In 2024

Number of enterprises and persons employed in trade enterprises headquartered in the Autonomous Region of Madeira increased, but turnover decreased

In 2024, the trade enterprises headquartered in the Autonomous Region of Madeira generated a turnover of 3 700.3 million euros (-2.5% compared with the previous year) and employed 14 782 persons (+3.2% compared with the previous year).

In terms of detailed information, it is important to emphasise that the trade sector is composed of three activities: Wholesale and retail trade and repair of motor vehicles and motorcycles (NACE Rev. 2, Division 45), Wholesale trade (Division 46) and Retail trade (Division 47).

The 3 723 enterprises (+0.3% compared with 2023) operating in the trade sector were distributed as follows: 662 enterprises engaged in the trade, maintenance and repair of motor vehicles and motorcycles (17.8% of the total), 1 113 focused on wholesale trade (29.9% of the total), and 1 948 related to retail trade (52.3%).

Turnover in trade activity was concentrated mainly (52.8%) in wholesale trade (1 955.5 million euros), with 37.4% (1 384.4 million euros) corresponding to the retail trade and 9.7% (360.4 million euros) the motor vehicle trade and repair sub-sector covering both sales and maintenance activities.

The number of enterprises in the trade sector represented 10.4% of all non-financial enterprises operating in the Region (11.0% in 2023), which generated 35.5% of the total turnover of all non-financial enterprises (38.8% in 2023). Regarding employment, this sector employed 14.2% of all employees in non-financial enterprises (14.6% in 2023), and 85.5% of the trade margin of all these enterprises was generated by trade sector enterprises (97.4% in 2023).

Compared with 2023, trade companies recorded decreases of 5.7% in trade margin and 2.5% in turnover, and an increase of 8.9% in Gross Value Added (GVA). Compensation of employees rose by 10.4%, the number of employees increased by 3.2%, and the number of enterprises grew by 0.3%.

Enterprises engaged in the trade, maintenance and repair of motor vehicles and motorcycles recorded increases of 10.1% in GVA, 9.7% in compensation of employees, 4.2% in employment, and 1.2% in the number of enterprises. Trade margin and turnover decreased by 7.4% and 2.8%, respectively, compared with 2023. The average trade margin per enterprise fell by 8.5% (from 70 euros thousand in 2023 to 64 euros thousand in 2024). 

In a product analysis – published for the first time for the ARM – sales of “motor vehicles” represented 64.3% of total turnover in the motor vehicle trade activity (60.8% in 2023). Sales of “parts and accessories” accounted for 16.1% of total sales (25.6% in 2023), while “motor vehicle maintenance and repair services” represented 13.3% (7.4% in 2023). Among the 10 main products sold in this activity, the most notable were “light vehicles wholesale” (39.4%; 16.2% in 2023), “motor vehicle maintenance and repair services” (13.3%; 7.4% in 2023), and “light vehicles retail” (12.7%; 27.4% in 2023).

Wholesale trade recorded decreases of 20.0% in trade margin and 7.3% in turnover. Compensation of employees, number of enterprises, GVA and employment increased by 7.9%, 3.7%, 3.1% and 2.7%, respectively, compared with the previous year. The average trade margin per enterprise fell from 273 thousand euros in 2023 to 210 thousand euros in 2024 (-22.9%).

The three main product groups traded in wholesale activity were “specialised wholesale trade, n.e.c.”  accounting for 40.2% (40.5% in 2023; -7.8% in value compared with the previous year), “food products, beverages and tobacco” with 24.0% (21.1% in 2023; +5.6% in value), and “household consumer goods”, with 12.8% ( +0.9 pp; -0.3% in value). The most traded products in wholesale were “other intermediate goods (paper and cardboard, textile fibres, plastics)” with 25.3% (23.6% in 2023), followed by “motor fuels” (9.3%; 8.7% in 2023) and “pharmaceutical, medical and orthopaedic products” (8.7%; 7.7% in 2023).

Retail trade, in turn, recorded an increase of 13.2% in GVA (+15.2% in 2023), with turnover rising by 5.1% (+9.8% in 2023) and compensation of employees increasing by 12.0% (+12.8% in 2023). The number of persons employed also increased (+3.1%, following +2.4% in 2023). The average trade margin per enterprise increased by 8.8% compared with 2023, reaching 197 thousand euros (182 thousand euros in 2023).

Sales of “food products, beverages and tobacco”, including fruit and vegetables, meat, fish, bakery products, milk and derivatives and eggs, as well as other food products, accounted for 42.3% of retail trade sales (+0.5 pp compared with 2023; +6.3% in value). This was followed by “motor fuels and other new goods”, including jewellery and watches, photographic and optical equipment, cleaning products (18.6%; -1.3 pp; -1.6% in value compared with 2023), and “clothing, medical and pharmaceutical products, hygiene items, etc.” (18.3%; +0.6 pp; +8.3% in value compared with 2023). The main product sold in retail trade continued to be “motor fuels” (11.6%; -0.1 pp compared with 2023), followed by “milk and dairy products” (11.2%; +0.4 pp compared with 2023) and “rice, pasta, flour and other cereals” (9.8%; +1.5 pp compared with the previous year).

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