MMA Statistics Database
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Real
Fiscal
Financial
External
Tourist arrivals
In January 2026, total tourist arrivals stood at 224,788, registering an increase of 4.6% 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 China.
Total tourist arrivals
224.79 K
tourists for Jan 2026
Composition of Total tourist arrivals for January 2026
Operational number of Resorts
179
resorts as at Jan 2026
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 decreased by 33.8% in January 2026 compared with the same period of last year. This was mainly driven by the decrease in the export of Fresh, chilled or frozen Skipjack tuna by 50.3% (2,157.5 metric tonnes).
Fish exports
3.78 K
metric tonne for Jan 2026
Monthly change
of Fish exports
-3.06 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 decelerated to 19.6% at the end of January 2026 from 21.4% in December 2025. During the month, the annual growth in broad money was primarily driven by the increase in quasi money.
Broad money
73.71 B
rufiyaa as at Jan 2026
Monthly change
of Broad money
1.83 B
compared to previous month
Composition of Broad money as at January 2026
Credit to private sector
Annual growth of credit to private sector by commercial banks accelerated to 13.5% at the end of January 2026 from 13.2% in December 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
38.41 B
rufiyaa as at Jan 2026
Monthly change
of Total loans and advances
74.82 M
compared to previous month
Composition of Total loans and advances as at January 2026
Standing Deposit Facility (average)
During February 2026, the average Standing Deposit Facility placements stood at MVR3.38 billion, reflecting 48.16% decline in annual terms.
Standing Deposit Facility (average)
3.38 B
rufiyaa as at Feb 2026
Monthly change
of Standing Deposit Facility (average)
-1.03 B
compared to previous month
Official reserve assets
Official reserve assets stood at USD 1,271.6 million at the end of February 2026, reflecting 23.9% increase from USD 1,026.1 million at the end of January 2026. Similarly, official reserve assets increased by 52.8% in annual terms during the review period.
Official reserve assets
1.27 B
us dollar as at Feb 2026
Composition of Official reserve assets as at February 2026
Exports
Total exports (f.o.b.) in January 2026 decreased by 10.8% compared to the same period last year. This stemmed primarily from the decline in re-exports and fish exports.
Export of goods
49.67 M
us dollar for Jan 2026
Monthly change
of Export of goods
-542.96 K
compared to previous month
Composition of Export of goods for January 2026
Imports
Total imports (c.i.f.) in January 2026 increased by 17.0% compared to the same period last year. This stemmed primarily from the rise in imports of petroleum products and machinery, mechanical appliances and parts.
Import of goods
363.49 M
us dollar for Jan 2026
Monthly change
of Import of goods
17.45 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 February 2026, the exchange rate of Maldivian Rufiyaa (MVR) per US Dollar (USD) was 15.42.
United States dollar
15.42
rufiyaa as at Feb 2026