(MENAFN) Car production industry in Venezuela is collapsing due to the lack of imported parts, which decreased the producing amount five times compared to a year ago, as The Peninsula Qatar reported.
Auto production has declined by 82.6 percent compared to 2013 due to the low percentage of foreign exchanges.
Economists attributed this collapse to the problems in South American countries are facing, including rigid currency, controlling prices and rising debt.
In 2012, a total number of 104,000 units were produced, while 2013 witnessed a fall to 72,000 units. During the January-March period of 2014, only 3,990 were produced.
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