DREM releases "In Focus" on COVID impact in 2021

The Regional Directorate of Statistics of Madeira (DREM) publishes today a new "In Focus" in which the effects of the COVID-19 pandemic on the Region's economic and social life in 2021 are addressed.

The main conclusions are summarized below:

Mortality - Number of deaths in the first eight months of 2021 exceeds that of the last two years

Natality - Number of live births in the first half of 2021 was a historical minimum

Nuptiality - Marriages recovered in 2021

Health - Number of cases of COVID per inhabitant in the Autonomous Region of Madeira is less than half the national average

Labour Market - Unemployment rate converging to pre-pandemic level; Underutilisation rate falls below 20%; Employed population absent from work in the reference week with a remarkable drop; Hours effectively worked growing; Registered unemployment falling since April 2021; Labour Cost Index fell in the 2nd quarter of 2021 due to the increase in hours worked; Layoff with a minimum in August 2021 since the start of the pandemic

Regional Indicator of Economic Activity - Economy reversed a downward trend in April 2021

International Trade - Exports and imports down year-on-year; Madeira wine sales recover in 2021

Construction and Housing - Number of buildings permits remained unchanged and of completed buildings increased; Cement sales grew sharply; Average value of loan repayments still far from pre-pandemic levels; Housing market values practically immune to the pandemic; Dwelling sales at a record value in the 2nd quarter of 2021

Companies - Incorporation of companies more dynamic

Bankruptcies/Insolvencies - Pandemic still without visible effects

Introduction in fuel consumption - Quantities introduced in the consumption of the main fuels also recovering, although partially

Distribution of electricity  - Distribution of electricity  above 2020, but below 2019

Consumer Price Index - Inflation rate remains negative, but with an upward trend

Monetary and financial sector -  Aggregate of cash withdrawals and purchases through automatic payment terminals in the Multibanco network grew pronouncedly; Bank loans to non-financial corporations rose in 2021 at a slower pace

Transport – Movement of passengers on land and air transport recovers

Tourism - Exponential year-on-year growth since April 2021

Population mobility - Population mobility grows since April 2021

Tax revenues - Tax revenues are below 2020 levels

Environment - Nitrogen dioxide pollution in Funchal remains at 2020 level

Cinema - Fall in the main indicators in the first seven months of 2021

 For more information, please click on:

• In Focus (Portuguese only)

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