Imports rise by 14%, exports decline by 15% in October

Maldives recorded a 14 percent increase in imports in October, compared to the same period last year.

The monthly statistics released by Maldives Customs Service on Monday show Maldives imported MVR 4.3 billion in commodities in October 2022. The figure is 14 percent (MVR 1.4 billion) higher than the imports in October 2021.

Meanwhile, Maldives generated MVR 364 million in customs revenue in October 2022 – a 24 percent increase compared to the MVR 294 million in customs revenue generated in October 2021.

Immigration collected MVR 8.7 million in royalties.

16 percent of the MVR 4.3 billion in commodities were imported in October were from India.

TOP IMPORTING COUNTRIES:

• India: MVR 681 million (16 percent)
• Oman: MVR 513 million (12 percent)
• Singapore: MVR 510 million (12 percent)
• UAE: MVR 490 million (12 percent)
• China: MVR 462 million (11 percent)

Meanwhile, Maldives exported MVR 186 million in commodities in October 2022. The figure is 15 percent lower than the exports in October 2021.

40 percent of the commodities were exported to Thailand.

TOP EXPORTING COUNTRIES:

• Thailand: MVR 74 million (40 percent)
• Germany: MVR 23 million (12 percent)
• Mauritius: MVR 21 million (12 percent)
• UK: MVR 15 million (8 percent)
• France: MVR 10 million (55 percent)

The exports in October 2022 included MVR 105 million in frozen skipjack or stripe-bellied bonito, MVR 44 million in skipjack tuna, and MVR 7 million in yellowfin tuna.