New analysis from InterTradeIreland projects cross-border services trade between Northern Ireland and Ireland could increase by up to €4.2 billion (£3.7 billion). Their All-Island Tradable Services Report, commissioned for Oxford Economics, shows this sector expanded dramatically over the past decade, from roughly £800 million in 2011 to £5.3 billion in 2024.
Services trade accounts for around a quarter of all trade between Northern Ireland and Ireland, and includes everything from architects and engineers working on projects across the border, to technology firms, financial services providers, consultants, healthcare specialists and cybersecurity companies serving clients in another jurisdiction.
The report identifies the clear potential for further growth, and an indicative assessment shows targeted measures to help businesses overcome barriers to cross-border trade could unlock up to €4.3bn in additional services activity over time. Many of the sectors identified in the report align with economic priorities, including construction, financial services, fintech, cybersecurity, professional services and life sciences.
According to Margaret Hearty, chief executive of InterTradeIreland, “this research shows that the cross-border services trade is already a major contributor to economic growth across the island.” While businesses told her that trading across the border is generally easier than many people think, some smaller firms can still face challenges in understanding regulatory requirements.
Services businesses, unlike those in goods trade, often encounter a more complex regulatory environment. However, the research found that these challenges are usually less formidable than anticipated. InterTradeIreland’s Trade Hub is actively working to dismantle these barriers by providing clear, practical guidance and access to expertise.
Enterprise Minister Peter Burke emphasized the substantial untapped potential revealed by the report, particularly in sectors like construction services, financial services, technology and life sciences, where businesses can benefit from deeper collaboration, stronger cluster development and access to new markets.
NI Economy Minister Dr Caoimhe Archibald said it was “particularly encouraging to see Northern businesses performing strongly in the Irish market and building a significant services export base across a wide range of sectors.” The report recommends increasing visibility of business and procurement opportunities across both jurisdictions; strengthening cross-border networks, partnerships and sector clusters to help firms identify new customers and markets; and improving the evidence base and data available to businesses, policymakers and economic stakeholders.
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