Import Duty Revenue increases by 59% in June 2021

Malé harbour | Photo: The Press

Malé, Maldives — Maldives Customs Service has revealed that Maldives has recorded an increase of 59% in the Import/Export duty in June 2021.

The latest statistics revealed by the Customs shows an increase of 59% in the Import/Export duty in June 2021. This is MVR 247 million.

According to the statistics, including the import of fuel, there has been an increase of 44% (MVR 3 billion) in the goods that were imported in June 2021. Customs noted that excluding fuel, there is an increase of 22% (MVR 2.5 billion) in the imports recorded in June 2021.

Customs reported that out of the total MVR 3 billion spent on imports, MVR 586 million was spent on importing machinery and mechanical appliances, making them the highest imported goods into the Maldives in June 2021.

The second highest imported good category was fuels at MVR 555 million. These fuels included marine gas oil (diesel), petrol and aviation gas as well.

Foods were the third-highest category to be imported into the Maldives in June 2021 with MVR 545 million worth of goods. However, this food category does not include pork, alcohol and tobacco that was imported into Maldives. Customs informed that MVR 20 million worth of tobacco, alcohol and pork were imported Maldives during December while MVR 16 million worth of cigarettes were imported. 

On the other hand, out of the MVR 228 million worth of goods that were exported from Maldives, a total of MVR 60 million was frozen Skipjack or Stripe-bellied Bonito, making it the top exported good. The second most exported commodity was prepared and preserved Skipjack at MVR 35 million, followed by frozen Yellowfin Tuna, fresh and chilled Yellowfin Tuna and Yellowfin Tuna Loins with an accumulated total of MVR 30 million.

According to Customs, Thailand tops the top five exporting countries of Maldives taking over 30% of the exports providing an income of up to MVR 46 million in June 2021. Following Thailand is Germany, and Japan with Maldives exporting 12% of goods to both countries, however receiving a total of MVR 24 million from Germany and MVR 26 million from Japan. The remaining two countries in the top five exported countries are Great Britain (6%, 10M) and Switzerland (5%, 7M).