Guatemala: Raw Material Imports Up 23%
In the first 8 months of 2011 foreign purchase of raw materials amounted to $3,948 million.
Thursday, November 10, 2011
Imports of raw materials for industry and agriculture have reported growth for a second year, according to the Bank of Guatemala (Banguat).
During the first 10 months of 2010 foreign purchases of raw materials amounted to $ 4,037 million.
In the first three months of the year imports totaled $3.679 billion, 18% less than the same period in 2014, due to falling oil prices and lower demand for raw materials for industry.
As a result of the the contagious effect of the financial crisis in Europe, along with slow U.S. recovery, commodity prices have reversed their upward trend and started to decline.
Nicaragua will eliminate the 35% tax on Colombian imports, which created a a disadvantage to local businesses compared to the rest of the region.
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