The CIF value of goods imported during May has risen by 14 per cent compared to the same period last year. Approximately MVR 2.8 billion worth goods were imported last month.
Machinery & Electronics largely accounts for 636 million of imports. As such, 24 per cent of the total imports for the month was imported for those items under this project. UAE, Singapore, India, Malaysia & China were the countries where most items were imported.
Similarly, the total revenue collected through customs duty and other fees and fines during May also increased by 11 per cent compared to the previous year. A total of MVR 183.8 million was collected through Customs duty last month.
The FOB value of goods exported during May has risen by 24 percent this May compared to the same period last year. As such a total of MVR 218.4 million worth of goods were exported during the said period. Majority of exports were to Ireland, France, Switzerland, Germany & Sri Lanka.
