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Overseas bike purchases have grown 62% since 2015.

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Overseas bike purchases have grown 62% since 2015.

The demand for bicycles from the Portuguese is growing. Domestic production is not enough to provide an answer.

The Portuguese want to give more and more pedals. Even though the country has a yellow export T-shirt, demand far exceeds supply.

As a result, from 2015 to 2020, the volume of purchases of bicycles abroad increased by 62%. Devices with electrical equipment are becoming more and more popular.

Last year, 172,222 bicycles were imported, according to figures obtained by JN / DV from the National Institute of Statistics (INE). Even during the pandemic, the market grew by 5% in 2019, Portugal received 163,935 units.

In 2020, more than three-quarters of imports were conventional bicycles, meaning that value-added units already had 25% of the market.

“People are looking for a healthy, economical and at the same time environmentally friendly form of transport. Many European cities and countries have launched or accelerated bold investment programs to support and encourage active modes of transport and restrict car use, ”he justifies Rui Igreja, leader of the Association for Urban Mobility Cycling (MUBi).

The demand for this item was felt in the Sport Zone stores. “It started both with the first conclusion and after that, which demonstrates the growing trend of the Portuguese towards outdoor sports,” says the official source.

However, “a gap in inventory in some segments was inevitable in the past year, mainly due to the difficulties the factories faced in responding to all inquiries.”

However, INE data shows that imports of aid units dropped to 41,976 units last year, up from 43,922 units in 2019.

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In the Sport Zone, bike sales have “stabilized and are proceeding relatively well.”

But a new import record is expected in the first three months of this year.

Between January and March, Portugal acquired 37,974 bicycles internationally, up 30.5% from last year and 2019. Electric powered devices already account for more than a third of purchases.

More than 41 million

Bicycles brought to Portugal last year were worth 41.38 million euros, up from 25.5 million euros in 2015, up 62%.

more electricity there

The bicycle market share in Portugal is lower than abroad. “In some countries, electric bicycles already account for more than half of total bicycle sales,” says MUBi.

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Economy

Bitcoin Down 87% On Binance US Platform – Executive Digest

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Bitcoin Down 87% On Binance US Platform - Executive Digest

An algorithm flaw on the Binance platform caused users in the US to see a false 87% drop in Bitcoin this Thursday morning to $ 8,200.

The transaction volume for that minute was 592.8 bitcoins, which is only $ 40 million at current price.

The Exchange immediately fixed the bug.

“One of our institutional partners explained to us that there is a bug in the algorithm. We are investigating what happened. The situation has been resolved, “says an email sent by Binance USA.

This is not the first time a crypto-asset platform has encountered this kind of error.

Earlier this month, DeFi’s platform, Synthetify, was forced to shut down for a while shortly after its debut due to a “bug” in the Pyth Network, a pricing channel maintained by some of the world’s most famous trading companies.

Pyth already made the same mistake in September, showing a 90% drop in bitcoin share.

Also a month ago, decentralized financial platform DeversiFi saw $ 24 million “slipped out of his hands” after that amount was paid in the form of a $ 100,000 transaction fee in Ethereum.

Later, the exchange managed to recover 7,626 Ethereum units using a miner.

See also  OPEC lowers demand forecast for 2020 and lowers forecast for 2021
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Economy

Powell’s scandalous operation prompts Fed to ban high-level officials from buying and selling shares – markets

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Powell's scandalous operation prompts Fed to ban high-level officials from buying and selling shares - markets

“A robbed house, locks on the door.” THE The US Federal Reserve System (FRS) has decided to tighten rules for trading in capital markets by senior officials after it became known that the president of the institution, Jerome Powell reportedly sold the $ 5 million shares he held on a personal level last October, ahead of a Wall Street sell-off.

The new rules, announced this Thursday, will ban the purchase of certain securities, restrict active trading and require more frequent reporting and public disclosures, the Fed said.senior officials can only purchase diversified investment vehicles such as mutual funds, barring them from investing in stocks, individual and agency bonds, or derivatives.

“These tough new rules raise the bar to convince the public that our employees are focused only on the public mission of the Federal Reserve,” Jerome Powell said in a statement on the agency’s website.

Starting in the next few months, the Fed’s top management will have to give advance notice 45 days to buy and sell bonds, obtain prior approval and hold the investment for at least one year. In addition, movement during periods of heightened stress in the financial market is not permitted.

Jerome Powell reportedly sold between $ 1 million and $ 5 million in Vanguard Total Stock Market Index Fund on October 1, 2020. pandemic. In addition to this deal, there were other sales with no specific deadlines.

The Wall Street Journal reported that a Fed source indicated that the financial transaction was compliant with central bank regulations and was approved by the Office of Public Ethics.

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Economy

Diploma for limiting the fuel surcharge valid tomorrow

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Diploma for limiting the fuel surcharge valid tomorrow

NO documentstay decisive “The ability to set maximum marketing margins for simple fuels”, an initiative of the government, currently adopted by the Assembly of the Republic.

Thus, the diploma states: “regardless of the declaration of the energy crisis provided for in the previous numbers, for reasons of public interest and to ensure the normal functioning of the market and consumer protection, a margin may be established, in exceptional cases, in any commercial components that make up the retail the price of regular fuel or bottled LPG ”.

According to the law, which amends several decrees establishing general principles regarding the organization and operation of the National Petroleum System, the “maximum margin” can be “determined for any activity in the value chain of ordinary fuel or bottled LPG. set by the order of the members of the government responsible for the economy and energy, at the suggestion of the energy services regulator and after consultation with the anti-monopoly body. “

The diploma also specifies that “the maximum fields indicated in the previous numbers should be limited in time.”

In July, the government approved in the Council of Ministers (CM) a proposed law that would limit fuel sales margins by decree if it deems it too high “without justification,” according to the Minister of the Environment.

At a press conference, João Pedro Matos Fernández said that this diploma, which also applies to gas cylinders, will later be sent to the Assembly of the Republic, stressing that this measure will be “limited in time.”

The purpose of the law is to “give the government a tool to allow, when it is proven that the margin on the sale of fuel and gas cylinders is unusually high and unreasonable, this right, by decree, to limit the same margin,” the government official said. …

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“After approval [a proposta de lei]and the government, always listening to ERSE [Entidade Reguladora dos Serviços Energéticos] and the Competition Authority, by its decree, always for a limited period of time, which, I believe, is a month, two months, administratively sets the maximum margin for the sale of fuel, ”said João Matos Fernández.

The government official recalled that this markup “is also the sum of the markups associated with transportation, storage, wholesale and retail,” and these reference values ​​”continue to be calculated by ENSE on a daily basis.”

“As soon as this bill is approved, we will have this tool at our disposal,” he said, assuring that today “the state has no opportunity” to interfere in limiting prices for fuel and gas cylinders.

The initiative has been criticized by industry associations, which accuse the government of wanting to deflect attention from the weight of taxes on fuel prices.

Read also: Fuel and energy. Concerned parties are asking the government to take additional action.

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