Maldives Customs Service reported a total revenue of MVR 287 million during the month of July.

The total revenue collected through customs duty and other fees and fines during the month of July showed an increase of 2% in comparison to the same period last year.

In addition to this, the CIF value of goods imported during the month of July decreased 9%. Which is a decrease from MVR 4.1 billion in July 2018 to MVR 3.7 billion in July 2019.

The FOB value of goods exported during the month of July also saw a decrease of 16%. The figure stood at MVR 165 million this year, in comparison to MVR 196 million the previous year.

The revenue generated by the state however saw an increase of 2% last July, thanks to decreased imports this July in comparison to the same period of 2018. This translates to a good change for the Maldivian economy. Imports and exports also saw a decrease last June in comparison to the same period of 2018.

Among major importing countries, UAE remained the highest importing country during July. The UAE imported 21% of goods while Singapore contributed to 13%, China 13%, India 11%, Malaysia 8%.

The highest exports from Maldives was to Thailand, which was 18% of total goods. Germany contributed to 15% in addition to France while the UK stood at 13% and Italy in 7%.

Types of fuel contributed to major imports while fresh frozen types of fish were among major sources of export.