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30/06/2005
NI economic growth above UK average says report
Northern Ireland’s economic growth rate is above the UK average, while manufacturing exports have doubled in the last decade, a new report has said.
The first Northern Ireland Economic Bulletin found that the province’s overall economic growth (6.0%) in 2002-03 was above the UK average (5.4%) and joint 2nd highest of the UK regions.
Despite the decline in NI manufacturing jobs (3.3%) in the period December 2003-04, manufacturing output continued to grow (2.3%) at a faster rate than in the UK (0.6%).
Total manufacturing exports have also more than doubled over the last decade in real terms to £4,244m in 2003-04 while the province continues to have the highest level of employee jobs on record with unemployment levels ever closer to an historical low.
Welcoming the publication, Enterprise Minister Angela Smith said: “This publication confirms positive signs in the performance of the economy, and makes clear that we are in a transition period.
“It is encouraging to note that, despite the challenges faced by the manufacturing sector, overall manufacturing output has continued to grow, with a greater emphasis on exports. We must continue to focus our activities to create high value added employment.”
The Northern Ireland Economic Bulletin, published by the Department of Enterprise, Trade and Investment (DETI), brings together analysis and commentary from a range of sources inside and outside government.
It extends the coverage and depth of the economic analysis currently available, and reflects DETI’s commitment to improve the evidence base used for economic decision-making.
(MB)
The first Northern Ireland Economic Bulletin found that the province’s overall economic growth (6.0%) in 2002-03 was above the UK average (5.4%) and joint 2nd highest of the UK regions.
Despite the decline in NI manufacturing jobs (3.3%) in the period December 2003-04, manufacturing output continued to grow (2.3%) at a faster rate than in the UK (0.6%).
Total manufacturing exports have also more than doubled over the last decade in real terms to £4,244m in 2003-04 while the province continues to have the highest level of employee jobs on record with unemployment levels ever closer to an historical low.
Welcoming the publication, Enterprise Minister Angela Smith said: “This publication confirms positive signs in the performance of the economy, and makes clear that we are in a transition period.
“It is encouraging to note that, despite the challenges faced by the manufacturing sector, overall manufacturing output has continued to grow, with a greater emphasis on exports. We must continue to focus our activities to create high value added employment.”
The Northern Ireland Economic Bulletin, published by the Department of Enterprise, Trade and Investment (DETI), brings together analysis and commentary from a range of sources inside and outside government.
It extends the coverage and depth of the economic analysis currently available, and reflects DETI’s commitment to improve the evidence base used for economic decision-making.
(MB)
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
