusion of temporary and redirected transactions; estimation for unrecorded trade and the addition to exports of some sales of software licencies excluded before.

A number of new quarterly surveys were introduced in 1998. Thus, data from 1998 are not comparable with data prior to this.


Country: Ireland Subject: Balance of Payments > Current Account Balance

IRL.BPBL.......
Other manipulations
Data presented in US dollars are obtained by converting the quarterly figures expressed in national currency using the quarterly average exchange rate.


Country: Ireland Subject: Balance of Payments > Current Account Balance > Income > Total

IRL.BPBLIN01.......
Name of collection/source
Information on investment income is obtained partly from surveys of companies and partly from official records.

Other coverage
Data cover earnings of persons working outside their country of residence for less than one year, earnings of local staff working in embassies and consulates, direct investment income earned and receipts and payments of other investment income.

Key statistical concept
'Net income' refers to the items 'Remuneration of employees' and 'investment income'.


Country: Ireland Subject: Balance of Payments > Current Account Balance > Services > Total

IRL.BPBLSE01.......
Name of collection/source
Information is obtained from surveys of the companies concerned. Figures for tourism and travel are obtained from the Passenger Card Inquiry.

Key statistical concept
Net services refer to the items 'International freight', 'Passenger fare receipts', 'Other transportation', 'Tourism and travel', 'Royalties, licences' and 'Other services'.

Other manipulations
Annual data are sum of quarterly data.

Quality comments
'International freight' includes the total receipts, from Irish residents and from non-residents, of Irish sea and air carriers in connection with the importation of goods to Ireland and the total receipts of these carriers from non-residents for all other international shipments of freight. 'Passenger fare receipts' includes the total foreign receipts, inclusive of catering services receipts, of Irish sea and air carriers from non-residents in connection with the carriage of passengers whether on scheduled services or on charter services other than time charters. 'Other transportation' includes the time charter receipts and payments of Irish sea and air carriers, all other foreign receipts and payments of these carriers and the bunkering, portal and other expenditure in Ireland on non-resident carriers.


Country: Ireland Subject: Balance of Payments > Current Account Balance > Trade: goods > Total

IRL.BPBLTD01.......
Other manipulations
The trade balance is adjusted by the Central Statistical Office for balance of payments purposes. Estimates are made of unrecorded trade, particularly cross-border trade.

Quality comments
Temporary and redirected transactions are omitted, since ownership of the goods concerned does not change as between residents of Ireland and non residents; a similar adjustment is made in respect of transfers of EU agricultural intervention goods to stores abroad and of sales from those stores.


Country: Ireland Subject: Balance of Payments > Current Account Balance > Transfers > Total

IRL.BPBLTF01.......
Name of collection/source
Information on current transfers comes mainly from official sources.

Key statistical concept
International transfers cover the cash remittances and legacies of emigrants together with the entry required to account for the value of assets of emigrants. It also includes non-contractual pensions and allowances by the Irish government to non-residents; subsidies and other transfers received from and taxes paid to the European Union; and all other receipts and payments which are considered current transfers.


Country: Ireland Subject: Balance of Payments > Current Account Balance > Total > Total

IRL.BPBLTT01.......
Key statistical concept
The current account balance corresponds to the sum of net trade, international freight, other transportation, tourism and travel, other services, remuneration of employees, trading and investment income and international transfers.


Country: Ireland Subject: Balance of Payments > Capital and Financial Accounts > Total (BPM5) > Incl. change in official reserves

IRL.BPCFTT01.......
Key statistical concept
Data refer to capital and financial accounts.


Country: Ireland Subject: Balance of Payments > Net Errors and Omissions > Total > Total

IRL.BPEOTT01.......
Key statistical concept
This is the balancing item on the current account and the capital and financial accounts.


Country: Ireland Subject: Balance of Payments > Financial Account > Other investment

IRL.BPFAOI.......
Other coverage
From 2000, financial derivatives are not included in other investment.


Country: Ireland Subject: Balance of Payments > Financial Account > Change in reserve assets > Excluding valuation assets

IRL.BPFARA02.......
Key statistical concept
This item shows the net change in the official external reserves.