GVA figures suggest struggle to recover from recession

Official figures suggest Northern Ireland businesses have struggled to recover from the recession.

The figures are for Gross Value Added (GVA), which is a measure of income generated by businesses, minus the cost of goods and services used to create the income.

They show that in 2011 GVA in Northern Ireland rose by 0.5% compared to 5.8% in the UK as a whole.

That gave Northern Ireland a 2011 GVA of £18.2bn, below the £18.7bn of 2008.

The 2011 figures also confirm service industries as the largest sector of the Northern Ireland economy - they delivered GVA of £7bn, which is well above the position in 2008.

Service sector GVA also grew by almost 10% in 2011 while all other sectors, except agriculture, saw a reduction.

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