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Customs revenue increase by 30 percent in January

Mohamed Rehan
22 February 2022, MVT 12:27
The commercial harbor managed by Maldives Ports Limited (MPL) is the primary import and export gateway of the Maldives--
Mohamed Rehan
22 February 2022, MVT 12:27

The latest update from Maldives Customs Service confirm that the revenue generated to the authority for the month of January 2022 increased by 30 percent.

Moreover, the authority had collected a total of MVR1.2 million in royalties.

Imports, including fuel, increased by 49 percent during the review month with a total of MVR4.2 billion worth of goods imported through the gateway.

On the other hand, exports increased by 44 perent with a total of MVR471 million worth of goods exported out of the island nation.

Major import categories include machinery and mechanical appliances, food items (excluding pork, alcohol, and tobacco), and fuel (marine gas oil, petrol, and aviation gas).

According to statistics, Maldives imported MVR841 million worth of machinery while a total of MVR815 million worth of food items were imported.

Additionally, statistics attest that the fuel imports to the Maldives reached a total of MVR722 million for the review month.

The biggest importers to the island nation include China, with 20 percent of all imports originating from the Asian giant, Oman with 14 percent of all imports, India and UAE with 12 percent each and Singapore with 11 percent of all imports.

Imported goods from China stood at a total of MVR831 million, from Oman MVR572 million worth of goods were imported and from India MVR514 million of goods.

Goods imported from UAE held a total of MVR480 million and from Singapore MVR463 million worth of goods were imported to the Maldives.

The island nation is heavily reliant on fish exports and this was reflective on the export composition as well.

Maldives exported MVR157 million worth of frozen skipjack tuna or stripe-bellied bonito, while the island nation exported MVR33 million worth of prepared and preserved skipjack tuna.

Major export destinations of the Maldives include Thailand, with 54 percent of all goods exported, UK with 10 percent, Mauritius with 7 percent, Germany with 6 percent, and 3 percent of goods exported to neighboring India.

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