CIF prices for imports for the month of May had dipped by 10 percent, compared to that of the same period for last year.
Customs statistics show that last year MVR 2.63 billion was imported. This year the figure stands at MVR 2.36 billion.
Customs reported that this is in part attributed to the lower prices and lower imports of oil for the country. However, Customs said that the trade of other goods had increased for this period.
FOB prices of exports had dipped by 12 percent in the same period. As such this May, MVR 213.3 million worth of goods was exported. Last year this figure was at MVR 241.3 million.
Customs stated that the exports of chilled tuna had decreased by 50 percent this May, compared to last year May.
Customs had earned MVR 147 million last year as import duty and other fees. This year Customs earned MVR 152 million, which is a three percent increase in earnings.
Imports, exports for May dips
