Imports increase by 17 percent with goods worth MVR 23.9 billion

Maldives Customs Service has said that a total of MVR 23.9 billion worth of goods was imported to the Maldives last year, which resulted in a 17 percent increase compared to 2011.

Figures show that a total of MVR 20.5 billion worth of goods were imported in 2011, and MVR 14.0 billion worth of goods were imported in 2010.

Customs said that the amount of revenue gained by the State from imposing import duty had dropped from MVR 2.6 billion in 2011 to MVR 1.3 billion in 2012, which calculates to a 50 percent decrease.

The most value of goods was imported from United Arab Emirates (UAE) which totalled MVR 7.3 billion, which largely consisted of oil.

The second most value of goods was imported from Singapore with a total of MVR 4.5 billion, while the third most value of imports came from India which totalled MVR 2.2 billion.

The country’s exports have also increased showing that total exports summed up to MVR 2.5 billion last year, while the total exports for 2011 stood at MVR 1.8 billion. This shows an increase of 44 percent compared to 2011.