Maldives spent USD 240 million (MVR 3.7 billion) on fuel imports during the first quarter of this year.
According to figures, fuel import expenditure increased by nearly 50 percent compared with the same period last year, when the country spent USD 161 million (MVR 2.5 billion) on fuel imports.
The rise in spending has been attributed to higher global fuel prices, driven in part by continued instability and conflict in the Middle East.
Diesel accounted for the largest share of fuel imports. Maldives imported USD 171 million worth of diesel during the first three months of the year, compared with USD 116 million in the same period of 2025.
Petrol imports reached USD 48 million, more than double the USD 22 million recorded during the first quarter of last year.
Jet fuel imports stood at USD 12 million, remaining broadly unchanged from the previous year.
Most fuel imports are handled by the State Trading Organization (STO), although private companies, including Villa Group and Hawks, also import fuel into the country.
Overall imports reached USD 1 billion during the first quarter, representing a 20 percent increase compared with the same period last year.
Food remained the second-largest import category, with the Maldives importing USD 225 million worth of food products between January and March.
Among food imports, meat products accounted for the largest share at USD 45 million. Imports of beverages and confectionery products totaled USD 42 million, while fruit imports reached USD 35 million. Dairy products accounted for USD 31 million and vegetable imports stood at USD 30 million during the quarter.
The private sector imported goods worth USD 721 million, an increase of 10 percent compared with the previous year.
Meanwhile, imports by state-owned enterprises and government agencies rose sharply to USD 279 million, up 38 percent from USD 202 million recorded during the same period last year.
Exports also recorded growth during the quarter. Maldives exported goods worth USD 150 million in the first three months of the year, a six percent increase compared with the same period in 2025.
