DTIS, Volume I - Enhanced Integrated Framework (EIF)

traditional occupation operating from the islands, there are about 43 licensed fishing
companies operating in the Maldives EEZ. Although registered in the Maldives, these
companies typically operate vessels registered in other countries. There is very little
information available on the activities of these companies, and consequently inadequate
transparency on fishery operations in the EEZ.
Table 8.3 Tsunami Damage Estimates
Damage to
Sourc
Infrastructure
e:
Total Damage to Infrastructure
No. Type of Facility Unit
Joint
Full Part Rf Million US$ Million 2
WB/
FAO
dama
ge
Asses
smen
t,
1
2
3
4
5
Total
Fishing vessels
Fish processors 3
Reef fishery 4
Infrastructure 5
Business loss 6 No.
No.
No.
No.
120
374
0
8
320
0
5
2
147.50
17.80
1.88
1.55
152.57
321.32
11.48
1.38
0.14
0.12
11.87
25.00
February 2005
1 Damage estimate is based on MFARM’s revised estimate, received on 13 January 2005.
2 $1.0 = Rf12.85
3 337 Cottage fish processors and 37 commercial processors lost equipment and materials.
4 Reef fishery damages include lost equipment, harvesting fleet materials and lost ocean cages
5 Infrastructure includes damaged boatsheds, MRS, and FAD centre
6 Direct income losses from fishing and other businesses estimated here. MFAMR estimate of MVR 405.04 million
as business losses also include financial costs for vessels and loss in GDP.
IMPORTS
Most capital goods such as inboard or out-board engines, fishing gear or mechanical parts
and all fuel and lubricants required for operations are imported. 27 The import bill in
value terms for mechanical items was Rf 71 million in 2004, less than 1 per cent of total
imports amounting to Rf 8,215 million.
The main importer of inputs and equipment for the industry is the State Trade
Organisation (STO). Private importers have only a small share of this business.
According to interviews conducted by the DTIS team, there was widespread
disappointment among with the performance of STO as prices for comparable equipment
in Sri Lanka are as much as 15 to 30 per cent lower. This view of monopolistic methods
at STO is reinforced by the fact that it is able to provide loan financing for the purchase
of equipment it imports.
EXPORTS
In the first half of 2005, the fisheries sector accounted for 98 per cent of merchandise
exports, whilst the apparel sector had virtually disappeared and accounted for a mere 1
27 Fishing vessels are produced at five substantial boat yards in addition to a number of smaller boat
building businesses. Two different types of vessels are built in the Maldives: wooden hulled (the traditional
masdhonis) and cast glass fibre vessels. Most repair and maintenance is also carried out in the country.
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