Exports fall last month; imports, earnings rise
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By
Ahmed Mizyal
Despite an increase in imports, exports fell again last month, Customs figures showed Thursday.
According to Customs data:
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Imports: 27% increase year over year
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Exports: 4% lower year over year
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Customs revenue: 25% increase year over year
While exports declined last month, the pace at which it declined was lower than July and August when exports fell sharply.
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August exports: 53% decline
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July exports: 52% decline
September import/export data
Imports:
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September 2021 - Goods worth MVR 3.5 billion
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Last month - Goods worth MVR 4.4 billion
Exports:
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September 2021 - Goods worth MVR 172 million
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Last month - Goods worth MVR 166 million
Income:
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September 2021 - MVR 281 million
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Last month - MVR 351 million
Top five import markets in September
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Oman – MVR 794 million (18% of imports)
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India - MVR 627 million (14% of imports)
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China – MVR 525 million (12% of imports)
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UAE – MVR 438 million (10% of imports)
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Singapore - MVR 392 million (9% of imports)
Top five export markets in September:
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Thailand – MVR 84 million (51% of exports)
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Germany – MVR 18 million (11% of exports)
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UK – MVR 11 million (7% of exports)
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Spain – MVR 8 million (5% of exports)
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France – MVR 8 million (5% of exports)
