Manufacturing & the Northern Ireland Economy
We are pleased to present this report on the contribution which manufacturing makes to the Northern Ireland economy. For what is believed to be the first time, the report from Oxford Economics uncovers the full impact on jobs, wages, GVA, exports and other areas on both a macro NI level and in each of our 11 new Councils. We hope the NI Executive and its Departments and agencies as well as local Councils find this analysis useful when settling on their actions and interventions which will grow the economy and build strong communities. The NI Executive has a number of significant challenges – creating wealth and work across NI; sustainable, well paid highly skilled and entry level jobs; closing the productivity gap with GB and the EU; building strong, healthy communities; increasing exports; developing an innovative, modern economy and rebalancing an economy.
It is clear from this Oxford Economics report that no other part of our economy delivers these outcomes more than the manufacturing sector…
- 214k direct and supported jobs – 1 in 4 of all jobs in the economy.
- A £9.9bn GVA, around 1/3rd of the economy.
- Productivity at £55,700 is 38% higher than NI average with advanced manufacturing contribution 27% more.
- Exports at £6bn, almost two-thirds of all export sales.
- £254 million in R&D in 2014, accounting for over 60 percent of total business investment.
- Attracting £900 million in FDI Between 2010 and 2014.
An impressive list! However, we risk missing out on an enormous opportunity to transform our economy and with it the fortunes of communities across NI.
To read the full report, click the link below.
- Manufacturing and NI Economy