31% Rise in Imports for Jan 2024, Says Maldives Customs

In a recent announcement by the Maldives Customs Service, January 2024 witnessed a notable surge in total imports, marking a substantial 31% increase and registering a staggering MVR 5.1 billion worth of imported goods. Conversely, exports experienced a corresponding decline, also at 31%, with MVR 173 million worth of goods exported during the same period.

Breaking down the import figures further, Customs revealed that imported goods excluding fuel exhibited a significant 29% rise, reaching MVR 4 billion in value. Moreover, revenue for the review month reached MVR 5.1 billion, reflecting a commendable 7% increase. Additionally, the agency collected MVR 3 million in royalties.

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Among the major imported categories, fuel emerged at the forefront with imports worth MVR 1.1 billion, followed closely by machinery and mechanical appliances at MVR 935 million. Furthermore, food items, excluding pork, alcohol, and tobacco, accounted for substantial imports amounting to MVR 926 million.

In terms of exports, skipjack tuna dominated as the most exported commodity in January, with exports valued at MVR 58 million. Frozen skipjack tuna followed suit with MVR 43 million worth in exports, while yellowfin tuna exports amounted to MVR 26 million, securing the third position.

Delving into the origins of imports, the report highlighted that 18% of imported commodities originated from the United Arab Emirates, amounting to MVR 938 million, making it the largest importer to the Maldives. Following closely, Oman emerged as the second-largest importer, with 15% of total imports originating from the country.

In terms of export destinations, Thailand retained its status as the primary recipient of Maldivian exports, accounting for 38% of the total exported goods shipped to the Southeast Asian nation.

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