Import, export revenue falls by 66 percent

Maldives Customs Service has stated that the revenue generated via import and export trade has fallen by 66 percent.

Statistics published by Customs show the state received MVR 297 million during the month of August last year. However, a decline of 66 percent was recorded during the same period this year, with MVR 102 million generated as revenue from import and export trade.

The figures show a drop of 35 percent in the value of imports compared to the same period last year. While MVR 2.1 billion was recorded in imports in August this year, goods valued at MVR 3.3 million was imported in August 2019.

The statistics report also noted a 2 percent drop in value of exports, with MVR 256 million generated as revenue in August last year. However, the value decreased to 251 million this August, the report said.

Customs said most goods were imported from China, India and Singapore. While goods worth MVR 429 million were imported from China, goods worth MVR 293 were imported from India. Singapore came in third with goods worth MVR 254 million received from the country.