Maldives Economy Projected to Grow 5.3 Percent in 2026

The Maldives’ economy is projected to grow by 5.3 percent in real terms in 2026, according to the latest monthly statistics published by the Maldives Monetary Authority (MMA).

The MMA’s August 2026 ‘Monthly Statistics’ places projected nominal Gross Domestic Product (GDP) at MVR 124.46 billion for the year, while real GDP at 2019 constant prices is projected at MVR 111.46 billion. The figures are based on projections prepared by the MMA and the Ministry of Finance and Public Enterprises.

The projected 5.3 percent growth follows an estimated 6.2 percent real GDP growth in 2025, indicating that economic activity is expected to remain on a growth trajectory, although at a slower pace than the previous year.

Tourism continues to account for a major share of economic activity. The statistics show that the tourism sector recorded strong growth in 2025, with the sector expanding by 7.8 percent, while transportation and communication grew by 4.7 percent. The tertiary sector, which includes tourism and several other major service industries, remained the largest component of the Maldivian economy.

The latest figures also show continued pressure on the country’s external position. The projected current account balance for 2026 stands at a deficit of US$627.7 million, equivalent to 7.8 percent of GDP. At the same time, exports of goods and services are projected at approximately US$6.37 billion, against imports of about US$8.07 billion.

On the fiscal side, the government’s 2026 budget projections put total revenue and grants at MVR 40.37 billion, while total expenditure is projected at MVR 49.21 billion, resulting in an overall fiscal deficit of approximately MVR 8.84 billion, or 7.1 percent of GDP.

Tax revenue is projected to remain the government’s primary source of income, with total tax revenue estimated at MVR 31.30 billion. Goods and services tax is projected to contribute MVR 5.62 billion, while GST from tourism is projected at MVR 11.47 billion.

The statistics underline the continued importance of tourism and services to economic growth, while also highlighting persistent fiscal and external-sector challenges facing the Maldives.

The MMA noted that the August edition contains data available as of 31 August 2026.