Processing companies in the fishing industry bought 47 percent less in September compared to the same period last year, says Maldives Monetary Authority (MMA).

The MMA’s month-end report for October says that these companies bought 1,514 metric tons, 44 percent less compared to September last year and 47 percent less compared to the same months in 2016.

While the report states that fish purchases by processing companies had declined, the volume of fish exports saw an increase of eight percent in September.

“The growth in both earnings and volume of fish exports was largely due to significant increase in frozen yellowfin tuna and canned or pouched tuna exports” the report said.

However, this growth is only in annual terms, the MMA said. The central bank added that in monthly terms, the total amount earned through aforesaid fish exports had also declined by 44 percent.