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Exports down by 37 percent, Imports rising: Customs

Ahmed Aiham
15 November 2018, MVT 09:03
Male Commercial Harbor. PHOTO/CUSTOMS
Ahmed Aiham
15 November 2018, MVT 09:03

Maldives Customs Service revealed that imports to the Maldives have increased, while exports have decreased by 37 percent, compared to figures recorded during the same month last year.

The statistics released by Customs noted MVR 409.1 million worth in exported goods in October, 2017, although only MVR 257.1 million worth of goods were exported in October, this year.

As exports decreased, Maldives saw a 20 percent increase in the imports of goods.

Customs added that MVR 3.9 billion worth of goods were imported in October this year, compared to the goods worth MVR 3.2 billion imported in October, last year.

The main export of Maldives is raw fish and fish-based products.

The United Kingdom is the largest importer of Maldivian goods, having imported 19.8 percent of the total Maldivian export in 2017, followed by the United States of America, Germany, and close neighbor Sri Lanka. While America imported 15.5 percent, Germany imported 14.2 percent and Sri Lanka imported 10.2 percent of the total Maldivian export.

United Arab Emirates (UAE) is the largest exporter for the Maldives in the year 2017, with over 17 percent of total imported goods originating from the UAE, Second to Singapore and China, which constitute to 16 percent and 13 percent total imports respectively.

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