DREM releases final data on foreign affiliates in the Autonomous Region of Madeira

The Regional Directorate of Statistics of Madeira (DREM) updates today, the final results of the Statistics on foreign affiliates in the Autonomous Region of Madeira, for the year 2020, replacing the provisional data released last December.

The information comes from the Integrated Business Accounts System, which results from a process of integration of statistical information on enterprises, based on administrative data, mainly on the Simplified Business Information (IES), providing the main economic indicators characterising the structure and origin of capital control of affiliates of foreign enterprises in the Autonomous Region of Madeira.

A foreign affiliate in Madeira is an enterprise resident in Madeira, controlled by an institutional unit not resident in Portugal. This control is understood as the power to determine the general policy of the enterprise, choosing, if necessary, its directors.

Within the scope of this study, only enterprises incorporated as companies were considered, since all foreign affiliates in Madeira and in Portugal take this legal form.

In 2020

Gross Value Added of the foreign affiliates decreased more (-41.6%)  than the companies with head office in the Autonomous Region of Madeira (-22.8%)

In 2020, there were 204 affiliates of foreign companies in the Autonomous Region of Madeira (ARM), up by 7.4% compared to 2019, corresponding to 2.1% of total non-financial companies, the same percentage as in Portugal.

Foreign affiliates employed 2,993 persons(-6.2% than in the previous year), representing 3.8% of total employment of non-financial companies (17.7% in the country). On average, each affiliate employed 15 people in 2020, a figure higher than that of companies headquartered in the ARM (6 people).

The Turnover (VVN) of foreign affiliates in the ARM decreased by 36.8% (5.8% of the share of the total VVN of regional non-financial companies), between 2019 and 2020, to 275.0 million euros.

The Gross Value Added (GVA) of foreign affiliates in the ARM was 89.9 million euros, concentrating 7.1% in the total GVA of regional companies. Compared to the previous year, there was a drop of 41.6%, substantially higher than the reduction in GVA of all companies with head offices in the Autonomous Region of Madeira, which was 22.8%.

At a national level, the GVA of foreign affiliates declined only by 7.1%, below the average of all companies in Portugal (-9.8%) and represented 27.8% of the total GVA of the companies.

The country of origin of the capital control with the greatest share regarding the number of affiliates was Brazil, with 27.5%.

In 2020 in the Autonomous Region of Madeira, by economic activity, "Trade", "Other Services" and "Construction and Real Estate Activities" stand out, with 71, 55 and 35 foreign affiliates, respectively.

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