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. Last Updated: 07/27/2016

Car Imports Increased 17% Last Year

Car imports increased an annual 17 percent last year to 1.05 million, the Federal Customs Service said Thursday.

Car imports were worth $12 billion and rose from 898,700 in 2005, worth more than $9.3 billion, the customs office said in a statement posted on its web site.

Growth will probably slow to 6.2 percent this year from a revised 6.8 percent in 2006, as oil prices decline to $55 per barrel from $61 per barrel in 2006, according to the Economic Development and Trade Ministry.

Of all the cars brought into the country in 2006, 776,900 were new and 272,500 were previously owned, the customs office said. Russia imported 477,000 new cars and 421,700 used cars in 2005, according to the customs data.

The country's trade surplus narrowed to $9.1 billion in January, when exports declined to $21.1 billion from $30 billion in the previous month, according to the Central Bank. Imports fell to $11.4 billion in January from $19.4 billion in December, the Central Bank said.