Customs Reports 4% Rise in this Month’s Imports

Maldives Customs Service has reported a 4% increase in total imports, inclusive of fuel, for the month of February 2024. 

The total imports, including fuel, stood at MVR 4.4 billion, while imports excluding fuel stood at MVR 3.4 billion. While import commodities saw a mild overall increment, exports from the Maldives saw a notable 18% decline in the month, registering just MVR 191 million worth of export commodities. In the corresponding month last year, Maldives exported MVR 232 million worth of commodities. 

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Additionally, customs revenue saw a significant 30% decline in February 2024, registering MVR 208 million compared to the MVR 297 million registered in the corresponding month in 2023. Major Import Categories include fuel, food items (excluding pork, alcohol, tobacco), machinery and mechanical appliances, base metal and its parts, and chemical products. 

The top importers were Oman with MVR 657 million, India with MVR 606 million, UAE with MVR 579 million, China with MVR 578 million, and Singapore with MVR 403 million. 

Major Export Commodities comprised frozen skipjack tuna, skipjack tuna (prepared/preserved), yellowfin tuna (frozen), flours, meals and fish pellets (unfit for human consumption), and yellowfin tuna chunk. 

The primary export destinations were Thailand with MVR 95 million, Great Britain with MVR 30 million, Germany with MVR 25 million, Bangladesh with MVR 7 million, and France with MVR 5 million. 

During the review month, Customs reported 137 vessel arrivals and 160 departures.