The Maldivian economy grew by 2.4% in August 2026, with financial services, real estate, and wholesale and retail trade among the sectors contributing to the growth, according to statistics released by the Maldives Bureau of Statistics (MBS).
The bureau’s Monthly Indicators of Economic Growth report, published on October 15, recorded economic output at MVR 9.64 billion in August, up from MVR 9.41 billion during the same month last year. This also represented a 5.4% increase compared with July 2026.
Financial services recorded the strongest growth among the highlighted sectors, rising by 21.9% and contributing an additional MVR 748 million. The increase was attributed to higher activity in financial transactions and insurance services.
Wholesale and retail trade grew by 8.1%, adding MVR 864 million, while the construction sector expanded by 10.4%, contributing an additional MVR 487 million.
Hospitality and food services, which include tourism-related activities, remained the largest sector of the economy, accounting for 23.1% of total economic output. The sector generated MVR 2.23 billion in August, marking a 0.7% increase compared with August last year and a 10.6% rise from July. According to the report, the growth was driven by an increase in the number of nights tourists spent in the Maldives.
Travel and transportation services accounted for 11.7% of economic output, reaching MVR 10.06 billion in August. This was the highest level recorded since January and represented an 11.4% increase compared with the MVR 8.6 billion recorded in August 2024.
The latest figures indicate that economic activity strengthened in July and August following a slowdown in June, with several key sectors recording growth over the period.
