Maldives Fish Exports Plummet in 2024, Skipjack Tuna Hit Hard

The Maldives fishing industry has experienced a significant downturn in exports during the first eight months of 2024, according to recent data released by the Maldives Monetary Authority (MMA). The island nation's fish exports have dropped by a staggering 46.6 percent compared to the same period in 2023.

From January to August 2024, the Maldives exported a total of 30,241.3 metric tonnes of fish, a sharp decline from the 26,437 metric tonnes recorded during the corresponding period last year. The monthly export figures paint a picture of fluctuating volumes, with February seeing the highest exports at 6,051 metric tonnes, while July witnessed the lowest at just 1,113 metric tonnes.

Skipjack tuna, traditionally the country's primary fish export, has been particularly affected by this downturn. Exports of this species reached only 18,454 metric tonnes, less than half of the 40,369 tonnes exported during the same timeframe in 2023. This dramatic decrease highlights the challenges facing the Maldivian fishing industry.

Other significant exports included 6,407 metric tonnes of yellowfin tuna and 3,995 metric tonnes of canned and poached fish products. These figures underscore the diversity of the Maldives' fish export portfolio, despite the overall decline in volumes.

The monthly breakdown of fish exports for 2024 is as follows:

• January: 4,475 metric tonnes

• February: 6,051 metric tonnes

• March: 3,787 metric tonnes

• April: 4,746 metric tonnes

• May: 4,404 metric tonnes

• June: 3,495 metric tonnes

• July: 1,113 metric tonnes

• August: 2,168 metric tonnes

This substantial decrease in fish exports raises concerns about the health of the Maldives' fishing industry and its potential impact on the country's economy. As one of the nation's key sectors, the fishing industry's performance is closely watched by economic analysts and policymakers alike.