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 September 2025, total tourist arrivals stood at 149,563, registering an increase of 12.6% compared with the same period of last year. During the month, the highest number of tourist arrivals were recorded from China, followed by Russia and Germany.
The rate of inflation (annual percentage change in the national CPI) decelerated to 3.9% in September 2025, from 4.1% in August 2025. The largest contribution to the annual rate of inflation during the month came from Tobacco (3.52 percentage points); Electricity (-0.78 percentage points); and Fruit (0.61 percentage points).
The volume of fish exports increased by 111.7% in September 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 385.0% (2,053.2 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 16.6% at the end of September 2025 from 14.6% in August 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 6.4% at the end of September 2025 from 5.2% in August 2025. During the month, the largest contribution to the annual growth was from credit allocated for personal loans, real estate sector and construction sector.
Official reserve assets stood at USD 859.5 million at the end of September 2025, reflecting 6.1% increase from USD 810.0 million at the end of August 2025. Similarly, official reserve assets increased by 131.5% in annual terms during the review period.
Total exports (f.o.b.) in September 2025 increased by 24.0% compared to the same period last year. This stemmed primarily from the rise in fish exports and re-exports.
Total imports (c.i.f.) in September 2025 decreased by 10.2% compared to the same period last year. This stemmed primarily from the decline in imports of transport equipments and parts and petroleum products.
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.
