Maldives has recorded an increase in imports, exports as well as tariffs in July 2018.
According to Maldives Customs Services, MVR 4.1 billion worth of goods was imported to the Maldives, which is a 38 percent increase from previous July’s imports which amounted to MVR 2.6 billion worth of goods.
United Arab Emirates (UAE) accounted to a mass of 19 percent of the total amount of goods imported. This is the largest percentage belonging to one country, followed by China which accounted to 18 percent whereas Singapore followed third with 14 percent.
Reports also indicated an 11 percent increase in import tariff compared to that of July 2017. Whilst the total amount of tariff in July 2018 was MVR 282 million, 2017 recorded MVR 254 million during the same period.
There has also been a notable increase in export tariff. July 2018 noted MVR 263 million whereas July 2017 amounted to MVR 203 million in export tariff. This is a 30 percent increase within one year.
Maldives mostly exports fish products, with highest number of exports being made to Thailand, while 19 percent of the exports were made to United Kingdom, 16 percent to Germany and 9 percent to the United States.