2008, in the first seven months of that year imported goods were valued at $5.2 billion dollars, and this year they were estimated at $4.2 billion for the same time frame. The drop has come from several sectors such as imported materials and heavy machinery. Additionally dropping, semi durable goods and the demand for perishable foods.
The Chamber of Commerce economic adviser, Manuel Ferreira has said he believes there are a number of factors, one of which is that some supermarkets have expanded their sales of in house brands, that by in-large are produced locally, rather being in favor of imports, that are traditionally more expensive.
Mr. Ferreira further went on to say that by buying domestic rather than imports was not having a drastic impact for high prices to the local economy. Based on the consumption of more locally produced goods, business sales were actually up.
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