Import/ Exports drop by 12% in January 2021

Maldives Ports Limited (MPL)'s commercial harbor in Male' City seen from above | Photo: MPL

Malé, Maldives — Statistics published by the Maldives Customs Service has revealed that a decline of 12 percent in Import/Export was seen in January 2021 compared to the same period of last year.

The statistics show a decrease of MVR 316 (25%) in the value of goods that was exported during January 2021 compared to the same period of last year.

The most exported good from Maldives was frozen Skipjack or Stripe-bellied Bonito at MVR 55 million. The second most exported commodity was prepared and preserved Skipjack at MVR 30 million.

The remaining major exported commodities in January 2021 were frozen Yellowfin Tuna, fresh and chilled Yellowfin Tuna and Yellowfin Tuna Loins with an accumulated total of MVR 53 Million.

According to Customs, Thailand tops the top five exporting countries of Maldives taking over 32% of the exports providing an income of upto MVR 59 million in January 2021. Following Thailand is Germany, with Maldives exporting 10% of Maldivian goods to the country at a total of MVR 19 million. The remaining three countries in the top five exported countries are Great Britain (8%, 15M), United States (7%, 12M) and the neighboring country, India (6%, 12M).

In addition, Customs Office has also informed that there has been a decline of 24% in the value of goods that were imported during January 2021.

The latest statement revealed by the Customs showed that including the import of fuel, there has been a decline of 24% in the goods that were imported in the first month of 2021. Customs noted that excluding fuel, there is a 25% decline in the imports in January 2021.

Customs reported that out of the total MVR 2.9 billion spent on imports, MVR 658 million was spent on food items. However, this food category does not include pork, alcohol and tobacco that was imported into Maldives. Customs informed that MVR 36 million worth of tobacco, alcohol and pork were imported Maldives during January and MVR 36 million worth cigarettes were imported.

MVR 483 million was on importing fuel such as diesel, petrol and aviation gas, making them the second highest imported goods into the Maldives in January 2021.

Machinery and mechanical appliances such as electrical equipment were the third highest good that was imported to Maldives during January, having imported MVR 477 million worth machinery to Maldives.