Imports rise by 27 percent, exports up by 35 percent in December 2022

The Maldives Customs Service has reported a significant increase in imports and exports in December 2022.

Total imports, including fuel, stood at MVR 5.6 billion, with a 27 percent rise, while imports excluding fuel observed a 24 percent increase, totaling MVR 4.6 billion. The country's exports also increased by 35 percent to MVR 299 million worth of commodities.

The top five import categories were fuel, food items, vessels, machinery, and base metals, while the top five import countries were France, Oman, India, Singapore, and China. For exports, the leading categories were frozen skipjack tuna and bonito, followed by prepared and preserved skipjack tuna. The top export destinations were Thailand, Germany, UK, USA, and France.

Despite the rise in imports and exports, the Maldives Customs Service saw a 2 percent drop in revenue, which was reported at MVR 356 million. The authority also collected MVR 1.2 million in royalties. During the same month, 123 vessels arrived and 115 departed, according to the customs records.