Thursday, July 16, 2015

Ten percent price drop for products from Europe. Euro depreciation will increase imports


Local traders are benefiting from the decrease in the value of the euro against the US dollar (1.09), which declined by an average of 18 percent in the first six months of the year compared to the same period in 2014.

Traders import around 21 percent of their products from the Eurozone. Imports were $4.4 billion last year, from a total of $20.5 imports.

Michel Abchee, Chairman of Admic, said: "The market will be witnessing a decrease in the prices of Eurozone products by a margin...

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