Import-Export revenue drops 59% in September

Maldives Customs Service has revealed the revenue generated from import and export during September had dropped 59% compared to the same period last year.

According to monthly statistics released by Maldives Customs Service, Maldives generated only USD 7.72 million from imports and exports this September, compared to USD 18.94 million in September 2019. The statistics revealed Maldives had imported USD 246 million worth of goods in September 2019, while this reduced to USD 123 million this year.

The major importing countries to the Maldives this September were China, India and Singapore with USD 22.3 million, USD 17.8 million and USD 14.1 million worth of goods respectively. As per the statistics, the most frequently imported items to the Maldives include machineries, electronic items, food and oil.

Meanwhile, most of the Maldivian exports in September were to the UK, Germany and France. The three countries share 21, 19 and 17 percent of all goods exported from Maldives respectively. The main export from Maldives to these countries were frozen fish.

Following the significant drop in export and import, the number of declarations processed in September also dropped. While 19,374 declarations were processed in September last year, the number of declarations processed this September was 9,463.

Meanwhile, the number of cargo vessels to and from the Maldives increased from 190 to 208 this September, as compared to September 2019.