Statistics Portugal released the final results of the Regional Accounts for 2014 and the preliminary results for 2015

Statistics Portugal (INE) released today the results for the Regional Accounts of 2014 (final) and 2015 (preliminary).

In 2014, the Gross Domestic Product (GDP) of the Autonomous Region of Madeira (ARM) increased  by 2.0% in volume, compared to 2013. The GDP had been falling in real terms since 2011 and the 2014 data show a reversal in that trend. Despite the important contribution of the GDP generated by Madeira’s International Business Center (IBC), the GDP of the rest of economy also grew by 1.3% in real terms. The real GDP growth in the country was 0.9%.

The estimated GDP for the ARM in 2015 is 4,158.9 million euros, increasing by 0.8% in value and dropping by 0.1% in volume. Once again the IBC played an important role in these results, this time contributing negatively. If the GDP generated by the activities in the IBC was excluded, the economy of the ARM would have grown by 0.2% in volume. The GDP of the Portuguese economy increased by 3.7% in value and by 1.6% in volume.

In 2015, the GDP per inhabitant stood at 16.1 thousand euros, below the country’s ratio (17.3 thousand euros).

In that year, the GDP per capita disparity indexes in relation to the national and  EU average were 93.2 and 71.6, respectively.

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