Venezuela's car purchases from China at USD 52 million in 2012
Venezuela's National Statistics Institute said China is Venezuela's main automobile supplier
Consequently, national production has declined over the last four years and traditional brands have disappeared amid import restrictions while new actors are gaining ground.
Data from the National Statistics Institute (INE) reveals that China has become Venezuela's main automobile supplier.
Only during the first half, China sold Venezuela USD 52.7 million in transport vehicles, that is, 33.805% above the figure recorded during the same period in 2011. From January through June, 2011, China exported to Venezuela USD 155,621 in regular vehicles.
So far this year, China's car exports to Venezuela have grown 53% as USD 34 million in sales was recorded in 2011.
Translated by Jhean Cabrera
President Nicolás Maduro is not only the heir to the throne, but also to an economic crisis which demanded urgent measures to rectify the course. The crisis showed up in two aspects: a 50% inflation estimate, and shortage of staples ranging between 70% and 98%. These issues might hit the President's poor popularity; considering his feeble electoral victory of 1% over his challenger.