Exports see y-o-y decline for 5 consecutive months
According to the latest data released on Monday, the value of goods exported from the country last month stood at MVR 168 million.
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Maldives Customs Service has revealed that the country's exports declined last month. With this, exports have fallen for five consecutive months year-over-year.
According to the latest data released on Monday, the value of goods exported from the country last month stood at MVR 168 million. This is 5% lower than the same period last year.
Every month since July, there has been a decline in the volume of goods exported as compared to the same month last year.
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July - 52% lower
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August - 53% lower
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September - 4% lower
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October – 15% lower
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November – 5% lower
While the country mainly exports fish, there has been a sharp decline in fish exports in the last five months.
Imports and revenue surge
Despite the decline in exports, there has been an increase in the number of goods imported into the country and the state's revenue surged last month.
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Imported goods valued at MVR 4.6 billion; 15% more than the same period last year
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The state earned MVR 359 million; that is an increase of 11%
The top three items imported into the country last month:
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Oil - MVR 1 billion
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Food items excluding tobacco, pork and alcohol – MVR 816 million
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Machinery and mechanical appliances - MVR 748 million
