In April 2021

The regional economy reversed the trajectory

The Regional Indicator of Economic Activity (RIEA) shows that the economic activity of the Autonomous Region of Madeira, in April, broke the 13-month negative cycle caused by the COVID-19 pandemic.

The RIEA, which measures the development of economic activity, compared with the same period of the previous year, as expected, grew sharply, which is explained by the near paralysis of the economy in April 2020, a fact that is also shared by the national IEA made by Statistics Portugal (INE).

As mentioned in the first release of the RIEA, in October 2017, its purpose is “to signal the behaviour of economic activity, namely concerning its direction and magnitude of fluctuations: whether it is in positive or negative ground, accelerations, decelerations and the identification of turning points”. Its quantitative value is therefore of secondary importance, not being a substitute for the real change of the Gross Domestic Product - determined with a more varied and complete set of statistical information - although there is a strong correlation between the two variables. It should also be noted that the RIEA is subject to revisions whenever the final information from the Regional Accounts becomes available.

Monthly Economic Indicators – April 2021

Together with the RIEA, the Monthly Economic Indicators – April 2021 are also published. They are an instrument for monitoring the economic situation, providing the most recent data on regional economic activity.

For more information, please click on:

• RIEA - In Focus (Portuguese only)

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