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).

“Ramón Parellada, an analyst at the Center for Economic and Social Studies (CEES) believes that, at that time, the amount of imports was low because prices had fallen. 'Another reason is that they were using the products already in stock and buying less because of the economic crisis’” he said in an article in Siglo21.com.gt.

Despite the increase, the figures last seen in 2008 have still not been achieved, said Javier Zepeda, executive director of the Chamber of Industry.

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During the first 10 months of 2010 foreign purchases of raw materials amounted to $ 4,037 million.

According to information from Bank of Guatemala, this represents an increase of 24.4% over the same period of 2009, which reported $ 3,246 million.

"In the case of volume it also reported an increase of 24.3% to 3,480.2 million kilos.

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