Uzbeks spent over $100 M on foreign cars for Q1 2019

Baku, Azerbaijan, Apr. 20

By Fakhri Vakilov – Trend:

In January-March 2019, Uzbekistan imported cars worth $106.4 million, which is almost 2.2 times more than in the same period last year, Trend reports with reference to Uzbek media.

In addition, the country spent $131.4 million on the purchase of trucks and $213.6 million on various components for cars.

Among the brands of the cars, 60 percent of all purchases fell on the share of Chevrolet; the second place (14 percent) was occupied by LADA cars (VAZ), and Daewoo with 10 percent share took the third place.

It is noteworthy that for the whole year of 2018, the value of imported cars amounted to $320 million.

The sharp increase in the number of imported cars is most likely related to a new procedure for customs clearance of premium cars introduced in the country from January 1, 2019. It covers new cars (no older than two years from the date of release) worth $40,000 and above, which are now subject to reduced rates of customs duties. As the import duty is not applied to these cars, the owner only needs to pay both excise tax and VAT in the amount of 20 percent.

Thus, the aggregate rate of customs payments will be 44 percent of the value of the imported car. For example, if the car costs $40,000, then according to the new rules, about $17,600 will have to be paid for its customs clearance.

In the first quarter of 2019, 59,500 cars, 990 buses and ISUZU trucks, 317 buses and MAN trucks and 414 KamAZ trucks were produced in the country. During the same period, the import of trucks increased by only 51.6 percent.

