Rise in overall import/exports recorded in 2016

Statistics released by Maldives Customs Service shows an increase in import/exports in 2016, compared to 2015.

The statistics released this Monday also shows State earned MVR 2.6 billion in import duty in 2016, which is an eight percent increase compared to 2015.

Value of exports made in 2016 was recorded at MVR 3.9 billion, which is a seven percent increase compared to MVR 3.6 billion exported in 2015.

33 percent of Maldivian exports in 2016 was made to Thailand, followed by 11 percent to Sri Lanka and nine percent to Unites States.

Meanwhile, the value of imports into the country in 2016 was recorded at MVR 34 billion, which is an increase of 12 percent compared to MVR 31 billion in 2015.

21 percent of the imports was for MVR 6.7 billion in machinery and electronics – which has been linked by Customs to machinery and equipment brought in for construction of the China-

Maldives Friendship Bridge between Male’ City and Hulhule’.

The second largest share of the imports went to food and beverage. The MVR 6.4 billion spent on import of food and beverage products made up for 19 percent of the total imports.

And after food, the largest share went to importing fuel. MVR 3.5 billion was spent on import

of fuel.

Customs records show the biggest importer of Maldives was United Arab Emirates, which exported MVR 5.3 billion worth of commodities to Maldives.

UAE dominated 16 percent of total imports into Maldives in 2016.

The second and third biggest importer was Singapore and India; which exported MVR 4.7 billion and MVR 4.2 billion worth of goods to Maldives, respectively.