The Maldives' export sector plays a crucial role in its economic development, diversifying its revenue streams beyond tourism. The top 10 major exports of the Maldives include fish and seafood products, tuna, processed food and beverages, petroleum products, coconut-based products, clothing and apparel, scrap metal, live reef fish, woodcrafts and handicrafts, and furniture and furnishings.
Fish and Seafood Products
Fish and seafood products are the backbone of the Maldives' export sector, reflecting the country's rich marine resources. The Maldives is known for its high-quality tuna, reef fish, and other seafood. In terms of volume, the Maldives exported approximately 150,000 metric tons of fish and seafood products, valued at around $250 million. Its major trading partners for this category include Thailand, Sri Lanka, and Japan.
Tuna
Tuna holds a significant share within the fish and seafood export category, as it is one of the Maldives' primary fishing resources. The country is renowned for its sustainable tuna fishing practices and high-quality tuna products. In terms of volume, the Maldives exported approximately 80,000 metric tons of tuna, valued at around $200 million. Its closest trading partners for tuna include Thailand, Spain, and Italy.
Processed Food and Beverages
The Maldives exports a range of processed food and beverages, including canned fish, packaged snacks, and bottled beverages. These products cater to both domestic and international markets. In terms of volume, the Maldives exported processed food and beverages worth approximately $150 million. Its primary trading partners for this category include Sri Lanka, India, and the United Arab Emirates.
Petroleum Products
Although the Maldives does not have significant oil reserves, it imports petroleum products for domestic consumption and re-exports a portion to neighboring countries. In terms of volume, the Maldives exported approximately 400,000 metric tons of petroleum products, valued at around $100 million. Its major trading partners for petroleum products include Sri Lanka, India, and Singapore.
Coconut-based Products
The Maldives is known for its abundant coconut trees, and the export of coconut-based products has gained momentum in recent years. These products include coconut oil, desiccated coconut, and coconut-based snacks. In terms of volume, the Maldives exported coconut-based products worth approximately $80 million. Its closest trading partners for this category include Sri Lanka, India, and the United Arab Emirates.
Clothing and Apparel
The Maldives has a small but growing garment industry, producing clothing and apparel primarily for the tourism sector. These products include resort wear, swimwear, and beach accessories. In terms of volume, the Maldives exported clothing and apparel valued at around $60 million. Its primary trading partners for this category include Sri Lanka, India, and the United Arab Emirates.
Scrap Metal
The export of scrap metal has become a significant source of revenue for the Maldives. The country exports a range of ferrous and non-ferrous scrap metals to meet the demands of regional markets. In terms of volume, the Maldives exported approximately 30,000 metric tons of scrap metal, valued at around $40 million. Its major trading partners for scrap metal include India, Sri Lanka, and Bangladesh.
Live Reef Fish
The Maldives is known for its vibrant coral reefs and diverse marine life, making live reef fish a sought-after commodity. These live fish are exported for the aquarium trade and to high-end restaurants in various countries. In terms of volume, the Maldives exported approximately 3,000 metric tons of live reef fish, valued at around $30 million. Its closest trading partners for live reef fish include Hong Kong, Singapore, and China.
Woodcrafts and Handicrafts
The Maldives has a rich tradition of craftsmanship, particularly in woodcrafts and handicrafts. These products include intricately carved wooden souvenirs, traditional lacquerware, and woven items. In terms of volume, the Maldives exported woodcrafts and handicrafts worth approximately $25 million. Its primary trading partners for these products include the United States, the United Kingdom, and Germany.
Furniture and Furnishings
The export of furniture and furnishings is a growing sector in the Maldives. These products cater to both domestic and international markets, providing stylish and functional options for homes, resorts, and hotels. In terms of volume, the Maldives exported furniture and furnishings valued at around $20 million. Its major trading partners for this category include Sri Lanka, India, and the United Arab Emirates.
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