Sri Lanka ranked as the third most expensive country in the world to buy a vehicle in 2021, according to the World Bank’s Vehicle Price Level Index.
The index shows Sri Lanka’s score at 175, meaning vehicle prices are more than 1.75 times the global average benchmark of 100. Only Singapore and the Maldives ranked higher.
The Advocata Institute said high import duties and restrictive policies have turned vehicle ownership into a luxury for most Sri Lankans, affecting mobility, productivity, and economic opportunity. (Newswire)
The index shows Sri Lanka’s score at 175, meaning vehicle prices are more than 1.75 times the global average benchmark of 100. Only Singapore and the Maldives ranked higher.
The Advocata Institute said high import duties and restrictive policies have turned vehicle ownership into a luxury for most Sri Lankans, affecting mobility, productivity, and economic opportunity. (Newswire)
