Re-export earnings up 6.8% as sea-to-air cargo service boosts trade

The Maldives Monetary Authority (MMA) has reported that re-export earnings for the year so far have increased significantly, reaching $319 million compared to $299 million in the same period last year, a rise of 6.8 percent. The increase is attributed to the sea-to-air cargo service introduced in May 2024, which allows goods brought into the country by sea to be transited and sent via air to international destinations. In July alone, 633 tons of cargo were sent abroad under this service. Over 17 international airlines have connected with the system since its launch. The government sees further potential for growth, given the high number of international flights through the Maldives. The sea-to-air cargo service was officially launched in February 2021, aiming to make the Maldives a regional cargo hub via Velana International Airport.