The Northern Ireland Economy

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Northern Ireland has just entered another period of on-going political instability coupled with a period of uncertainty over Brexit and the border, both of which will negatively impact investment and economic growth.  While there have been modest economic gains in the private sector through foreign inward investments since 2014, many believe this will only improve when corporation tax becomes a devolved matter for the local administration in 2017. That may not be helped if both the UK and America reduces their rates as well.

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Manufacturing in Northern Ireland

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Northern Ireland manufacturing continues to perform well at home and with improving export sales in some sectors it is well positioned for growth over the next decade. Manufacturing currently employs around 85,000 people, (one in four jobs in the economy) with productivity currently around 40% higher than the Northern Ireland average. Exports are currently around Stg £6 billion in trade annually with new opportunities for growth in international markets especially in the developing countries as a consequence of Brexit. From its influence on infrastructure development, job creation and contribution to gross domestic product (GDP) on both overall and per capita basis, a strong manufacturing sector creates a clear path towards economic prosperity

 

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