Maldivian Imports Surge to USD 356 Million in May

The Maldives saw a significant increase in import spending during May, with the total value of imported goods reaching USD 356.8 million. This marks a notable rise from the USD 305 million recorded in April, according to the latest statistics released by the Maldives Customs Service. Fuel and food dominated the import landscape last month. Oil and gas products were the highest expenditure, totaling USD 90.8 million, while food imports followed at USD 61.5 million. Machinery and miscellaneous goods also played a substantial role in the trade balance, accounting for USD 59.4 million of the total. In terms of trade partners, Oman emerged as the primary source of imports, providing goods worth USD 71.3 million. China and India followed closely, with imports valued at USD 51.6 million and USD 48.6 million, respectively. On the revenue side, the government generated approximately USD 20.9 million from import and export-related duties and taxes throughout May. Export activity remained modest compared to imports, with total exports for the month standing at USD 6.36 million. The United Kingdom was the top destination for Maldivian exports, receiving goods worth USD 2.33 million. Thailand followed closely with USD 2.27 million, while France received exports valued at USD 389,000.