Private and public sectors' imports over USD 40 billion
Oil revenues amounted to USD 69.7 billion
By the end of the third quarter, private and public sectors' imports totaled USD 40.7 billion, whereas last year they stood at USD 33.2 billion. Said increase "is associated with a higher dynamism in domestic aggregate demand," a BCV's statement read.
The numbers indicate that the slowdown in some key sectors of the economy was offset by an increase in imports. In fact, according to the BCV's statement, imports of goods totaled USD 32.9 billion.
The private sector's imports in the third quarter focused on food, agriculture, cattle, and common metals. This takes place amid a fall in food production and the collapse of Guayana's basic industries attributed to the lack of raw materials and investments.
Furthermore, although it did not break down the goods imported by government bodies, the BCV informed that such imports jumped 41.7%, amounting to USD 15.3 billion in the last nine months.
According to the central bank's data, similarly to the non-oil sector, imports by the oil sector climbed. They stood at USD 7.7 billion by the end of the third quarter.
Out of total imports, "59% was oriented to intermediate consumption, 23% to gross fixed capital formation, and 18% to final consumption.
Regarding income, the BCV outlined that by the end of the third quarter, oil revenues accounted for USD 69.7 billion, jumping 6% with respect to the same period in 2011 (USD 66.3 billion).
Translated by Jhean Cabrera
That political protest in Venezuela has lost momentum seems pretty obvious: people are no longer building barricades to block off streets near Plaza Francia in Altamira (eastern Caracas), an anti-government stronghold; no new images have been shown of brave and dashing protesters with bandanna-covered faces clashing with the National Guard in San Cristóbal, in the western state of Táchira; and those who dreamed of a horde of "Gochos" (Tachirans) descending in an avalanche to stir up revolt in Caracas have been left with no option but to wake up to reality.