DREM publishes issue of the Quarterly Statistical Bulletin for the 2^nd quarter of 2024

The Regional Directorate of Statistics of Madeira (DREM) releases today a new issue of the Quarterly Statistical Bulletin (QSB) dedicated to the 2^nd quarter of 2024.

Below is a summary of the main conclusions drawn from the Synthesis.

Majority of statistical indicators for the 2^nd quarter of 2024 show generally positive trends

The statistical indicators for the 2^nd quarter of 2024 show favourable trends for the most part.

The Regional Indicator Economic Activity (RIEA) suggests that the economic activity in the Autonomous Region of Madeira (ARM) slightly accelerated compared to the previous quarter.

In the 2^nd quarter of 2024, the regional unemployment rate stood at 5.2%, 0.7 percentage points (pp) lower than in the previous quarter and 1.2 pp compared to the same quarter of the previous year.

In the quarter under review, the average gross monthly earnings per employee registered a year-on-year nominal change rate of 6.1% in the Region, standing at 1,589 euros, and the real change was also positive, at 2.6%.

In June 2024, in the ARM, the inflation rate, measured by the 12-month average change in the Consumer Price Index, stood at 3.3% (2.5% at the national level), -0.3 pp compared to the previous March (3.6%). The year-on-year change in June 2024 was 3.5%.

The monetary data, produced by Banco de Portugal and dissemination by DREM, show that the non-performing loans ratio of non-financial companies stood at 0.9% in June 2024, -0.2 pp than in the previous March and 1.3 pp lower than in June 2023. In the households and NPISH (Non-Profit Institutions Serving Households) sector, this ratio stood at 0.8%, remaining unchanged from the previous quarter.

According to SIBS data, in the quarter under review, withdrawals added to purchases through automatic payment terminals show year-on-year increases of 9.2%, 6.7% and 17.7%, in the overall total, in domestic cards and international cards, respectively.

In the referenced quarter, the balance between companies incorporated and dissolved in the Autonomous Region of Madeira was positive (+225 companies), as the number of incorporations of companies with head office in the Autonomous Region of Madeira (385) was higher than the number of dissolutions (160).

In the agriculture sector, the sale of bananas, in the 2^nd quarter of 2024, fell compared to the same quarter of the previous year (-9.6%), as well as the value of landed fish, which recorded a year-on-year decrease of 11.8%, mainly due to the negative performance of tuna and similar (-50.5%). In turn, egg production (11.8%) and chicken slaughter (+0.3%) increased compared to the same quarter of the previous year, while livestock slaughter decreased by 11.9% year-on-year.  

In the field of energy, it should be noted that electricity distribution increased by 1.4% in the 2^nd quarter of 2024, year-on-year.

In the construction sector, the sale of cement (first sale) increased, in the 2^nd quarter of 2024, by 16.8% compared to the same period last year. On the other hand, the number of licensed buildings registered a year-on-year drop of 5.6%. The number of housing transactions recorded a quarterly and year-on-year increase of 20.1% and 5.2%, respectively. In value, this indicator grew 17.6% compared to the previous quarter and 1.6% compared to the same quarter of the previous year. In June 2024, the value of the bank appraisal of housing increased by 2.1% compared to the previous month and by 17.9% compared to the same month of the previous year.

The sale of "Madeira" wine in the 2^nd quarter of 2024 recorded negative year-on-year changes in both volume (-3.6%) and value (-7.6%). Similarly, banana sales dropped by 9.6% year-on-year.

In the same period, passenger traffic at the ARM airports grew by 6.0% year-on-year, in line with overnight stays and total revenue from tourist accommodation, which rose by 7.1% and 15.6%, respectively, compared to the same quarter of the previous year.

In maritime transport, the movement of goods in the ARM ports decreased by 6.8% in the 2^nd quarter of 2024 year-on-year.

For more information, please click on:

• Publications (Portuguese only)

Back

• Prev
• Next