DREM releases last report on the impact of COVID

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

The main conclusions are summarised below:

Mortality - Deaths went up by 161 compared to 2020

Natality - Number of live births close to the aftermath of the previous economic and financial crisis

Nuptiality - Marriages recovered in 2021

Health - Number of cases of COVID-19 per inhabitant in the Region was, at the end of 2021, lower than the national average

Labour market - Unemployment rate in the 4^th quarter of 2021 was the second lowest in the last eleven years; Labour underutilisation rate in the 4^th quarter of 2021 close to pre-pandemic period; Employed population absent from work in the reference week fell by 30.0% in 2021; Hours effectively worked grew in 2021, but are still under the values of 2019; Registered unemployment and job applications falling and job offers at a 12-year  high; Labour cost index grew more slowly than in 2020, influenced by the increase in hours worked; Lay-offs under COVID-19 lost relevance in 2021

Regional Economic Activity Indicator - Economy recovers from the fall in 2020

International Trade - Exports in 2021 stood below 2019, in contrast to imports; Madeira wine sales value in 2021 above 2019 level

Construction and Housing - Buildings permits and buildings completed grew in 2021; Cement commercialisation at ten-year high; average loan repayments on housing credit converges to pre-pandemic value; Growth in median bank appraisal value of housing accelerated in 2021; Sales of housing at record highs

Companies - Number of active companies fell by 10% between 2019 and 2020, recovering from April 2021; In 2021, the number of formed companies was the highest in 17 years; Pandemic did not cause immediate effects in bankruptcies/insolvencies

Energy - Introduction of fuel consumption - 2021 quantities were below 2019 and prices went up; Electricity emissions increased but were below 2019

Consumer Price Index - Prices growth accelerating

Monetary and Financial Sector - ATM network - Value of withdrawals added from purchases through automated payment terminals grew sharply; Bank loans continued to rise

Transport - Passenger movement recovered, but was below 2019

Tourism - Portuguese market boosted recovery, which was only partial

Mobility - Mobility of the population close to normalcy

Tax Revenues - Tax revenues grew by 2.6% in 2021

Environment - Nitrogen dioxide (NO2) pollution in Funchal in 2021 at 2020 level since March

Cinema - Growth does not impede second lowest record of the century

For more information, please click on:

• In Focus (Portuguese only)

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