Maldives Fish Exports Plunge by Nearly Half in First Four Months of 2024

The Maldives' fishing industry faces a substantial setback as fish exports plummet by 45.7 percent in the first four months of 2024 compared to the same period last year, as reported by the Maldives Monetary Authority (MMA).
According to statistics shared by the central bank, a total of 19,060 metric tonnes of fish were exported from January to April this year. This marks a stark decline from the 35,081 metric tonnes exported during the corresponding period in 2023.
Breaking down the monthly figures, January saw exports of 4,475 metric tons, followed by 6,051 metric tons in February, 3,787 metric tons in March, and 4,746 metric tons in April.
Despite the overall decrease in fish exports, Skipjack Tuna emerged as the most prominent commodity, with 12,240 metric tonnes exported during the four-month period. Additionally, 3,740 metric tonnes of yellowfin tuna and 2,257 metric tonnes of canned and poached fish were exported.
The significant decline in fish exports raises concerns about the stability and profitability of the Maldives' fishing industry. Government officials and industry stakeholders may need to explore strategies to address the challenges faced by fish exporters and revitalize the sector's growth.
Efforts to diversify export markets, enhance fish processing capabilities, and improve logistical infrastructure could be crucial in mitigating the impact of declining exports and ensuring the long-term sustainability of the Maldives' fishing industry.