Import-Export Duty observes 101% bump in April 2021

Maldives Customs Service reports a 101% increment on import and export duties for April 2021.

Moreover, in their latest statistical update, the authority confirms 67% increment in import duty with the inclusion of fuel.

Total import duty with the inclusion of fuel reaches MVR3 billion.

On the other hand, export duty exclusively observes a 27% decline in the review month, which stood at MVR174 million.

During the review month, Maldives made importation of MVR779 million in food items exclusive of pork, alcohol and tobacco.

Furthermore, total imports on machinery and mechanical appliances (electrical) stood at MVR517 million.

Meanwhile, top export component from Maldives for the review period was skipjack or stripe-bellied bonito (frozen).

During the review period, total export on said item stood at MVR51 million.

Additionally, export on yellowfin tuna (frozen) stood at MVR35 million, making it the second most exported item.

Top importers to Maldives include UAE (MVR444 million worth), India (MVR411 million), Oman (MVR370 million).

Other top importers to Maldives include Singapore with 11% of total imports coming from the destination and China with 7%.

As for exports, top export destination from Maldives include Thailand, India along with UK, USA and Germany.