Twenty-two percent fall in imports in August

Twenty-two percent fall in imports in August




The total CIF value of goods imported during the month of August 2019 has shown a 22 per cent fall compared to the same period last year. Total CIF value of goods imported during August last year was MVR4.2 billion. This figure fell to MVR 3.3 billion in August 2019.
Subsequently, total revenue generated through import duty and other fees also dropped by 13 per cent, from MVR301 million in August 2018 to MVR 262 million in August 2019.
Despite substantial falls in merchandise imports and duty revenue during the month, similar quantity was traded during August this year and the previous year. A total of MVR 255 million worth merchandise were exported during August 2019, some 3 million less than last year’s same period.
With significant fall in petroleum imports last month, the list of countries with highest imports were also reordered with Singapore topping the list followed by U.A.E and China. Each of these three countries shared a seventh of the total value of goods imported respectively.
On exports, approximately a quarter of goods exported went to the United States. Great Britain and France came second and third on the list respectively.
For further details, please refer to ‘Monthly Statistics Sheet’.

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Email: media@customs.gov.mv

Maldives Customs Service

Published

September 30, 2019

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