Total exports (f.o.b) increased significantly by 36% in September 2022, when compared with the same month in 2021.
On the other hand, total imports (c.i.f) increased by 27% during the same period, reports Maldives Monetary Authority (MMA). In monthly terms, exports and imports dropped by 12% and 9% in September 2022, respectively.
The annual growth in total exports stemmed out mainly from a significant increment in re-exports, primarily that of jet fuel re-exports. However, domestic exports dipped during the month largely due to the drop in earnings from fresh or chilled yellowfin tuna and frozen yellowfin tuna exports, as well as earnings from canned or pouched tuna.
Meanwhile, there was a significant increment in frozen skipjack tuna exports during the month.
Imports rose annually owing to significant surge in construction-related items. Moreover, imports of petroleum products, food items, plastics and articles of plastics, electronic and electrical appliances observed increase in the review month. However, imports in transport equipment and parts, machinery and mechanical appliances and parts, furniture, fixture and fittings saw noticeable decline in September 2022.
Overall, for the period from January up to September 2022, both total exports and imports increased by 42% and 45% respectively, when compared with the corresponding period in 2021.