Foreign exchange revenue surges by $222m in 2022
According to MIRA data, foreign exchange earnings stood at $889.10 million in 2022.
Top Stories
Foreign currency revenue surged by $222.4 million last year, according to data from the state's tax agency, MIRA.
According to MIRA data, foreign exchange earnings stood at $889.10 million in 2022.
-
It is an increase of $222.4 million or 42% over 2021
-
received $626.2 million in 2021
Most of the dollar revenue came from T-GST or GST charged on the tourism sector. A total of $430.6 million was received as T-GST revenue in 2022.
Other dollar revenue contributors include:
-
Extension of lease period of resorts - $127.5 million
-
Resort rent - $125.2 million
-
Green tax - $63.5 million
-
Departure tax - $51.4 million
Foreign exchange earnings improved after tourist arrivals improved last year. Last year, almost the same number of tourists arrived in the Maldives as before the Covid-19 pandemic.
Last year, the state earned a total of MVR 22 billion in revenue through MIRA. This was MVR 6.3 billion more than the previous year.
