State revenue from imports, exports recorded at MVR 288 million in August
CIF pricing of imports this year has risen by 63 percent
Customs Statistics for the month of August show that revenue increased by 182 percent
The state revenue for imports and exports for the month of August was recorded at MVR 288 million.
According to the statistics released by the Maldives Customs Service for the month of August, the CIF pricing of imports rose by 63 percent compared to the same period in 2020.
While MVR 2.1 billion worth of goods were imported in August 2020, this figure spiked to MVR 3.5 billion during August 2021.
The data also shows that the FOB pricing of exported goods had also decreased by 60 percent this August compared to August 2020. The FOB value of exports in August 2020 was MVR 675 million whereas it decreased to MVR 270 million this August.
The customs also states that while the FOB of imports may have decreased, compared to August 2020, the total state revenue increased by 182 percent. In August 2020, the revenue made was at MVR 102 million, whereas the same month in 2021 yielded MVR 288 million from imports and exports.
In the last month, most goods were imported from China, India and the United Arab Emirates (UAE) while most goods were exported to Thailand, Germany and the United Kingdom.
In addition, the value of processed declarations to Maldives has risen from 9,111 in August 2020 to 16,248 this August.
In the previous year, clearance was given to 146 vehicles from abroad while the amount decreased to 111 this year. However, compared to August last year, and August this year, the amount of vehicles given clearance to go abroad remained the same, at 168.
