The economy of Northern Ireland is the smallest of the four Home Nations' economies of the United Kingdom. Northern Ireland has traditionally had an industrial economy, most notably in shipbuilding, rope manufacture and textiles, but most heavy industry has since been replaced by services. To this day, Northern Ireland still suffers from the results of the Troubles which occurred between the late 1960s until the mid-1990s between Unionists and Nationalists. Home Nations (often written as the common noun home nations) is a term used to refer to the four constituent countries of the United Kingdom — England, Scotland, Wales and Northern Ireland — collectively but as separate entities, distinct from the United Kingdom as a state. ... Men from Francisco de Orellanas expedition building a small brigantine, the San Pedro, to be used in the search for food Shipbuilding is the construction of ships. ... Wikibooks has more about this subject: Marketing In economics and marketing, a service is the non-material equivalent of a good. ... Northern Ireland is a part of the United Kingdom lying in the northeast of the island of Ireland, covering 5,459 square miles (14,139 km², about a sixth of the islands total area). ... For other uses, see Troubles (disambiguation) and Trouble. ... In the context of Irish politics, Unionists are people in Northern Ireland, who wish to see the continuation of the Act of Union 1800, as amended by the Government of Ireland Act 1920, under which Northern Ireland, created in that latter Act, remains part of the United Kingdom of Great... Irish nationalism refers to political movements that desire greater autonomy or the independence of Ireland from Great Britain. ...

Overview

Output and economic growth

Northern Ireland has the smallest economy of any of the twelve NUTS 1 regions of the United Kingdom, at €37.3bn, or about two-thirds of the size of the next smallest, North East England. However, this is partly because Northern Ireland has the smallest population; at €19,603 Northern Ireland has a greater GDP per capita than both North East England and Wales.^[1] The Nomenclature of Territorial Units for Statistics (NUTS) in the United Kingdom is a subdivision of the UK devised by Eurostat. ... North-East England is one of the nine official regions of England and comprises the combined area of Northumberland, County Durham, Tyne and Wear and a small part of North Yorkshire. ... This article is about the country. ...

Other Comparisons

Throughout the 1990s, the Northern Irish economy grew faster than did the economy of the rest of the UK, due in part to the rapid growth of the economy of the Republic of Ireland and the so-called 'peace dividend'. Growth slowed to the pace of the rest of the UK during the down-turn of the early years of the new millennium, but growth has since rebounded; in 2005, the Northern Irish economy is estimated to have grown by 3.2%, almost twice as fast as the UK as a whole, and future growth is expected to be stronger than that of the rest of the United Kingdom,^[2], though lower than that of the Republic. In April 2007 a Halifax survey found Northern Ireland's average house price to one of the highest in the UK, behind London, the South East and the South West. It also found Northern Ireland to have all of the top ten property "hot spots", with the Craigavon and Newtownards areas increasing by 55%.^[3] For the band, see 1990s (band). ... Cartoon of the Celtic Tiger. ... The economy of Ireland is modern and trade-dependent with growth averaging a robust 10% in 1995–2000. ... The peace dividend is a political slogan popularized by US President George H.W. Bush and UK Prime Minister Margaret Thatcher in the early 1990s, purporting to describe the economic benefit of a decrease in defense spending. ... Halifax logo The Halifax is a commercial bank in the United Kingdom, part of the HBOS Group. ... This article does not cite any references or sources. ... This article or section is not written in the formal tone expected of an encyclopedia article. ...

Employment

Unemployment in Northern Ireland has decreased substantially in recent years, and is now 4.5%, which is amongst the lowest of the regions of the United Kingdom, down from a peak of 17.2% in 1986.^[4] Youth unemployment and long-term unemployment have fallen most quickly. Despite low unemployment, working-age economic inactivity is 28%, which is the highest of any UK region.^[5] This article does not cite any references or sources. ...

