Official Portal - Statistics Portugal

How does the recent international conjuncture reflect on the enterprises' activity?
Fast and Exceptional Enterprise Survey - COVID-19
May 2022 edition
How does the recent international conjuncture reflect on the enterprises' activity? May 2022 edition
08 June 2022


In May 2022, 56% of enterprises  report that they had already reached or exceeded their pre-pandemic activity level. In Accommodation and food services this proportion is lower (37%).

54% of enterprises foresee an increase in turnover in 2022 compared to the previous year and only 14% expect a reduction. In Accommodation and food services the percentage of enterprises expecting an increase in turnover is more significant (75%).

For 83% of enterprises, the current international environment  has a negative or very negative impact on the evolution of turnover in 2022, with Manufacturing and energy standing out, with a proportion of 90%. Almost 60% of enterprises consider that the rising in energy costs and other raw materials/intermediate goods are very relevant factors with a potential negative impact on their activity.

67% of enterprises expect to increase sales prices in 2022, with 48% anticipating increases of at least 5%. Of enterprises that expect to raise prices in 2022, 60% point to the increase in costs with raw materials/intermediate goods (non-energy) as the main reason.

Enterprises point to an annual growth in average wages of 4.2% in 2021 and expect a 5.2% increase in 2022. Among the reasons pointed out as very relevant for wage increases in 2022 are the increase in the minimum wage and the need to retain workers (28% and 27%, respectively).

27% of enterprises (corresponding to 47% of total employment) estimate an increase in the number of persons employed in 2022 compared to 2021. As for the use of remote working, 24% of enterprises report having, in May 2022, a higher proportion of persons employed in this situation compared to the pre-pandemic period.

The flexibilization of tax payments and deferral of social security contributions is the public support measure mentioned by a higher proportion of enterprises as relevant or very relevant (37%). In the absence of additional policy measures, 82% of enterprises say they will be able to remain in operation without restrictions in 2022.

The evolution of the inflation and the war in Ukraine are the factors most often mentioned by enterprises as having a negative or very negative impact on their activity in 2022 (82% and 75% of enterprises). In contrast, 52% of enterprises expect a positive or very positive impact from the evolution of demand directed towards the enterprise.

See the infographic (PT version only)

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