1st February 2012: Northern Ireland exports up almost 10% on last year

New figures from the Department of Enterprise suggest that exports from Northern Ireland increased by almost 10% last year.

The department's new export monitor uses trade data compiled by HM Revenue and Customs.

It shows exports grew by 9.5% between the third quarter of 2010 and the third quarter of 2011.

The fastest growing export market was the so-called BRIC countries of Brazil, Russia, India and China.

Exports to those countries rose by almost 30%, although that is from a low base.

The value of exports to those countries rose from £107m to £139m, which represents less than 3% of total exports.

The largest single export market is still the Republic of Ireland. It was worth £2.1bn, which is 37% of the total export market.

Enterprise Minister Arlene Foster said Northern Ireland must diversify its export base to avoid over-reliance on a small number of markets and to take advantage of opportunities in the faster growing emerging economies.

The details are contained in the latest edition of the department's economic commentary.

Source - bbc.co.uk