Exports spike by 118 percent in June

Customs building in the capital Male. MIHAARU PHOTO/NISHAN ALI

Customs building in the capital Male. MIHAARU PHOTO/NISHAN ALI

Exports to the Maldives spiked by 118 percent in the month of June compared to the previous year, announced Maldives Customs Service.

In a statement released Sunday, Customs stated that goods worth MVR 446 million were exported in June this year. Exports recorded in June 2016 amounted to MVR 204 million.

The highest exports were from fish products with the bulk (67 percent) exported to Thailand.

According to Customs, imports also increased last month with a record of MVR 2.9 billion. The amount is a seven percent increase from last year which recorded goods worth MVR 2.7 billion imported in June.

The bulk of imports were from the UAE, followed by China and Singapore, and India.

Statistics also show that Customs’ revenue via import duty and other fees also went up by 11 percent compared to 2016. The monthly government revenue was MVR 210 million last month while the number was at MVR 189 million in the same period last year.

Customs’ statistics indicate that the Maldives’ exports are on a daily incline.

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