In 2022

Turnover, Gross Value Added, and employees 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 website a set of tables related to financial and non-financial enterprises headquartered in the Autonomous Region of Madeira, with information for the period 2017-2022. It is noteworthy that the information for 2022 is already final, anticipating this release by about two months compared to recent years.

It is important to highlight that in May, DREM will provide the dataset related to establishments, at which point INE is expected to upload this information to its official statistics website.

In 2022, there were 32,222 enterprises headquartered in the ARM, 240 of which were financial and 31,982 non-financial. Of that total, about two out of every three were sole proprietorships, and one out of every three was a company. In the 32,222 enterprises in the ARM, 91,825 persons were employed, with 91,430 in non-financial enterprises and the remaining 395 in financial enterprises.

The year 2022 was characterised by an acceleration of economic activity in the business sector compared to the previous year. Indeed, in most sectors of activity, there were growth rates of over 25% in their respective turnovers compared to 2021.

As previously mentioned, in 2022, the number of non-financial enterprises in the Autonomous Region of Madeira reached 31,982, an increase of 2,268 (7.6%) compared to the previous year. In the country, there was an increase of 7.1% in the number of non-financial enterprises compared to 2021.

Regarding employees, there was a global increase of 7.5% compared to 2021, totalling 91,430 (a 5.9% increase nationwide). This growth is a result of an increase in employees in companies (+7.2%) and individual enterprises (+8.7%). It is noteworthy that 76.3% of the employees belong to companies.

As for the average size (employee per enterprise), in 2022, each company headquartered in the ARM employed an average of 6.26 persons. In the country, the average was higher (7.12 persons).

In terms of size, regional enterprises belong almost exclusively (99.90%) to the SME group. Within these, the majority are micro-enterprises (95.95% of SMEs). The number of medium-sized non-financial enterprises in 2022 was 180 (+9 than in 2021), while large enterprises did not exceed 31 (+7 than in 2021). In the country, the percentage of SMEs is also 99.90%.

The Turnover (TT) of regional non-financial enterprises increased by 38.3% between 2021 and 2022 to 9.0 billion euros. The Gross Value Added (GVA), which roughly corresponds to the difference between production and intermediate consumption, rose by 36.5% to 2.6 billion euros. The Net Result for the period also showed positive performance compared to 2021, growing by 25.7% to 1.3 billion euros.

93.6% of corporate GVA is generated by companies and 74.1% by SMEs. The 31 large enterprises headquartered in the Region concentrated 25.9% of the generated GVA.

The analysis by economic activity sector shows that the "Other services" sector, with 20.5% (540.3 million euros), stands out as the main generator of company GVA. It is followed by "Accommodation and food service activities" with 19.4% (509.4 million euros), "Trade" with 16.4% (432.2 million euros), and "Construction and real estate activities" with 16.3% (428.4 million euros).

Compared to 2021, regarding company GVA, all sectors showed growth, with highlights observed in "Accommodation and food service activities" (+97.7%), "Information and communication activities" (+67.1%), "Other services" (+36.7%), and "Transportation and storage" (+33.9%).

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