Steady Rise in Import Value: Maldives sees 27% Increase in December 2022

0
22

The Maldives Customs Service (MCS) has reported a significant surge in imports during December 2022, with the value of goods imported increasing by 27% when compared to the same period in 2021. According to the statistics provided by the MCS, the Maldives imported goods worth USD 363 million in December 2022, which is a substantial increase from the USD 285 million received during the same period the previous year. The major contributors to these imports were France, Oman, India, Singapore, and China, with USD 49.7 million, USD 48.89 million, USD 46.95 million, USD 45 million, and USD 34.5 million worth of goods imported from these countries respectively. The most imported goods were oil products, food products, machinery, and electrical equipment.

In addition to the increase in imports, the Maldives also saw a growth in exports during December 2022. The Maldives exported goods worth USD 14 million in December 2021, which saw a 35% increase when compared to the USD 19 million during the same period in 2022. The major destinations for these exports were Thailand, Germany, the United Kingdom, the United States, and France, with 66% of exports going to Thailand, 7% to Germany, and 5% to the UK. The most exported items were various frozen fish products.

However, despite the growth in imports and exports, the Maldives’ revenue for December 2022 decreased by 2%, with USD 23.6 million received in December 2021, compared to USD 23 million received in December 2022.