Imports and exports drop by 24 percent

Maldives Customs Service has said that both imports and exports fell by identical proportion - 24 percent - during February 2014 compared with February 2013.

Customs said that imports in February 2014 amounted to MVR 1.95 billion, while it was MVR 2.57 billion in February 2013.

Similarly, exports in February 2014 was recorded at MVR 149.70 million, while the figure was MVR 196.40 million in the corresponding period last year.

The authority also said that total imports thus far this year amounts to MVR 4.60 billion, of which roughly one-third came from United Arab Emirates. Second and third most imports came from Singapore and Thailand respectively.

Total exports thus far this year is MVR 452 million, and most exports went to Thailand, South Korea and France, said Maldives Customs Service.