Exports of services from Northern Ireland grew at more than twice the rate of goods exports in 2024. Services made up almost 39% of all external sales, up from under 34% in 2023. Goods sales increased by 5.3% over the year.

Ulster University economist Esmond Birnie stated that these numbers show a continuing shift toward a services-based economy in Northern Ireland.

The data comes without adjustment for inflation. Other indicators back the rise in services. Since the pandemic, output in the business services and finance sector has increased by 32%, while the overall economy grew by 12% and manufacturing by 7%.

Growth in business services has slowed over the past 18 months but continues. Bank of America announced recruitment of its first 70 employees this month for a planned 1,000-person operation at Belfast harbour. The bank aims to handle work for its US headquarters from the site.

Citi, a US rival, set up in Belfast 20 years ago and remains one of the area's largest private sector employers.

NI Chamber of Commerce Director of International Relations Stuart Anderson noted the Republic of Ireland as a key market for local professional services. He pointed to higher hourly rates there and opportunities from the Irish government's €275bn infrastructure plan over 10 years. Northern Ireland firms in engineering, construction, planning, legal services, accounting, and renewables are active on southern projects.