The expenditure on vehicles and parts imports by Sri Lanka recorded a decline of 17 percent in 2013 compared to 2012. However, ‘the share of imports of vehicles and parts in total imports increased to 11 percent in 2013, a 50 percent increase as against its share in 2012, which stood at 7 percent. Although imports have declined in value terms, the share has increased due to a fall in other imports, such as fuel, a Ceylon Chamber of Commerce (CCC) statistical analysis on local vehicle imports reveals.
The analysis was conducted by the CCC’s Economic Intelligence Unit and provides detaliled import statistics for the period 2005-2013 by vehicle category and country of origin, a CCC press release says. The content of the analysis provides value & direction of vehicle imports covering, tractors, passenger vehicles, vehicles for transport of goods, motorcycles, bicycles etc, the release adds.
* The declining trend of expenditure on imports of vehicles and parts started from year 2012 with the tax hike introduced in March 2012.
* Vehicle imports to Sri Lanka continued to be dominated by India accounting 43% of total imported value and 72% of total imported quantity of vehicles and parts.
* Auto Trishaws (Diesel), Tractors, Passenger Vehicles, Vehicles for transport of goods, Motor Cycles and Concrete Mixers Lorries imports to the country has declined during 2013 compared to 2012 both in quantity and value terms while Crane Lorries and Bicycle imports increased in 2013 against 2012.
* Although the total number of passenger vehicles imports declined during 2013, Motor cars other than Auto- trishaws below 1000CC, Passenger vehicles between 1000CC and 3000CC and Passenger vehicles exceeding 3000CC imports to the country has increased during 2013 compared to 2012.
www.island.lk
The analysis was conducted by the CCC’s Economic Intelligence Unit and provides detaliled import statistics for the period 2005-2013 by vehicle category and country of origin, a CCC press release says. The content of the analysis provides value & direction of vehicle imports covering, tractors, passenger vehicles, vehicles for transport of goods, motorcycles, bicycles etc, the release adds.
Some other principal findings contained in the anaysis are:
* The declining trend of expenditure on imports of vehicles and parts started from year 2012 with the tax hike introduced in March 2012.
* Vehicle imports to Sri Lanka continued to be dominated by India accounting 43% of total imported value and 72% of total imported quantity of vehicles and parts.
* Japan is the second largest supplier of vehicles and parts to Sri Lanka accounting 38% in terms of value and 20% in terms of quantity.
* Auto Trishaws (Diesel), Tractors, Passenger Vehicles, Vehicles for transport of goods, Motor Cycles and Concrete Mixers Lorries imports to the country has declined during 2013 compared to 2012 both in quantity and value terms while Crane Lorries and Bicycle imports increased in 2013 against 2012.
* Although the total number of passenger vehicles imports declined during 2013, Motor cars other than Auto- trishaws below 1000CC, Passenger vehicles between 1000CC and 3000CC and Passenger vehicles exceeding 3000CC imports to the country has increased during 2013 compared to 2012.
www.island.lk
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