China became the Maldives' largest source of imported goods during the first five months of 2026 as imports from the United Arab Emirates (UAE) declined sharply, the latest financial and economic statistics released by the Maldives Monetary Authority (MMA) show.

The central bank reported that goods worth USD 267.4 million were imported from China between January and May, making it the country's largest import partner during the period. Imports from China increased by 28.1 per cent compared with the same period last year, when goods worth USD 208.7 million were imported.

India ranked as the second-largest source of imports during the same period, with goods valued at USD 245 million. Meanwhile, imports from the UAE fell to USD 188.3 million during the first five months of this year, down 47.1 per cent from USD 356.2 million in the corresponding period of 2025.

The UAE was the Maldives' largest source of imports during the first five months of last year and remained the country's biggest import partner overall in 2025, with imports valued at USD 645 million. In 2024, imports from the UAE totalled USD 723.1 million.

The decline in imports from the UAE came during a period of disruption to shipping through the Gulf following heightened regional tensions, including Iran's threat to close the Strait of Hormuz during the recent conflict involving Iran, Israel and the United States. The Strait of Hormuz is one of the world's busiest maritime trade routes and a key shipping corridor for cargo originating from the Gulf.

The continued growth in imports from China follows the implementation of the Maldives-China Free Trade Agreement in January 2025. Under the agreement, a wide range of Chinese goods can be imported into the Maldives duty-free, while many Maldivian exports, including seafood, also receive duty-free access to the Chinese market.