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03/12/2014
Manufacturing Sales Rise 4%
Total manufacturing sales in Northern Ireland are up 4.0% in current prices and 3.2% in real terms, according to the latest Manufacturing Sales And Export Survey.
Total sales by manufacturing companies in Northern Ireland were estimated to be worth £18.1bn in 2013/14, indicating a rise of 4% over the year.
However, the total sales are comprised of domestic, sales to Great Britain and sales to the rest of the world, including the Republic of Ireland.
In fact, sales within Northern Ireland decreased in current prices by £37m to £3.7bn. This showed a 1.0% drop over the year and kept sales below peak levels last reported in 2007/08.
Sales to Great Britain increased in current prices by £244m to £8.2 bn, showing a 3.1% rise over the year. This is the highest level of sales to GB on record in current prices and shows an increase of 2.0% in real terms.
Exports increased by £491m, 8.7%, over the year to £6.1bn in current prices. The report said this rise was largely driven by an increase in sales to the rest of the EU. This represented an increase of 8.6% in real terms and follows growth of 3.2% in real terms in the previous period 2011/12 - 2012/13.
Exports to the Republic of Ireland increased by £140 m or 9.9% over the year to under £1.6bn in current prices. The report found this was the third consecutive year of increasing sales to ROI following three consecutive years of falling sales. 2013/14 sales represented a rise of 9.8% in real terms. The Republic of Ireland remains Northern Ireland's single largest export market.
Exports to the Rest of the EU, excluding the Republic, increased over the year by £206m (16.3%) to £1.5bn in current prices. In real terms this represented an increase of 16.1%. This follows a decrease of 5.8% in real terms in the previous period.
Enterprise and Trade Minister Arlene Foster said: "The latest provisional headline results showing a 5.4% increase in manufacturing sales to customers outside Northern Ireland is very encouraging. By this measure, we have once again exceeded the level of the previously recorded peak in external sales activity seen last year. Much of this has been driven by sales to Great Britain, which have reached a record high.
"Exports to the Republic of Ireland increased over the year, and this remains our single largest export market. This is the third consecutive year of increasing sales to the Republic of Ireland, which indicates that this important market is stabilising and improving.
"Our performance in emerging markets continues to improve and we will continue to focus on growing these markets into the future. However, we must also keep sight of opportunities closer to home as sales to other parts of the United Kingdom are a key driver of economic growth, particularly for our small and medium sized enterprises."
(IT/CD)
Total sales by manufacturing companies in Northern Ireland were estimated to be worth £18.1bn in 2013/14, indicating a rise of 4% over the year.
However, the total sales are comprised of domestic, sales to Great Britain and sales to the rest of the world, including the Republic of Ireland.
In fact, sales within Northern Ireland decreased in current prices by £37m to £3.7bn. This showed a 1.0% drop over the year and kept sales below peak levels last reported in 2007/08.
Sales to Great Britain increased in current prices by £244m to £8.2 bn, showing a 3.1% rise over the year. This is the highest level of sales to GB on record in current prices and shows an increase of 2.0% in real terms.
Exports increased by £491m, 8.7%, over the year to £6.1bn in current prices. The report said this rise was largely driven by an increase in sales to the rest of the EU. This represented an increase of 8.6% in real terms and follows growth of 3.2% in real terms in the previous period 2011/12 - 2012/13.
Exports to the Republic of Ireland increased by £140 m or 9.9% over the year to under £1.6bn in current prices. The report found this was the third consecutive year of increasing sales to ROI following three consecutive years of falling sales. 2013/14 sales represented a rise of 9.8% in real terms. The Republic of Ireland remains Northern Ireland's single largest export market.
Exports to the Rest of the EU, excluding the Republic, increased over the year by £206m (16.3%) to £1.5bn in current prices. In real terms this represented an increase of 16.1%. This follows a decrease of 5.8% in real terms in the previous period.
Enterprise and Trade Minister Arlene Foster said: "The latest provisional headline results showing a 5.4% increase in manufacturing sales to customers outside Northern Ireland is very encouraging. By this measure, we have once again exceeded the level of the previously recorded peak in external sales activity seen last year. Much of this has been driven by sales to Great Britain, which have reached a record high.
"Exports to the Republic of Ireland increased over the year, and this remains our single largest export market. This is the third consecutive year of increasing sales to the Republic of Ireland, which indicates that this important market is stabilising and improving.
"Our performance in emerging markets continues to improve and we will continue to focus on growing these markets into the future. However, we must also keep sight of opportunities closer to home as sales to other parts of the United Kingdom are a key driver of economic growth, particularly for our small and medium sized enterprises."
(IT/CD)
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