Foreign trade figures released by the Maldives Monetary Authority (MMA) indicate strong export growth in the first quarter of 2025, with total exports reaching USD 34.3 million, an increase of over 22% compared to USD 28.1 million during the same period in 2024. The impressive growth has been primarily attributed to the country’s robust fishing industry, which continues to play a pivotal role in Maldives’ export economy.
According to MMA’s monthly economic update, fish products remained the dominant export category, accounting for the entirety of Q1 exports. A total of 21,599 metric tonnes of fish were exported between January and March 2025, marking a 51% rise from the 14,259 metric tonnes exported during the first quarter of the previous year.
Frozen fish exports led the surge, with 19,674 metric tonnes shipped in Q1 2025. This reflects a 64.9% increase from the 11,939 metric tonnes exported in the same period last year. This growth highlights rising international demand and improved efficiency within the fishing and export sectors.
Despite the overall increase, there was a decline in canned and pouched fish exports. The volume fell by 29.2%, from 1,882 metric tonnes in Q1 2024 to 1,333 metric tonnes this year. Analysts suggest this could be due to shifts in market preferences or production focus on fresh and frozen varieties.
The steady rise in export volumes has coincided with an increase in active fishing vessels across the country. As reported by the state-owned Maldives Industrial Fisheries Company Limited (MIFCO), the number of fishing boats delivering their catch has grown in recent weeks. In the past week alone, 378 vessels supplied their catch to MIFCO, compared to 361 boats the previous week—an encouraging indicator of the sector’s momentum.
With the fishing industry contributing substantially to foreign revenue, these export figures reinforce the Maldives’ reputation not only as a world-class travel destination but also as a key player in sustainable fisheries. The continued strengthening of the fisheries sector is expected to support national economic recovery and bolster investor confidence in the Maldives’ blue economy.
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