The Maldives Industrial Fisheries Company (MIFCO) has announced that MVR 9.3 million was disbursed to fishermen during the past week for their catch.

According to statistics released by the State-owned company, 218 fishing vessels were weighed during the period, a 35.8 per cent drop from the 340 vessels recorded the week before. Correspondingly, total payments to fishermen fell by 43.4 per cent, from MVR 16.6 million in the previous week to MVR 9.39 million last week.

The Maldives Monetary Authority (MMA) has said that the fisheries exports have seen substantial growth this year. Between January and July 2025, the Maldives exported 52,763 metric tonnes of fish, up 88.8 per cent from the 27,950 metric tonnes exported during the same period last year. Fresh and frozen fish exports more than doubled, rising from 23,234 metric tonnes in 2024 to 47,902 metric tonnes in 2025, an increase of 106.2 per cent.

Fish products remain the largest component of Maldivian exports, with the Government prioritising the expansion of the sector to boost economic returns. The Ministry of Fisheries and Ocean Resources has outlined plans to increase fish processing capacity by nine times within the next three years, alongside efforts to improve storage facilities.

Developing the fisheries industry is one of the Administration’s top priorities, with initiatives under way to attract more youth into the sector through specialised training programmes.