Maldives economy tracker
The Maldives Monetary Authority’s statistics, charted over their whole record and explained in plain terms: what the latest figure is, how it compares with a year ago, and where the long-run trend sits.
The Maldives Monetary Authority’s statistics, charted over their whole record and explained in plain terms: what the latest figure is, how it compares with a year ago, and where the long-run trend sits.
Gross domestic product (GDP) is the value of everything the economy produces. The "real" series strip out price changes, so they show whether output itself grew; the nominal series are in the prices of the day. Quarterly and monthly figures are the timeliest reading, and annual figures are the benchmark they are later reconciled to.
Monthly Gross Domestic Product (Constant Prices)
MVR 9.21bn
Jul 2026 · +2.8% on a year earlier
Production Approach › Memorandum Items
6.32%
2025 · +2.89 pp on a year earlier
Production Approach › Quarterly Nominal GDP
MVR 29.1bn
Q2 2026 · +4.6% on a year earlier
Total GVA at basic prices › Tertiary
MVR 4.56bn
Q2 2026 · −14.3% on a year earlier
Output each quarter, in total and by industry, at constant prices. Compare a quarter with the same quarter a year earlier: tourism makes some quarters reliably busier than others. Gross value added (GVA) is output by industry; adding taxes on products and subtracting subsidies gives GDP at market prices.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| GDP at market price | MVR 25.15bn | Q2 2026 | 0.0% |
| Taxes less subsidies | MVR 2.68bn | Q2 2026 | −2.5% |
| Total GVA at basic prices | MVR 22.47bn | Q2 2026 | +0.3% |
| Primary | MVR 672.1m | Q2 2026 | −39.7% |
| Secondary | MVR 2.37bn | Q2 2026 | +14.8% |
| Tertiary | MVR 19.43bn | Q2 2026 | +1.1% |
| Agriculture | MVR 243m | Q2 2026 | +0.2% |
| Fisheries | MVR 429.1m | Q2 2026 | −50.8% |
| Manufacturing | MVR 403.9m | Q2 2026 | −13.9% |
| Electricity, water and waste management | MVR 577.8m | Q2 2026 | +3.9% |
| Construction | MVR 1.39bn | Q2 2026 | +33.7% |
| Wholesale and retail trade | MVR 2.45bn | Q2 2026 | +14.4% |
| Tourism | MVR 4.56bn | Q2 2026 | −14.3% |
| Transportation and communication | MVR 3.06bn | Q2 2026 | −1.2% |
| MVR 2.13bn | Q2 2026 | +21.7% | |
| MVR 2.45bn | Q2 2026 | +9.4% | |
| MVR 250.2m | Q2 2026 | +12.4% | |
| MVR 2.03bn | Q2 2026 | +0.5% | |
| MVR 954m | Q2 2026 | +5.3% | |
| MVR 997.4m | Q2 2026 | +13.8% | |
| MVR 546.1m | Q2 2026 | −14.9% | |
| MVR 29.1bn | Q2 2026 | +4.6% | |
| US$1,887.21 | Q2 2026 | +4.6% |
A monthly estimate of real GDP, split into primary (farming and fishing), secondary (manufacturing, utilities, construction) and tertiary (services) activity. It is the earliest signal of where output is heading and is more volatile than the quarterly figures.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| GDP at market price | MVR 9.21bn | Jul 2026 | +2.8% |
| Taxes less subsidies | MVR 990.3m | Jul 2026 | −2.3% |
| Total GVA at basic prices | MVR 8.22bn | Jul 2026 | +3.4% |
| Primary | MVR 246.7m | Jul 2026 | −33.9% |
| Secondary | MVR 884.3m | Jul 2026 | +22.5% |
| Tertiary | MVR 7.09bn | Jul 2026 | +3.4% |
The yearly benchmark: real and nominal GDP, the growth rate, GDP in US dollars and per person. A figure for the current year is an estimate or projection until the year is complete, and is marked as such.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| GDP at Market price | MVR 107.1bn | 2025 | +6.3% |
| Taxes less subsidies | MVR 12.13bn | 2025 | +10.4% |
| Total GVA at basic prices | MVR 94.97bn | 2025 | +5.8% |
| Primary | MVR 4.02bn | 2025 | +18.3% |
| Secondary | MVR 8.55bn | 2025 | +5.9% |
| Tertiary | MVR 82.4bn | 2025 | +5.3% |
| GDP at Market price | MVR 119.35bn | 2025 | +10.1% |
| Real GDP growth rate | 6.32% | 2025 | +2.89 pp |
| Real GDP (USD) | US$6.95bn | 2025 | +6.3% |
| Nominal GDP (USD) | US$7.74bn | 2025 | +10.1% |
| Nominal GDP per capita (USD) | US$13,321 | 2025 | +8.4% |
| Population | 581,053 | 2025 | +1.6% |
Tourism is the country’s main earner of foreign currency. Arrivals count visitors; bednights count the nights they stay, which is closer to what resorts and guesthouses actually sell; occupancy sets those nights against the beds available. Fisheries, the main goods export, are shown alongside.
