Increased taxation and tight credit markets hurt vehicle imports last year, dealers say. The 2017 Economic Survey by the Kenya National Bureau of Statistics shows motor vehicle imports fell 22.52 per cent in 2016 to 85,063 from 109,781 units the year before. The drop in motor vehicle imports has been linked to taxation regime introduced by Treasury CS Henry Rotich in the financial year 2016-17 which ends on June 30. According to the Kenya Motor Industry Association, new motor vehicle sales also reduced last year, falling 30.67 per cent to 13,535 from 19,523 units in 2015. Rice imports, however, rose by 14.8 per cent to 505,999 tonnes up from 442,736 tonnes.

Source: The Star April 21, 2017 19:18 UTC