DREM measures the impact of one year of conflict in Ukraine on the Autonomous Region of Madeira's economy

The Regional Directorate of Statistics of Madeira (DREM) releases today a special "In Focus", marking one year of conflict between Russia and Ukraine, which began on the 24^th of February 2022, and resulted from the Russian invasion of Ukrainian territory.

According to the current data available and taking in account the areas most affected, four topics have been selected: International Trade, i.e. transactions with those countries; Tourism, i.e. guests and overnight stays by residents in those countries; Consumer Price Index, i.e. impact that the invasion had on price escalation in the world economy; and Housing Loans, due to the increase in the interest rate and in the interest component in the monthly payments.

The section headings in this “In Focus” are as follows:

International Trade - Exports to belligerent countries more affected than imports

Tourism - Despite the reduction compared to 2021, in 2022, the Ukrainian market was more important than the Russian one 

Consumer Price Index - Reduction of fuel tax rates allowed the inflation rate to be lower in 2022 in the Region than in the country

Housing Loans - Implicit interest rate grows for 10 consecutive months and reaches maximum since June 2012.

For more information, please click on:

• In Focus (Portuguese only)

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