Belarus’ car import down 30% to 69,305 units in 2020
<p> MINSK, Feb 24 - PrimePress. Belarus’ imports of passenger cars decreased by 30% year on year in 2020 to 69.305 thousand units, in value terms - down 27% to $898.5 million, according to official statistics. </p> <p> </p> <p> Reportedly, the decline in imports was mainly due to a 44% drop in imports from the Russian Federation to 42,715 units from 2019, and in value terms, a 40% drop to $564.9m. Overall, Russia remained a leading exporter of cars to the Belarusian market, but reduced its share in total car imports to 62% at year-end 2020 compared to 70-80% in 2018-2019. </p> <p> </p> <p> In 2019 and early 2020, there was an increase in imports from the Russian Federation, but this was followed by a decline caused by the appreciation of the Russian ruble, market saturation, tightened lending and a preferential customs clearance mechanism for certain categories of the population. </p> <p> </p> <p> Imports of cars by individuals from countries outside the Customs Union increased markedly: at year-end 2020, they amounted to 23,200 units (+34% compared to 2019) worth $233 million (+54%). The factor behind the growth continues to be the preferential customs clearance for vehicles for the disabled and families with many children under Presidential Ordinance #140. According to this norm, representatives of the above categories of citizens can import one car to Belarus every year with subsequent customs clearance at half the rate of customs duty. This norm was introduced in mid-2019 and prolonged until 2020. </p> <p> </p> <p> The outpacing growth in the cost of imported cars over the rate of quantitative growth indicates that there is a shift in preferences of car owners: while previously the high cost of customs duties forced the purchase of inexpensive cars and cars with small engine capacity, the benefit in customs clearance made more affordable and more expensive used cars, as well as electric cars. </p> <p> </p> <p> As previously reported, imports of passenger cars in Belarus increased by 23% year on year in 2019 to 106.6 thousand units, in monetary terms - by 13% to $1.24 billion. End </p> <p> </p>
2021-02-25
Primepress
Belarus’ car import down 30% to 69,305 units in 2020
MINSK, Feb 24 - PrimePress. Belarus’ imports of passenger cars decreased by 30% year on year in 2020 to 69.305 thousand units, in value terms - down 27% to $898.5 million, according to official statistics.
Reportedly, the decline in imports was mainly due to a 44% drop in imports from the Russian Federation to 42,715 units from 2019, and in value terms, a 40% drop to $564.9m. Overall, Russia remained a leading exporter of cars to the Belarusian market, but reduced its share in total car imports to 62% at year-end 2020 compared to 70-80% in 2018-2019.
In 2019 and early 2020, there was an increase in imports from the Russian Federation, but this was followed by a decline caused by the appreciation of the Russian ruble, market saturation, tightened lending and a preferential customs clearance mechanism for certain categories of the population.
Imports of cars by individuals from countries outside the Customs Union increased markedly: at year-end 2020, they amounted to 23,200 units (+34% compared to 2019) worth $233 million (+54%). The factor behind the growth continues to be the preferential customs clearance for vehicles for the disabled and families with many children under Presidential Ordinance #140. According to this norm, representatives of the above categories of citizens can import one car to Belarus every year with subsequent customs clearance at half the rate of customs duty. This norm was introduced in mid-2019 and prolonged until 2020.
The outpacing growth in the cost of imported cars over the rate of quantitative growth indicates that there is a shift in preferences of car owners: while previously the high cost of customs duties forced the purchase of inexpensive cars and cars with small engine capacity, the benefit in customs clearance made more affordable and more expensive used cars, as well as electric cars.
As previously reported, imports of passenger cars in Belarus increased by 23% year on year in 2019 to 106.6 thousand units, in monetary terms - by 13% to $1.24 billion. End