No progress for exports to China in February as well
MVR 968 million has been spent on importing food items
MPL cargo area
Statistics did not show any improvement in exports from the Maldives to China during the past month of February.
While the Maldives imposes zero duty on many goods imported from China under a Free Trade Agreement (FTA), the incumbent administration of President Dr. Mohamed Muizzu has disclosed that the total value of products exported from the Maldives to China is expected to increase as China begins to impose zero duty on products exported from the Maldives. Although the agreement came into effect from the first day of January, it is noted that so far no improvement has been seen for Maldivian products in the Chinese market.
Thailand remained the top export destination for Maldivian products in February as well. Fish products worth MVR 134 million were exported there. This accounts for 60 percent of total exports. The United Kingdom was the second highest source of export revenue. Fish products worth MVR 33 million were exported to the UK. This is 15 percent of exports. Fish products worth MVR 10 million were exported to India and products worth MVR eight million to Vietnam. Products worth MVR six million have been exported to Bangladesh.
China was among the top three countries in terms of imports to the Maldives in February. Goods worth MVR 606 million have been imported to the Maldives from China. The United Arab Emirates was the highest in terms of value of goods imported. Goods worth MVR 1,342 million have been imported from the middle-eastern nation. While goods worth MVR 748 million have been imported from India, the top five countries from which goods were imported in February are UAE, India, China, Singapore, and Sri Lanka.
According to statistics released by the Maldives Customs Service (MPS), the largest expenditure on goods imported to the Maldives in February was on food items.
MVR 968 million has been spent on importing food items.
The main exports from the Maldives in February were fish products. As such, frozen skipjack tuna worth MVR 114 million has been exported from the Maldives. Yellowfin tuna worth MVR 32 million was exported from the Maldives in February.
The state received MVR 363 million from import-export duties in February.
In the past February, goods worth MVR 4.4 billion were imported to the Maldives while goods worth MVR 223 million were exported.
