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Import-export rises, state records MVR277 mln in revenue

Shaina Abdulla
23 April 2018, MVT 12:33
Overhead view of Male commercial harbour. PHOTO/MIHAARU
Shaina Abdulla
23 April 2018, MVT 12:33

The state has recorded MVR277 million as revenue with a rise in the import of goods, customs duty, other fees and fines in March 2018.

Maldives Customs Services announced that there was an increase of 48 percent in the amount of goods imported and an increase of 60 percent in the total revenue collected through customs duty and other fees and fines last month.

The figures showed that the total revenue collected through customs duty and other fees and fines was a total of MVR 278 million in March, whereas the figure was recorded as MVR 173.40 million in the same period in 2017.

Customs further revealed that goods worth more than MVR 3.03 billion were imported during March 2017, whereas the figure was recorded at MVR 4.49 billion last month.

China was recorded as the highest amongst the top importing countries with 28 percent, followed by United Arab Emirates with 15 percent and India with 11 percent of the total import value.

Customs also recorded an increase in exports with goods valued at MVR246.10 million in March 2018 when compared to the goods exported in March 2017 worth MVR 165.6 million.

Fish products are the main exports of the Maldives and the value of fish products exported during last March increased by 49 percent compared to March 2017.

According to Customs' statistics, Thailand was recorded as the highest exporting country with 35 percent of the total exports for this period. Other major exporting countries include Germany, England, United States of America and France.

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