MVR 3 billion reported as import revenue in April 2021

Photo: Maldives Ports Limited

Malé, Maldives – Maldives Customs Service states that there has been an increase of 67 percent in import revenue for April 2021 compared to the same period of last year.

According to the monthly statistics published by Maldives Customs Service, the import revenue increased from MVR 1.8 billion in April 2020 to MVR 3 billion in April 2021 which is an increase of 67 percent. In addition to this, the profit received by the state also increased from MVR 129 million in April 2020 to MVR 261 million in April 2021 which is an increase of 101 percent. The export revenue however, decreased by 27 percent from MVR 237 million to MVR 174 million.

The category for the highest number of imports was food items excluding pork, alcohol and tobacco which amounted to a total of MVR 779 million. The second largest category was fuel amounting to MVR 402 million and products of the chemical or allied industry follows with MVR 235 million.

The major importing countries to Maldives include UAE with 444 milllion (15%), India with 411M (14%), Oman with 370M (13%), Singapore with 314M (11%) and China with 207M (7%).

Furthermore, the vessel movement has also increased for April 2021 compared to the same time of last year. Arrival of vessels increased from 62 in 2020 to 115 in April 2021 while departed vessels increased from 84 in 2020 to 132 in 2021. Additionally, the total number of declarations processed also increased from 4465 in 2020 to 16,476 in 2021.