Annual Business Inquiry

Headline results

Latest Reporting Unit results – published 11th December 2024 are highlighted below:

Key Points

In 2023, 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 £37.2 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.
aGVA at basic prices represents the income generated by businesses, out of which is paid wages and salaries, the cost of capital investment and financial charges before arriving at a figure for profit.

Change between 2022-23

The NI non-financial business economy, as measured by the Northern Ireland Annual Business Inquiry (NIABI), recorded an increase of £5.0 billion (15.4%) in aGVA from 2022 to 2023.
The key driver of aGVA growth was the NI Services Industries sector (industry Sections H-S) which increased by £1.6 billion (12.5%). The majority of aGVA growth in this sector is attributable to the Transport and Storage services section (Section H) which increased by £525 million (28.7%). The Distribution sector (Section G) increased by £1.5 billion (19.0%) between 2022 and 2023.
The Construction sector (Section F) also increased by £624 million (16.7%).
The Production sector (Sections B-E) showed an increase in aGVA of £1.3 billion (16.1%) from £7.8 billion to £9.0 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) in the NI non-financial business economy as a whole increased by £10.5 billion (12.1%) over the year to £97.6 billion and purchases of goods, materials, energy, water and services increased by £5.0 billion (8.7%) to £62.0 billion.

Data from the 2021 Annual Business Inquiry is available on the NISRA data portal here.