Market Update: Northern Ireland Economic Trade Statistics 2024 & Northern Ireland Annual Business Inquiry 2024 – Full Analysis

Date published:
11 March 2026

The bulletins can be accessed via the NISRA website (NIETS: https://www.nisra.gov.uk/statistics/business/ni-economic-trade; ABI: https://www.nisra.gov.uk/statistics/business/annual-business-inquiry)

Headline Results – NIETS

• A strong trading performance was reported by NI businesses during 2024 with total sales reaching a survey record high. All destinations experienced an increase in total sales and total purchases over the year, with the exception of purchases from GB and REU, which fell by 4.6% and 5.0% respectively, mostly driven by a fall in the purchases of goods.
• For both sales and purchases the trends were similar. NI remained our largest trade market, followed by GB, with Ireland being our largest trading partner outside the UK.

Trade Balance

• While trade balance usually refers to the difference between exports and imports, it is possible to derive a balance of trade for any domain of interest for which both sales and purchases data exist.
• Total sales considerably exceeded total purchases, by a difference of £42.4 billion. This was mainly driven by trade within NI where sales were worth £69.5 billion and purchases were worth £39.3 billion, resulting in a surplus of £30.2 billion. NI had a trade surplus (i.e. we sold more than we purchased) with all trade partners. Great Britain (GB) had a surplus of £3.8 billion, Ireland (IE) of £6.4 billion, Rest of Europe (REU) of £0.9 billion and with Rest of the World (ROW) of £1.1 billion.

Further analysis of the individual trade components is presented below.

Total sales were worth £109.3 billion in 2024

• Total sales by NI companies increased by 7.5% (£7.6 billion) from £101.7 billion in 2023 to £109.3 billion in 2024. This is the largest value of total sales on survey record.

Total value of external sales increased by 14.4%

• The total value of external sales by NI companies was estimated to be worth £39.8 billion in 2024. This represents an increase of 14.4% (£5.0 billion) over the year in current prices, compared to an increase in the previous year of 20.8%.
• External sales are comprised of:
• Sales to Great Britain (GB) plus
• Exports (sales to Ireland (IE), the Rest of Europe (REU) and the Rest of the World (ROW)). ROW refers to all other destinations outside the EU, GB and NI.
• Sales to GB increased by £2.5 billion to £20.1 billion in 2024, up 14.2% over the year.
• Exports (see explanation above) increased by £2.5 billion (14.5%) over the year, to £19.6 billion.

Ireland remains our single largest export market 

• Exports to Ireland amounted to £10.5 billion in 2024 and were higher than the combined total of sales to the Rest of the EU (£3.6 billion) and sales to Rest of World (£5.5 billion). Exports to Ireland increased by £1.7 billion (19.6%) in 2024.
• Exports to the REU (EU, excluding IE) increased over the year by £0.7 billion (23.5%) to £3.6 billion.
• Exports to the ROW (see explanation above) increased by £0.1 billion (1.5%) over the year to £5.5 billion.

Sales within Northern Ireland increased by 3.9%

• Sales within NI increased by £2.6 billion between 2023 and 2024 to £69.5 billion, a rise of 3.9% over the year.

Trade in Goods and Services with Individual Trade Partners

Trade within Northern Ireland accounted for 63.6% of total sales and 58.8% of total purchases

• Sales of goods and services within Northern Ireland made up 63.6% (£69.5 billion) of total sales (£109.3 billion). Of this, 64.8% (£45.0 billion) related to the sale of goods and 35.2% (£24.5 billion) to the sale of services.
• Purchases of goods and services from within NI made up 58.8% (£39.3 billion) of total purchases (£66.8 billion). Of this 77.0% (£30.5 billion) was purchases of goods and 22.3% (£8.8 billion) was purchases of services.

Trade with Great Britain accounted for 18.4% of total sales and 24.5% of total purchases

• Sales of goods and services to Great Britain made up 18.4% (£20.1 billion) of total sales (£109.3 billion). Of this, 54.0% (£10.9 billion) related to the sale of goods and 46.0% (£9.3 billion) to the sale of services.
• Purchases of goods and services from GB made up 24.5% (£16.4 billion) of total purchases (£66.8 billion). Of this 79.2% (£12.9 billion) was purchases of goods and 20.8% (£3.4 billion) was purchases of services.

Trade with Ireland accounted for 9.6% of total sales and 6.1% of total purchases

• Sales of goods and services to Ireland made up 9.6% (£10.5 billion) of total sales (£109.3 billion). Of this, 74.2% (£7.8 billion) related to the sale of goods and 25.8% (£2.7 billion) to the sale of services.
• Purchases of goods and services from Ireland made up 6.1% (£4.1 billion) of total purchases (£66.8 billion). Of this 77.6% (£3.2 billion) related to the import of goods and 22.4% (£0.9 billion) to the import of services.

Trade with Rest of EU made up 3.3% of total sales and 4.0% of total purchases

• Sales of goods and services to Rest of EU made up 3.3% (£3.6 billion) of total sales (£109.3 billion). Of this, 70.6% (£2.6 billion) related to the sale of goods and 29.4% (£1.1 billion) to the sale of services.
• Purchases of goods and services from REU made up 4.0% (£2.7 billion) of total purchases (£66.8 billion). Of this 83.5% (£2.2 billion) related to the import of goods and 16.5% (£0.4 billion) to the import of services.

Trade with Rest of World made up 5.1% of total sales and 6.6% of total purchases

• Sales of goods and services to Rest of World made up 5.1% (£5.5 billion) of total sales (£109.3 billion). Of this, 57.5% (£3.2 billion) related to the sale of goods and 42.5% (£2.4 billion) to the sale of services.
• Purchases of goods and services from ROW made up 6.6% (£4.4 billion) of total purchases (£66.8 billion). Of this 80.1% (£3.5 billion) related to the import of goods and 19.9% (£0.9 billion) to the import of services.

Headline Results – ABI

Key Points

• The NIETS uses figures from the ABI within its publication, namely the turnover (i.e. sales) and purchases estimates for NI businesses. As reported under the NIETS headline results above, turnover (i.e., the value of total sales and work done) in the NI non-financial business economy as a whole increased by £7.6 billion (7.5%) over the year to £109.3 billion and purchases of goods, materials, energy, water and services increased by £3.0 billion (4.7%) to £66.8 billion.
• In 2024, the income generated by non-financial businesses in Northern Ireland (NI), less the cost of goods and services used to create this income, was estimated to be £43.6 billion. This amount represents the approximate Gross Value Added (aGVA) at basic prices of the NI non-financial business economy, excluding farming and financial services.

Change between 2023-24

• The NI non-financial business economy, as measured by the Northern Ireland Annual Business Inquiry (NIABI), recorded an increase of £3.8 billion (9.6%) in aGVA from 2023 to 2024.
• The key driver of aGVA growth was the Construction sector (Section F) which increased by £1.7 billion (30.7%) between 2023 and 2024 while the Distribution sector (Section G) also showed a large increase in aGVA of £1.3 billion (14.5%) from £9.0 billion to £10.3 billion.

Other Releases

• Economic and Labour Market Statistics Branch will also release the following publications in March 2026:
• Labour Market Report on 19 March
• Index of Production on 19 March
• Index of Services on 19 March
• Northern Ireland Composite Economic Index on 26 March