There were only 54 judgments worth £4.5 million in the High Court in 2018, a 51 per cent drop in number, a 73 per cent drop in total value, and a 44 per cent drop in average value.

Meanwhile, there were 8,021 judgments worth £17.1 million in the smalls claims court, representing an eight per cent drop in number and a five per cent drop in average value.

The total value of judgments in all courts was £21.6 million, compared to £36 million in 2017.

Mick McAteer, Registry Trust deputy chairman, said: “Northern Ireland saw a welcome fall in the number and value of judgments in 2018. It will be worth monitoring to see if judgment levels return to the lows seen in 2016.”