Exports saw a staggering 64% decline in March 2024, reports the Maldives Customs Service.
According to Customs, exports for March 2024 registered 124 million whereas in the corresponding month last year, exports stood at a total of MVR 344 million.
While imports, inclusive of fuel stood at MVR 4.4 billion; which is a 4% increment compared to the same month last year, imports excluding fuel saw a 4% drop, registering a total of MVR 3.4 billion.
March 2024 was not favorable for Customs Service as the month observe a 3% decline in revenue, reaching just MVR 320 million. Last year in the same month, Customs had collected a revenue of MVR 330 million.
Despite this, Custom's royalties which stood at MVR 14 million in March last year increased to MVR 19 million in the review month.
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