The commercial sector indicated to the Central Bank of Ecuador that the value of its sales grew a slight 0.7% in May, while in April it would have fallen a 2.3%. In the printing industry demand fell by almost 40%, said Juan Carlos Abad, president of Offset Abad.
Abad states: “we are surviving (…). The anguish of the industry before the avalanche of taxes, safeguards, restrictions and tariffs create a business mood in which everything is paralyzed. From 24 hours (production day) we went down to 14, and we are willing to go down to 8. we have had a staff reduction and there are no vacancies.”
According to the manager of the Ecuadorian Automotive Association Manuel Mourtinho, the whole sector is going wrong by low sales because the government imposed new quotas, so the number of possible units to import and sell is restricted, in addition to the tariffs issue, that increases the costs of cars.
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