For the year 2024
DREM releases the publication of International Trade Statistics

The Regional Directorate of Statistics of Madeira (DREM) has released today the annual publication of the International Trade Statistics, containing the final results for 2024. To enable year-on-year comparisons, the tables also include results for 2022 and 2023.

This publication on the International Trade of Goods presents regional information on trade of goods with the European Union and Third Countries, based on data provided by enterprises headquartered in the Region.

The publication includes data on exports and imports (both broken down into intra-EU and extra-EU classes) by:

• Product group;
• Section and chapter of the Combined Nomenclature (CN);
• Classification by Broad Economic Categories (CGCE);
• Classification of Products by Activity (CPA);
• Classification of Economic Activities (CAE-Rev.3);
• Ranking of the main countries with which the Autonomous Region of Madeira (ARM) trades;
• Ranking of the main groups of traded products.

Imports increased more than exports in 2024, but the Region maintained a trade surplus in goods with foreign countries

According to the final 2024 data on International Trade of Goods, the trade balance recorded a surplus of around 66.3 million euros, below the 77.4 million euros registered in the previous year.

The analysis by flow type shows that exports totalled 367.7 million euros in 2024, a 4.9% growth compared with the previous year, corresponding to an increase of +17.2 million euros. Historically, the value of exports in 2024 was the highest ever recorded.

The overall growth in exports was driven by exports to Intra-EU countries, which rose from 130.4 million euros in 2023 to 162.4 million euros in 2024. Conversely, trade in goods with Extra-EU countries amounted to 205.4 million euros in 2024, below the 220.1 million euros recorded in 2023.

Imports reached 301.4 million euros, an increase of 10.4% in 2024, i.e., 28.3 million euros more than in the previous year. This growth was mainly due to acquisitions from Intra-EU countries, which totalled 249.7 million euros in 2024, 38.1 million euros more than in 2023. Purchases from Extra-EU countries decreased from 61.5 million euros in 2023 to 51.8 million euros in 2024. The value of imports in 2024 was the second highest ever recorded.

As mentioned above, the trade balance recorded a surplus of around 66.3 million euros (-11.1 million euros compared with 2023), corresponding to a coverage rate of imports by exports of 122.0% (128.3% in 2023).

According to DREM’s analysis, enterprises licensed in the International Business Centre of Madeira (IBC) accounted for exports worth 277.4 million euros in 2024, higher than the 263.9 million euros observed in the previous year. The share of these enterprises in total exports was 75.4% in the year under review (75.3% in 2023).

With regard to imports by enterprises registered in the IBC, the value of goods acquired from foreign enterprises in 2024 amounted to around 125.8 million euros, slightly below the 126.6 million euros recorded in the previous year. Consequently, the share of imports by enterprises registered in the IBC in the total imports fell from 46.4% in 2023 to 41.7% in 2024.

DREM publishes an update of the International Trade Statistics Time Series (1976–2024)

Alongside the release of International Trade Statistics 2024 – Final Results, DREM updated the time series of International Trade Statistics.

Although the series contains data from 1976 to 2024, greater detail is available for the period after 1993. A table is also provided with the main data from 1976 to 1992, including information on the Autonomous Region of Madeira trade with the rest of the country, namely Mainland Portugal and the Autonomous Region of the Azores.

In addition to the breakdown into intra- and extra-EU trade, information is provided according to:

• Economic areas and countries;
• Group of products (GP);
• Section and chapter of the Combined Nomenclature (CN);
• Classification by Broad Economic Categories (CGCE);
• Classification of Products by Activity (CPA);
• Portuguese Classification of Economic Activities (CAE). 

For further information, please consult:

• Dashboard (Portuguese only)
• In Focus (Portuguese only)
• Publications (Portuguese only)
• Complete time series

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