Business

Maldives records an increase in imports, exports and tariffs.

The Maldives has recorded an increase in imports, exports as well as tariffs in July 2018.

According to Maldives Customs Services, MVR 4.1 billion worth of goods were imported to the Maldives, which is a 38 per cent increase from previous July’s imports which amounted to MVR 2.6 billion worth of goods.

United Arab Emirates (UAE) accounted to a mass of 19 per cent of the total amount of goods imported. This is the largest percentage belonging to one country, followed by China which accounted for 18 per cent whereas Singapore followed third with 14 per cent.

Reports also indicated an 11 per cent increase in import tariff compared to that of July 2017. Whilst the total amount of tariff in July 2018 was MVR 282 million, 2017 recorded MVR 254 million during the same period.

There has also been a notable increase in export tariff. July 2018 noted MVR 263 million whereas July 2017 amounted to MVR 203 million in export tariff. This is a 30 per cent increase within one year.

The Maldives mostly exports fish products, with the highest number of exports being made to Thailand, while 19 per cent of the exports were made to the United Kingdom, 16 per cent to Germany and 9 per cent to the United States.

Full details are available at the link below:

Source URL: Corporate Maldives

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