Jul 01, 2018

More vehicles imports cause increase in import expenditure

An increase in the vehicle imports spending has contributed to a growth in import expenditure, says the Central Bank.

There has been a sizeable increase in the importation of cars with a low cylinder capacity as well as hybrid and electric cars.

Also, a rise in buses, tractors and other commercial vehicles has resulted in an increase in the importations in that segment.

As a result, import expenditure rose to 1,794 million US dollars in April 2018, the bank adds.

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