The Maldivian economy continued to expand in August 2026, supported by strong performances in financial services, real estate, trade and tourism-related activities, according to the latest Monthly Indicators of Economic Growth released by the Maldives Bureau of Statistics.
Economic activity increased by 2.4 percent compared with August 2025 and recorded a stronger 5.4 percent rise from July 2026, reflecting continued momentum across several important areas of the economy. The Monthly Indicators of Economic Growth measure production across major sectors using constant 2019 prices, allowing changes in economic activity to be assessed without the impact of price movements.
Financial services emerged as the strongest contributor to annual economic growth during the month. Activity in the sector increased by 21.9 percent compared with August last year, contributing 1.4 percentage points to overall growth. The performance was supported by expansion in financial intermediation and insurance services, highlighting the growing role of the financial sector in supporting businesses, investment and wider economic activity.
Real estate activities contributed a further 0.8 percentage points to annual growth, while wholesale and retail trade added 0.7 percentage points. Trade activity increased by 8.1 percent compared with August 2025 and recorded a significant 25 percent increase from July, with changes in import volumes identified as an important factor behind the expansion.
Tourism-related accommodation and food services continued to represent the largest component of measured economic activity, accounting for 23.1 percent of the total. The sector grew by 0.7 percent compared with August last year and by 10.6 percent from July 2026, supported mainly by an increase in tourist bed-nights.
The performance further demonstrates the importance of the Maldives’ resort and hospitality industry to the national economy. Resorts across the country’s island destinations continue to generate economic activity through accommodation, transport, food services, supply chains and employment, while also supporting businesses in other sectors. Continued growth in tourist bed-nights during August contributed positively to the month’s overall economic performance and reinforces the Maldives’ position as a leading international tourism destination.
The Government has continued to place tourism development, investment, connectivity and economic diversification among its key economic priorities, while working to strengthen sectors that support the country’s tourism-led economy. Growth in financial services, property, trade and construction also indicates broader economic activity surrounding investment and development.
Construction activity was 10.4 percent higher than in August 2025, while electricity, water and waste-management activities increased by 8.8 percent. Construction, however, declined by 9.7 percent compared with July, demonstrating the month-to-month variations that can occur across major development sectors.
Fisheries recorded the largest decline during the month, with activity falling by 65.6 percent compared with August 2025 and reducing overall annual economic growth by 2.1 percentage points. The sector’s share of total measured economic activity consequently declined from 3.2 percent to 1.1 percent. Fisheries activity was also 35.6 percent lower than in July. Manufacturing made a smaller negative contribution, reducing overall growth by 0.2 percentage points.
Despite the significant contraction in fisheries, growth in financial services, real estate, trade, construction and tourism-related activities enabled the overall economy to remain on an expansionary path. The 5.4 percent month-on-month increase also indicates stronger economic activity in August compared with the previous month.
The latest figures underline the increasingly diversified sources supporting economic growth in the Maldives, while tourism remains the country’s largest measured sector. Stronger financial-sector activity, expanding trade and continued demand across the hospitality industry are providing important support to the wider economy as the Government continues efforts to strengthen investment, infrastructure and long-term economic resilience.
The Maldives Bureau of Statistics noted that the monthly estimates remain subject to revision as additional information becomes available and as the series is aligned with the country’s quarterly national accounts.
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