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DREM releases information about the Fast and Exceptional Enterprise Survey on COVID-19

Statistics Portugal and Bank of Portugal launched the Fast and Exceptional Enterprise Survey (COVID-IREE), on a weekly basis, with the aim of identifying the effects of the pandemic on business activity. This information is necessary in order to be able to recognise trends and to envisage lines to be followed to mitigate economic impacts, namely on enterprises themselves.

In the Autonomous Region of Madeira, it was the Regional Directorate of Statistics of Madeira (DREM) that oversaw data collection from the enterprises. The response rate was about 84%, much higher than in the country (54%).

The results of the 1st reporting week (week from 6 to 10 April 2020) indicate that 68% of companies were still in production or operation (82% in the country), even partially and 29% were temporarily closed (16% in the country). 55% of companies in operation or temporarily closed reported a reduction of more than 50% in turnover and 53% reported a reduction of more than 50% in the number of persons employed effectively working.

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