Car imports decline as Thai currency rises

As the value of the Thai baht increases along with the US dollar, the cost of importing a car from Thailand has risen by up to Ks 1 million. Therefore, the number of legal car imports over the Thai border has become remarkably low, according to import-export businesspeople.

“When purchasing cars from Thailand, the price varies by model. We have to change Myanmar currency into Thai currency. In doing so, we have to add up to Ks 1 million. In terms of Myanmar currency, the price is higher. In reality, the car price hasn’t risen, but Myanmar currency has gone down in value. Therefore, there have been very few import of cars this month,” said an unidentified agent from the Myawady Friendship Bridge.

The cost if importing cars into Myanmar has also been affected by rise of the US dollar in the global currency market. Car showrooms in Yangon see very little demand, according to one car importer.

Among the most popular brands imported from Thailand are Toyota, Vigo, Hiace, Commuter and Nissan.


Source: Eleven Media

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