Invest NI-backed firms increased employment levels in 2022

Invest NI boss Mel Chittock says the figures are strong given the pressure many businesses have faced in recent years

Companies supported by Invest NI increased their employment levels by just over 3% to 135,214 in 2022.

Invest NI is Northern Ireland's publicly funded economic development agency.

Firms supported by the agency also recorded big increases in the value of their sales and exports.

However those figures are not adjusted for inflation so a proportion of the rise probably reflects higher prices rather than greater sales volumes.

Total value of sales by supported firms was up by 15.4% to £23.6bn; external sales, which consists of exports and sales to Great Britain, were up by 16% to £20.5bn.

The rate of consumer price inflation in the UK was around 10% for much of 2022 but that cannot be neatly applied to these figures.

The figures also show the Republic of Ireland continues to be the largest export market, with Great Britain being the overall largest external market.

The Americas (USA, Canada and South America) accounted for the largest growth in sales value among Invest NI territories, up 16% on 2021 figures.

Invest NI's interim chief executive Mel Chittock said: "These are a very strong set of performance indicators, particularly given the impact the EU exit and Covid-19 has had on the business community right across Northern Ireland."