{"id":46046,"date":"2021-09-02T19:36:36","date_gmt":"2021-09-02T17:36:36","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/?p=46046"},"modified":"2021-09-02T19:18:54","modified_gmt":"2021-09-02T17:18:54","slug":"vehicle-import-bill-falls-by-73-in-first-%c2%bd-of-2021","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/vehicle-import-bill-falls-by-73-in-first-%c2%bd-of-2021","title":{"rendered":"Vehicle Import Bill Falls By 73% In First \u00bd Of 2021"},"content":{"rendered":"

Africa-Press<\/a> – Zimbabwe<\/a>. <\/strong><\/span>By Kenneth Matimaire<\/b> – ZIMBABWE\u2019S vehicle import bill took a major knock as it tumbled down by 73% to $3,99 billion (US$47,5million) generated during the first-half of the year from $15,2b (US$181,3m) recorded during the same period last year.<\/p>\n

The massive slump was highlighted in statistics availed by the Zimbabwe Revenue Authority (ZIMRA) for the first six months of 2021.<\/p>\n

Analysis of the statistics indicate that the vehicle import bill continued to fall at a massive rate between January and June this year as compared to the same period last year.<\/p>\n

In January, the bill fell by 53,3% to $945,8m (US$11,2m) from $2bln (US$24,1m) followed by a 57% drop the following month to $969,6m (US$11,5m) from $2,2bln (US$26,8m) during the comparative period.<\/p>\n

The cost of vehicle imports further decreased by 57,1% in March to $1,2bln (US$14,7m) from $2,9bln (US$34,5m).<\/p>\n

By April, the bill depreciated by 71,9% as $733,5m (US$8,7m) was recorded against $2,6bln (US$31,1m) during the comparative first half of 2021 and 2020.<\/p>\n

The vehicle import bill further took a 98,1% and 98% nosedive in May and June during the comparative period.<\/p>\n

Only $48,5m (US$577,391) was recorded in May down from $2,6bln (US$31m) and $55,9m (US$665,541) from $2,8bln (US$33,5m) recorded in June.<\/p>\n

The country\u2019s tax collector attributed the decrease to the Covid-19 pandemic as only 10 865 vehicles were imported in the first six months of the year against 19 841 units imported during the same period last year.<\/p>\n

\u201cThere is a decrease in imports across the categories which may be attributed to the global depression in trade caused by the current Covid-19 pandemic,\u201d said ZIMRA head corporate communications Francis Chimanda.<\/p>\n

However, more vehicles imports were recorded in 2020 as compared to the previous year despite the advent of the pandemic last year.<\/p>\n

Apart from the pandemic cited by ZIMRA, the huge decline in the import bill was largely due to Statutory Instrument (SI) 89\/2021.<\/p>\n

The SI banned the importation of second-hand vehicles that were 10 years and older.<\/p>\n

Central bank governor John Mangudya recently indicated the country had saved US$38,1 million from its huge import bill. The savings were recorded during the first four months of this year against the same period in 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. By Kenneth Matimaire – ZIMBABWE\u2019S vehicle import bill took a major knock as it tumbled down by 73% to $3,99 billion (US$47,5million) generated during the first-half of the year from $15,2b (US$181,3m) recorded during the same period last year. The massive slump was highlighted in statistics availed by the Zimbabwe Revenue Authority […]<\/p>\n","protected":false},"author":84,"featured_media":46045,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6,8,35,15],"tags":[1493,2189,19],"class_list":{"0":"post-46046","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"category-head-lines","10":"category-homepage-english","11":"category-twitter","12":"tag-africa-press","13":"tag-africa-press-zimbabwe-2","14":"tag-zimbabwe"},"yoast_head":"\nVehicle Import Bill Falls By 73% In First \u00bd Of 2021 - zimbabwe<\/title>\n<meta name=\"description\" content=\"By Kenneth Matimaire - ZIMBABWE\u2019S vehicle import bill took a major knock as it tumbled down by 73% to $3,99 billi ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/vehicle-import-bill-falls-by-73-in-first-\u00bd-of-2021\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vehicle Import Bill Falls By 73% In First \u00bd Of 2021\" \/>\n<meta property=\"og:description\" content=\"By Kenneth Matimaire - 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