August imports at MVR 4.9B, exports at MVR 149M

Maldives Customs Service has released its August trade statistics on Monday, indicating an economic period marked by increases in imports, exports, and customs revenue.

Total imports, including fuel, reached MVR 4.9 billion, a 7% increase from the previous year. Excluding fuel, imports stood at MVR 4 billion, up 4%, reflecting consistent demand for consumer goods and industrial materials.

Key import categories for August included food and beverages (MVR 993 million), petroleum products (MVR 873 million), and machinery (MVR 722 million).

Major importing countries were India (16%, MVR 765 million), the United Arab Emirates (15%, MVR 726 million), and China (13%, MVR 651 million), reflecting the Maldives' strategic position in the Indian Ocean trade network.

Exports saw an 85% year-on-year increase, totaling MVR 149 million. This surge was primarily driven by the fisheries sector, with skipjack tuna (MVR 49 million) and yellowfin tuna (MVR 16 million) being key contributors.

Monthly Statistics - August 2025 (yearly comparison)
⛴️ Imports (Incl. Fuel) MVR 4.9B (+7%)
⛴️ Imports (Excl. Fuel) MVR 4B (+4%)
⛴️ Exports MVR 149M (+85%)
????Revenue MVR 375M (+20%)

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— Maldives Customs Service (@CustomsMv) September 22, 2025

Thailand (41%, MVR 61 million) was the top export destination, followed by Great Britain (26%, MVR 39 million) and Germany (6%, MVR 9 million).

Customs revenue rose by 20% to MVR 375 million. Port activity also increased, with 100 vessels arriving and 120 departing in August, up 7% and 22% respectively from 2024. Additionally, 22,236 declarations were processed, a 6% increase from last year's 21,610.

The August statistics suggest a resilient Maldivian economy, with fisheries exports and customs revenue providing a counter to the nation's import reliance, potentially setting the stage for further trade diversification. 

However, the Maldives remains heavily dependent on imports, and the nation’s rising debt, coupled with a strengthening US dollar on the black market, poses challenges. The Finance Ministry reported a year-to-date decline of MVR 215 million in import duty revenue through August, possibly reflecting earlier monthly shortfalls that the recent customs growth has yet to fully offset.