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 March 2025, total tourist arrivals stood at 203,468, registering an increase of 4.8% compared with the same period of last year. During the month, the highest number of tourist arrivals were recorded from Russia, followed by United Kingdom and Italy.
The rate of inflation (annual percentage change in the national CPI) accelerated to 5.3% in March 2025, from 5.1% in February 2025. The largest contribution to the annual rate of inflation during the month came from Restaurants, cafés and the like (1.79 percentage points); Tobacco (1.78 percentage points); and Fruit (0.63 percentage points).
The volume of fish exports increased by 96.2% in March 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 129.7% (3,342.8 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 7.7% at the end of March 2025 from 4.9% in February 2025. 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 accelerated to 7.7% at the end of March 2025 from 7.0% in February 2025. 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 791.0 million at the end of March 2025, reflecting 4.9% decrease from USD 832.1 million at the end of February 2025. However, official reserve assets increased by 46.0% in annual terms during the review period.
Total exports (f.o.b.) in March 2025 increased by 3.3% compared to the same period last year. This stemmed primarily from the rise in fish exports, despite re-exports observing a decline during the period.
Total imports (c.i.f.) in March 2025 increased by 0.2% compared to the same period last year. This stemmed primarily from the decline in imports of petroleum products and wood, metal, cement and aggregates.
The current account deficit is expected to narrow to 17.8% 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.
