Imports in April decline by 4 percent

The CIF value of imports in Maldives decreased by 4 percent in April this year compared to the same month last year, according to customs data.

Imports for April this year amounted to MVR 4.5 billion, whereas they reached MVR 4.7 billion in the corresponding period last year. The decline in imports also led to a 16 percent drop in revenue, with MVR 305 million received this April compared to MVR 361 million in April last year.

During April, the majority of goods imported to Maldives were from India, valued at MVR 757 million, representing 17 percent of total imports. Oman followed with goods worth MVR 707 million, while the UAE accounted for MVR 573 million, China for MVR 520 million, and Singapore for MVR 467 million.

Despite the decrease in imports, Maldives experienced an increase in exports during April this year when compared to April 2022. The country exported goods worth MVR 193 million, marking a 4 percent rise from the MVR 186 million recorded last year. Thailand emerged as the primary export destination, constituting 45 percent of total exports, followed by the UK with 18 percent, Germany with 11 percent,