80% of the transactions were made with a credit card, since bank promotions and financing through Ahora 12 were included.
From the Chamber they also criticized the economic policy since they consider that it affected the performance of the sector on this date in which toys have a special predominance: “Games and toys explain more than 50% of the gifts that are made for Kingsa higher percentage than for Christmas, so the arrival of the Three Kings was a very important event for the Argentine toy industry, which faces a very complicated 2023 due to the increase in the interest rate and the excess of imported productswhich adds to the problem of illegal commerce (contraband, apocryphal products and without security certification)”.
In addition, they point out that the only beneficiaries on this date were “the speculators, certain courts and legal studies that won with the precautionary measures to import toys at a cheap dollar.”
This Thursday, prior to Three Kings Day, the Customs kidnapping 7,155 toys worth $30 million who entered the country irregularly in procedures carried out in the City of Buenos Aires, Córdoba, Mendoza and Rosarioas reported by the agency.
“The negative balance of the year for the toy sector that is being destroyed by these maneuversindustry, in particular, which faces higher production costs due to interest rates, the lack of machinery and inputs from abroad, and an abundance of imported products of dubious origin,” they added and demanded that expedite the authorizations for the importation of machinery, raw materials and inputs that are not manufactured in the country.
They added that in the sector they stopped investment projects and that the use of installed capacity was reduced.
They also warned about the effect of the interest rate on the preparation of the sector for the Children’s Day, to be held next August: “With the increase in interest rates, the supply of raw materials purchased in the local market is becoming more expensive, which is hurting many small and medium-sized companies.”
“The objective of reaching a 51% share in the Argentine toy market that the industry was able to achieve in the year 2015, was far away to be reached because currently national manufacturing once again accounted for barely 30% of the market”, they added.
“The largest volumes of toy imports occur at two times of the year: between months of April and May and between September and October, by way of prior to Children’s Day and New Year’s Season. In the first 10 months of 2022, toy imports increased by 50% in FOB dollars compared to the same period in 2021, which significantly harmed not only the industry but also traditional importers, since these operations were carried out through precautionary measures that violated the trade administration of the then Ministry of Productive Development. This The intervention of certain sectors of justice was useful to speculators who sought to take advantage of a cheap dollar at the official exchange rate and sell the toys at the illegal exchange rate. causing a saturation of the local market with products offered by the industry, damaging it and accentuating the problem of external restrictions and foreign currency flight”, they pointed out against imports approved through precautionary measures.
This last point was strongly criticized by the Minister of Economy, Sergio Massa, who when he took office placed special emphasis on regulating imports and the use of reserves for the purchase of finished products or inputs produced in the country.
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