Asdrúbal Oliveros, managing partner of Ecoanalítica, indicated that Venezuela’s trade sector experienced 1.1 % growth during the first six months of the year.

According to the economist, “the oil sector, the traditional engine of the economy, led the expansion with an increase of 14.8 %. Meanwhile, telecommunications grew 11 %, food 7 %, and health, which includes the production of medicines, 6 %.”

According to the director of Ecoanalítica, this is a notable performance in the trade sector thanks to the fact that “it was one of the beneficiaries of the economic reconfiguration following the 2016-2021 crisis,” when the country lost two-thirds of its economy.

Currently, according to Oliveros, there is a marked disparity in the trade landscape, as on the one hand, areas such as food, medicine, and automotive parts are performing well, while in items such as household appliances, clothing, and footwear, growth is weak as a result of the population’s low purchasing power and macroeconomic instability.

Regarding inflation, the specialist indicated that “the modest growth in trade is due in part to accelerated inflation in the first half of the year and a significant depreciation of the official exchange rate, which limits household consumption, especially for non-essential goods.”

M.Pino

Source: diariocontraste                    

(Reference image source: Hamed Taha on Unsplash)

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The businessman Horacio Velutini recently reported that the real estate market had a rebound of 1,400 % thanks to rentals, being a great contrast between the figures presented in 2018. Although, he warns that the reactivation process is not enough.

«Rents in the commerce sector went, in the «high end» segment, to give an example, from an average of 1 dollar per square meter to 15 dollars per square meter at the end of 2022. That is, a growth of 1,400 %. To reach that average, contracts were signed at 20 and 25 dollars per square meter,” the businessman clarified.

According to Velutini, there is an interesting issue with the real estate market, which has shown signs of recovery in line with the weak economic recovery.

«For me, that market hit a floor in 2019, when it reached its lowest historical point, when it fell to amounts only comparable to 1994, when the banking crisis occurred and 1983 with the ‘Black Friday’ crisis and the end of the first boom. Venezuelan oil tanker,” he said.

In Velutini’s opinion, it will be the retail and housing segments that will lead a possibly more sustained recovery of the real estate business in 2023 and subsequent years.

#21DIC El mercado inmobiliario ha crecido 1.400 % desde 2018 y es un negocio en alza, dijo el empresario Horacio Velutini, quien insistió que ha sido contundente. #ElInformadorVenezuela

Más detalles AQUÍ👇https://t.co/RakhLxuc7S

— El Informador Venezuela 🌎 (@ElInformadorVE) December 21, 2022

Source: doblellave

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La entrada Real estate market presented a rebound thanks to rentals apareció primero en Bitfinance.