DREM releases final data for 2021 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 (ARM), for the year 2021, replacing the provisional data released last December.

The information is derived 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 ARM.

A foreign affiliate in the ARM is an enterprise resident in the Region, but controlled by an institutional unit not resident in Portugal. Control in this context refers to the power to determine the general policy of the enterprise, including the selection of its directors, if necessary.

For the purpose of this study, only enterprises incorporated as companies were considered, as all foreign affiliates in the ARM and in Portugal adopt this legal form.

In 2021

Foreign Affiliates' Gross Value Added surges by 87.0%, outpacing Local Companies in Madeira (+41.9%)

In 2021, there were 223 affiliates of foreign companies in the Autonomous Region of Madeira (ARM), up by 9.3% compared to 2020, corresponding to 2.1% of total non-financial companies (2.3% in Portugal).

Foreign affiliates employed 4,133 persons (+38.1% than in the previous year), representing 6.4% of total employment of non-financial companies (18.7% in the country). On average, each affiliate employed 18.5 persons in 2021, a figure higher than that of companies headquartered in the ARM (6.2 persons).

The turnover of foreign affiliates in the ARM increased by 77.2% (7.7% of the share of the total turnover of regional non-financial companies), between 2020 and 2021, to 487.2 million euros. That growth was higher than the average growth of companies headquartered in the ARM (+33.3%).

The Gross Value Added (GVA) of foreign affiliates in the ARM was 168.1 million euros, concentrating 9.3% of the total GVA of regional companies. Compared to the previous year, there was a rise of 87.0%, substantially higher than the growth in GVA of all companies with head offices in the Autonomous Region of Madeira, which was 41.9%.

At a national level, the GVA of foreign affiliates went up by 17.4%, above the average of all companies in Portugal (+16.3%) and represented 32.7% of the total GVA of the companies.

The country of origin of the capital control with the greatest share regarding the number of affiliates in the Autonomous Region of Madeira was Malta, with 18.4%.

In 2021 in the Autonomous Region of Madeira, by economic activity, "Other Services", "Construction and Real Estate Activities", “Accommodation and food service activities” and "Trade" stand out, with 89, 51, 26 and 24 foreign affiliates, respectively.

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