Imports drop by 35%, earnings recede by 66%

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According Maldives Customs Service, the total imported goods during August 2020 saw significant drop.

Moreover, the authority reports import goods for review month saw a drop by 35% in comparison with same month of 2019.

This in turn gave effect to the revenue from import duty collection as well.

As such, the revenue from import duty fell by 66% in comparison with the same month last year.

On the other hand exports from Maldives saw a dip by 2% in the month as well.

Maldives is notable for its exportation of fish and its related products – which also covers most of the exports.

Customs authority claim import good valuation at MVR3.3 billion in August 2019, whereas it fell to MVR2.1 billion in review month.

Furthermore, revenue from import duty stood at MVR102 million in August 2020.

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