The sale of minor vehicles, such as motorcycles and ATVs, increased by 84.4% until September 2021 in relation to the same period last year, and 48.9% compared to 2019, reported Ana Cecilia del Castillo, manager of BanBif Business Division.
In the same way, the sale of heavy vehicles, until the ninth month of the year, experienced a year-on-year increase of 59.9% and 23% compared to 2019.
Along the same lines, retail sales in department stores increased by 98% and 17% in the January-August 2021 period compared to the same period in 2020 and 2019, respectively. Meanwhile, sales of appliances, furniture and home furnishing equipment also increased by 43% and 9% in the period January-August 2021 compared to the same period in 2020 and 2019, respectively.
Credit letters
On the other hand, Banbif reported that the volume of letters of credit in the banking sector will be higher than prepandemic levels by the end of 2021. In December 2019, the stock balance of import letters of credit was US $ 771 million; In December 2020 it reached 1,078 million dollars, and at the end of September 2021 it registered US $ 952 million.
The increase is related to the recovery of the economy and the higher demand for durable goods, such as vehicles, electrical appliances, and articles and ornaments for personal use.
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