Revenue generated from export and import falls by 66%

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Malé, Maldives — The revenue generated from export and import trade has fallen by 66 percent, according to Maldives Customs Service.

According to the statistics published by Customs, during the month of August on 2019, the state had received MVR 297 million. However, there has been a decline of 66 percent recorded during the same period of 2020, having generated only MVR 102 million as revenue from import and export trade.

Compared to the same period of last year, a drop of 35 percent in imports were seen in the figures. While goods worth MVR 3.3 million was imported in August 2019, only MVR 2.1 million was recorded in imports of August this year.

Furthermore, the statistics also showed that there has been a 2 percent drop in value of exports. While only MVR 256 million was generated as revenue from exports in August 2019, the value has decreased to 251 million this August.

According to Customs, majority of the goods that were imported to Maldives were from China, India and Singapore. While goods worth MVR 429 million were imported from China, MVR 293 million were imported from India. Goods worth MVR 254 million were imported from Singapore.