In 2022

Aggregate value of withdrawals with purchases through automatic payment terminals of the SIBS network in the Region grew by 22.6%

In 2022, the amount related to the two main operations of the SIBS network (withdrawals and purchases through automatic payment terminals), taken together, reached an amount of 2,376.2 million euros (+22.6% compared to 2021), 1,867.2 million euros with national cards (+13.9% than in the previous year) and 509.0 million euros with international cards (+71.1% than in 2021). The sharp rise in the amounts of transactions associated with international cards is in line with tourist accommodation statistics, which show a very sharp growth in overnight stays in the first eleven months of 2022 (+96.5%).

Withdrawals totalled 737.0 million euros, of which 669.6 million euros with national cards and 67.4 million euros with international cards, representing increases of +7.7%, +4.9% and +45.7%, in the same order.

In turn, purchases through automatic payment terminals (POS) were around 1,639.3 million euros, of which 1,197.6 million were with national cards and 441.7 million euros with international cards. Compared to 2021, the changes were also positive, +30.8%, +19.5% and +75.7%, respectively.

In the aforementioned period, payments totalled 190.9 million euros, corresponding to an increase of 14.0%.

Data by municipality shows that in Funchal, withdrawals and purchases in aggregate stood at 1,478.4 million euros, which corresponds to 62.2% of the total of the Region. On the other hand, Porto Moniz was the municipality with the lowest value in this indicator, standing at 16.8 million euros. In terms of growth regarding the previous year, Porto Moniz was the municipality with the largest increase (+50.8%), with Machico (+6.6%) at the other end of the scale. In Funchal, the change was +25.6%.

In the 4^th quarter of 2022, the value of withdrawals added to purchases via POS rose to 645.2 million euros, split into 197.7 million euros in withdrawals and 447.5 million euros in purchases through POS.

Week from the 19^th to the 25^th of December was the one with the highest withdrawals plus purchases through POS amount

Given that the information available allows for more detailed analysis in terms of the evolution of the amounts transacted on the SIBS network, DREM presents, as in the previous year, an analysis of the period between the 1^st week of November and the end of the year, as it is a very intense time of year in terms of shopping.

Thus, in the 1^st week of the period under review (week 44, from 31^st October to 6th November) the value of POS withdrawals and purchases stood at 48.3 million euros, growing by 3.6% compared to the previous week, and rising by 23.1% over the same week last year. In the Black Week (week 47, from November 21^st to November 27^th), the amount of the aforementioned operations totalled 49.0 million euros, up by 4.6% over the previous week and up by 12.4% over the same week in 2021. In the following weeks, the aggregate of withdrawals and purchases via POS grew successively until Christmas, reaching a peak in the week ending on Christmas Day with a sum of 60.0 million euros, +14.5% on the previous week, and +29.7% on the same week in the previous year. It should be noted that in 2021, the week with the highest turnover was from 13 to 19 December. In the week after Christmas (the last week of 2022), the value of transactions returned to the levels of the first week of the period under review (week 44), with the aggregate of withdrawals and purchases via POS standing at 48.9 million euros.

DREM updates the time series on the SIBS network operations

Since the year 2022 has come to an end, DREM updated the time series on the SIBS network operations, most of which began in 1997. Data on operations, withdrawals, consultations, payments, purchases through POS, number of terminals and ATMs are now available.

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