Northern Ireland's macroeconomy is also characterised by considerably longer actual working hours and lower gender income disparity than in the United Kingdom as a whole.^[5] Macroeconomics is the study of the entire economy in terms of the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the general behavior of prices. ...

Investment

During The Troubles, Northern Ireland received little foreign investment. Many believe this to be the result of Northern Ireland's portrayal as a warzone in the media, by both British and International during this period. For other uses, see Troubles (disambiguation) and Trouble. ...

Since the signing of Good Friday Agreement investment in Northern Ireland has increased significantly. Most investment has been focused in Belfast and several areas of the Greater Belfast area. Major projects include the £400 million Victoria Square retail development in Belfast City Centre. The city will also see the largest waterfront development in Europe with the Titanic Quarter^[6] scheme, costing over £1,000 million and taking seven years to complete. The Laganside Corporation has been at the forefront of the redevelopment of the riverfront along the banks of the River Lagan, to date the corporation has overseen the investment of over £800 million in the riverside area. The Cathedral Quarter has also seen substantial investment. The Belfast Agreement (also known as the Good Friday Agreement and, more rarely, as the Stormont Agreement) was signed in Belfast on April 10, 1998 by the British and Irish Governments and endorsed by most Northern Ireland political parties. ... Northern Ireland is a part of the United Kingdom lying in the northeast of the island of Ireland, covering 5,459 square miles (14,139 km², about a sixth of the islands total area). ... WGS-84 (GPS) Coordinates: , Statistics Province: Northern Ireland County: District: Belfast UK Parliament: Belfast North Belfast South Belfast East Belfast West European Parliament: Northern Ireland Dialling Code: 028, +44 28 posttown = Belfast Postal District(s): BT1-BT17, BT29 (part of), BT58 Area: 115 km² Population (2001) Website: www. ... Greater Belfast is an area surrounding and including Belfast in Northern Ireland. ... Belfast City Centre is the main commercial and business district in Belfast, the capital city of Northern Ireland. ... This article does not cite any references or sources. ... The Laganside Corporation is a public body formed by the Laganside Development (Northern Ireland) Order 1989 with the goal of regenerating large sections of land in Greater Belfast, Northern Ireland adjacent to the River Lagan. ... The Cathedral Quarter in Belfast, Northern Ireland, is an area roughly situated between Royal Avenue and the Dunbar Link in the city centre. ...

Agriculture

Livestock is one of the major industries in Northern Ireland. In this picture sheep graze on a pasture at the edge of Giants Causeway near Bushmills, Northern Ireland.

Agriculture in Northern Ireland is heavily mechanised, thanks to high labour costs and heavy capital investment, both from private investors and the European Union's Common Agricultural Policy. In 2000, agriculture accounted for 2.4% of economic output in Northern Ireland, compared to 1% in the United Kingdom as a whole.^[7] As in the rest of the United Kingdom, livestock and dairy account for the majority of agricultural output. The main crops are (in descending order) potatoes, barley, and wheat. Image File history File linksMetadata Download high resolution version (1291x1072, 204 KB) Summary Licensing File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Image File history File linksMetadata Download high resolution version (1291x1072, 204 KB) Summary Licensing File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Basalt columns Giants Causeway A plane of columns The Giants Boot The Giants Causeway is an area of 40,000 tightly packed basalt columns resulting from a volcanic eruption 60 million years ago1. ... Bushmills (IrishHOME OF RICHARD McALLISTER Muileann na Buaise) is a village on the north coast of County Antrim, Northern Ireland. ... Northern Ireland is a part of the United Kingdom lying in the northeast of the island of Ireland, covering 5,459 square miles (14,139 km², about a sixth of the islands total area). ... The Common Agricultural Policy (CAP) is a system of European Union agricultural subsidies and programmes. ... Sheep are commonly bred as livestock. ... A dairy farm near Oxford, New York in the United States. ... A crop is any plant that is grown in significant quantities to be harvested as food, livestock fodder, or for another economic purpose. ... Binomial name Solanum tuberosum L. The potato (Solanum tuberosum) is a perennial plant of the Solanaceae, or nightshade, family, commonly grown for its starchy tuber. ... Binomial name L. Barley (Hordeum vulgare) is an annual cereal grain, which serves as a major animal feed crop, with smaller amounts used for malting and in health food. ... Species T. aestivum T. boeoticum T. compactum T. dicoccoides T. dicoccon T. durum T. monococcum T. spelta T. sphaerococcum T. timopheevii References:   ITIS 42236 2002-09-22 For the indie rock group see: Wheat (band). ...

