Argentina: The post office sector is affected by recession
CNC (Comision Nacional de Comunicaciones) is working on the changes of the regulation for the postal sector after consultation with the Government and private companies about the original text. Some aspects of the original text have been modified. The recession in Argentina has affected the post offices activities, which includes 80% of corporate postage and 20% of ‘occasional postage’. Last year this sector turned over Pesos $886mil through Correo Argentino and private post offices according to CNC. In relation to 1999, income dropped by 9.4%. As a consequence of increasing competition (there are a total of 248 companies registered as postal operators), Correo Argentino’s sales decreased by 10.58%. Private operators also registered a drop of 8.54% in their sales, but postage increased by 7.95% (against a 3.96% decrease in the letters sent by Correo Argentino). During 1999, the sector registered a growth: Correo Argentino’s postage increased by 11.07%, while private companies doubled this figure, reaching 22.56%.
Copyright 2001 South American Business Information.
Source: World Reporter (Trade Mark).
LA NACION (ARGENTINA), 08th August 2001
