DREM releases information on the invoiced value for the period from March to December 2019 and 2020 based on the “E-Fatura system”

Following the release by Statistics Portugal (INE) of the impact of COVID-19 on the regional economies, based on information from “E-fatura”, the Regional Directorate of Statistics of Madeira (DREM) asked the aforementioned Institute for more detailed data, in order to assess the impacts on the economic units of the Region by industry. It should be noted that under the framework of the agreement between the Tax and Customs Authority (AT) and INE, this Institute receives information about “E-fatura”, which allows to monitor the behavior of the economy in a detailed perspective. The period under analysis in this press release is from March to December 2019-2020.

Between March and December 2020

Invoiced value in the Region decreased by 21.6% year-on-year

Between March and December 2020, the invoiced value in the Autonomous Region of Madeira (ARM) decreased by 21.6% year-on-year, a more pronounced drop  than the one recorded at national level (-14.3%) by 7.3 percentage points (pp). In the context of the 7 NUTSII regions, only the Algarve (-27.4%) had a worse performance. The fact of Algarve and the ARM being the regions of the country with a more pronounced decrease in the invoice value is related to the dependence on Tourism in both economies and these declines reflect the dimension of this activity in each of the regions. Área Metropolitana de Lisboa (-18.2%) also showed a reduction above the national average, in contrast to the Autonomous Region of the Azores (-12.9%), Alentejo (-10.1%), Norte (-9.6 %) and Centro (-9.1%).

If the period under analysis is divided into two subperiods: from March to July (which partially coincided with more restrictive measures to fight the pandemic, namely with population confinement) and from August to December 2020, it appears that the year-on-year decline in invoiced value was higher in the first period (-25.2%) compared to the second (-18.2%). In both subperiods, the ARM performed more negatively than the national average, by 6.3 pp and 8.4 pp, respectively.

The breakdown by industry shows that, between March and December 2020, “Accommodation activities” (-73.3%), “Arts, entertainment and recreation activities” (-57.1%) and “Administrative and support service activities” (-50.1%) showed the largest drops in invoiced values ​​compared to the same period of 2019. These means that these industries stood below 50% of the amount recorded between March and December 2019.

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