March 14, 2026 — Belfast Northern Ireland businesses recorded total sales of £109.3 billion in 2024, a record high, with external sales surging 14.4% to £39.8 billion, according to the Northern Ireland Statistics and Research Agency (NISRA) via the Department for the Economy. Services exports now represent nearly 39% of these external sales, up from under 34% in 2023, growing more than twice as fast as goods exports, which rose 5.3%.
This trend prompts the question Why are exports of NI services growing twice as fast as exports of goods?, as detailed in a BBC analysis. The shift underscores a broader move toward a service-driven economy in Northern Ireland.
Record Sales and Export Breakdown
NISRA data shows services comprising a larger share of exports amid overall economic expansion. Coverage from The Brief NI and the Irish News confirms the £109.3 billion total sales figure. External sales growth outpaced internal sales, highlighting international demand.
Drivers of Services Growth
Post-pandemic, the business services and finance sector output increased 32%, compared to 12% for the overall economy and 7% for manufacturing, per the BBC. Key areas include software, IT, consultancy, accountancy, law, and tourism. Why are exports of NI services growing twice as fast as exports of goods? Multinational investments play a major role, with Bank of America opening a 1,000-job operation in Belfast and Citi as a long-standing employer since 2006, exporting services to parent headquarters and global markets.
Demand from the Republic of Ireland’s €275 billion 10-year infrastructure plan and renewables sectors also contributes, offering higher rates for NI services, according to the BBC.
Broader Economic Context
The Windsor Framework has supported modest goods export growth of 2.7% year-to-date through Q3 2025, but services lead the surge. Mirrors of the BBC piece appear on AOL and Yahoo Finance, emphasizing Why are exports of NI services growing twice as fast as exports of goods?
Why are exports of NI services growing twice as fast as exports of goods? This BBC article highlights the rapid growth in Northern Ireland’s services exports (up to 39% of total external sales in 2024), outpacing goods exports. The business services and finance sector has surged 32% since the pandemic, fueled by software, IT, consultancy, and multinationals like Bank of America and Citi. It signals a shift to a service-driven economy, with opportunities in Ireland’s infrastructure and renewables.