Retail Sales in Venezuela
Venezuela - Retail Sales
Car sales remain minimal in May despite increase
Car sales rose 10.3% year-on-year in May but sales remain minimal, with only 279 units shifted in that month, according to figures from the Venezuelan Automotive Chamber (CAVENEZ, Cámara Automotriz de Venezuela). With the government limiting imports and consumer purchasing power having fallen off a cliff, car sales have rapidly declined in recent years, meaning small variations in absolute numbers lead to large percentage changes. May’s reading was in contrast to the 19.7% decline recorded in April.
In the 12 months to May, car sales reached just 4,701 units, down 57.2% year-on-year.
Given the limited availability of timely data for the real sector, analysts often use car sales as a proxy for private consumption. Panelists participating in the LatinFocus Consensus Forecast expect private consumption to decline 5.8% in 2017, which is up 0.1 percentage points from the previous month’s estimate. In 2018, the panel sees private consumption contracting 1.0%.
Venezuela - Retail Sales Data
|Retail Sales (annual variation in %)||-||-||-||-||-|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||5.50||0.0 %||Aug 19|
|Exchange Rate||248,832||0.0 %||Aug 17|
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June 16, 2021
National consumer prices rose 28.5% from the previous month in May, up from April’s 24.6% month-on-month increase, according to data released by the Central Bank of Venezuela (BCV).
May 18, 2021
National consumer prices rose 24.6% from the previous month in April, up from March’s 16.1% month-on-month increase, according to data released by the Central Bank of Venezuela (BCV).
April 19, 2021
National consumer prices rose 16.1% from the previous month in March, down markedly from February’s 33.8% month-on-month increase and marking the lowest print in 12 months, according to data released by the Central Bank of Venezuela (BCV).
February 12, 2021
National consumer prices rose 46.6% from the previous month in January, down markedly from December’s 77.5% month-on-month increase which had marked the highest print in 22 months, according to data released by the Central Bank of Venezuela (BCV).
Venezuela: Depreciation of bolívar remains rampant in 2020; softens from levels seen in 2018 and 2019
January 1, 2021
The Venezuelan bolívar soberano fell sharply against the U.S. dollar in 2020 amid rampant inflationary pressures and tumbling oil production.