Imports rises by 20 percent, exports fall by 2 percent

Statistics released by Customs show an increasing in the country’s imports by 20 percent, and a fall in the country’s exports by two percent in April, when compared to April, 2015.

Customs import/export report for April shows that total MVR 3.1 billion in goods were exported into the country last April.

It also shows that the two percent drop amounts to MVR 388.6 million.

Customs attributed the rise in imports last month to construction material, machinery and equipment brought in for construction of the bridge between Male’ and Hulhumale’. And the helicopter and its parts brought in for Maldives National Defense Force.

The report shows that the largest percentage of goods and services were imported from India and China, last month.

Imports into the country from India amounts to MVR 552.6 million, while imports from China last month amounts to MVR 466.2 million.

Third highest imports into the country last April was from Singapore with MVR 385.5 million; followed by MVR 329.7 million from United Arab Emirates and MVR 157.3 million from Sri Lanka.

Income earned by Customs from import duties and other fees show a rise of 11 percent last April, when compared to April 2015.

Customs earned MVR 209.7 million in import duty and other fees last April.