Imports of vehicles to Armenia in 2020 expected to slash by 92%

Tue 18 Feb 2020 16:11 GMT | 20:11 Local Time

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The imports of vehicles to Armenia in 2020 is expected to slash by 92% from 2019, Shushanik Nersisyan, the deputy head of the State Revenue Committee, told a news conference today, ARKA reports.

According to the official data of the State Revenue Committee, in 2019 some 189,000 vehicles were imported to Armenia, up from 64,000 vehicles imported a year earlier.

She said the customs clearance of vehicles imported by individuals has risen in price. 'I don’t think it would be profitable for anyone to import a car older than three years. The rise applies also to companies, although it is not as dramatic as for individuals," Nersisyan said.

She said that about 80 cars have gone through customs clearance in February 2020 according to the new rules and their number is supposed to reach 150 by the end of the month, as many as in 2015, which means that the imports of vehicles by the yearend will amount to 15 thousand.

Until December 31, 2019, Armenia enjoyed significantly lower customs rates on the import of vehicles than other member countries of the Eurasian Economic Union. Now, the customs rate depends on the year when the vehicle was manufactured, its cost and engine displacement.

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