In 2021
Turnover, Gross Value Added and staff employed in non-financial enterprises in the Autonomous Region of Madeira grew above the national average
The Regional Directorate of Statistics of Madeira (DREM) releases today on its official statistics website, a set of tables on financial and non-financial enterprises headquartered in the Autonomous Region of Madeira, with data for the 2016-2021 period. The information for 2021 is final, thus updating, the provisional data released last October. This allows DREM to present a wider range of information for the year 2020. Data on establishments (local units) will only be available next May.
In 2021, there were 29,986 enterprises headquartered in the Autonomous Region of Madeira, 272 of which were in the financial sector and 29,714 in the non-financial sectors. Of that total, about two out of three were individual enterprises and one out of three were companies. The 29,986 enterprises in the Autonomous Region of Madeira employed 85,499 persons, 85,040 of them in the non-financial sector and the remaining 459 in the financial sector.
The year 2021 was notable for the recovery of economic activity compared to the decline observed in the previous year, as a result of the strong negative impact of the COVID-19 pandemic on the regional economy. In fact, in all sectors of activity, except for "Agriculture and fishing", there were, compared to 2020, increases in turnover (T/O), equal to or greater than 10%, and the majority also present, in 2021, T/O values above 2019, except for "Agriculture and fishing", "Industry" and "Accommodation and food service activities".
As previously mentioned, in 2021, the number of non-financial enterprises in the Autonomous Region of Madeira amounted to 29,714, up by 1,040 (+3.6%) enterprises over the previous year and up by 1,053 (+3.7%) compared to 2019. In the country, there was an increase of 3.2% in the number of non-financial enterprises compared to 2020 and of +1.8% compared to 2019.
Regarding staff employed, there was an overall increase of 7.5%, compared to 2020, to a total of 85,040 (+2.3% in the country). Compared to 2019, the increase was 7.1% (+0.3% in the country). That growth results essentially from the increase of staff employed in the companies (+9.8%) since in the individual enterprises there was only a slight increase (+0.6%). It should be noted that 76.5% of the staff employed belong to enterprises.
As regards the average size (staff employed per enterprise), in 2021, each enterprise headquartered in the Autonomous Region of Madeira employed, on average, 6.20 persons. In the country, the average was higher (7.06 persons).
By size, the regional enterprises belong almost exclusively (99.92%) to the SME group. Within SMEs, most of them are micro-enterprises (95.93% of SMEs). The number of medium-sized non-financial enterprises was 171, in 2021, (+12.5%) compared to 2020, while large enterprises did not exceed 24 (+14.3% than 2020). In the country, the share of SMEs is 99.72%.
The Turnover (T/O) of regional non-financial enterprises increased by 32.6% between 2020 and 2021 to 6.5 billion euros (+13.2% compared to 2019). Gross Value Added (GVA), which roughly corresponds to the difference between production and intermediate consumption, rose by 40.2% to 1.9 billion euros (+8.1% compared to 2019). The net profit for the period also presents a positive performance compared to 2020, growing 149.1% to 1.0 billion euros (+51.7% compared to 2019).
93.6% of corporate GVA is generated by companies and 76.2% by SMEs. The 24 large-sized enterprises headquartered in the Region concentrated 23.8% of the GVA.
By economic activity, the most important sector was "Other services" with 20.5% (395.4 million euros) which stands out as the main generator of corporate GVA. It is followed by "Trade" with 19.6% (377.8 million euros), "Construction " with 18.8% (362.4 million euros) and " Accommodation and food service activities " with 13.4% (257.7 million euros).
Regarding the Gross Operating Surplus (GOS), the growth in "Construction " (+108.5%), "Other Services" (+68.6%) and "Trade" (+54.4%) was noteworthy.
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