Maldives Monetary Authority (MMA) has recorded a decline in income received from fish exports in November 2017.
The income received by fish exports declined, even though the volume of fish purchases made by fish processing companies registered a growth of 56% in monthly terms, according to statistics published by MMA.
MMA revealed that fish purchases made by fish processing companies totaled 7920 metric tons in November 2017, which is an annual growth on 14%. In regard to fish exports, both the volume and earnings from fish export registered an annual decrease of 38% and 18% respectively. Decline in both the volume and earnings of fish exports are largely due to the significant decrease in frozen yellow fin tuna and skipjack tuna exports, according to MMA.
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In contrast, both the volume and earnings from canned or pouched tuna exports registered a growth over the period. In monthly terms, both the volume and earnings from fish exports registered a growth of 88% and 80%, respectively, driven by increases in frozen skipjack and fresh or chilled yellow fin tuna exports.