India dominates Lanka’s motor imports

Monday, 28 April 2014 00:00 - - {{hitsCtrl.values.hits}}

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, according to an analysis done by the Ceylon Chamber of Commerce. 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 as per the analysis done by the Chamber on vehicle imports into Sri Lanka, made during the period of 2005 to 2013. The expenditure on vehicles and parts imports recorded a decline of 17% in 2013 compared to 2012. The share of imports of vehicles and parts in total imports increased to 11% in 2013, a 50% increase as against its share in 2012, which stood at 7%. Although imports have declined in value terms the share has increased due to fall in other imports such as fuel. The declining trend of expenditure on imports of vehicles and parts started from year 2012 with the tax hike introduced in March 2012. Auto-trishaws (diesel), tractors, passenger vehicles, vehicles for transport of goods, motorcycles and concrete mixer lorries imports to the country had 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 1,000CC, passenger vehicles between 1,000CC and 3,000CC and passenger vehicles exceeding 3,000CC imports to the country had increased during 2013 compared to 2012. The analysis, conducted by the CCC’s Economic Intelligence Unit (EIU), provides detailed import statistics for the period of 2005-2013 by vehicle category and country of origin. The content of the analysis provides value and direction of vehicle imports covering, tractors, passenger vehicles, vehicles for transport of goods, motorcycles and bicycles, etc.

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