Vehicle imports gain $240m in value

The value of imported vehicles, parts and accessories totalled $894 million last month, an increase of $240m, or 36.6 per cent, when compared with May 2025.

The category helped boost the May total for all merchandise goods imports by $1.7 billion, or 25.9 per cent, from a year ago to $8.1b.

The biggest jump for vehicles, parts and accessories last month was those from China rising by $77m. 

Such commodities from the European Union also increased in value by $73m while those from Australia went up by $16m.

In contrast, the value of imports for the same category from the US tumbled by $26m month-on-month.

The latest data also shows the automotive category recorded an increase in value for the three months ended May 2026, rising 26.4 per cent from the same period a year earlier to hit $2.53b.

The tally for the 12 months to the end of May was also up, climbing 16.1 per cent from $8.23b a year ago to $9.55b.

As for other categories, petroleum products soared from $801m in May last year to $1.64b last month, a rise of 104.1 per cent. It also went up by 19.6 per cent for the quarter to $3.22b.

Overall exports last month grew by $1.4b, or 18 per cent, to reach $8.8b. This meant the monthly trade balance was a surplus of $800m.

The trade balance for the year to the end of May 2026 was a deficit of $3.4b.