The National Bureau of Statistics (NBS) has reported a sharp decline in fisheries revenue in February this year, with earnings falling by 75 percent.

According to NBS statistics, the Gross Value Added (GVA) of the fisheries sector stood at MVR 108 million in February. The bureau said this marked a 75 percent decrease compared to February 2025 and a 40 percent drop compared to January 2020.

The decline was mainly linked to reduced fish production and lower fish exports. NBS stated that fish exports fell between 45 percent and 65 percent during the first two months of the year, while the volume of fish sold also dropped significantly.

However, the bureau noted signs of recovery in March, with fish exports increasing by 8 percent following improvements in the fishing industry.

According to the NBS, the fishing sector has experienced a decline over the past two years, although fishing incomes usually peak during the middle of the year.