In August of this year, the Maldives Customs Service imported goods worth a substantial MVR 5 billion, marking a 7% increase compared to the same month last year, as reported by the Maldives Customs Service. Last August, the nation recorded imports valued at MVR 4.8 billion.
Contrastingly, despite the surge in imports, the value of exported goods in August witnessed a significant decline of 26% compared to the corresponding month in the prior year. In August of this year, the total value of exported goods amounted to MVR 93 million, in stark contrast to the MVR 125 million recorded during the same month the previous year.
2023ވަނަ އަހަރުގެ އޮގަސްޓްމަހުގެ ތަފާސް ހިސާބު— Maldives Customs Service (@CustomsMv) September 21, 2023
📌ފާއިތުވި އޮގަސްޓްމަހު ރާއްޖެއަށް އިމްޕޯޓްކުރެވުނު މުދަލުގެ އަގު 2022ވަނަ އަހަރުގެ އޮގަސްޓްމަހާ އަޅާބަލާއިރު %7 ވަނީ އިތުރުވެފައި
📌އެކްސްޕޯޓްކުރެވުނު މުދަލުގެ އަގު ވަނީ %26 ދަށްވެފައި
Customs data on imports and exports indicated a 17% reduction in the state’s revenue for August, compared to the same month last year. Specifically, in August of the prior year, customs revenue reached MVR 391 million, whereas it decreased to MVR 324 million during August of this year.
The top five countries contributing to imports in the Maldives during August were Oman, India, UAE, China, and Germany.
Top Importers by Value:
1. Oman – Import value of MVR 887 million
2. India – Import value of MVR 736 million
3. UAE – Import value of MVR 648 million
4. China – Import value of MVR 398 million
5. Germany – Import value of MVR 364 million
Interestingly, Germany also emerged as the leading destination for Maldives’ exports in August, with the country receiving 25% of the total exported goods, while the UK received 18%.
Other destinations for Maldivian exports included Thailand, accounting for 13% of total merchandise exports, followed by India at 8%, and France at 5%.