Customs data released show that the Maldives exported goods worth USD 6.36 million in May, with fish accounting for the lion’s share of the island nation’s outbound shipments.
The sector was buoyed by a sharp rise in canned tuna shipments, which jumped 22.5 percent compared with April, while the United Kingdom emerged as the top market for Maldivian fish.
In May, the Maldives shipped 38 million cans of canned tuna, up from 31 million in April. In value terms, canned fish exports were USD 2.46 million, making it the largest export category, followed by frozen skipjack tuna at USD 1.75 million and frozen yellowfin tuna at USD 1.17 million. The rise in volume translates to a 22.5 percent increase in export value, reflecting both higher demand and improved processing capacity.
The United Kingdom led the list of buyers, importing USD 2.33 million of Maldivian fish, while Thailand followed closely with USD 2.27 million. Other notable markets included France (USD 390,000), India (USD 320) and Germany (USD 260,000).
To sustain growth, the government has raised the purchase price for fish to USD 1.30 per kg, aiming to incentivise fishermen to increase their catch.
In a separate development, the UK has suspended tariffs on Maldivian fish for two years, a move expected to sharpen the country’s competitive edge in the British market. Currently, the Maldives exports roughly USD 25 million of fish to the UK annually as officials believe the tariff freeze could double that figure within the next two years.