Imports increase by 19 percent, exports by 33 percent in May

Maldives Customs has said that imports increased by 33 percent, while imports increased by 19 percent in Maldives in May 2014.

Statistics published by Maldives Customs show that goods worth MVR 252.5 million was imported in May 2014. This is about 62 million more than the value of goods imported in May 2013.

There was also a 19 percent increase in revenue collected as import duty and other charges. Total revenue collected in May 2014 was MVR 153.2 million, while it was MVR 129.1 million in May 2013.

Import of fuel accounted for 31 percent of total imports in May 2014 while food Items was ranked second with 19 percent share of total imports. Third most imported category of goods was machinery and electronics which accounted for 15 percent of total imports in May 2014.

Top most countries to which goods were imported during the month of May were United Arab Emirates (UAE) with 21 percent (MVR 562.4 million), Singapore with 19 percent (MVR 487.1 million), and India with 9 percent (MVR 243.2 million).

Looking at exports, goods worth MVR 111 million was exported in May 2014, compared to MVR 320 million in the corresponding period last year.

Thailand, with 62 percent, leads the list of countries exported to by Maldives in May 2014. France and South Korea follow in the second and third position with 9 percent and 6 percent share respectively.