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In 2020

Pandemic caused a 25.1% fall in the Gross Value Added of the companies headquartered in the Autonomous Region of Madeira

The Regional Directorate of Statistics of Madeira (DREM) releases today on its official statistics website, provisional data for 2020 concerning non-financial companies headquartered in the Autonomous Region of Madeira. These data will become final during the first quarter of 2022.

The set of tables now released contains information for the 2015-2020 period. Some of the information of this statistical area will only be released when the final results are available.

In 2020, and despite the COVID-19 pandemic, there were 29,486 enterprises of the non-financial sector headquartered in the Autonomous Region of Madeira, up by 2.9% over the previous year, a growth which stood above national average (+2.8%). Regarding employment, compared to 2019, there was a 0.8% increase, to a total of 80 068 employed persons. It should be noted that in the country, the employed persons in non-financial companies decreased by 0.5%.

 Empresas nao Financeiras EN

In 2020, the turnover generated by Madeira’s companies stood at 5,605.7 million Euros, down by 2.7% from 2019 (-9.6% in the country). The Gross Value Added, (GVA), which roughly corresponds to the difference between output and intermediate consumption,  stood at 1,334.2 million Euros, decreasing by 25.1% from 2019 (-10.1% in the country). The Gross Operating Surplus (EBE) - which corresponds to the difference between GVA and compensation of employees, discounting taxes on products net of subsidies - and the Net Profit of the period, also showed a negative performance compared to 2019, decreasing by 42.5% and by 43.3%, respectively, to 470.7 million Euros and 386.0 million Euros.

According to the legal form, 91.2% of the GVA was generated by companies and 8.8% by individual enterprises. By size, the data show that Small and Medium Enterprises (SMEs) concentrated 78.9% of the GVA while the 23 large-sized companies headquartered in the Region were responsible for 21.1%.

By economic activity, the most important sector was “Wholesale and retail trade; repair of motor vehicles and motorcycles” (254.5 million Euros, 19.1% of the total GVA), followed by “Construction” (192.0 million euros, 14.4% of the GVA), “Accommodation and food service activities” (131.1 million euros, 9.8% of the GVA) and “Transport” (125.8 million euros, 9.4% of the GVA). It should be noted that in 2019, the "Accommodation and food services activity" was the most important activity, concentrating 21.5% of the total GVA, thus verifying a reduction of 11.7 percentage points (pp) between 2019 and 2020. "Trade" increased by 2.6 percentage points (pp) compared to the previous year, followed by "Construction" by 1.9 pp. On the contrary, "Transport and storage" lost relevance (-0.9 pp).

Labour productivity of non-financial corporations reached 22,160 euros per person employed in 2020, down by 22.2% over the previous year (-7.2% in the country).

The average compensation of employees was 13,250 euros per person employed, decreasing by 2.3% compared to the previous year (+1.1% in the country).

 

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