Total merchandise imports contracted by 7.4 per cent
in the first quarter, mainly due to the decline in oil
imports, which more than offset the increase in nonoil
imports. Specifically, oil imports decreased by 38
per cent, as the weakness in oil prices depressed the
nominal value of oil imports. In volume terms, oil
imports fell marginally by 0.2 per cent. On the other
hand, non-oil imports expanded by 1.3 per cent in the
first quarter, driven by an increase in both electronic
and non-electronic imports.