According to reports, the Venezuelan economy found the second quarter difficult to handle. Gross domestic product (GDP) fell 2.4% year-on-year having expanded for 22 consecutive quarters.

Many manufacturers experienced a significant decline in demand during the three-month period. The worst hit segments included metal goods, with production down 30.1% year-on-year, leather and plastic goods including footwear (-21.4%) and chemicals (-12.9%).

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