Value of imported vehicles grows

The value of imported vehicles, parts and accessories totalled $699 million last month, which was an increase of $47m, or 7.1 per cent, when compared with February 2025.

The category helped boost the February total for all merchandise goods imports by $728m, or 12 per cent, from a year ago to $6.9 billion.

The biggest jump for vehicles, parts and accessories last month was those from China rising $61m. 

Such commodities from South Korea increased in value by $28m while those from the European Union fell by $26m.

The latest data also shows the automotive category recorded an increase in value for the three months ended February 2026, rising 13 per cent from the same period a year earlier to hit $2.21b.

The tally for the 12 months to the end of February was also up, climbing 6.6 per cent from $8.47b a year ago to $9.03b.

As for other categories, petroleum products in February were flat at $863m but rose 3.5 per cent for the quarter to $2.62b.

Overall exports last month edged up $27m, or 0.4 per cent, to reach $6.6b. This meant the monthly trade balance was a deficit of $257m.

The quarterly trade balance for the three months to the end of February 2026 was a deficit of $857m, while the annual figure was a deficit of $3b.