According to the statistics released by Maldives Customs Service, the CIF value of goods imported during August 2018 has increased by 33 percent compared to August 2017.
Approximately MVR 4.1 billion worth of goods were imported in 2018 where as the value was at MVR 3.16 billion last year. Most number of goods was imported from China which amounts to 19 percent of the total imported goods, followed by United Arab Emirates at 18 percent. The most number of imports then came from Singapore.
However, the FOB value of goods exported had decreased significantly by 18 percent for the same period. This is a decrease from MVR 315 million in August 2017 to MVR 259 million in August 2018. Largest quantities of goods were exported to Germany which amounts to 20percent of the total exports for the month of August.
Regardless, the total revenue collected by Customs via duty and other fees for the same period has increased by 14%. This is total revenue of MVR 280 million in August 2018.