Imports to Maldives increase to 52 percent in May 2022

According to the latest update from Maldives Customs Service, the total imports inclusive of fuel rose to 52 percent in May 2022.

The total imports to the country in the review month was recorded at MVR4.4 billion.

On the other hand, exports from the country was reported at 40 percent, which translates to MVR719 million worth of exported commodities.

Major importing categories for the month include;

- Fuel (marine gas oil, petrol, aviation gas) - MVR1.0 billion

- Food Items (excluding pork, alcohol and tobacco) - MVR869 million

- Machinery and mechanical appliance; electrical - MVR797 million

- Base metal and articles of base metal - MVR278 million

- Products of the chemicalor allied industries - MVR272 million

- Plastic and articles thereof; rubber and article - MVR146 million

Major importers to the Maldives include Oman with 18 percent of the total imported goods originating from the Western Asian country which is a total of MVR783 million worth of import items, and 15 percent of imports coming from India which translates to MVR650 million worth of import goods. Other major importers to the island nation include;

- China (10 percent of the total imports) - MVR447 million

- UAE (10 percent of the total imports) - MVR426 million

- Singapore (9 percent of the total imports) - MVR387 million

Customs authority report a total of MVR300 million collected in import revenue, which translates to an improvement of 26 percent.

The primary export commodities of the island nation include fish and fish-related products. As such, the major export commodities for the month of May include;

- Frozen skipjack or Stripe-bellied bonito (frozen) - MVR113 million

- Skipjack Tuna (prepared, preserved) - MVR54 million

- Yellowfin Tuna - MVR15 million

The primary export destination from the Maldives is Thailand with 58 percent of the total commodities exported to the Southeast Asian country which is MVR121 million worth of export commodities. Other major export destinations include;

- UK (10 percent of the total exports) - MVR20 million

- Germany (9 percent of the total exports) - MVR18 million

- India (5 percent of the total exports) - MVR9 million

- France (4 percent of the total exports) - MVR8 million

During the review month, Maldives Ports Limited (MPL) reported a total of 85 vessel arrivals and 117 vessel departures.