Import and export revenue increased by 104 percent

The revenue generated from import and export has increased by 104 percent in May.

According to Maldives Customs Service, the state generated 238 million Rufiyaa last month from import and export. Comparatively, Maldives generated 117 million Rufiyaa from imports and exports in May 2020. The increase in 121 million Rufiyaa is an increment of 104 percent.

The revenue generated is reflective on the amount of products and goods imported to and exported from Maldives as well. While products amounting to over 3.2 billion Rufiyaa was imported to Maldives in the previous month, in May 2020, only 1.6 billion Rufiyaa of goods were imported. There is a similar trend with exported products as well; last month 333 million Rufiyaa worth of goods were exported while in 2020, only 174 million Rufiyaa goods were exported.

The country that exported the most amount of products last month was India, with 449 million Rufiyaa of goods. Oman imported 431 million Rufiyaa of goods while United Arab Emirates (UAE) imported 337 million Rufiyaa worth of goods.

Maldives exported the most amount to Thailand last month, with 254 million Rufiyaa worth of goods.

Additionally, Maldives Customs had said over one million Rufiyaa was generated in royalty income last month as well.