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Coronavirus Severely Impacts Rio de Janeiro’s Retail Economy

RIO DE JANEIRO, BRAZIL - In Rio de Janeiro, the State Treasury Department issued a report through the Coordination of Economic and Tax Studies (CEET) - which, in turn, falls under the Secretariat of Revenue - to illustrate the economic impacts caused by Covid-19 in the state.

The main losses caused by the social isolation period, so far, have been felt in the clothing and footwear retail sector, with a 75.9 percent decrease in revenue.

In addition, the food and beverage sector of bars, restaurants, snack bars, and bakeries has also suffered losses over 60 percent.

The study was based on . . .

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