Analysis
Signs of revival in motorcar trend
Sep 19, 201410:10 AM
The import expenditure of the non-consumables sector has increased due to the rise in the import of vehicle into Sri Lanka, reveal latest statistics.
According to date released by the Central Bank of Sri Lanka, the number of vehicles imported by Sri Lanka in July 2014 has increased by 8.5 percent as compared to the same period last year.
Last July vehicles to the value of USD 71.4 million have been imported while in July 2013 it had been USD 65.8 million.
The increase in vehicle imports in July is notable since vehicle imports saw a drastic reduction following the heavy taxes imposed recently.
