Imports up by 22 percent in 2014, exports down by 12 percent
14 Jan 2015, 5:23 PM
Minivan News
Imports rose by 22 percent in 2014, while exports dropped by 12 percent, the Maldives Customs Service has revealed.
According to a statement from customs today, imported goods in 2014 amounted to MVR30.7 billion (US$1.99 billion), resulting in duties of MVR1.96 billion – a 15 percent rise compared to 2013.
The decline in exports saw the total value of goods leaving the Maldives in 2014 valued at MVR2.24 billion, compared with MVR2.56 billion in 2013.
The latest balance of payments figures from the Maldives Monetary Authority show the current account deficit was US$290 million in 2014 – equivalent to 10 percent of GDP, though the central bank estimates that this will drop to 6 percent of GDP in 2015.
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