Maldives have registered a decline of 5 percent in total merchandise imports during the first quarter of this year compared to the corresponding quarter of last year.
The total merchandise imports recorded a decrease of 5 percent which is USD 39.9 million during quarter one when compared with the corresponding quarter of 2018, according to the Monthly Economic Bulletin of Maldives Monetary Authority (MMA). During the first quarter of this year, goods worth USD 715 million were imported.
MMA stated the result was largely contributed by a considerable drop in imports of machinery and mechanical parts, construction-related items and petrol during the quarter. Moreover, increases in imports of furniture, fixtures and fittings, food items; and transport equipment and parts, partially curbed the decline in total merchandise imports during the quarter.
Furthermore, MMA said although the amount of imports decreased, the amount if exports increased 41 percent.