Exports decline by 43% in Sept; customs revenue rises 3%

Customs revenue rose by 3 percent in September, while both imports and exports declined.

The monthly statistics released by Maldives Customs Service on Saturday show Maldives generated MVR 360 million as customs revenue in September 2023 – a three percent increase compared to the MVR 324 million generated in August 2023.

Maldives imported MVR 4.3 billion in commodities (including fuel) in September 2023 – a 3 percent decline compared to the previous months. The imports, excluding fuel, totaled MVR 3.2 billion – an 8 percent decline compared to the previous month.

The top importing countries:

• Oman: MVR 883 million (21 percent)
• India: MVR 681 million (16 percent)
• UAE: MVR 500 million (12 percent)
• China: MVR 406 million (10 percent)
• Singapore: MVR 406 million (10 percent)

Meanwhile, Maldives exported MVR 86 million in fish products in September 2023 – a decline of a steep 43 percent compared to the previous month.

Top exporting countries:

• Thailand: MVR 33 million
• UK: MVR 21 million
• France: MVR 6 million
• India: MVR 5 million
• Germany: MVR 3 million

The exports in September 2023 included MVR 26 million in frozen skipjack or stripe-bellied bonito, MVR 25 million in skipjack tuna, and MVR 9 million in yellowfin tuna.