Manufacturing

The RMS Titanic, Northern Ireland's most famous manufacturing export, being admired by Harland and Wolff shipyard workers before its launch.

Heavy industry is concentrated in and around Belfast, although other major towns and cities also have heavy manfufacturing areas. Machinery and equipment manufacturing, food processing, and textile and electronics manufacturing are the leading industries. Other industries such as papermaking, furniture manufacturing, aerospace and shipbuilding are also important, concentrated mostly in the eastern parts of Northern Ireland. Of these different industries, one of the most notable is that of Northern Ireland's fine linens, which is considered as one of the most well-known around Europe. Image File history File links Titanic_rudder_before_launch. ... Image File history File links Titanic_rudder_before_launch. ... RMS Titanic was a British Olympic class passenger liner that became famous for her collision with an iceberg on 14 April 1912 and dramatic sinking on 15 April 1912. ... Harland and Wolff Heavy Industries began as a shipyard located in Belfast. ... Heavy industry does not have a single fixed meaning compared to light industry. ... WGS-84 (GPS) Coordinates: , Statistics Province: Northern Ireland County: District: Belfast UK Parliament: Belfast North Belfast South Belfast East Belfast West European Parliament: Northern Ireland Dialling Code: 028, +44 28 posttown = Belfast Postal District(s): BT1-BT17, BT29 (part of), BT58 Area: 115 km² Population (2001) Website: www. ... Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. ... “fabric” redirects here. ... Electronics is the study of the flow of charge through various materials and devices such as, semiconductors, resistors, inductors, capacitors, nano-structures, and vacuum tubes. ... The Diamond Sutra of the Chinese Tang Dynasty, the oldest dated printed book in the world, found at Dunhuang, from 868 AD. Papermaking is the process of making paper, a material which is ubiquitous today for writing and packaging. ... welcome:: This is an article about items in a room. ... Look up aerospace in Wiktionary, the free dictionary. ... Men from Francisco de Orellanas expedition building a small brigantine, the San Pedro, to be used in the search for food Shipbuilding is the construction of ships. ... World map showing the location of Europe. ...

Although its share of economic output has declined, manufacturing output in Northern Ireland has remained almost unchanged over the past five years, after a period of steep manufacturing growth between 1998 and 2001.^[8] However, this overall picture of health hides a dramatic shift in manufacturing priorities, with the decline of traditional industries, such as textiles and shipbuilding, at the expense of high tech and capital-intensive industries. In 2005, chemicals and engineering (both of which belong firmly to the latter group) were the only two manufacturing sub-sectors to record growth, whilst output of textiles fell by 18%.^[9] High tech refers to high technology, technology that is at the cutting-edge and the most advanced currently available. ... Capital intensity is the term in economics for the amount of fixed or real capital present in relation to other factors of production, especially labor. ...

