Details on the conduct and results of the Northern Ireland Annual Business Inquiry.
- Turnover, defined as the value of total sales and work done by businesses in Northern Ireland, was estimated to be worth £68,881 million in 2016 (excluding VAT): an increase of 2.7% compared to 2015.
- After expenditure on goods and services was accounted for, this represented a total figure of £21,540 million in terms of approximate Gross Value Added (aGVA). aGVA, which is a measure of the value of economic activity generated by businesses, increased by 5.4% (£1,108 million) over the year.
- The key contributor to the 2016 aGVA growth was the production sector with an increase of 6.8% (£413 million) between 2015 and 2016.
- The construction sector also recorded significant growth in aGVA, increasing by £356 million (18.8%), from £1.90 billion to £2.25 billion. The construction sector has grown for the last three consecutive years, following five years of declining values.
- The non-financial services sector aGVA increased by £289 million (3.8%) between 2015 and 2016.
- aGVA in the distribution industries showed no significant change (+0.8%) between 2015 and 2016. Turnover and purchases recorded small growth rates, increasing by 1.2% and 1.1% respectively.
- Full report
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