Recent data released by the Maldives Monetary Authority (MMA) reveals a substantial increase in both the volume and value of fish and fish products exported over the past year.

According to figures provided by the central bank, exports reached 31.3k metric tonnes by April this year, marking a significant rise of 64.7 per cent compared to 19k metric tonnes during the same period in 2024.

This growth was particularly pronounced in the export of fresh, chilled, and frozen Skipjack Tuna. While around 15.9k metric tonnes of these products were exported last year, this year’s figure surged to 24.7k metric tonnes.

The quantity of fish weighed also increased. It stood at 26.9k metric tonnes last year but rose by 16.7 per cent to 31.4k metric tonnes by the end of April this year.

Alongside the rise in export volumes, the overall value of fish exports has improved markedly. Between January and April 2024, the total export value was reported at USD 37 million (approx. MVR 570 million). For the same period this year, it climbed to USD 52.5 million, or MVR 809.6 million, reflecting a 42.1 per cent increase in revenue.

Supporting fishermen, MIFCO has reportedly ensured payments within 48 hours of fish delivery since December last year, a move aimed at improving cash flow and providing greater financial stability to the fishing community.

Meanwhile, the Government has launched several initiatives to upgrade fisheries infrastructure across the country. These include the development of fish processing and storage facilities expected to triple current storage capacity and significantly boost processing volumes.

Additionally, the State Trading Organisation (STO) has rolled out a national scheme to establish oil outlets across various atolls.