Import numbers to Maldives increase while exports fall

Workers lean against containers at the Male' Commercial Harbor on April 5, 2020. (Sun Photo/Fayaz Moosa)

Import of goods into the Maldives has seen an increase in the month of April, when compared with the figures from the same period of last year. 

Statistics published by the Maldives Customs shows that goods worth MVR 3 billion were imported to the Maldives in April of 2021, while last year, MVR 1.8 billion worth of goods were imported. This is an increase of 67 percent when compared on a yearly basis. 

According to the statistics, MVR 779 million of the items imported were food items while MVR 517 million were valuable machinery and mechanical equipment. MVR 402 million worth of fuel was also imported into the Maldives in April 2021. 

UAE was the source of the most imports into the Maldives with MVR 444 million worth of goods. India came next with MVR 411 million worth of items. MVR 370 million worth of goods came from Oman while MVR 314 million and MVR 207 million worth of goods came from Singapore and China respectively. 

Looking at exports, MVR 174 million worth of goods were exported by the Maldives in April 2021, while MVR 237 million was exported in April last year. This is a fall of 27 percent. 

The biggest export item from the Maldives are frozen fish and Thailand is the destination of the most exports from the Maldives with MVR 81 million worth of items. MVR 12 million was exported to India and UK separately. 

The next biggest export markets for the Maldives are Germany and the USA. 

Customs statistics also show that the income revenue of the Maldives rose by 101 percent last April. This includes MVR 261 million as duty and MVR four million as royalties. In April 2020, MVR 129 was received as duty payments to Customs.