The fishing industry is at its lowest point in the last 26 years, according to figures from the Fisheries Ministry.

The industry fell to a record low in 2024 and has been much lower in 2025.

The figures show that an average of 140,000 tons of fish were caught annually from 1998 to 2023. However, only 107,666 tons of fish were caught last year.

According to figures from the Maldives Industrial Fisheries Company (MIFCO), the fish catch is much lower this year.

Around 65,479 tons were caught by July 31 last year, while the figure stands at 43,191 tons so far this year.

This means there is a 34 percent decrease or 22,288 tons less compared to the previous year.

Fisheries have declined sharply since the government drastically reduced the fish purchasing price for MIFCO.

A kilo of fish was for MVR 22 in late 2023, but the price has been dropped to MVR 16 for a kilo of frozen fish and MVR 14 for a kilo of unfrozen fish.

However, President Mohamed Muizzu made a pledge to fishermen to keep the fish purhasing price above MVR 20 during his administration.