Import and export decline in December '23

Maldives Customs Service has reported a decline in both imports and exports in December 2023.

According to customs data, imports declined by nine percent in December 2023 when compared to the figures from the same month in 2022. The recorded value of imported goods stood at MVR 5.1 billion in December 2022 compared to a reduced MVR 5.6 billion in December 2023.

Meanwhile, Maldives' exports also declined by 14 percent in December last year compared to the same period in 2022. While goods worth MVR 292 million were exported in December 2022, exports stood at MVR 292 million in December last year.

Customs revenue also mirrored the downward trend in December 2023, with a decline of nine percent. In December 2023, the government received MVR 332 million through customs, a significant dip from the MVR 365 million collected during the same period in the previous year.

In December 2023, China emerged as the leading source of imports for the Maldives, contributing goods valued at MVR 782 million. Oman followed closely with imports totaling MVR 768 million, while Singapore, India, and the UAE accounted for MVR 731 million, MVR 683 million, and MVR 591 million worth of imports, respectively.

The Maldives exported the most goods to Thailand in December 2023. Thailand accounted for 66 percent of total exports during this period.