Posted On 03 Jul 2017
Pharmaceutical and toilet products, vehicles and food are the most imported consumer goods in the first four months of 2017. They totaled USD 725.18 million, which represented 62% of the total consumption category, according to the Central Bank of Ecuador.
These products came mainly from Colombia, Mexico, Panama, Chile, Peru, the United States, South Korea, China and other countries. For the president of the Federation of Chambers of Commerce Patricio Alarcón, these are aspirational products and people always try to improve their quality of life, even more so when safeguards were released, and prices fell.
A tax increase of these imported products concerns the Government. Foreign Trade Minister Pablo Campana announced on Thursday, June 29, the plans to raise the taxes of 400 imported consumer products by up to five percentage points. “If there is a product that today pays a 10% tax, it will surely tomorrow pay a 15% tax,” he said. (I)