Northern Ireland businesses generate £43.6 billion income in 2024
Date published:
New accredited official statistics published today by NISRA present information on the Non-Financial Business Economy in Northern Ireland for 2024.
Key findings
- Northern Ireland's non-financial business economy generated £43.6 billion in income in 2024, after subtracting the cost of goods and services used to produce it. This measure, known as approximate Gross Value Added (aGVA), covers most of the economy but excludes farming and financial services.
- aGVA grew by £3.8 billion (9.6%) between 2023 and 2024, meaning businesses across Northern Ireland generated significantly more income relative to their costs than in the previous year.
- The key driver of aGVA growth was the Construction sector (Section F) which increased by £1.7 billion (30.7%) between 2023 and 2024.
- 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. Manufacturing within the Production sector (Section C) recorded aGVA growth of £881 million (15.2%).
- Turnover (i.e. the value of total sales and work done) across the non-financial business economy rose by £7.6 billion (7.5%) to £109.3 billion in 2024.
- Purchases of goods, materials, energy, water and services increased by £3.0 billion (4.7%) to £66.8 billion.
About this publication
This bulletin contains provisional 2024 and 2023 revised reporting unit results from the Northern Ireland Annual Business Inquiry (NIABI).
The NIABI is a key resource for measuring the size, performance and structure of the Northern Ireland non-financial business economy. It is a survey of businesses covering the production, construction, distribution and service industries plus an element of agriculture and covers roughly two thirds of the total economy.
Further information
Read the full report: Annual Business Inquiry
View data tables and background information: Annual Business Inquiry