Maldives Customs Service has released the statistical data for September 2020. In the data released, Customs revealed that both Import and exports had drastically dropped compared to the same period last year. According to the data, total imports to the Maldives was valued at MVR 1.9 billion which is 50% lower compared to September 2019. Experts was valued at MVR199 million, which is 37% lower compared to the same period last year.
Customs also revealed that the duty received from imports and exports was MVR 119 million in September 2020 against MVR189 million received in September 2019. The 59% drop in revenue was attributed to the economic recession the country has been experiencing since mid-2019.
While the majority of the imports last month were mechanical and electrical appliances, food products excluding tobacco, pork and alcohol accounted for MVR324 million. According to the Maldives Customs Service, the most number of goods imported from a single country was China, with MVR342 million worth goods imported from China in September 2019. It was also recorded that the number of declarations processed by the Customs service had dropped by 18,351 compared to 2019.