Exports decrease by 48 percent, imports increase by four percent

Export of goods from Maldives has been decreased by 48 percent and import to Maldives has been increased by four percent in October 2014 when compared with October 2013.

According to import/export statistics of Customs, goods worth MVR 131.3 million have been exported from Maldives in October 2014, while goods worth MVR 251.3 million have been exported from Maldives in October 2013.

According to Customs, decrease in export of chilled yellow fin tuna and skipjack tuna from Maldives was the main reason for the decrease in exports in October 2014 when compared with October 2013.

While imports have been increased by four percent in October 2014 when compared with October 2013, out of the total amount spent on imports, most were spent on importing petroleum products. Hence, MVR 625.7 million has been spent on fuel. The second most imported category was food items, followed by machinery and electronics.

Customs’ income from customs tax and other fees has been increased by eight percent in October 2014 when compared with October 2013. Customs generated an income of MVR 158.3 million in October 2013 while income generated in October 2014 has been increased to MVR 170.8 million.

Most of goods from Maldives in October 2014 have been exported to France, followed by America and Ireland.