Maldives has recorded an increase in exports from last year, ending the first quarter of 2025 with USD 34 million worth of exports, central bank figures have shown.
According to the Maldives Monetary Authority (MMA) monthly report, exports were dominated by fish products, posting a total of USD 34.3 million in the first three months of the year. Exports during the same period last year stood at USD 28.1 million.
Exports of all major fish products increased compared to the first three months of last year. Maldives exported 21,599 metric tonnes of fish in the first three months of this year in comparison to the 14,259 metric tonnes during the same period last year, registering a 51 percent increase.
The figures showed that Maldives exported 19,674 metric tonnes of frozen fish products during the period, which is an increase of 64.9 percent compared to 11,939 metric tonnes exported during the same period last year.
However, the volume of canned and pouched fish exports has declined. Exports in the first three months of this year stood at 1,333 metric tonnes. Last year, the figure stood at 1,882 metric tonnes which is a 29.2 percent decrease.
The increase in exports has coincided with the evident improvement of the country’s fishing industry. According to State owned Maldives Industrial Fisheries Company Limited (MIFCO), the number of fishing vessels heading out to sea continues to increase. Last week, 378 fishing boats had sold their catch to MIFCO, compared to the 361 in the previous week.