Tourism, fisheries, construction and other output oriented activities
Real
Fiscal Sector
Government accounts and budget information
Fiscal
Financial Sector
Financial statistics of MMA, commercial banks and other financial corporations in Maldives
Financial
External sector
Transactions with the rest of the world
External
Advanced Release Calender
Tourist arrivals
In December 2024, total tourist arrivals stood at 208,980, registering an increase of 7.3% compared with the same period of last year. During the month, the highest number of tourist arrivals were recorded from Italy, followed by United Kingdom and Russia.
The rate of inflation (annual percentage change in the national CPI) accelerated to 5.3% in January 2025, from 4.8% in December 2024. The largest contribution to the annual rate of inflation during the month came from Tobacco (1.78 percentage points); Restaurants, cafés and the like (1.77 percentage points); and Fish (0.63 percentage points).
The volume of fish exports increased by 27.6% in January 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 93.9% (2,079.1 metric tonnes).
Total government revenue and grants is estimated to be increased by MVR5.6 billion (16.5%) in 2025 when compared to 2024, mostly driven by Tax revenue (an increase of MVR3.5 billion).
Total government expenditure is estimated to be increased by MVR1.4 billion (3.0%) in 2025 when compared to 2024, driven by capital expenditure (an increase of MVR0.9 billion) and current expenditure (an increase of MVR0.5 billion).
The annual broad money (M2) growth rate accelerated to 1.7% at the end of January 2025 from -0.1% in December 2024. During the month, the annual growth in broad money was primarily driven by the increase in quasi money.
Annual growth of credit to private sector by commercial banks remained at 6.7% at the end of January 2025, compared to December 2024. During the month, the largest contribution to the annual growth was from credit allocated for personal loans, real estate sector and commerce sector.
Official reserve assets stood at USD 832.1 million at the end of February 2025, reflecting 17.5% increase from USD 708.1 million at the end of January 2025. Similarly, official reserve assets increased by 41.3% in annual terms during the review period.
Total exports (f.o.b.) in January 2025 increased by 16.5% compared to the same period last year. This stemmed primarily from the rise in re-exports, despite fish exports observing a decline during the period.
Total imports (c.i.f.) in January 2025 increased by 1.1% compared to the same period last year. This stemmed primarily from the decline in imports of petroleum products, despite imports of stationeries, office supplies and printed materials observing a rise during the period.
The current account deficit is expected to narrow to 20.4% of GDP in 2024, after recording 21.3% of GDP in 2023. Similarly, it is projected to narrow to 12.5% of GDP in 2025.
