Join the conversation:

Venezuelan imports fall 21.5% in first half year

Venezuelan imports fall 21.5% in first half year

Posted by Dubraswka Aguilar on September 30, 2014

Imports during the first half of this year show a 21.8% drop and placed in the lowest level for four years. It seems that 2014 will be the year that finally the boom in imports that the country had to break in prior periods.

Since 2013 foreign purchases of Venezuela began to decline in comparison to other years, especially in 2011 and 2012 when they reached $ 54,767,000.

The National Institute of Statistics (INE) reported that foreign purchases executed by Venezuela in June closed at $ 17.351 million, of which 58.8% were performed by the private sector and 41.2% by the public sector. While in the first half of 2010, the amount of imports was $ 15,014,000.

Official figures also show that in June 2014, the lowest amount recorded in purchases abroad not only the first six months of 2014, to settle at $ 2.323 million, but since February 2010 when they finished at $ 2,181 million.

On March imports reached the highest figure for the first half of $ 3,400 million. However, this was not enough to match the amounts from prior periods.

Analysts say the government faces strong restrictions to increase the supply of currency and there is a clear upward trend in public import. They emphasize that the priority in the allocation of resources in dollars is the import of essential goods and that current levels of scarcity of these priority areas are evidence that the allocation, although majority, has been inadequate.

Link To Full Article: 

Facebook comments



Monthly newsletter featuring articles hand picked by our country managers from the best content across PanamericanWorld.



Monthly newsletter featuring articles hand picked by our country managers from the best content across the Caribbean Region on PanamericanWorld.

PANAMERICANWORLD COUNTRIES