The state collected USD 19.52 million in trade revenues in December 2024, Maldives Customs Service has reported. This amount signifies a 6.5% decrease from the USD 21.53 million accrued during the corresponding period in the previous year.
Despite the decline in revenue, statistical data reveals an uptick in imports to the Maldives for December 2024, compared to the same month in the previous year. In December 2023, imports stood at USD 330.15 million, increasing to USD 376.29 million in December 2024. This 13.7% rise highlights the intensified import activity during the reviewed period.
In December 2024, the Maldives' principal sources of imports were the United Arab Emirates (UAE), Singapore, China, India, and Malaysia. The bulk of these imports consisted of food and other consumables, fuel, machinery, and electronics.
More specifically, imports from the UAE amounted to USD 95.95 million, while those from Singapore totalled USD 59.99 million. Imports from China, India, and Malaysia were valued at USD 54.87 million, USD 43.76 million, and USD 30.61 million, respectively.
In contrast, the Maldives witnessed a substantial decline in export revenues. In December 2023, the state's exports were valued at USD 16.21 million. However, this figure dropped sharply to USD 7.52 million in December 2024.
The primary export destinations for the Maldives in December 2024 were the United Kingdom (UK), Thailand, Vietnam, Germany, and Japan. Notably, the Maldives exported goods worth USD 2.72 million to the UK and USD 1.42 million to Thailand. Exports to Vietnam were valued at USD 842,498.70, while those to Germany and Japan amounted to USD 648,824.52 and USD 324,412.26, respectively.
During this period, the Maldives' chief export commodity was fishery sector products, with canned skipjack tuna leading the exports at a value of USD 3.11 million.