In 2024

Region’s trade balance with foreign countries recorded a surplus of 98.2 million euros

According to provisional data for the year 2024, the trade balance of the Autonomous Region of Madeira with foreign countries recorded a surplus of 98.2 million euros (77.4 million euros in 2023), thereby maintaining the trend observed since 2017 of positive balances between exports and imports of goods. The coverage rate of imports by exports in 2024 stood at 135.9%, exceeding the 128.3% recorded in the previous year.

In 2024, total exports by enterprises headquartered in the ARM amounted to approximately 372.0 million euros, representing a 6.1% increase compared to 2023, marking a new historical high. Meanwhile, imports totalled 273.8 million euros, reflecting a modest growth of 0.2% from the previous year.

During the reference year, the majority of exported goods were destined for non-EU countries (57.0% of the total), whereas imports continued to be predominantly sourced from European Union countries (81.0%).

It is important to note, however, that this data pertains solely to foreign trade conducted by enterprises headquartered in the Autonomous Region of Madeira, which constitutes only a small fraction of the total inflow and outflow of goods in the Region. In fact, the majority of the ARM’s commercial exchanges take place with mainland Portugal. At present, there are no statistical data available on this type of trade. Additionally, the role of enterprises registered in the Madeira International Business Centre (CINM) in international trade flows should also be highlighted. According to the latest study by the Regional Directorate of Statistics of Madeira (DREM), which examined the year 2023, enterprises based in the CINM accounted for 75.3% of exports and 46.4% of imports.

For further information, please refer on:

• Dashboard - Monthly Economic Indicators (Portuguese only)

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