Maldives' GDP fell by 5.5 percent in April compared to March.
According to the National Bureau of Statistics, Maldives GDP was at MVR 9.1 billion in March and MVR 9.6 billion in February.
Due to the ongoing war in the Middle East, the number of tourists traveling to Maldives has significantly gone down as well. Tourist numbers have gone down by 20 to 25 percent in March and April. The number of tourists traveling to Maldives has gone down to 8.4 percent in May as of yet.
The main contributor to the growth of the Maldivian economy is the tourism industry. Any changes to the tourism industry will directly affect the growth of the Maldivian economy as well.
While GDP has gone down in March this year, there has been an increase when comparing March 2025 to March 2026. The GDP rate in March 2025 was at MVR 8.8 billion.
About 20 percent of the decline recorded in March was attributed to the tourism industry, amounting to MVR 1.9 billion. Production levels also fell by 21 percent compared to February. Meanwhile, when compared with March 2024, March 2025 showed a further 10 percent decrease.
The productivity of transport and communication services has fallen by 10.7 percent compared to the previous month. However, the trading, financial, fishing and construction sectors have seen growth in March. But when taking the GDP into account, these contributions are low in comparison.
Maldives' production rate was at MVR 10 billion in January 2026, which is the most significant economic growth for Maldives in the last two years. The economic production rate in the first three months of 2026 was at MVR 28.7 billion. This is an MVR 1.1 billion increase when compared to the first three months of 2025.