Engineering is the largest manufacturing sub-sector in Northern Ireland, particularly in the fields of aerospace and heavy machinery. Bombardier Aerospace is the province's largest industrial employer, with 5,400 workers at five sites in the Greater Belfast area.^[10] Other major engineering employers in Northern Ireland include Bombardier Aerospace, Caterpillar, DuPont, Emerson Electric, Nortel, Northbrook Technology, Seagate and NACCO. Many of these manufacturers receive British government financial backing, and enjoy close academic and business links with Queen's University Belfast, which ranks as one of the best British universities for all engineering courses.^[11] Look up aerospace in Wiktionary, the free dictionary. ... Bombardier Aerospace is a division of the Bombardier group. ... Greater Belfast is an area surrounding and including Belfast in Northern Ireland. ... Bombardier Aerospace is a division of the Bombardier group. ... Caterpillar Inc. ... Dupont, DuPont, Du Pont, or du Pont may refer to: // E.I. du Pont de Nemours and Company, the worlds third largest chemical company Du Pont Motors Gilbert Dupont, a French stock brokerage part of retail banking network Crédit du Nord ST Dupont, a French manufacturer of fine... Emerson Electric Company was established in 1890 in St. ... Northern Telecommunications Networks, commonly known as Nortel, is a telecommunications equipment manufacturer headquartered in Canada. ... Northbrook Technology is a company based in Belfast, Derry and Strabane in Northern Ireland. ... Seagate Technology (NYSE: STX) is a major American manufacturer of hard drives, founded in 1979 and based in Scotts Valley, California. ... NACCO Industries, Inc. ... Queens University Belfast is a university in Belfast, Northern Ireland and a member of the Russell Group (a lobby group of major research universities in the United Kingdom). ...

Services

As with all developed economies, services account for the majority of employment and output. Services account for almost 70% of economic output, and 78% of employees.^[12]

Tourism

Despite the negative image of Northern Ireland held in many foreign countries, on account of the Troubles, tourism is an important part of the Northern Irish economy. In 2004, tourism revenue rose 7% to £325m, or over 1% of the local economy, on the back of a rise of 4% in total visits to 2.1m in the year.^[2] Tourism is considered likely to become one of the main growth areas of the economy in the near future, with the continuation of the peace process and the normalisation of the image of Northern Ireland internationally. The most popular tourist attractions include Belfast, Armagh, the Giant's Causeway, and Northern Ireland's many castles. “GBP” redirects here. ... The peace process describes efforts by interested parties to effect a lasting solution to long-running conflicts, such as in Northern Ireland (see Belfast Agreement) or the Arab-Israeli conflict. ... WGS-84 (GPS) Coordinates: , Statistics Province: Northern Ireland County: District: Belfast UK Parliament: Belfast North Belfast South Belfast East Belfast West European Parliament: Northern Ireland Dialling Code: 028, +44 28 posttown = Belfast Postal District(s): BT1-BT17, BT29 (part of), BT58 Area: 115 km² Population (2001) Website: www. ... WGS-84 (GPS) Coordinates: 54. ... This article or section includes a list of works cited or a list of external links, but its sources remain unclear because it lacks in-text citations. ... . ...

Public sector

The public sector accounts for 63% of the economy of Northern Ireland, which is substantially higher than 43% of the United Kingdom as a whole. In total, the British government subvention totals £5,000m, or 20% of Northern Ireland's economic output.^[13] < [[[[math>Insert formula here</math>The public sector is that part of economic and administrative life that deals with the delivery of goods and services by and for the [[government </math></math></math></math> Direct administration funded through taxation; the delivering organisation generally has no specific requirement to meet commercial... This page is a candidate to be copied to Wiktionary. ...

Many Unionists in Northern Ireland argue that a United Ireland could not sustain these levels of public sector employment, particularly as only 36% of the economy of the Republic of Ireland is contributed by government expenditure. Many in favour of a United Ireland argue that it is this dependence on the public sector that dissaudes potential investors, causing Northern Ireland's relative poverty. This article or section does not adequately cite its references or sources. ... The economy of Ireland is modern and trade-dependent with growth averaging a robust 10% in 1995–2000. ...

Currency

A £20 banknote issued by the Northern Bank, one of four Northern Irish banks with the right to issue sterling-denominated banknotes.

