Prices of imported goods increased 16 percent in April
Goods worth MVR 3.25 billion were imported to Maldives in April last year
Customs clearance at Maldives Ports Limited
The Cost, Insurance and Freight (CIF) price of goods imported to Maldives in April this year was 16% higher than the CIF price in April 2017, the Maldives Customs Service has said.
While goods worth MVR 3.25 billion were imported to Maldives in April last year, the amount has increased to MVR 3.77 billion this year. United Arab Emirates (UAE) imported 21% of the said goods, Singapore imported 13% and China imported 12%.
The income generated through import duty and other fees by Maldives Customs Service in April this year was 31% higher than the amount generated in April 2017. Therefore while the income generated in April last year amounted to MVR 200 million, the government received MVR 262 million under import duty and other such fees in April this year.
Similarly, Maldivian exports increased by 77% in April this year in comparison to last year. As Maldives exported goods worth MVR 208 in April 2017, the number has increased to MVR 368 million this April.
Maldives generally export fish products. While 50% of the products were exported to Thailand this April, 8% was exported to Germany and 7% to the UK and America, and 6% of the products were exported to France.
