Car imports decline on stronger Thai baht
As the value of the Thai baht increases along with the US dollar, the cost of importing a car from Thailand has risen, according to people in the auto import-export industry.
They have witnessed a significant drop in legal car imports from Thailand in June, when the kyat has hit a new low against US dollar. The dollar was at one point sold at 1,300 kyat during the first two weeks of the month. Currencies around the world weakened against US dollar, including the baht. However, the baht’s depreciation level was lower than the kyat’s.
“When purchasing cars from Thailand, the price varies by model but we pay in Thai baht,” said a sale agent. A model requires an increase in price by Ks1 million, he said.
Thai vehicles are imported to Myanmar mainly via the Myawady-Mae Sot Friendship Bridge.
Among the most popular brands imported from Thailand are Toyota and Nissan.
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