Imports rise by 4 percent and exports fall by 18 percent

The value of goods imported into the Maldives, including fuel, increased by four percent, compared to the same period in 2023.

While goods worth MVR 4.2 billion were imported in February 2023, imports have risen to MVR 4.4 billion in February 2024.

Customs collected MVR 1,220,150.69 in royalties in February, while revenues stood at MVR 208 million; which is a 30 percent decline compared to February 2023 when revenues stood at MVR 297 million.

In addition, statistics from Customs reveal that while goods worth MVR 191 million had been exported in February this year, this marks a decline of 18 percent from the MVR 232 million worth of goods exported in February 2023.

Major importing countries

- Oman: MVR 657 million

- India: MVR 606 million

- UAE: MVR 579 million

- China: MVR 578 million

- Singapore: 403 million

Major exporting countries

- Thailand: MVR 95 million

- Great Britain: MVR 30 million

- Germany: MVR 25 million

- Bangladesh: MVR 7 million

- France: MVR 5 million

Thailand accounts for 50 percent of exports from the Maldives, totaling MVR 95 million, while Oman accounts for 15 percent of imported goods to the Maldives, amounting to MVR 675 million.