Maldives’ re-export earnings reach USD 315 million as sea-to-air cargo services expand

The Maldives recorded USD 314.9 million in re-export earnings during the first nine months of 2026, up 48.5 percent from USD 212 million during the same period last year, according to Maldives Monetary Authority (MMA) statistics.

Jet fuel remained the largest component of re-exports, reaching USD 255.8 million in January–September 2026, compared with USD 167.9 million during the corresponding period last year.

It accounted for more than four-fifths of the total re-export value.

The growth comes as the Maldives develops its sea-to-air cargo operation as part of efforts to expand its logistics business and make use of the country’s international airline connections.

Jointly provided by Maldives Airports Company Limited (MACL) and Maldives Ports Limited (MPL), the service began in May 2024.

More than 17 airlines have connected to the operation, according to reporting on its expansion.

Under the model, goods transported to the Maldives by sea are transferred to international flights through Velana International Airport for delivery to overseas markets.

MPL statistics showed that 633 tonnes of cargo were shipped through the service in July 2026, an 88 percent increase from 335 tonnes in June.

July shipments were carried by six airlines to 10 countries.

The airlines handling those shipments were Emirates, Etihad Airways, Qatar Airways, Saudia, Swiss Air and Turkish Airlines.

The government has highlighted the Maldives’ existing airline network as an opportunity to expand cargo services and strengthen the country’s position in regional logistics. While sea-to-air operations provide a further avenue for growth, jet fuel continues to account for the majority of the country’s recorded re-export earnings.