Follow author on Twitter:@vakilovfaxri

Azerbaijan's revenues from tea, coffee exports double in Jan.2021
Azerbaijan's revenues from tea, coffee exports double in Jan.2021
Kazakhstan reports value increase in all types of deposits
Kazakhstan reports value increase in all types of deposits
Foundation of several manufacturing enterprises laid in Iran's Qazvin Province
Foundation of several manufacturing enterprises laid in Iran's Qazvin Province
Loading Bars
Latest
Weekly review of highlights in Azerbaijani financial market
UK records another 7,434 coronavirus cases, 290 deaths
It is necessary to end deployment of Armenian armed forces on territory of Azerbaijan - Foreign Ministry
WHO reports over 420,000 new daily cases of COVID-19
Istanbul’s major Galataport project to go live in April
0.03% of pupils and 0.1% of school staff in Georgia confirmed with Covid-19 this week
Iran's Energy Exchange announces products to be on sale on February 28
Uzbekistan's largest share in formation of GDP falls on Tashkent
Azerbaijan's revenues from tea, coffee exports double in Jan.2021
Cargo movements in Iran's Khalij-e-Fars port increase
China conditionally approves one-shot recombinant COVID-19 vaccine
Stock gains power Buffett's Berkshire Hathaway to higher profit
More than 165,000 apply for Turkey’s most popular scholarship
Georgian Railway resumes passenger transfers
Kazakhstan reports value increase in all types of deposits
New road put into operation in Iran's Golestan Province
Azerbaijan sets up working subgroups to prepare 2021-2025 Development Strategy
Bahar Azadi gold coin price falling in Iran
Azerbaijan reports 172 more COVID-19 recoveries
Azerbaijan's Ministry of Finance to put up medium-term bonds for auction
Azerbaijan's banking sector ends January 2021 with profit
Foundation of several manufacturing enterprises laid in Iran's Qazvin Province
Uzbek-Korean JV to buy spare parts for metal detector via tender
USAID to promote start-up dev’t in Turkmenistan
President Aliyev: Any attempt to violate implementation of November 10th declaration will be very harmful for Armenia (VIDEO)
Iran reveals COVID-19 data for February 27
Bosnian TV channel visits liberated Azerbaijani Aghdam, reminds of Khojaly genocide
Azerbaijani police officers find ordnances left by Armenians in Khojavand (PHOTO)
Long-term energy demand impact of COVID-19 is modest
President Aliyev to Iranian reporter: Your question is a kind of an accusation (VIDEO)
New Zealand's largest city Auckland back to lockdown after COVID-19 case
Iran pins hopes on Swiss financial channel to purchase COVID-19 vaccines
Foreign journalists visit village where two-year-old Azerbaijani girl was killed by Armenians
Volume of cargo loaded, unloaded in Iran’s Chabahar port revealed
Weekly review of Azerbaijan's oil and gas sector
Eni Turkmenistan Ltd opens tender for catering, housekeeping services
Kazakhstan boosts imports of Switzerland-made products
Uzbek ministry, German Society for International Cooperation sign agreement
Uzbekistan, China expand mutual trade despite COVID-19
Georgia reports 373 new cases of coronavirus on Feb.27
Buy/sell operations at Iran Mercantile Exchange soar
Weekly review of Azerbaijani precious metals market
Baku Metro continues preparatory work for commissioning of new 'November' 8 station
Iran's exports to Russia increase
Uzbek-Korean JV to buy spare parts for pumps via tender
Kazakh airlines eye to launch several flights on Turkestan-Istanbul route
UNDP in Turkmenistan opens tender for services on seismic work
Volume of electricity generated by renewable energy power plants in Iran announced
Researcher talks monuments on ancient Azerbaijani lands vandalized by Armenians (PHOTO)
Uzbekistan reveals COVID-19 data for Feb. 27
Azerbaijan's MoD shares footage from Gubadly's Afandilar village (PHOTO/VIDEO)
Iranian currency rates for February 27
Remittances from Azerbaijan to Georgia show highest growth rate
Belarus considering possibility of supplying agricultural machinery to Turkmenistan
Turkmenistan’s Turkmenbashi Oil Refinery exceeds plan for kerosene production
Azerbaijani oil prices published
Kazakhstan's uranium mining company opens tender to acquire electro-technical materials
Issuance of construction permissions in Georgia down
Philippines extends partial coronavirus curbs in capital until end-March
Weekly review of Azerbaijani currency market
Kazakh gas supply company to attract equipment installation services via tender
Turkey's tourism industry puts hopes on safety measures for new season
Azerbaijani marketing platform plans to become regional player
Argentine health minister tests positive for COVID-19
Czech gov't declares new state of emergency over coronavirus
U.S. FDA advisors recommend approving Johnson & Johnson COVID-19 vaccine for emergency use
Increase in malware attacks makes cybersecurity more relevant than ever - Kaspersky Lab in Azerbaijan
South Korea vaccinates 18,000 to start ambitious COVID-19 campaign
US may announce new sanctions on Russia within weeks - White House press secretary
Founder of Indian Jet Airways eyes opening airline in Uzbekistan’s Namangan region
Saudi Arabia rejects U.S. intelligence report on Khashoggi's killing: statement
Israel registers 2,738 new COVID-19 cases, 769,971 in total
U.S. announces 'Khashoggi ban' for 76 Saudi individuals
Number of COVID-2019 cases across globe up by over 427,000 in past day
Slovenia confirms first case of coronavirus variant identified in S. Africa
UN Security Council adopts resolution on vaccination
UK records another 8,523 coronavirus cases, 345 deaths
Kazakhstan shows interest in supplies of Belarusian sugar, its manufacturing technology
Turkey reports 9,205 new COVID-19 cases, 2,683,971 in total
Iran, Russia emphasize need to coop. in agricultural sector
When will Georgia receive its first doses of the COVID-19 vaccine?
House poised to approve Biden's $1.9T coronavirus relief bill in Friday vote
Canada approves use of AstraZeneca COVID-19 vaccine
Azerbaijan discloses volume of liabilities of banks in Jan. 2021 accounting for deposits
Azerbaijan imposes restrictions on import of poultry meat from Estonian county
Amount of financial support of Kazakh manufacturing sector by Baiterek holding increases
Attracting FDI can help Georgia to boost exports of high-value food products - OECD
European Council extends mandate of special representative for South Caucasus
Kuwait reports 1,022 new COVID-19 cases, 189,046 in total
WHO says COVID-19 vaccine rollout in Africa has gathered steam
Armenia has always supported terrorism - MP
EU supports JCPOA commitments
Azerbaijan focused on rehabilitation, reconstruction of liberated lands - MP
Assistant to Azerbaijan's president talks country's success in int'l information field
Baku Stock Exchange to auction off Azerbaijani Central Bank's short-term notes
Azerbaijan records growth of GDP in non-oil sector over Jan. 2021
Azerbaijan discloses volume of fruits and vegetables exported since early 2021
Azerbaijan would like to bring new ideas, proposals to region with help of OSCE - MP
Uzbekistan, Tajikistan talk opening ground checkpoints
All Armenian prisoners of war have been returned to Armenia - Azerbaijani MP
All news