Maldives sees a drop in imports, rise in exports in December

Male' Commercial Port. (Photo/Customs)

The value of imports to Maldives dropped sharply while exports rose slightly in December 2020.

According to the monthly import/exports statistics released by Maldives Customs Service, Maldives recorded MVR 2.6 billion in imports in December. The value is a 40 percent drop compared to the MVR 4.4 billion in imports recorded over the same period last year.

Meanwhile, the value of exports in December was recorded as MVR 459 million. The value is an 8 percent rise compared to the MVR 425 million in exports over the same period last year.

As a result of the fall in imports, revenue from import/export duty and additional fees dropped by 30 percent.

MVR 359 million was collected as import/export duty in December 2019, but only MVR 252 million in December 2020.

The major importing countries in December were China, UAE and India. Maldives imported MVR 408 million worth of products from China and UAE, and MVR 360 million worth of products from India.

Meanwhile, the major exporting countries in December were Thailand, Germany and India.