Import and export ratio increased during the month of October 2019.
According to Maldives Customs Services, goods imported bumped by 10% while exported goods improved by 16%.
As per figures, import goods were valued at MVR4.2 billion in review month while the value of import goods were observed at MVR3.8 million in corresponding month the previous year.
This in turn brought a positive effect to state revenue collected through import duties.
In accordance to hike in import duties, revenue to state in October 2019 was observed at MVR288 million, while in 2018 it was at MVR287 million – giving a 0.37% push in current year.
Top import destinations to Maldives include China, United Arab Emirates and Singapore.
China imports reached MVR744 million, UAE imports were valued at MVR743 million while Singapore imports at MVR557 million.