Imports up 4%, revenues decline 30%

Maldives Customs Service reports a 4% increase in total imports, inclusive of fuel, for the month of February 2024.

The total imports, including fuel, stood at MVR 4.4 billion, while imports excluding fuel stood at MVR 3.4 billion.

While import commodities saw a mild overall increment, exports from the Maldives saw a notable 18% decline in the month, registering just MVR 191 million worth of export commodities. In the corresponding month last year, Maldives exported MVR 232 million worth commodities.

Additionally, customs revenue saw a significant 30% decline in February 2024, registering MVR 208 million compared to the MVR 297 million registered in the corresponding month in 2023.

Major Import Categories

• Fuel: MVR 964 million
• Food Items (excluding pork, alcohol, tobacco): MVR 951 million
• Machinery and mechanical appliances: MVR 893 million
• Base metal and its parts: MVR 282 million
• Chemical products: MVR 223 million

Major Importers

• Oman: MVR 657 million
• India: MVR 606 million
• UAE: MVR 579 million
• China: MVR 578 million
• Singapore: MVR 403 million

Major Export Commodities

• Frozen skipjack tuna: MVR 82 million
• Skipjack tuna (prepared/preserved): MVR 55 million
• Yellowfin tuna (frozen): MVR 8 million
• Flours, meals and fish pellets (unfit for human consumption): MVR 8 million
• Yellowfin tuna chunk: MVR 5 million

Major Export Destinations

• Thailand: MVR 95 million
• Great Britain: MVR 30 million
• Germany: MVR 25 million
• Bangladesh: MVR 7 million
• France: MVR 5 million

During the review month, Customs reported 137 vessel arrivals and 160 departures.