Minister Archibald welcomes record high sales from the north

Economy Minister Dr Caoimhe Archibald has welcomed statistics published which outline the north's strong trading performance in 2024.

The figures show total sales reaching £109.3 billion in 2024 – a 7.5% increase from 2023 and a survey record high.  Furthermore, NISRA report total external sales by companies in the north increased by 14.4% to £39.8 billion in 2024, with exports growing by 14.5% to £19.6 billion. These figures build on the strong performance of 2023, when external sales increased by 20.8% and exports grew by 26.6%.

The Minister 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 north also had a trade surplus with all its major trading partners. The north had a surplus of £3.8 billion with Britain, £6.4 billion with Ireland, £0.9 billion with the Rest of Europe and £1.1 billion with Rest of the World. 

Minister concluded: “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.” 

Notes to editors:-

1. The Northern Ireland Economic Trade Statistics 2024 & Northern Ireland Annual Business Inquiry 2024 were published this week by the NI Statistics and Research Agency.  They can be viewed at https://www.nisra.gov.uk/statistics/business/ni-economic-trade and https://www.nisra.gov.uk/statistics/business/annual-business-inquiry.