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The report says many jobs could "disappear almost overnight, especially in industries such as agri-food and haulage".
It also warns of "immediate and severe consequences" for NI competiveness.
Exports to the Republic of Ireland could fall by between 11% and 19%, it warns.
That includes the "significant danger" that most north-to-south agri-food trade would stop.
"The impact of EU tariffs and non-tariff barriers will mean that whatever the Irish Government or the EU may do or not do, many businesses will no longer be able to export to the Irish market," states the report.
Northern Ireland Retail Consortium (NIRC) director Aodhán Connolly said the report made for stark reading but should come as no surprise.
"Brexit is the biggest threat to our economy since the Troubles," he said. [...]
Northern Ireland Trade and Investment data under 'No Deal'