Growing installed capacity
Data from the Industrial Situation Survey of the Venezuelan Confederation of Industrialists (CONINDUSTRIA) indicate that the manufacturing sector increased its installed capacity from 31% to 38.5%. The data correspond to the third quarter of 2022, and in relation to the previous period.
Among the industries that stood out for their performance, is textiles and footwear, which registered an increase of 9%, according to local media reports.
However, Luigi Pisella -president of the entity-, affirmed that the production is impacted by the competition of imported goods that do not have taxes; then, the excessive taxes; the lack of financing; the low demand in the country; and the scarcity of the most important public services.