Northern Ireland's economic output rose by 1% in the second quarter of 2024 and by 2.3% over the year to June, according to figures from the Northern Ireland Statistics and Research Agency.

This compares with UK GDP growth of 0.4% for the quarter and 1.2% annually. The Republic of Ireland's GDP increased by 10.2% in the quarter, but its Modified Domestic Demand, which strips out globalisation effects, fell by 0.8%.

The Northern Ireland growth was driven mainly by an increase in the production sector, which includes manufacturing. The services sector, the largest part of the local economy, also saw increased output over the 12-month period.

One business benefiting from international demand is BLK BOX, a gym equipment manufacturer based in Newtownabbey. The company, founded by Greg Bradley 14 years ago, now employs 180 staff and exports to markets including the EU, the US, Sri Lanka, the Maldives, India and Australia.

Bradley said the company has won contracts with high-profile clients such as Manchester United and PureGym, and has expanded into France, Spain and Germany. He cited the Windsor Framework as advantageous compared with competitors in England, allowing the firm to ship “frictionlessly” across Europe.

“We’ve been able to win a contract with a large French gym chain and Stade Français rugby team, so it’s actually worked out good for us and we are really doubling down on that,” he said.

Despite the positive indicators, concerns remain over rising energy and food costs. Pastry chef Daniel Duckett, who closed his east Belfast patisserie last year and has since reopened in partnership with Knott’s bakery chain at Forestside shopping centre, said Knott’s buying power helps control ingredient costs.

Duckett warned that rising petrol prices will affect the cost of goods, and that weather and global warming are impacting imports such as tropical fruits, vanilla, cocoa and sugar cane. “For the second half of the year we will have to be vigilant about where those products that have to travel far come from, as petrol prices will have to factor into that,” he said.