Argentina’s book market down 40% in 2016
Argentina’s book market declined 40% in 2016, from US$905.5m (A$1,228m) in revenue in 2015 to US$540m (A$732m) last year, reports Publishers Weekly.
The figures were compiled by an Argentine consultancy and released at the Buenos Aires International Book Fair.
The decline has been attributed to changes in government policy, including the decision to float the Argentine peso, which led to a significant devaluing of the currency; and an end to government purchases of textbooks, which accounted for US$132m (A$179m) in sales in 2015.
Javier López Llovet, general director of Penguin Random House for Latin America and Argentina, described 2016 as ‘particularly difficult’. ‘People keep buying books, but they are buying less. If, in 2015, they went to the bookstores and bought two, three books, now they buy one. If the economy of Argentina were better, we would do better.’
Category: International news