Maldives Customs Service (MCS) has reported a significant increase in imported goods and a 104% rise in import/export duty revenue in May compared to the same month last year. Statistics from the MCS show the number of exports has increased and the number of imports to the Maldives has doubled in May.
The statistics show the Maldives received USD 207 million in imported goods in May 2021, which is an increase of 105% compared to the USD 104 million received in imported goods in May 2020. In May 2021, the Maldives received food items worth USD 40 million, fuel worth USD 37 million, and machinery and mechanical and electrical appliances worth USD 36 million.
Around 15% of the goods were imported from India, while 14% were imported from Oman, and 12% were imported from the UAE. Due to the rise in the number of imported goods, the Maldives has received USD 15 million in revenue in May this year, which is a significant increase compared to the USD 7.6 million received in May of last year.
Furthermore, the statistics also show an increase in exports in May this year compared to the same month last year. Maldives exported USD 26 million in goods in May 2021, which is an increase of 91% compared to the USD 11 million in goods exported in May 2020. The majority of exports were frozen fish products, including frozen skipjack or stripe-bellied bonitos worth USD 14 million, and frozen yellowfin tuna worth USD 1.7 million.
Around 80% of products from the Maldives were exported to Thailand, while 5% were exported to Germany, and 4% were exported to the United Kingdom.