In the first half of 2023
Trade balance of the Autonomous Region of Madeira with foreign countries amounted to 31.6 million euros
During the first half of 2023, the trade balance of the Autonomous Region of Madeira (ARM) with foreign nations stood at 31.6 million euros, according to preliminary data. This figure represents a decrease compared to the corresponding period of the previous year (34.2 million euros). This translates to a trade coverage rate of 121.3%, which is lower than the 125.2% observed in the first six months of 2022.
In this period under review, the total exports from companies headquartered in the ARM reached approximately 180.3 million euros, marking a 6.0% increase compared to the first half of 2022. Meanwhile, imports amounted to 148.7 million euros, signifying a 9.4% rise compared to the same period of the preceding year. During the first half of 2023, most exported goods were destined for third countries (accounting for 68.4% of the total), while imports continued to be dominated by European Union countries (74.8%).
Final data for 2022 from the International Trade Statistics is now available
Today, the Regional Directorate of Statistics of Madeira (DREM) is releasing the final results of the "International Trade Statistics" for the year 2022. More detailed information, along with the update of the time series of International Trade Statistics (1976-2022), will be published in October.
Madeira records a positive trade balance with foreign countries for the sixth consecutive year
The final data for International Goods Trade in 2022 reveals that the trade balance for goods transactions resulted in a surplus of approximately 15.0 million euros. This amount is lower than the previous year's figure, where the positive trade balance with foreign countries had reached 20.3 million euros.
An analysis by flow type reveals that exports witnessed a 34.4% increase in 2022, reaching a total of 359.2 million euros, which is an increase of 92.0 million euros from the previous year. The substantial growth in exports was primarily driven by increased exports to Extra-EU countries, amounting to around 236.2 million euros in 2022, significantly higher than the 166.6 million euros recorded in 2021. Trade transactions involving Intra-EU countries increased from 100.6 million euros in 2021 to 123.0 million euros in 2022.
Imports totalled 344.2 million euros, reflecting a 39.4% growth in 2022, which is an increase of 97.3 million euros. The notable rise in imports was mainly influenced by transactions with intra-community countries, surpassing 233.8 million euros in 2022, which is 68.5 million euros higher than the previous year's figure. Conversely, acquisitions from Extra-EU countries increased from 81.7 million euros in 2021 to 110.4 million euros in 2022.
It is important to highlight that there was a significant revision in the provisional 2022 data, particularly in the import values, totalling approximately 73.5 million euros. This adjustment was largely attributed to the acquisition of a vessel by a company based in the Madeira International Business Centre (CINM).
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