The current account deficit on the balance of payments fell to its lowest level in four years in the final quarter of 2008, according to new figures from the Central Statistics Office (CSO).
The current account showed a small deficit of €133 million, some €2.6 billion below that for the fourth quarter of 2007.
For 2008 as a whole, the deficit was €8,375 million, over €1.9 billion lower than that for the previous year.
The merchandise surplus of €7,589 million was €2.7 billion higher than one year earlier, while the invisibles deficit at €7,722m was up €116 million.
For the year, the net trade balances for goods and services show that the merchandise surplus of
€26,279m was up €3.8 billion on 2007; the services deficit of €4,844 million was almost €2 billion higher.
Net factor income outflows dropped marginally from €28,608 million in 2007 to €28,484 million last year.
