Dáil Éireann - Volume 336 - 23 June, 1982

Written Answers. - Balance of Payments.

458. Mr. J. Bruton asked the Minister for Finance the balance of payments deficit in 1980 and 1981 and the likely outturn for 1982 as a proportion of GNP; and if he will give equivalent information for other EEC countries.

Minister for Finance (Mr. MacSharry): The information requested in respect of Ireland is as follows:

[1319]

1980

1981

Balance of payments def- icit as a percentage of GNP

-8½

-12¾

(estimate)

The Deputy will appreciate that it is not possible at this stage of the year to forecast the likely outturn for 1982 because of the difficulty of quantifying the impact of the many factors which will influence the development of GNP and the flow of trade and other external payments over the remainder of the year.

As regards other EEC countries, estimates of the balance of payments deficit as a percentage of GNP are not readily available. Such estimates are, however, available in terms of GDP and, together with the equivalent data in respect of Ireland, they are as follows:

Balance of Payments Deficit as Percentage of GDP

1980

1981 (estimate)

Belgium

-5¼

-6½

Denmark

-3½

-3

France

-1¼

-1½

Germany

-1¾

-1¼

Greece

-1

-4

Ireland

-8¼

-12½

Italy

-2½

-2

Luxembourg

+26

+19¾

Netherlands

-1½

+2

U.K.

+1½

+2¼

(+ denotes a surplus)

As regards 1982, I have not available to me at present any published forecasts of the 1982 balance of payments outturn for other EEC countries prepared by the Government concerned except the UK, the relevant figure for which is a surplus of 1½ per cent of GDP.