Maldives Monetary Authority (MMA) revealed that fish exports had decreased by 12 percent in the first five months of 2020 compared to the same period last year.
As per MMA statistics, 27,000 metric tonnes were exported between January and May 2020 compared to the 31,000 metric tonnes recorded in the first five months of 2019.
As per official figures, Maldives generated USD 61 million (MVR 940 million) from fish exports during the first five months of 2020.
The COVID-19 pandemic has significantly affected the fisheries industry, with several major exporters reporting lower sales.
Maldives’ fish exports totalled at 52,000 metric tonnes in the previous year.
Over the past five years, fish exports peaked in 2017 with over 72,000 metric tonnes exported from the country.
The majority of Maldives’ export revenue is sourced from exports of fish, with raw fish shipments accounting for as much as 70 percent of fish exports.