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DREM updates “In Focus” about the consequences of the COVID-19 pandemic in the Region

The Regional Directorate of Statistics of Madeira (DREM) updates today the In “Focus” concerning the consequences of the COVID-19 pandemic in the economic and social life of the Region, based on the most recent available data. The first edition of this “In Focus” was released on the last May 17th, the day in which DREM celebrated its 40th year as a regionalised organisation.

The main conclusions are summarised below:

Deaths – Deaths since the 17th March are higher than in the same period of last year and the same as in 2018

Health - Number of COVID cases per inhabitant in the Autonomous Region of Madeira is the lowest among the NUTS2 regions

Labour market – Registered unemployment on the rise

Regional Indicator of Economic Activity – COVID-19 related restrictions put a stop to a 81-month duration of economic growth

Commercialisation of “Madeira” wine – Data until May show drop in the sales

Construction and Housing – Building permits with sharp drop in April

Enterprises - Enterprises reopening as weeks go by

Formed and dissolved corporations - Formation and dissolution of corporation with low figures

Fuels released for consumption – Volume of fuels released for consumption dropped sharply and prices keep sinking

Distribution of electricity – Year-on-year decreases in April and May above 15%

Consumer Prices Index – Inflation rate increasingly negative

Multibanco Network – Highest drop in the amounts handled was in April, but May also had a huge drop

Transport - Number of passengers in air and sea was extremely low

Tourism – Overnight stays were residual in April

Environment – Level of NO2 pollution in Funchal with a sharp reduction

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