Business, Feature, Freight News, Sea


Motor of the Ulster economy

[ November 4, 2025   //   ]

Belfast Harbour drives 15% of Northern Ireland’s entire output, according to a commissioned report by the Ulster University Economic Policy Centre and Grant Thornton, published on 4 November.

It handles freight valued at £26.7bn each year, says the document, entitled Belfast Harbour: An Economic Driver for the Region. 

The research analysed activity in the port in 2023 and found that three-quarters of the 24 million tonnes of trade handled by Belfast Harbour that year, was goods-related, accounting for over 67% of all goods moved through NI ports. This includes raw materials, components and for industries such as agri-food, construction and manufacturing.

It focused on five key areas: the economic activity generated by Belfast Harbour, the contribution Belfast Harbour’s capital investment provides to the  construction sector, the value of trade flowing through the port, the effect of cruise tourism, and the broader economic output of the Belfast Harbour Estate.

The activity is estimated to support £8.8bn in total Gross Value Added (GVA) to the regional economy and equates to 15.7% of NI’s total economic output, supporting over 155,000 jobs, or 16.7% of all jobs in the region and 43.4% of the jobs in trade intensive sectors.

UUEPC also noted that the Belfast Harbour Estate is home to Sprit Aerosystems, Harland & Wolff, Catalyst, Titanic Belfast, Citi and Belfast Metropolitan College, among others. The 760 businesses within the estate’s footprint support over 20,000 jobs and contribute a further £1.8bn worth of GVA to the local economy.

Looking ahead, the report said the £313m in capital investments being made as part of Belfast Harbour’s current five-year strategy 2025-29, ‘Advance Regional Prosperity’ will generate £117.5m in GVA and support 850 construction jobs, reinforcing Belfast Harbour’s commitment to regional growth.

Chair of Belfast Harbour, Dr Theresa Donaldson, said: “The report clearly validates the significant contribution Belfast Harbour already makes to the NI economy and provides important context for our upcoming 2050 Masterplan, our long-term blueprint to advance regional prosperity. As a Trust Port, we reinvest all our profits, enabling £374 million of self-funded investment over the last decade. We firmly believe our impact extends far beyond the port, and we are committed to delivering even more for people here.”

She added: “Our ambitious plans for further transformational investments rely on the reclassification of our accounting status, a process to enable this is currently awaiting approval from the NI Executive. With this change, we can retain our Trust Port status while increasing our borrowing capacity to prudently grow our investments. This will inject much-needed capital into the economy without drawing on public funds, allowing us to continue providing world-class facilities and fostering growth in partnership with our customers, tenants, and community.”

Belfast Harbour chief executive, Joe O’Neill, added: “We recognise the vital role we play in the local economy, which is highlighted in this analysis, and remain committed to providing the capacity and services needed to support trade to and from NI. While we are understandably proud of these figures, Belfast Harbour is not resting on its laurels. Our 2050 Masterplan, which launches for public consultation next month, will mark the next step in Belfast Harbour’s evolution and enable us to have an even greater impact on the city and region.” 

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