The official currency in use in Northern Ireland is the British Pound sterling. The euro, in use in the Republic of Ireland, is accepted by retailing chains closer to the border with the Republic of Ireland. Regardless, sterling remains by far the most widely circulated currency in Northern Ireland. Northern Ireland Northern Bank £20 illo This work is copyrighted. ... Northern Bank, is a commercial bank in Northern Ireland. ... “GBP” redirects here. ... “GBP” redirects here. ... “EUR” redirects here. ...

In addition, four Northern Ireland banks retain the right to print their own sterling-denominated banknotes: Bank of Ireland, First Trust Bank, Northern Bank, and Ulster Bank. These notes are circulated alongside, and in parity with, official Bank of England banknotes in Northern Ireland. However, they are often rejected by people in the rest of the United Kingdom, many of whom are unaware of the legitimacy of the notes. The Northern Bank robbery brought to national and international attention the Northern Irish system.
Big Four or The Big Four may refer to: // See also: Big Four (companies) and Big Four (banks). ... The Bank of Ireland (ISEQ: BKIR_p) LSE: BKIR NYSE: IRE, officially known as the Governor and Company of the Bank of Ireland is a commercial bank operation on the island of Ireland, one of the Big Four. The bank was formed by an Act of the Irish Parliament in 1782... of Britains Best Business Bank from the Forum of Private Business, being ranked top for customer service and maintaining its lead over other major banks. ... Northern Bank, is a commercial bank in Northern Ireland. ... Ulster Bank (Irish: Banc Uladh) is a large commercial bank, one of the Big Four in Ireland. ... Notes such as this Northern Bank £20 note were stolen. ...

Energy

Northern Ireland's total primary energy consumption is approximately 4.90 million tonnes of oil equivalent. The vast majority of this energy comes from fossil fuels. A tonne or metric ton (symbol t), sometimes referred to as a metric tonne, is a measurement of mass equal to 1,000 kilograms. ... Pumpjack pumping an oil well near Sarnia, Ontario Petroleum (from Greek petra – rock and elaion – oil or Latin oleum – oil ) or crude oil is a thick, dark brown or greenish liquid. ... Fossil fuels are hydrocarbon-containing natural resources such as coal, petroleum and natural gas. ...

Electricity consumption in Northern Ireland was 7,867 GW·h in 2002/3.^[14] At 4.6 MW·h per person, this is 18% less than that of the rest of the United Kingdom (5.6 MW·h per person); although this may be expected of a less prosperous region, Northern Ireland's relative energy efficiency is seen as a successful transitional from its once heavily industrialised economy to a less energy-reliant services-based one. The main power station is located at Ballylumford, and is operated by Premier Power. The watt-hour (symbol W·h) is a unit of energy. ... For the physical concepts, see conservation of energy and energy efficiency. ... Ballylumford Ballylumford power station is a power station near Larne in Northern Ireland. ... Premier Power is an electricity supply company in Northern Ireland. ...

Northern Ireland's electrical grid is connected to that of the Republic of Ireland by three cross-border interconnectors. The main interconnector, between Tandragee and Louth has a capacity of 1,200 MW. Two back-up interconnectors have a combined capacity of 240 MW. This combined all-island grid is connected to the National Grid on the island of Great Britain by the 500 MW Moyle interconnector, under the North Channel.^[15] Power line redirects here. ... Tandragee (Tóin re Gaoith in Irish) (also spelt Tanderagee) is a large village in County Armagh, Northern Ireland, on the Cusher River. ... This article is about the town of Louth in England. ... The watt (symbol: W) is the SI derived unit of power, equal to one joule per second. ... The National Grid is the high-voltage electric power transmission network in Great Britain, connecting power stations and major substations and ensuring that electricity generated anywhere in Great Britain can be used to satisfy demand elsewhere. ... The HVDC Moyle is the HVDC link between Auchencrosh in Scotland and Ballycronan More in Northern Ireland, which went in service in 2001. ... The North Channel is the stretch of water which separates Ireland from Scotland. ...

