Maldives import duty observes 13% jump in March 2021

Maldives Customs Service reveals the total imports (including fuel) saw a 13% increment for March 2021.

Moreover, along with this increment, the total import valuation for the review month stood at MVR3.6 billion.

On the other hand, the import/export duty for the review month stood at MVR266 million – observing a 13% increase.

Imports excluding fuel observes an increment of 4%, which translates to MVR2.9 billion of the total imported goods.

Meanwhile, exports from Maldives saw a decline of 21% with just MVR301 million worth of goods flying out of the country.

The major export item for the review month was skipjack or stripe-bellied Bonito (frozen), with an export value of MVR88 million.

Furthermore, the second major export component was the skipjack at MVR30 million.

In March, Customs report importation of food items excluding pork, alcohol and tobacco as the strongest import category with a value of MVR808 million.

Second largest import category as per Customs include machinery and mechanical appliance at an import total of MVR639 million.

Moreover, Customs authority report a total of 133 vessel arrivals in March 2021.

On the other hand, the authority reports 154 vessel departures during review month.

Both Oman and India remain as top importers to Maldives, each with 13% of the share; with a total of MVR465 million and MVR439 million respectively.

Singapore stood as the third strongest importer to Maldives with MVR432 million worth of goods and a 12% share.

Meanwhile, Thailand remains as strongest export destination for Maldives with 38% of share, worth MVR77 million of exports.

Japan holds 11% of the share with MVR23 million of exports reaching the country, with India sharing 8% of the total exports which is MVR15 million.