Maldives sees rise in import revenue, drop in exports in March

The value of exports fell while revenue from imports rose in March, compared to the same period last year.

According to the monthly import/export statistics released by Maldives Customs Service, Maldives recorded MVR 301 million in exports in March - a 21 percent drop compared to the MVR 380 million in exports in March last year.

Maldives’ main exports during the period were fish products.

The major exporting countries in March were Thailand, Japan and India. Maldives exported MVR 77 million worth of products to Thailand, MVR 23 million worth of products to Japan, and MVR 15 million worth of products to India.

Meanwhile, the value of imports in March was recorded at MVR 3.6 billion. The figure is a 13 percent rise compared to the MVR 3.2 billion during the same period last year.

The major importing countries in March were Oman, India and Singapore. Maldives imported MVR 465 million worth of products from Oman, MVR 439 million worth of products from India, and MVR 432 million worth of products from Singapore.

Maldives collected MVR 266 million as revenue from import/export duty and additional fees in March - a 13 percent increase compared to the MVR 235 million during the same period last year.