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In 2016 and 2017, the GDP growth in the Autonomous Region of Madeira stood above national average

Statistics Portugal (INE) released today the results for the Regional Accounts of 2016 (final) and 2017 (provisional).

In 2016, the Gross Domestic Product (GDP) of the Autonomous Region of Madeira increased by 2.2% in volume above national average (+1.9%). This result shows that the Madeiran economy entered in a period of economic growth, which started in 2014, after three years of economic decline.

The estimated GDP for the Autonomous Region of Madeira in 2017 is 4,607.7 million euros, increasing by 4.7% in value and by 3.1% in volume. The GDP of the Portuguese economy increased by 4.4% in value and by 2.8% in volume.

The growth in 2016 and 2017 received an important contribution from “Trade, transportation and accommodation and food service activities” whose GVA went up by 6.2% and 5.9% in those years, respectively.

Gross Fixed Capital Formation (GFCF) amounted to 547.5 million euros, up by 0.3% from the previous year. In the country the growth rate was more pronounced (+3.5%).

In 2017, the GDP per inhabitant stood at 18.1 thousand euros, below the country’s ratio (18.9 thousand euros).

In that year, the GDP per capita disparity indexes in relation to the national and EU average were 95.8 and 73.4, respectively.

Gross Disposable Income (GDI) rose by 3.1% in 2016, standing at 11,747 euros per inhabitant, which means that the disparity index increased to 97.4.

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