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Maldives’ Export Drops by 43% in September 2023

Maldives’ Export Drops by 43% in September 2023

The Maldives Customs Service has released statistics for September 2023. The standout detail: a staggering 43% drop in exports, while imports and customs revenue surged by an equal 3%.

Delving into the data, in September 2022, the nation earned MVR 350 million from imports and exports, a figure that rose to MVR 360 million in September 2023.

Yet, amidst this revenue growth, the Maldives witnessed a noteworthy change in the value of imports and exports. Imports in September 2023 amounted to MVR 4.3 billion, a 3% decline from the MVR 4.4 billion recorded in September 2022. Most notably, exports saw a steep 43% decrease, plummeting to MVR 86 million in September 2023 from MVR 149 million in September 2022.

Leading the charge in imports for September 2023 were Oman, India, the UAE, China, and Singapore. Oman topped the list with goods valued at MVR 883 million, followed by India with MVR 681 million, the UAE with MVR 500 million, and both China and Singapore at MVR 406 million each.

Turning the spotlight to exports, the Maldives primarily shipped goods to Thailand, the UK, France, India, and Germany in September.

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Ship movements also exhibited a noteworthy shift. The number of vessels arriving in the Maldives in September 2023 increased to 103, up from 88 in September 2022. Similarly, 105 ships departed the Maldives in September 2023, marking an increase from 92 in September 2022.

MMJ News Desk
Author: MMJ News Desk

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