Fish exports decrease due to decline in demand

A report prepared by the Ministry of Economic Development in collaboration with United Nations Development Programme (UNDP) has indicated fish exports from the Maldives has decreased due to a decline in demand for fish in the international market.

The Rapid Livelihood Assessment prepared by the ministry states fish export from the Maldives has declined in all markets except for Asia. The fish export has declined by 15% in the first two months of this year, as compared to the same period last year.

The report states fish export to Europe decreased as restaurants and shops were closed due to lockdown orders issued in the European countries. 28% of all fish from Maldives is exported to Europe. A price drop of fish in the international market also caused fish export to decrease.

Over the past 5 years, Maldivian fishermen caught over 679,411 metric tonnes of fish with an average of 135,882 tonnes every year.