The Maldives is situated in the Indian Ocean, comprising over 1,000 coral islands scattered across the northern Indian Ocean. It borders India and Sri Lanka to the north, faces the Arabian Sea to the west, and the Bay of Bengal to the east, with a coastline stretching 644 kilometers.

       In 2025, the China-Maldives Free Trade Agreement (FTA) will take effect. Under the agreement, the majority of Chinese industrial exports to the Maldives—such as ships, electrical equipment, furniture—as well as agricultural products like vegetables and fruits, will gain significant tariff advantages. The FTA provides a robust institutional framework to enhance trade and investment liberalization and facilitation between the two nations, driving greater progress in bilateral economic and trade relations.

       Renowned for its unique natural landscapes, abundant marine resources, and strategic geographic position, the Maldives serves as a critical transportation hub and premier tourist destination in the Indian Ocean. Wondering how to tap into the Maldives market? Discover the ultimate guide here!

  Market Situation  

       Tourism sector rebound boosts Maldives' real GDP growth to 5.5% in 2024, with per capita GDP reaching $16,800. As a founding member of the WTO and the South Asian Association for Regional Cooperation (SAARC), the Maldives has an average tariff rate of about 10%. High tariffs (up to 300%) are imposed on pork, alcohol, tobacco, and plastic bags. In 2019, the country abandoned its comprehensive licensing system, retaining it only for specific products like endangered species, protected flora and fauna, tobacco, alcohol, and weapons.

       The Maldives was one of the first nations to join the Belt and Road Initiative and has benefited significantly from it. The China-Maldives Free Trade Agreement, effective since 2025, is the Maldives' first bilateral FTA. It covers over 95% of tariff lines, with nearly 96% of items now at zero tariff.

  Market Demand  

Food and Agricultural Products
Maldives relies on imports for over 80% of its food due to limited agricultural resources. Imports include rice, vegetables, meat, and dairy products. The tourism sector's demand for premium food items like seafood, coffee, and tea further increases imports.

Building Materials and Machinery
The expansion of tourism drives infrastructure construction. After the China-Maldives FTA came into effect, tariffs on Chinese exports of steel and cement to Maldives were reduced to zero, offering significant price advantages.

Vehicles and Transportation
With weak industrial foundations, Maldives depends on boats and small vehicles for inter-island transport. The thriving tourism industry boosts demand for sightseeing and freight vehicles, presenting opportunities for Chinese enterprises.

Plastic Products and Packaging Materials
Tourism generates substantial packaging demand. Since Maldives banned single-use plastics in 2023, there's growing potential for Chinese eco-friendly packaging products.

Fuel and Energy Products
With a local energy self - sufficiency rate of less than 5%, Maldives relies on petroleum imports for 85% of its energy needs in 2024. Despite renewable energy efforts, short-term reliance on fuel imports persists.

Pharmaceuticals and Medical Equipment
Maldives' healthcare system is highly dependent on imports. Pharmaceutical imports grew by 12% in 2024. As tourism is a key industry requiring medical supplies, the China-Maldives FTA's tariff reductions on medical equipment will significantly boost imports.

  Market Characteristics  

Tiered Consumption
Maldives' economy is tourism - dependent, with notable income disparities. High - income groups prefer international brands, while middle - and low - income groups prioritize cost - effective products.

Brand Awareness
Consumers are brand - conscious, particularly in clothing, cosmetics, and electronics, with international brands being favored.

Cultural Factors
Religion influences consumption habits. For example, alcohol and non - halal foods face consumption restrictions.

Online Consumption
With a 58% internet penetration rate, the youth (aged 18 - 35) drive online consumption, which grew by 25% in 2024.

Personalized Consumption
Young consumers are showing new trends like preferring customized products and being willing to pay for experiential consumption such as cultural experiences and outdoor activities.

Cautious Decision - Making
Customers tend to be cautious in decision - making, preferring thorough discussion and consideration before deciding. Patience is required in business negotiations.

  Main Import and Export Products  

Exports
Include fishery products (tuna, frozen shrimp, canned fish, lobster), nuts, handicrafts and jewelry, sugar products, etc.

Imports
Include food and agricultural products, petroleum, building materials, machinery and equipment, vehicles, communication equipment, furniture, luggage, textiles, etc.

Major Trading Partners

The major trading partners are UAE, Singapore, China, India, Sri Lanka, Thailand, and Malaysia.

  Market Development Channels for Maldives  

Local Search Engine
http://www.google.mv

B2B Platforms
https://www.traveltrademaldives.com/exhibitor-directory/
https://www.maldivesyp.com/

Economic and Trade Websites
Maldives Customs: www.customs.gov.mv

Major Exhibitions
Maldives International Travel Show, Maldives Trade Expo

Note
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