Ireland | Total reserves (includes gold, current US$)

Total reserves comprise holdings of monetary gold, special drawing rights, reserves of IMF members held by the IMF, and holdings of foreign exchange under the control of monetary authorities. The gold component of these reserves is valued at year-end (December 31) London prices. Data are in current U.S. dollars. Development relevance: The balance of payments records an economy’s transactions with the rest of the world. Balance of payments accounts are divided into two groups: the current account, which records transactions in goods, services, primary income, and secondary income, and the capital and financial account, which records capital transfers, acquisition or disposal of nonproduced, nonfinancial assets, and transactions in financial assets and liabilities. The current account balance is one of the most analytically useful indicators of an external imbalance. A primary purpose of the balance of payments accounts is to indicate the need to adjust an external imbalance. Where to draw the line for analytical purposes requires a judgment concerning the imbalance that best indicates the need for adjustment. There are a number of definitions in common use for this and related analytical purposes. The trade balance is the difference between exports and imports of goods. From an analytical view it is arbitrary to distinguish goods from services. For example, a unit of foreign exchange earned by a freight company strengthens the balance of payments to the same extent as the foreign exchange earned by a goods exporter. Even so, the trade balance is useful because it is often the most timely indicator of trends in the current account balance. Customs authorities are typically able to provide data on trade in goods long before data on trade in services are available. Limitations and exceptions: Discrepancies may arise in the balance of payments because there is no single source for balance of payments data and therefore no way to ensure that the data are fully consistent. Sources include customs data, monetary accounts of the banking system, external debt records, information provided by enterprises, surveys to estimate service transactions, and foreign exchange records. Differences in collection methods - such as in timing, definitions of residence and ownership, and the exchange rate used to value transactions - contribute to net errors and omissions. In addition, smuggling and other illegal or quasi-legal transactions may be unrecorded or misrecorded. Statistical concept and methodology: The balance of payments (BoP) is a double-entry accounting system that shows all flows of goods and services into and out of an economy; all transfers that are the counterpart of real resources or financial claims provided to or by the rest of the world without a quid pro quo, such as donations and grants; and all changes in residents' claims on and liabilities to nonresidents that arise from economic transactions. All transactions are recorded twice - once as a credit and once as a debit. In principle the net balance should be zero, but in practice the accounts often do not balance, requiring inclusion of a balancing item, net errors and omissions.
Publisher
The World Bank
Origin
Republic of Ireland
Records
63
Source
Ireland | Total reserves (includes gold, current US$)
year value
1960 324568724
1961 342337293.5
1962 359296150.3
1963 406071293.2
1964 446065243.2
1965 409042000
1966 494124756.6
1967 439183008
1968 560314166
1969 691353008
1970 697773321.8
1971 997966352.61944
1972 1139113204.5076
1973 1055313026.4064
1974 1330613397.3936
1975 1575311637.7679
1976 1878730372.3754
1977 2429145979.6768
1978 2769407819.6519
1979 2408210509.7145
1980 3070963707.6579
1981 2793881199.3369
1982 2786359820.3378
1983 2776721568.6825
1984 2463224239.2505
1985 3057068516.5202
1986 3376761437.4838
1987 4970115369.1579
1988 5234202886.902
1989 4201462260.9509
1990 5361690181.8938
1991 5867444594.6954
1992 3559520524.1894
1993 6065811300.8649
1994 6252748204.329
1995 8769756415.9913
1996 8338374031.0667
1997 6630587554.2008
1998 9527216732.64
1999 5376069595.9311
2000 5407973929.9567
2001 5635200931.0206
2002 5475153289.176
2003 4151959058.8056
2004 2907974283.4897
2005 868977916.82646
2006 831899692.26045
2007 925477308.06255
2008 1038963263.2853
2009 2150685637.4695
2010 2113857313.5819
2011 1694805970.7286
2012 1707531869.3149
2013 1635949833.0417
2014 1749390343.4307
2015 2203153449.1223
2016 3589332627.1796
2017 4412516406.9231
2018 5222681912.9372
2019 5732541811.1807
2020 7463044894.5111
2021 13246996093.19
2022 13039213740.694

Ireland | Total reserves (includes gold, current US$)

Total reserves comprise holdings of monetary gold, special drawing rights, reserves of IMF members held by the IMF, and holdings of foreign exchange under the control of monetary authorities. The gold component of these reserves is valued at year-end (December 31) London prices. Data are in current U.S. dollars. Development relevance: The balance of payments records an economy’s transactions with the rest of the world. Balance of payments accounts are divided into two groups: the current account, which records transactions in goods, services, primary income, and secondary income, and the capital and financial account, which records capital transfers, acquisition or disposal of nonproduced, nonfinancial assets, and transactions in financial assets and liabilities. The current account balance is one of the most analytically useful indicators of an external imbalance. A primary purpose of the balance of payments accounts is to indicate the need to adjust an external imbalance. Where to draw the line for analytical purposes requires a judgment concerning the imbalance that best indicates the need for adjustment. There are a number of definitions in common use for this and related analytical purposes. The trade balance is the difference between exports and imports of goods. From an analytical view it is arbitrary to distinguish goods from services. For example, a unit of foreign exchange earned by a freight company strengthens the balance of payments to the same extent as the foreign exchange earned by a goods exporter. Even so, the trade balance is useful because it is often the most timely indicator of trends in the current account balance. Customs authorities are typically able to provide data on trade in goods long before data on trade in services are available. Limitations and exceptions: Discrepancies may arise in the balance of payments because there is no single source for balance of payments data and therefore no way to ensure that the data are fully consistent. Sources include customs data, monetary accounts of the banking system, external debt records, information provided by enterprises, surveys to estimate service transactions, and foreign exchange records. Differences in collection methods - such as in timing, definitions of residence and ownership, and the exchange rate used to value transactions - contribute to net errors and omissions. In addition, smuggling and other illegal or quasi-legal transactions may be unrecorded or misrecorded. Statistical concept and methodology: The balance of payments (BoP) is a double-entry accounting system that shows all flows of goods and services into and out of an economy; all transfers that are the counterpart of real resources or financial claims provided to or by the rest of the world without a quid pro quo, such as donations and grants; and all changes in residents' claims on and liabilities to nonresidents that arise from economic transactions. All transactions are recorded twice - once as a credit and once as a debit. In principle the net balance should be zero, but in practice the accounts often do not balance, requiring inclusion of a balancing item, net errors and omissions.
Publisher
The World Bank
Origin
Republic of Ireland
Records
63
Source