The fisheries industry had observed positive growth during the final quarter of 2018 following weak performances during the preceding quarters.
The final quarter’s performance of the industry was positive heavily due to the fish purchases by fish processing and manufacturing companies as well as the increase in the volume of fish exports.
According to Maldives Monetary Authority’s (MMA) quarterly economic bulletin fish purchases during the final quarter registered a significant growth of 91% compared to the previous quarters.
In annual terms, fish purchases had observed a growth of 8% during the final quarter.
The quarterly economic bulletin read that the major upsurge in the fisheries industry was observed due to the rise in purchase of skipjack tuna and yellowfin tuna. It was reported that the total fish purchases reached 24,789.5 metric tons.
In addition to this, skipjack tuna and yellowfin tuna collectively accounted for 98% of the total fish purchases made during the quarter.
As per fish exports, after experiencing negative annual growths for the preceding two quarters the volume of fish exports observed a growth of 11% and totalled 23,396.7 metric tons during Q4 2018.
Comments