Maldives Custom Service reported a significant increase in import and export of Maldives in May 2022 compared to May 2021.
Maldives exported MVR 194 million in commodities during the month of May 2022 making a 40% increase compared to this period last year.
MVR 113 million in frozen skipjack, MVR 54 million in prepared or preserved skipjack tuna, MVR 15 million in yellowfin tuna, MVR 6 million waste and scrap of alloy and MVR 6 million in flours, pallets of fishes were the major commodities exported last month.
Main exported countries are:
With Maldives import and export increased, Customs also reported imports worth MVR 3.4 billion in commodities during the month of May 2022 making a 52% increase compared to the same period last year.
The major category of import include MVR 869 million in food excluding alcohol, tobacco and pork, MVR 797 million in machinery, electrical and mechanical appliance, MVR 278 millions in base metal and products of base metal, 272 millions in chemical allied industry, MVR 146 millions in rubber and articles, MVR 129 million in Vehicles and vehicle parts, MVR123 million in wood and wood products, MVR 118 million of aircraft and aircraft parts and MVR 29 million of tobacco, pork and alcohol.
Main Imported countries are:
Customs further recorded a revenue of MVR 300 million was received last month which is a 26% increase from the same period last year.
Russia-Ukraine conflict have caused an increase in the prices our daily life commodities finance minister last month released a circular to government organizations to limit their expenditure due to the increase in prices. The circular says that swift actions are needed to mitigate the impact. Minister also assured last month that the Maldives has enough usable reserves to purchase necessities such as staples, fuel and medical supplies for five months.