Calculations from the Maldives Bureau of Statistics have shown that economic growth has gone up by 2.4 percent from January 2026 to August 2026, compared to January 2025 to August 2025.
When looking at the calculations, the growth comes from industrial growth in the form of financial services, the real estate business, and the wholesale and retail business.
According to the bureau's "Monthly Indicates of Economic Growth" (MIEG) report, which assesses progress and was shared yesterday, Maldives' economic growth was at MVR 9.64 billion in August 2026. This is an increase compared to the same time frame last year, which was at MVR 9.41 billion. This is also an increase of 5.4 percent in comparison to July 2026.
The financial service industry is the largest contributor to economic growth. The report highlighted significant economic growth from real estate activities, and the wholesale and retail business industry.
As per the statistics, the financial service industry grew by 21.9 percent at MVR 748 million. This change was due to the increase in financial transactions and insurance services.
Additionally, the wholesale and retail business has grown by 8.1 percent to MVR 864 million, with the construction business having grown by 10.4 percent to MVR 487 million.
When looking at the hospitality and food services industry, the biggest sector in the economy, it had a growth of 23.1 percent. The industry brought in MVR 2.23 billion, which is a 0.7 percent increase compared to August 2025. This is also a 10.6 percent increase compared to July 2026. This growth comes from the increase in the nights spent by tourists coming to Maldives, the report reads.
The transport and communication service industries make up 11.7 percent of the economy.
While economic growth in August 2026 has gone up to MVR 10.06 billion, this is the first time economic growth of such scale has been recorded since January.
Moreover, this is an 11.4 percent increase compared to the MVR 8.65 billion record from August 2024.
Statistics show that after economic activity dropped in June 2026, July 2026 and August 2026 has seen accelerated economic growth.
