In 2023

The value of works carried out by construction enterprises headquartered in the Autonomous Region of Madeira increased by 17.5% compared to the previous year

According to data from the Annual Survey of Construction Enterprises (IAEC), in 2023, the total value of works performed by construction enterprises in the Autonomous Region of Madeira (ARM) amounted to 904.4 million euros, reflecting a rise of 17.5% compared to the previous year. This represents the highest value recorded since 2009. Of this amount, 69.5% pertained to building works (628.8 million euros), while the remaining 30.5% pertained to civil engineering works (275.5 million euros), the former having been the driving force (+32.2%) for the overall increase, whilst the latter registered a decrease (-6.3%). It is noteworthy that new constructions contributed the most (share of 52.5%) to the overall value of the construction sector's activity in the ARM.

Construction enterprises with 20 or more employees accounted for 72.6% of the total value of works carried out, generating approximately 656.5 million euros, an increase of 16.6% from 2022. In this category of enterprises, the works carried out in building construction represented 65.3% of the total value of work performed, significantly outweighing civil engineering works (34.7%). This mirrors the distribution observed in the previous year (53.6% and 46.4%, in the same order). Works carried out in building construction represented, in the reference year, around 428.8 million euros, an increase of 42.0% compared to the previous year.

For smaller-sized enterprises (under 20 employees), the work value amounted to 247.8 million euros, an increase of 20.0% from 2022. The majority of this value came from works carried out on buildings (80.7% of the total value, i.e., 200.1 million euros), with the largest share (38.0%) related to new constructions in buildings.

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