news-details

Vehicle import crashes by 61%, operators blame forex crisis

According to the document, the figure represented a 4.3 per cent decrease from the 275 ships that visited the nation’s seaports within the same period in 2023.

“Vehicles importation dropped by 60.8 per cent from 28,024 units in the first quarter of 2023 to just 10,991 units in 2024,” the document stated.

It also showed that the total cargo volumes declined within the period under review, reflecting a contraction in trade activities and potentially signaling underlying economic challenges or shifts in the import-export balance.

It stated that the 4.3 per cent reduction in ship visits could be attributed to a variety of factors including, “changes in global shipping routes, adjustments in shipping line strategies, or the impact of economic policies affecting maritime trade.”

In terms of cargo traffic, the total cargo throughput, excluding crude oil, reached 21,186,348 metric tonnes within the period under review in 2024 as against 18,243,644 metric tonnes handled in the first quarter of 2023, showing an increase an increase of 16.1 per cent.

Related Posts
Advertisements
Market Overview
Top US Stocks
Cryptocurrency Market