For the year 2023
DREM releases the “International Trade Statistics” publication
The Regional Directorate of Statistics of Madeira (DREM) has released today the annual publication of the “International Trade Statistics,” providing final results for the year 2023. To facilitate year-on-year comparisons, the tables also include data for 2021 and 2022.
This publication on the International Trade of Goods presents regional data on the trade of goods with the European Union and Third Countries, based on the information provided by enterprises headquartered in the Region.
The publication includes data on exports and imports (both broken down into intra and extra-EU classes) by:
- Product group;
- Section and chapter of the Combined Nomenclature (CN);
- Classification by Broad Economic Categories (CGCE);
- Classification of Products by Activity (CPA);
- Classification of Economic Activities (CAE-Rev.3);
- Ranking of the main countries with which the Autonomous Region of Madeira (ARM) trades;
- Ranking of the main groups of traded products.
Exports and imports decreased in 2023, but the Region continued to record a positive balance in the foreign trade of goods
According to the final data for 2023 on International Trade of Goods, the trade balance of goods transactions registered a surplus of approximately 77.4 million euros, a figure above the previous year, where the positive balance with foreign trade was 12.0 million euros.
The analysis by flow type shows that exports amounted to 350.5 million euros in 2023, representing a decrease of 1.4% compared to the previous year, equating to a change of -4.9 million euros. Nonetheless, historically, the value of exports in 2023 was the second highest ever recorded. The overall reduction in exports was driven by exports to Extra-EU countries, totalling around 220.1 million euros in 2023, down from the 233.6 million euros recorded in 2022. Conversely, trade with Intra-EU countries increased, rising from 121.8 million euros in 2022 to 130.4 million euros in 2023.
Imports stood at 273.1 million euros, showing a decrease of 20.5% in 2023, which translates into a reduction of 70.3 million euros. Both imports from Intra-EU countries and Third Countries contributed to this decline. In fact, acquisitions from Intra-EU countries were around 211.6 million euros in 2023, 21.4 million euros below the previous year's figure, while purchases from Extra-EU countries fell from 110.4 million euros in 2022 to 61.5 million euros in 2023. Despite the decrease in total imports, as with exports, the 2023 value was the second highest ever recorded.
As previously mentioned, the trade balance of goods transactions registered a surplus of approximately 77.4 million euros (+65.4 million euros compared to 2022), with only 2019 showing a more significant positive balance.
It is noteworthy that these results reflect an import coverage rate by exports of 128.3% (103.5% in 2022).
According to the analysis conducted by DREM, enterprises registered in the International Business Centre of Madeira (IBC) were responsible for exports amounting to 263.9 million euros in 2023, a figure lower than the 272.7 million euros observed in the previous year. The share of exports carried out by these enterprises in the total was 75.3% in the year under review (76.7% in 2022).
Regarding imports conducted by enterprises registered in the IBC, the value of goods acquired from foreign enterprises in 2023 was around 126.6 million euros, below the previous year, in which it reached 179.1 million euros. Consequently, the proportion of imports made by these enterprises in the total fell from 52.2% in 2022 to 46.4% in 2023.
DREM publishes an update of the time series of International Trade Statistics (1976-2023)
With the release of the 2023 International Trade Statistics – Final Results publication, DREM updated the time series of International Trade Statistics.
Although the series contains data from 1976 to 2023, the information is more detailed for the period after 1993. A summary table with key data from 1976 to 1992 is also available, including information on the Autonomous Region of Madeira trade with the rest of the country, namely the Mainland and the Autonomous Region of the Azores.
In addition to intra and extra-EU trade breakdowns, information is provided by:
- Economic areas and countries;
- Group of Products (GP);
- Section and chapter of the Combined Nomenclature (CN);
- Classification by Broad Economic Categories (CGCE);
- Classification of Products by Activity (CPA);
- Portuguese Classification of Economic Activities (CAE).
For more information, please access: