Imports at MVR 4.7 bil, export revenue at MVR 292 mil in April

According to Maldives Customs Service, total imports for this year’s April stood at MVR 4.7 billion, with MVR 292 million worth of exports.

Statistics from the authority revealed exports in March stood at MVR 204 million, which indicates a 43 percent increase in April.

While the total imports inclusive of fuel stood at MVR 4.7 billion, exports excluding fuel stood at MVR 3.8 billion. Total imports in April saw an increase of 6.8 percent compared to the month before.

Customs reported a revenue of MVR 379 million and another MVR 11 million in royalties for the review month. In March, revenues stood at MVR 350 million, which indicates an increase of MVR 88 million in April.

Major Importing Categories

1. Food items (excluding pork, alcohol, tobacco): MVR 1.02 billion
2. Fuel (marine gas oil (diesel), petrol, aviation gas): MVR 905 million
3. Machinery and mechanical appliances, electrical: MVR 718 million
4. Base metal and articles of base metal: MVR 352 million
5. Products of the chemical or allied industries: MVR 296 million

Major Importing Countries

• United Arab Emirates (UAE): MVR 1.3 billion (28 percent)
• India: MVR 735 million (16 percent)
• China: MVR 472 million (10 percent)
• Singapore: MVR 425 million (9 percent)
• Malaysia: MVR 261 million (6 percent)

Major Exporting Countries

1. Thailand: MVR 186 million (64 percent)
2. Great Britain: MVR 43 million (15 percent)
3. Egypt: MVR 12 million (4 percent)
4. Vietnam: MVR 12 million (4 percent)
5. Switzerland: MVR 11 million (4 percent)

Major Export Commodities

• Frozen skipjack tuna (stripe-bellied bonito) (katsuwonus pelamis): MVR 195 million
• Skipjack tuna (prepared or preserved): MVR 69 million
• Yellowfin tuna (frozen): MVR 6 million
• Flours, meals and pellets of fish etc. (unfit for human consumption): MVR 6 million
• Yellowfin tuna loins (fresh or chilled): MVR 3 million

With mounting state debt, the Maldives, which heavily relies on imports that result in increased state expenditures, have been taking measures to cut back on imports.