Business

China becomes top importer to Maldives in March

Asian economic powerhouse China is the top importer to the Maldives according to March 2018 data collected through local authorities.

Maldives Customs statistical data indicates the CIF (Cost Insurance Freight) value has upped by 48% on goods imported during the month of March.

Records indicate that the goods imported to the Maldives during the month of March in 2017 reached a currency worth of MVR 3.03 billion whereas it had hiked to MVR 4.49 billion during the same period in 2018.

According to data collected over 28% of the valued imported goods originated from China while the second highest imported has been United Arab Emirates (UAE) contributing a 15% share in imports. Neighboring India rested in the third spot with a total contribution worth of 11% of total goods imported during the said month.

Maldives Customs also confirmed the revenue generated through various fees and levied taxes had increased by 60% in March 2018 compared to the same period of last year; the government collected MVR 277.7 million in taxes and other charges for goods imported this year while the income generated last year reached MVR 173.4 million.

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Source URL: Google News

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