Expenditure on merchandise imports increased to US $ 1,857 million in May 2018 mainly due to high expenditure incurred on fuel and vehicle imports. Meanwhile, expenditure on non-fuel imports declined marginally in comparison to the previous year indicating the higher contribution of fuel expenses to import growth. Expenditure on fuel imports, categorized under intermediate goods, increased considerably during the month owing to higher import prices and volumes of crude oil and refined petroleum products. In addition, expenditure on textiles and textile articles imports increased in May 2018 reflecting higher expenses on all sub categories particularly fabric imports.

Also, import expenditure on chemical products, base metals and plastics and articles thereof contributed towards the increase in intermediate goods imports during the month. Meanwhile, import expenditure on personal vehicles, categorized under consumer goods, increased significantly in May 2018 owing to substantial increase in imports of small engine capacity vehicles, hybrid and electric vehicles. In the context of investment goods, building materials imports increased in May 2018 led by higher imports of cement and aluminium articles. However, expenditure on gold imports which increased considerably since early 2016, declined notably to US $ 0.1 million. Further, import expenditure on machinery and equipment and transport equipment also declined. Under consumer goods, rice, sugar, dairy products, seafood, clothing and accessories and telecommunication devices contributed largely towards mitigating the pressure on overall import expenditure during the month. China, India, UAE, Japan and Singapore were the main import origins in May 2018, accounting for about 60 % of total imports.