CNI: smuggling generates more than $6.3 mn daily

According to the National Chamber of Industries (CNI) estimation, more than $6.3 million worth of goods are smuggled into the country every day. According to CNI president Ibo Blazicevic, smuggling has been on an upward trend in recent months, driven by currency devaluation in neighbouring countries.

Cochabamba International Fair expects to generate $60 mn in trade

The Cochabamba International Fair (FIC) will be held from 28 October to 7 November this year. The event will move at least 1% of the Gross Domestic Product (GDP) of the department, an equivalent of more than $60 million, and will therefore be important for reactivating the economy, according to the president of the Feicobol Foundation, Antonio Torrico.

Exports fell 10.3% and imports dropped 27.7% in January

Exports reached $692.6 million in January, 10.3% less than in the same month of 2020, when sales abroad reached $772.1 million. The fall is due to negative variations in economic activities such as hydrocarbon extraction (-37.3%), agriculture, livestock, hunting and fishing (-6.2%) and manufacturing industry (-1.2%). The National Institute of Statistics also reports that imports in January reached $565.4 million, 27.7% less than in January last year.

Tin prices jumped 16.8% after reports that China is stockpiling the metal

Tin prices at the London Metal Exchange jumped 16.8% at the end of the session on Monday. The cost of the metal reached $29,625/t, up to $4,280. The three-month price ended at $24,385/t, which was a gain of $375 or 3.1%. That is a sign that the supply-demand situation is under strain as buyers tie up physical metal for immediate delivery. This development comes against a background of reports that China is stockpiling tin as part of its plan to become self-sufficient in semiconductors.