Maldives recorded MVR 4.4 billion in imports this May, a slight dip from the same month last year, while exports grew by nearly 28 percent, driven by increased demand for frozen skipjack tuna. The latest trade data, released by Maldives Customs Service, shows notable shifts in import composition and export markets compared to May 2024.
While total imports (including fuel) declined marginally from MVR 4.5 billion in May 2024 to MVR 4.4 billion in May 2025, non-fuel imports rose from MVR 3.3 billion to MVR 3.6 billion. Fuel imports dropped significantly over the same period, falling from MVR 1.14 billion to MVR 790 million.
Food remained the largest category of non-fuel imports in May 2025, reaching MVR 906 million — up from MVR 736 million a year earlier. Machinery and electrical appliances saw a decline from MVR 739 million to MVR 638 million, while imports of vessels and aircraft parts decreased from MVR 459 million to MVR 389 million.
Meanwhile, exports rose from MVR 141 million in May 2024 to MVR 180 million in May 2025. Frozen skipjack tuna saw the largest increase, nearly doubling from MVR 55 million to MVR 107 million year-on-year. Exports of preserved skipjack tuna also edged up from MVR 39 million to MVR 41 million. However, exports of yellowfin tuna (both frozen and fresh) declined.
Thailand remained the top export destination, increasing its share from 48 percent (MVR 68 million) in 2024 to 50 percent (MVR 89 million) in 2025. The United Kingdom retained its second-place position, importing MVR 36 million in Maldivian goods, up from MVR 31 million the previous year.
On the import side, the United Arab Emirates took the lead in May 2025 with imports worth MVR 908 million, overtaking Oman, which was the largest source of imports in May 2024. India’s import share remained consistent, with a slight increase from MVR 546 million to MVR 577 million. Imports from China held steady, while Singapore’s share fell from MVR 412 million to MVR 393 million.
Despite the rise in export volume and a reconfiguration in trade partners, customs revenue decreased from MVR 364 million in May 2024 to MVR 351 million in May 2025. Royalties also dropped by half, from MVR 16 million to MVR 8 million.
Vessel movement data for May 2025 showed increased port activity, with 104 vessels arriving and 146 departing. This marks an increase from 88 arrivals and 122 departures in May 2024. A total of 21,322 trade declarations were processed in May 2025, compared to 19,075 the previous year.
The shift in trade patterns highlights a growing reliance on food imports and modest growth in export capacity, particularly within the fisheries sector, even as overall customs collections trend downward.
