Maldives’ imports and exports continue fall amid the coronavirus pandemic, resulting in a 21 percent drop in revenue generated from import/export duty in May.
According to the monthly statics released by Maldives Customs Service on Monday, Maldives recorded MVR 2.1 billion in imports in June. The value is a 36 percent drop compared to the MVR 3.3 billion in imports recorded over the same period last year.
The major importing countries were China, India, Singapore, Oman and United Arab Emirates.
Meanwhile, the value of exports in June was recorded as MVR 217 million. The value is a 33 percent drop compared to the MVR 326 million in exports over the same period last year.
The major exporting countries were Thailand, Italy, UK, Germany and US.
With the decline in both imports and exports, the country generated MVR 211 million as income from import/export duty in June. It is a 21 percent drop compared to the MVR 266 million generated as import/export duty over the same period last year.
While both imports and exports have declined based on year-on-year comparison, it shows improvement compared to May this year.
As such, imports in June rose by 36 percent, and exports rose by 46 percent compared to May.