Maldives exports see significant fall
Decline in Maldivian exports was mainly due to the decline in fishing in the last few months and the disruptions in global shipping.
By
Ahmed Naaif
Exports from Maldives has decreased significantly for two consecutive months, figures have shown.
Statistics published by Customs on Thursday show:
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Exports decreased by 53% year-on-year last month
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Exports fell 52% year-on-year in July
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Goods worth MVR 115 million were exported from Maldives last month.
The Maldives mainly exports fish and fish products.
Value of exports in August:
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Skipjack tuna (fresh) - MVR 48 million
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Skipjack tuna (frozen) - MVR 29 million
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Fish products - MVR 8 million
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Yellowfin tuna - MVR 12 million
Top export markets in August:
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Germany - 24%; MVR 27 million
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Mauritius - 20%; MVR 23 million
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UK - 17%; MVR 19 million
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Bangladesh - 8%; MVR 10 million
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India - 6%; MVR 7 million
Some noted that the decline in Maldivian exports was mainly due to the decline in fishing in the last few months and the disruptions in global shipping caused by the Ukraine-Russia war.
Imports rise
Customs statistics show that imports increased by 48% year-on-year in August, with goods worth MVR 4.8 billion being imported to the Maldives last month. Imports excluding oil accounted for MVR 3.6 billion.
Value of imports in August:
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Oil - MVR 1.2 billion
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Machinery and electric items - MVR 847 million
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Food - MVR 801 million
Top import markets in August:
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Oman: 22%
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India: 15%
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China: 11%
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UAE: 10%
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Singapore: 8%
Customs revenue has also improved due to the increase in imports. Customs revenue increased by 36% to MVR 391 million.
