Recent data from the Maldives Customs Service revealed that China topped the list as the biggest importer of goods into the Maldives in December 2023. The numbers show a total import value of MVR 5.1 billion for the month, with China contributing MVR 782 million to this total.
On the flip side, Thailand emerged as the primary destination for Maldivian exports during the same period, accounting for a significant 66% of the total exports from the Maldives.
Taking a closer look at the import data, after China, the countries making substantial contributions to Maldivian imports were Oman (MVR 768 million), Singapore (MVR 731 million), India (MVR 683 million), and the United Arab Emirates (UAE) with MVR 591 million. This diverse set of import sources highlights the extensive global trade connections of the Maldives.
In the realm of exports, the United Kingdom and Germany closely followed Thailand, constituting 9% and 7% of exports, respectively. Switzerland and France each represented 3% of the exports, indicating a well-distributed European market presence for Maldivian goods.
When comparing month-on-month trends, November’s imports stood at MVR 4.3 billion, reflecting a 9% decrease compared to the same period last year. On the export side, December witnessed Maldivian exports valued at MVR 250 million, up from MVR 216 million in November, indicating a rise of MVR 34 million. However, it’s essential to note that despite this monthly increase, there was a 9% decrease in exports when compared to the previous year, based on the data.
The figures from the Maldives Customs Service point to shifting trade patterns in the region. China’s position as a major importer reflects its growing economic influence, while the prominence of Thailand in Maldivian exports underscores the strategic trade relationships within Asia.
