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Maldives records spikes in import-export in July

Lujine Rasheed
14 August 2018, MVT 10:10
Overhead view of Male Commercial Harbor. PHOTO/CUSTOMS
Lujine Rasheed
14 August 2018, MVT 10:10

In this past July, Maldives has experienced a recorded increase in imports, exports and tariff.

According to the reports made public by Maldives Customs Services, a recorded amount of MVR 4.1 billion worth of goods was imported to the Maldives. This is a 38 percent increase from last year's July imports, which amounted to MVR 2.6 billion worth of goods.

A mass of 19 percent of the total amount, included goods imported from the United Arab Emirates (UAE). This is the largest percentage belonging to one country. Second largest of 18 percent belong to China, followed by Singapore with 14 percent.

Furthermore, the reports indicated an 11 percent increase in import tariff in comparison to last year's July reports. Total amount of tariff in July 2018 was MVR 282 million, while last year recorded MVR 254 million.

Adjacently, there has been a notable increase in export tariff as well. While July 2017's total amount of export tariff amounted to MVR 203 million, July 2018 tariff amounted to MVR 263 million, marking a 30 percent increase within one year.

The most commonly exported goods by the Maldives are fish products, with the highest number of exports made to Thailand at 26 percent of the total exports, while 19 percent of exports were made to the United Kingdom, 16 percent to Germany, and nine percent to the United States.

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