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Revenue from Import Duty up 31 percent in April

Fathmath Shaahunaz
21 May 2018, MVT 10:41
At the Male Commercial Harbour. PHOTO: ABDULLA JAMEEL/MIHAARU
Fathmath Shaahunaz
21 May 2018, MVT 10:41

Maldives Customs Service revealed Sunday that its revenue from Import Duty had increased by 31 percent in April.

Customs' statistics show that the state recorded a revenue of MVR 262 million last month from Import Duty and other fees. The number stood at MVR 200 million in the same period last year.

The statistics further indicated that import prices in April were 16 percent higher compared to 2017. Customs recorded imports of MVR 3.77 billion last month, while in April last year, goods worth MVR 3.25 billion were imported.

The bulk of the goods were imported from the United Arab Emirates at 21 percent, followed by Singapore with 13 percent and China with 12 percent.

According to Customs, exports had also gone up in April. While goods worth MVR 208 million were exported last year April, the record for the previous month was MVR 368 million, which is an increase of 77 percent from the previous year.

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