Income from import duty up by 25 percent in January

Maldives Customs Service statistics show income from import duty up by 25 percent in January compared to January, 2016.

Statistics show Customs earned MVR 226 million from import duty and other fees last January, while it earned only MVR 181 million in January, 2016.

Earnings from CIF (Cost, Insurance and Freight) of imports also showed an increase by 36 percent.

MVR 3.3 billion worth of products were imported into Maldives last January, which is higher compared to MVR 2.4 billion worth of imports in January, 2016.

18 percent of the total value of imports were from United Arab Emirates, 13 percent from Singapore, and 11 percent from India.

Meanwhile, the statistics show a 137 percent increase in exports last January compared to January, 2016.

Maldives exported MVR 633 million worth of products last January, while it exported just MVR 265 million worth of exports in January, 2016.

69 percent of the exports last January were fish products, exported to Thailand.