MMA Statistics Database
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Real
Fiscal
Financial
External
Tourist arrivals
In December 2025, total tourist arrivals stood at 224,455, registering an increase of 7.4% compared with the same period of last year. During the month, the highest number of tourist arrivals were recorded from Russia, followed by Italy and United Kingdom.
Total tourist arrivals
224.46 K
tourists for Dec 2025
Composition of Total tourist arrivals for December 2025
Operational number of Resorts
178
resorts as at Dec 2025
Inflation
The rate of inflation (annual percentage change in the national CPI) decelerated to 0.4% in December 2025, from 1.4% in November 2025. The largest contribution to the annual rate of inflation during the month came from Electricity (-0.80 percentage points); Fish (0.43 percentage points); and Restaurants, cafés and the like (0.22 percentage points).
Inflation rate
0.4%
percent as at Dec 2025
Monthly change
of Inflation rate
-1 pp.
compared to previous month
Fish exports
The volume of fish exports increased by 162.8% in December 2025 compared with the same period of last year. This was mainly driven by the increase in the export of Fresh, chilled or frozen Skipjack tuna by 453.9% (3,551.1 metric tonnes).
Fish exports
6.84 K
metric tonne for Dec 2025
Monthly change
of Fish exports
3.81 K
compared to previous month
Real GDP growth
Real GDP is projected to grow by 5.3% in 2026, followed by an estimated growth of 5.4% in 2025.
Real GDP growth rate
5.3%
percent as at 2026
Annual change
of Real GDP growth rate
-0.1 pp.
compared to previous year
Total revenue and grants
Total government revenue and grants is estimated to be increased by MVR2.5 billion (6.6%) in 2026 when compared to 2025, mostly driven by Tax revenue (an increase of MVR2.7 billion).
Total revenue and grants
40.37 B
rufiyaa for 2026
Composition of Total revenue and grants for 2026
Total expenditure
Total government expenditure is estimated to be increased by MVR4.9 billion (11.1%) in 2026 when compared to 2025, driven by current expenditure (an increase of MVR2.7 billion) and capital expenditure (an increase of MVR2.2 billion).
Total expenditure
49.21 B
rufiyaa for 2026
Composition of Total expenditure for 2026
Overall fiscal balance in percent of GDP
The fiscal deficit is estimated to be widened to 7.1% of GDP in 2026, from 5.5% in 2025.
Overall balance in percent of GDP
-7.1%
percent as at 2026
Annual change
of Overall balance in percent of GDP
-1.6 pp.
compared to previous year
Broad money
The annual broad money (M2) growth rate accelerated to 21.4% at the end of December 2025 from 18.3% in November 2025. During the month, the annual growth in broad money was primarily driven by the increase in quasi money.
Broad money
71.87 B
rufiyaa as at Dec 2025
Monthly change
of Broad money
1.76 B
compared to previous month
Composition of Broad money as at December 2025
Credit to private sector
Annual growth of credit to private sector by commercial banks accelerated to 13.2% at the end of December 2025 from 8.7% in November 2025. During the month, the largest contribution to the annual growth was from credit allocated for tourism sector, personal loans and construction sector.
Total loans and advances
38.34 B
rufiyaa as at Dec 2025
Monthly change
of Total loans and advances
1.14 B
compared to previous month
Composition of Total loans and advances as at December 2025
Standing Deposit Facility (average)
During January 2026, the average Standing Deposit Facility placements stood at MVR4.41 billion, reflecting 21.92% decline in annual terms.
Standing Deposit Facility (average)
4.41 B
rufiyaa as at Jan 2026
Monthly change
of Standing Deposit Facility (average)
138.61 M
compared to previous month
Official reserve assets
Official reserve assets stood at USD 1,026.1 million at the end of January 2026, reflecting 4.4% increase from USD 983.0 million at the end of December 2025. Similarly, official reserve assets increased by 44.9% in annual terms during the review period.
Official reserve assets
1.03 B
us dollar as at Jan 2026
Composition of Official reserve assets as at January 2026
Exports
Total exports (f.o.b.) in December 2025 increased by 27.5% compared to the same period last year. This stemmed primarily from the rise in fish exports and re-exports.
Export of goods
50.22 M
us dollar for Dec 2025
Monthly change
of Export of goods
12.61 M
compared to previous month
Composition of Export of goods for December 2025
Imports
Total imports (c.i.f.) in December 2025 decreased by 7.9% compared to the same period last year. This stemmed primarily from the decline in imports of transport equipments and parts, despite imports of electrical, electronic machinery, equipments and parts observing a rise during the period.
Import of goods
346.04 M
us dollar for Dec 2025
Monthly change
of Import of goods
9.06 M
compared to previous month
Export of goods and service
Export of goods and services for 2025 increased by 13.1% compared to 2024. Similarly, it is estimated to increase by 4.0% in 2026.
Export of goods and service
6.37 B
us dollar for 2026
Annual change
of Export of goods and service
245.92 M
compared to previous year
Balance on goods in percent of GDP
The balance on goods in percent of GDP is estimated to be -38.7% in 2025 and -37.9% in 2026.
Balance on goods in percent of GDP
-37.9%
percent as at 2026
Annual change
of Balance on goods in percent of GDP
0.80 pp.
compared to previous year
Import of goods in percent of GDP
Import of goods in percent of GDP is estimated to be 44.6% in 2025 and 43.8% in 2026.
Import of goods in percent of GDP
43.8%
percent as at 2026
Annual change
of Import of goods in percent of GDP
-0.8 pp.
compared to previous year
Current account balance in percent of GDP
The current account deficit is expected to narrow to 7.0% of GDP in 2025, after recording 18.7% of GDP in 2024. However, it is projected to widen to 7.8% of GDP in 2026.
Current account balance in percent of GDP
-7.8%
percent as at 2026
Annual change
of Current account balance in percent of GDP
-0.8 pp.
compared to previous year
Exchange rate
At the end of January 2026, the exchange rate of Maldivian Rufiyaa (MVR) per US Dollar (USD) was 15.42.
United States dollar
15.42
rufiyaa as at Jan 2026