You are here

The Banco de Portugal and Statistics Portugal conduct a new edition of the Fast and Exceptional Enterprise Survey: the impact of the recent international conjuncture on the business turnover of Portuguese enterprises

Statistics Portugal and Banco de Portugal have decided to conduct a new edition of the Fast and Exceptional Enterprise Survey (IREE) in May 2022, taking into account that the pandemic has not yet been overcome and that the effects of the armed conflict in Ukraine have intensified the problems in global supply chains and the increase in prices of energy and other essential products.

The survey was launched for the first time in April 2020, with the aim of identifying some of the main COVID-19 pandemic effects, based on a quick response questionnaire. Throughout the peak periods of the pandemic and given the evolution of the constraints resulting from the COVID-19 pandemic, several editions of the survey were carried out to assess its impact on the economic activity of enterprises.

What is the impact of the recent international conjuncture on the business turnover of Portuguese enterprises? What is the effect of these developments on prices in 2022?

For 83% of enterprises, the current international environment – in particular the conflict in Ukraine, the increase in the cost of energy and other raw materials and intermediate goods, as well as the difficulty in accessing raw materials – has a negative or very negative impact on the evolution of business turnover in 2022. Nevertheless, 54% of enterprises foresee an increase in their turnover in 2022 compared to the previous year and only 14% expect a reduction.

Regarding the outlook for prices, 67% of enterprises expect to increase sales prices in 2022, with 48% anticipating increases of at least 5%. Of the companies that expect to raise prices in 2022, 60% point to increased costs with raw materials/intermediate goods (non-energy) as the main reason. 49% of enterprises also consider the increase in energy costs as very relevant for the price increase.