The Maldives experienced a significant boost in exports during July 2025, with a 27 percent year-on-year increase, according to the latest Economic Update from the Maldives Monetary Authority (MMA). This surge, primarily fueled by higher earnings from domestic products, particularly frozen skipjack tuna, counterbalanced a decline in re-exports. Import levels remained relatively stable, increasing by less than 1 percent during the same period. This positive export trend, coupled with moderated import growth, suggests an improved external position for the Maldivian economy.
The substantial increase in exports was largely attributed to the robust performance of the domestic fisheries sector. Frozen skipjack tuna, a key export commodity, experienced a significant rise in earnings, contributing significantly to the overall export growth. Conversely, re-exports showed a decline, primarily due to weaker earnings from diesel and other re-export categories. Despite this overall decrease, the MMA report notes a growth in jet fuel re-exports.
In contrast to the dynamic export sector, the import sector exhibited a more subdued performance. Total imports increased by less than 1 percent in July 2025. This modest rise was primarily driven by increased spending on petroleum products and construction-related goods. These increases, however, were offset by declines in imports of electrical and electronic machinery, equipment, and parts.
Analyzing the broader January-to-July 2025 period reveals a consistent trend. Exports grew by 14 percent year-on-year, while imports decreased by 1 percent. This sustained positive performance in exports, coupled with the slowdown in imports, further reinforces the improved external position of the Maldivian economy. The data underscores the significant contribution of goods exports to the nation’s economic growth during this period.
The economic trends highlighted in the MMA report reflect the Maldives’ economic structure and its dependence on key export sectors. The strong performance of the fisheries sector, particularly tuna exports, is a significant driver of economic growth. Conversely, the fluctuations in re-exports, particularly those related to fuel, highlight vulnerabilities in the Maldivian economy’s reliance on international trade and global commodity price volatility.
The MMA’s analysis acknowledges the influence of global factors on trade flows. Global commodity prices and shipping routes continue to impact the Maldivian economy. However, the data clearly indicates that export-led earnings are playing an increasingly important role in supporting the nation’s economic stability and growth. The positive export performance, despite global uncertainties, offers a promising outlook for the Maldivian economy.
The sustained growth in exports, particularly in the crucial fisheries sector, signals a positive economic trajectory for the Maldives. While challenges remain, particularly concerning the volatility of re-exports and the impact of global factors, the current trend suggests a strengthening external position for the nation. The MMA’s data provides valuable insights into the evolving economic landscape of the Maldives and underscores the importance of the fisheries sector to its economic health.