November 23, 2022
The Northern Eire Statistics and Analysis Company right this moment launched key outcomes of its 2021 Northern Eire Annual Enterprise Inquiry (ABI) survey.
Development in aGVA, turnover and purchases between 2020 and 2021
The principle findings are:
The COVID-19 pandemic had a serious affect on the economic system in 2020, resulting from (i) the introduction of lockdown measures to include its unfold and (ii) extended intervals of enterprise closures. This needs to be taken into consideration when contemplating the change in ABI estimates between 2020 and 2021. When considered within the broader image of developments noticed in recent times, the 2021 figures are according to what can moderately be anticipated have been it not for the affect of the 2020 pandemic. Different elements that will go some solution to explaining the stronger-than-usual progress between 2020 and 2021 embody firms holding extra inventories after intervals of closure throughout the pandemic and authorities laws designed to assist the economic system such because the day off scheme, “eat out to assist out” and the excessive avenue voucher scheme. Whole aGVA was estimated to be £30.6 billion at fundamental costs in 2021. This represented a rise of 19.4% (£5.0 billion) in comparison with 2020. Income for NI companies elevated by 13 between 2020 and 2021 .6% to £77.1 billion, whereas the price of purchases of products, providers and power elevated by 10.5% to £48.7 billion over the identical interval. As a result of volatility attributable to the Covid pandemic it’s price wanting on the enhance in aGVA, gross sales and purchases between 2019 and 2021. aGVA elevated by £5.3 billion (21.0%), gross sales elevated by £5.7 billion (8.0%) and purchases have been up by £2.1 billion (4.4%).
Development within the Manufacturing, Development, Distribution and Non-Monetary Companies sectors
The principle driver of aGVA’s progress has been within the NI Non-Monetary Companies sector, which grew by £1.8 billion (17.9%) between 2020 and 2021. A lot of the aGVA progress on this sector is attributable to the Transport and Storage part, which rose by £581 million (39.4%). Retail and wholesale inside the distribution sector recorded GVA progress of £868m (14.4%) over the interval. aGVA within the manufacturing sector elevated by £1.1 billion (15.5%) from 2020 to 2021. The principle driver for this was the Manufacturing part, which registered aGVA progress of £891 million (18.2%). Between 2020 and 2021 there was a rise in whole GVA within the building sector of £1.2 billion (47.5%). Full detailed outcomes can be found within the Northern Eire Annual Enterprise Inquiry Statistics Bulletin on the following hyperlink:
Annual enterprise survey
Notes to editors:
Suggestions is welcome and needs to be addressed to Daniel Hogg, Financial & Labor Market Statistics Department (ELMS), on 028 9025 5169 or at Daniel.Hogg@nisra.gov.uk. Comply with ELMS on Twitter @ELMSNISRA aGVA at Fundamental costs represents the revenue generated by companies, which pays wages and salaries, the price of capital funding and monetary prices earlier than arriving at a revenue determine. Turnover is outlined as the worth of whole gross sales and work carried out. For media inquiries, please contact the Division for the Financial system Press Workplace at firstname.lastname@example.org. The Govt Data Service supplies after-hours media inquiries solely between 6:00 PM and eight:00 AM Monday via Friday, and on weekends and holidays. The press officer on obligation will be reached on 028 9037 8110.
share this web page