Northern Ireland businesses achieved record-breaking sales of £109.3 billion in 2024, marking a 7.5% increase from the previous year and the highest total since records began. The figures, published by the Northern Ireland Statistics and Research Agency (NISRA) on 11 March 2026, reveal that external sales surged by 14.4% to £39.8 billion, with exports growing by 14.5% to £19.6 billion.
The data capture trade in both goods and services across the non-financial business economy, revealing trade surpluses with every major trading partner including Great Britain, Ireland, the rest of the EU, and the rest of the world. Economy Minister Dr Caoimhe Archibald welcomed the statistics as evidence of business resilience amid global volatility.
Record-breaking performance across all markets
The Northern Ireland Economic Trade Statistics 2024 reveal that sales within Northern Ireland accounted for the majority of activity at £69.5 billion (63.6% of total sales), representing a 3.9% increase year-on-year. External markets, however, drove much of the growth.
Key figures include:
- Total sales: £109.3 billion (up 7.5% from £101.7 billion in 2023)
- Sales to Great Britain: £20.1 billion (up 14.2%)
- Exports to Ireland: £10.5 billion (up 19.6%)
- Exports to rest of EU: £3.6 billion (up 23.5%)
- Trade surplus with Ireland: £6.4 billion
- Trade surplus with Great Britain: £3.8 billion
The accompanying Annual Business Inquiry 2024 shows approximate Gross Value Added (aGVA) – a measure of economic contribution – rose by 9.6% to £43.6 billion, driven largely by a 30.7% jump in the construction sector and a 14.5% increase in the distribution sector.
Minister highlights dual market access
Dr Archibald praised the business community’s export-focused ambitions in what she described as a “volatile global trading environment.” She said:
“These statistics report a strong trading performance and underline the continued strength and resilience of businesses here in the north. I want to commend our business community for their innovative and export focussed ambitions in what is often a volatile global trading environment. Strong export growth is essential to building a globally competitive and sustainable economy and to the delivery of my Economic Vision.”
The Minister specifically highlighted Northern Ireland’s unique trading position under the Windsor Framework, stating:
“In light of these positive trade statistics, I will continue to promote the unique dual market access that the north has under the Windsor Framework, being the only region in the world that enables businesses to sell goods into both the EU and Britain without checks and trade barriers.”
Data delays and methodological notes
Publication of these statistics was delayed by approximately four months due to the introduction of a new data collection system. The Annual Business Inquiry form, usually issued to businesses in early February with results published the following December, was launched later in 2024, pushing the release to March 2026.
The figures represent the 2024 calendar year and therefore pre-date recent global trade disruptions, including the introduction of new US tariffs and the full implementation of updated Windsor Framework arrangements for parcel movements and green lane arrivals that took effect from 1 May 2025.
Context and contrasting trends
While Northern Ireland’s trade with Ireland flourished – with exports up nearly 20% to £10.5 billion – this growth contrasts sharply with broader UK-Ireland trade patterns. Data from Ireland’s Central Statistics Office show trade between Great Britain and Ireland dropped by more than €6 billion in 2024, with imports from Britain to Ireland falling by 21%.
The growth in cross-border trade supports the Minister’s narrative of dual market access benefits, though this remains politically contested. Critics, including Traditional Unionist Voice leader Jim Allister, have described dual market access as a “myth,” arguing that the Windsor Framework creates barriers to the UK internal market that outweigh EU access advantages.
Business demography data also released by NISRA reveal the rate of business closures in Northern Ireland fell to its lowest level since 2020, with 4,790 “business deaths” recorded in 2024 (down 3.6%). Meanwhile, 6,240 new firms were created, an increase of 16.2% and the largest rise of any UK region.
Unanswered questions
While the headline figures suggest robust economic health, several questions remain for policymakers and business leaders:
- How much of the 7.5% sales growth represents real volume increases versus inflationary price rises, given that Northern Ireland’s cumulative inflation ran at 17% between January 2022 and July 2024?
- Can the strong export momentum to Ireland be sustained amid ongoing post-Brexit regulatory adjustments and potential changes to the Windsor Framework’s democratic consent mechanisms?
- Are the benefits of record sales being felt equally across business sizes, or are larger firms capturing disproportionate gains, given that the top 100 Northern Ireland companies alone account for £35.2 billion in turnover?
- How will the 2025 implementation of new UK Internal Market Scheme (UKIMS) requirements and the Duty Reimbursement Scheme affect trade patterns in next year’s data?
- With construction driving nearly a third of aGVA growth, what safeguards exist against potential volatility in this sector affecting overall economic stability?
The Department for the Economy notes that full statistical tables and interactive dashboards are available via the NISRA data portal, which now allows users to filter results and plot interactive charts rather than relying solely on Excel spreadsheets.