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Imports fall 51%, exports drop 73% in May: Customs

Mariyam Malsa
18 June 2020, MVT 19:25
Imported cargo being loaded onto a boat. PHOTO: AHMED AWSHAN ILYAS/ MIHAARU
Mariyam Malsa
18 June 2020, MVT 19:25

Maldives Customs Service, on Wednesday, revealed that Imports and Exports had fallen by 51 percent and 73 percent respectively in May 2020.

According to Customs' monthly import-export statistics, a total of MVR 1.1 billion was received as income from imports and exports compared to MVR 1.4 billion in May 2019, representing a 26 percent decrease.

Customs reported that onion imports had increased 82 percent till date this year, compared to the same period in 2019. The increase was attributed to the government's effort to ensure stable onion prices in Maldives after heavy rains in India caused crop failures and led to higher prices.

While India was noted as the single largest contributor to imports last month, accounting for 17 percent of all imports, Maldives also imported goods from China, Singapore, Sri Lanka and the United Arab Emirates (UAE).

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