Exports decrease by 53 percent in August due to low fishing season

Goods exported by the Maldives this August decreased by 53 percent compared to August of last year.

Statistics publicized by Maldives Customs Service shows that Maldives exported MVR 115 million worth goods this August. in August of last year, Maldives exported goods worth MVR 247 million.

Starting July, Maldives had experienced a low fishing season due to extreme weather, as a result of which exports had decreased significantly – fish being the main exporting product from the island nation. In July, Maldives exported MVR 78 million worth goods – making MVR 247 million worth goods exported in August a 47 percent increase.

Exports to Thailand, a top exporting countries to the Maldives usually, had significantly decreased starting this June. Goods worth MVR 148 million were exported to Thailand in June, which is 60 percent of the total goods exported that month. However, Thailand was not included in the top exporting countries for Maldives in the last two months.

TOP EXPORTING COUNTRIES IN AUGUST:

Germany: MVR 17 million (24 percent)

Mauritius: MVR 23 million (20 percent)

UK: MVR 19 million (17 percent)

Bangladesh: MVR 10 million (8 percent)

India: MVR 7 million (6 percent)

Whilst exports decreased in August – the revenue earned to state from imports and exports had increased by 36 percent compared to the same period last year. Imports had increased by 48 percent compared to the same period last year. Customs earned MVR 25 million in royalties in August.