Transport

Northern Ireland has well-developed transport infrastructure. Northern Ireland has a total of 24,820 km (15,420 mi) of roads, or 1 km for each 68 people (1 mi for each 109 people), which is considerably more than in the United Kingdom as a whole (1 km per 162 people).^[16] There are seven motorways in Northern Ireland, extending radially from Belfast, and connecting that city to Antrim, Dungannon, Lisburn, Newtownabbey, and Portadown. The Northern Irish rail network is notable as being both the only part of the United Kingdom's railroads operated by a state-owned company, Northern Ireland Railways, and the only substantial part that carries no freight traffic. Railways Rail links with adjacent countries Republic of Ireland - yes Scotland - no - But Proposed Tunnel Under North Channel See also Northern Ireland Transport in Ireland Category: ... A motorway (United Kingdom, Republic of Ireland, New Zealand, and some Commonwealth nations) is both a type of road and a classification. ... WGS-84 (GPS) Coordinates: 54. ... WGS-84 (GPS) Coordinates: 54. ... WGS-84 (GPS) Coordinates: 54. ... WGS-84 (GPS) Coordinates: , Statistics Province: Ulster County: District: Newtownabbey Borough UK Parliament: East Antrim European Parliament: Northern Ireland Dialling Code: 028, +44 28 Post Town: Newtownabbey Postal District(s): BT36, BT37 Population (2001) 62,056 Newtownabbey is a large urban area in County Antrim, Northern Ireland, to the north... Portadown (from the Irish: Port an Dúnáin meaning port of the fortress) is a town in County Armagh, Northern Ireland. ... 1906 reference Rail Map Northern Ireland Railways (NIR or NI Railways) – formerly, and very briefly, known as Ulster Transport Railways (UTR) – is the railway operator in Northern Ireland. ...

Northern Ireland is home to three civilian airports: Belfast City, Belfast International, and City of Derry. Major seaports in Northern Ireland include the Port of Belfast and the Port of Larne. The Port of Belfast is one of the chief ports of the British Isles, handling 17 million tonnes (16.7 million long tons) of goods in 2005,^[17] equivalent to two-thirds of Northern Ireland's seaborne trade. Belfast City Airport (IATA: BHD, ICAO: EGAC) is an airport in Belfast, Northern Ireland. ... Belfast International Airport (IATA: BFS, ICAO: EGAA) is an airport located some 21 kilometres (13 miles) northwest of Belfast in Northern Ireland. ... City of Derry Airport Entrance. ... It has been suggested that this article or section be merged with Port. ... The Port of Belfast is Northern Irelands principal maritime gateway, serving the Northern Ireland economy and increasingly that of the Republic of Ireland. ... WGS-84 (GPS) Coordinates: 54. ... The British Isles in relation to mainland Europe The British Isles (French: , Irish: [1] or Oileáin Iarthair Eorpa,[2] Manx: Ellanyn Goaldagh, Scottish Gaelic: , Welsh: ), are a group of islands off the northwest coast of continental Europe comprising Great Britain, Ireland and a number of smaller islands. ... A long ton is the name used in the US for the unit called the ton in the avoirdupois or Imperial system of measurements, as used (alongside the metric system) in the United Kingdom and to some extent in other Commonwealth countries. ...

In addition to these existing links, several organisations have proposed a tunnel under the North Channel, with one possible site connecting eastern Northern Ireland to Wigtownshire. The idea has been given technical consideration since the 19th century, but, as of 2006, no major political party has advocated such a link, due to financial constraints. Relief map of the Irish Sea. ... The North Channel is the stretch of water which separates Scotland from the north of Ireland. ... Wigtownshire is a small traditional county in the south west of Scotland. ... Year 2006 (MMVI) was a common year starting on Sunday (link displays full 2006 calendar) of the Gregorian calendar. ...

Footnotes

See also

• Economy of the Republic of Ireland