The surplus on Ireland's balance of international payments stood at €3.8 billion, or 8.2 per cent of GDP in the third quarter of 2014, according to new figures from the Central Statistics Office (CSO).

This compares to a surplus of €2.6 billion, or 6 per cent of GDP for the same quarter a year ago.

The balance of payments figures include earnings for exports and payments for imports, as well as income accruing to Irish residents from their foreign assets and income payments to foreigners from their Irish assets.

The figures show a surplus of €12.3 million on merchandise was offset by a deficit of €8.5 million on so-called “invisibles” in the third quarter.

Compared with the third quarter of 2013, merchandise exports at €27.3 million were up €4.14 million while imports at €14.9 million were up €1,37 million.

Service exports increase by €3 million to €27.7 million, due to increased business and computer services exports. Imports rose by €4.39 million to €26.5 million, which the CSO attributed to a rise in royalties and licences payments.

Investment income earned abroad rose by €2.51 million to €16.2 million while investment income payable to foreign investors increased by €2.81 million to €23.4 million.

The figures show direct investment abroad increase by €21.3 million in the third quarter while equity and reinvested earnings rose by €16.7 million.

Direct investment in Ireland was up €13.8 million in the three months under review.