Exports increase by 51 percent

The Maldives' exports increased by 51 percent in March.

According to customs data, exports stood at MVR 344 million in March this year. This is a 51 percent increase compared to goods worth MVR 228 million exported in March last year.

Thailand accounted for 66 percent of March exports, while nine percent was exported to the UK.

Customs statistics show the CIF value of imports increased by 10 percent in March compared to the same month last year. While imports stood at MVR 3.9 billion in March last year, the figure rose to MVR 4.3 billion during the same period this year.

The largest amount of goods was imported to the Maldives last month from UAE. Goods worth MVR 753 million were imported from UAE, while goods worth MVR 696 million were imported from neighboring India. Goods worth MVR 467 million were imported from Oman, followed by goods worth MVR 408 million from Singapore and MVR 357 million from China.

Import and export revenue increased in March this year compared to the same month last year. While MVR 330 million was generated in March this year, MVR 320 million was generated in March last year.