Dr. Thomas Conefrey:

It will continue to have an impact on the growth flow from the economy, so the growth in goods export figures we see will continue to be heavily impacted by it. The divergence between the export figure in the national accounts that the Deputy quoted, 18% versus what is in the trade statistics, will continue to be there. It will call for a lot of care in interpreting growth figures in the national accounts. The CSO has demonstrated for 2014 that eventually, within the national accounting treatment of this, offsetting royalty imports will occur and the net effect on actual measured growth will wash out over a period. One will continue to need to exercise a lot of caution in interpreting growth export figures for Ireland. They will be impacted by this activity, but the underlying growth numbers that the CSO produces should not give a misleading picture when they eventually settle down.