In comparison to last year’s February month, this year imports rose by 11% while exports fell by 26%.
In the recent reports released by customs, the value CSF of imported goods for the month of February rose by 11% in comparison to February month last year. Last year, the value of CSF for the month of February was MVR 3.4 billion while this year it was MVR 3.8 billion.
The majority of imports to the Maldives were from China. A total of 14% of imports are from China. Other major importers for the month were Oman and India.
Exports have fallen by 26% in comparison to last year’s February month. Last year around 535 million worth of goods were exported and this year only 394 million worth of goods.
In February month, the majority of exports were made to Thailand. A total of 40% was exported to Thailand for the month of February.
In comparison to last year, this year there was an increase of 19% in the revenue earned by the government through customs.