In a reflection of strategic economic management and growing international demand, the Maldives has recorded a notable year-on-year increase in exports alongside a shift in trade composition, as reported by the Maldives Customs Service in its latest monthly trade statistics for May 2025.
The country exported goods worth MVR 180 million during May 2025, marking a 28% rise compared to MVR 141 million in May 2024. This export growth was primarily driven by a sharp increase in the global demand for frozen skipjack tuna, one of the Maldives’ key fisheries exports. Revenues from frozen skipjack exports nearly doubled, rising from MVR 55 million in May 2024 to MVR 107 million in May 2025. Exports of preserved skipjack tuna also rose slightly to MVR 41 million, up from MVR 39 million the previous year, highlighting the continued strength of the Maldivian fisheries sector in international markets. However, yellowfin tuna exports, both fresh and frozen, experienced a decline.
Thailand continued to dominate as the Maldives’ largest export destination, further increasing its market share from 48% to 50% of total exports. The value of goods exported to Thailand reached MVR 89 million in May 2025, up from MVR 68 million the previous year. The United Kingdom retained its position as the second-largest export destination, with Maldivian exports rising to MVR 36 million from MVR 31 million, reflecting growing demand for sustainably sourced seafood and other products.
On the import side, the Maldives imported goods worth MVR 4.4 billion in May 2025, showing a slight decrease from MVR 4.5 billion during the same period last year. This overall decline is primarily attributed to a substantial reduction in fuel imports, which dropped from MVR 1.14 billion in May 2024 to MVR 790 million in May 2025. This shift indicates progress in energy diversification efforts and may reflect more efficient fuel consumption practices across the nation.
Conversely, non-fuel imports increased from MVR 3.3 billion to MVR 3.6 billion, with food imports leading the category. The Maldives imported MVR 906 million worth of food items in May 2025, a notable rise from MVR 736 million in May 2024. This increase underscores the growing domestic demand aligned with rising tourism activity and population needs. Imports of machinery and electrical appliances declined to MVR 638 million from MVR 739 million, while the import value of vessels and aircraft parts dropped to MVR 389 million from MVR 459 million.
The United Arab Emirates emerged as the top import partner in May 2025 with imports valued at MVR 908 million, overtaking Oman, which held the leading position in May 2024. India maintained a stable and growing import relationship with the Maldives, with values increasing slightly from MVR 546 million to MVR 577 million. Imports from China remained consistent, while imports from Singapore saw a slight decline from MVR 412 million to MVR 393 million.
Despite changes in trade volumes and composition, customs revenue recorded a slight decrease, falling from MVR 364 million in May 2024 to MVR 351 million in May 2025. Royalties also declined to MVR 8 million from MVR 16 million. However, this moderate dip in customs revenue is offset by improvements in trade facilitation and logistical efficiency, as evidenced by increased vessel movement and processing activities.
According to Maldives Customs Service, port activity rose significantly with 104 vessels arriving and 146 departing in May 2025, compared to 88 arrivals and 122 departures in the same month last year. The number of processed trade declarations surged to 21,322 in May 2025, up from 19,075 in May 2024, reflecting increased commercial engagement and enhanced trade compliance.
This reconfiguration of the Maldives’ trade dynamics illustrates a healthy economic diversification under the administration of President Dr. Mohamed Muizzu. His government’s policy direction has emphasized expanding international trade opportunities, supporting the fisheries sector, and improving customs efficiency to stimulate economic growth. The steady performance of exports, particularly from fisheries, and a growing focus on high-demand consumer goods in imports, underscore a balanced and forward-looking trade strategy that aligns with the nation’s long-term development goals.
The Maldives Customs Service continues to play a pivotal role in enabling these developments, providing reliable data and strengthening customs procedures to support trade transparency and regulatory compliance. These achievements, taking place amid global economic uncertainties, position the Maldives as a resilient and adaptive economy, committed to enhancing trade competitiveness and sustainable growth.
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