Exports decreased while imports and customs revenue increased in August 2021 compared to the previous year, the Maldives Customs Service has revealed.
According to Maldives Customs statistics for August, the country’s exports fell by 60% compared to the same period in 2020. This equates to MVR 270 million in commodity exports in August, which is less than half of the MVR 675 million in exports recorded last year.
Thailand received the most exports from the Maldives, with MVR 130 million in exports, followed by the United Kingdom with MVR 18 million and Germany with MVR 16 million. The Netherlands and India rounded out the top five, with MVR 13 million and MVR 11 million, respectively.
According to the data, Maldives imported MVR 2.1 billion in commodities in August of last year, but that amount increased by 63% to MVR 3.5 billion in 2021.
India is the biggest importing country to the Maldives, with MVR 492 million, followed by China with MVR 458 million. The remaining three countries in the top five are the United Arab Emirates (447 million), Oman (299 million), and Singapore (288 million).
Furthermore, in August, Maldives Customs reported a 182% increase in revenue from import tariffs and other levies. It generated MVR 102 million in import duty in 2020, and MVR 288 million in import duty in August 2021.