The consumer price index (CPI) tracks the cost of a fixed basket of goods and services. The inflation rate is the change in that index over twelve months. Prices are measured for Malé and for the atolls separately as well as nationally, and the three can move differently.
What the government collects, what it spends, and how the gap is financed. The overall balance is revenue and grants minus spending; the primary balance leaves out interest payments, so it shows the budget’s position before the cost of past borrowing. Debt is the accumulated result.
How much money is in the economy, where it comes from, what it costs to borrow, and how sound the banks are. Broad money is currency plus deposits; it expands when banks lend to businesses, households or the government, and when foreign currency flows into the banking system.
The economy’s dealings with the rest of the world: the foreign currency the central bank holds, the goods bought and sold abroad, the wider balance of payments, what is owed to foreign lenders, and the exchange rates at which rufiyaa is converted.
The terms used on every page, in the order a reader meets them.
Figures are published by the Maldives Monetary Authority and the agencies it credits for each series. Good Morning Maldives stores a copy, adds the calculations described on each page, and does not alter the underlying numbers. The data are checked against MMA every day, and each revision MMA makes is kept so the versions can be compared.
Visitors arriving each month, in total and by the region they come from. Arrivals are strongly seasonal, with the northern winter the high season, so the 12-month total is the cleanest measure of the underlying level.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Total tourist arrivals | 195,390 | Aug 2026 | +1.7% |
| Tourist arrivals from Europe | 100,014 | Aug 2026 | +0.5% |
| Tourist arrivals from Asia and The Pacific | 77,621 | Aug 2026 | +3.4% |
| Tourist arrivals from Americas | 5,242 | Aug 2026 | −11.3% |
| Tourist arrivals from Middle East | 10,336 | Aug 2026 | +6.9% |
| Tourist arrivals from Africa | 2,177 | Aug 2026 | +12.3% |
| Tourist arrivals from UN passport holders | 0 | Aug 2026 | — |
| Tourist arrivals from Stateless/not stated | 0 | Aug 2026 | — |
How long visitors stay and how full the beds are. Bednights are arrivals multiplied by length of stay; the occupancy rate is bednights as a share of the bed capacity in operation. Arrivals can rise while bednights lag if stays get shorter. Travel receipts are what visitors spend, in US dollars.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Tourist bednights | 1.3m | Aug 2026 | +0.9% |
| Tourist bednights from Guest houses | 204,522 | Aug 2026 | +7.2% |
| Tourist bednights from Hotels | 20,577 | Aug 2026 | −23.4% |
| Tourist bednights from Resorts | 1m | Aug 2026 | 0.0% |
| Tourist bednights from Safari vessels | 20,343 | Aug 2026 | +20.9% |
| Average stay | 7.4 | Aug 2026 | +5.7% |
| Occupancy rate | 58.94% | Aug 2026 | −2.14 pp |
| Operational bed capacity | 68,506 | Aug 2026 | +4.6% |
| Total number of arrival flights | 1,403 | Aug 2026 | −0.1% |
| Travel receipts | US$392.9m | Jul 2026 | +15.3% |
Fish caught, fish bought by processors, and the volume exported, in metric tonnes. Catches swing with the season and the weather, so single months say little on their own.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Fish catch | 16,418 | Dec 2025 | +59.6% |
| Fresh fish purchases | 2,962.05 | Aug 2026 | −43.2% |
| Fish exports | 4,041.86 | Aug 2026 | −13.4% |
The twelve-month change in consumer prices nationally, with the food, housing and transport components that most often drive it. A lower rate means prices are rising more slowly, not falling; only a negative rate means prices are lower than a year before.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Inflation rate | 0.76% | Aug 2026 | −3.35 pp |
| Food and beverages | 5.69% | Aug 2026 | +1.11 pp |
| Housing, water, electricity, gas and other fuels | 0.68% | Aug 2026 | +3.73 pp |
| Transport | 8.06% | Aug 2026 | +8.59 pp |
The index itself and its thirteen spending divisions. The level has no meaning on its own (it is set to 100 in a base period); what matters is how fast it changes. Divisions carry different weights, so a large move in a small division barely shifts the total.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Total index | 108.8 | Aug 2026 | +0.8% |
| Food and beverages | 123.1 | Aug 2026 | +5.7% |
| Tobacco and araca nut | 163.4 | Aug 2026 | −26.2% |
| Clothing and footwear | 102.8 | Aug 2026 | +0.3% |
| Housing, water, electricity, gas and other fuels | 99.7 | Aug 2026 | +0.7% |
| Furnishing household equipments. carpets, and other floor coverings | 103.6 | Aug 2026 | +0.7% |
| Health | 110.3 | Aug 2026 | +0.8% |
| Transport | 109.9 | Aug 2026 | +8.1% |
| Information and communication | 82.4 | Aug 2026 | +0.6% |
| Recreation, sport and culture | 104 | Aug 2026 | +2.3% |
| Education services | 107.1 | Aug 2026 | +0.3% |
| Restaurants and accommodation services | 114.4 | Aug 2026 | +1.9% |
| Insurance and financial services | 110.7 | Aug 2026 | 0.0% |
| Personal care, social protection and miscellaneous goods and services | 109.9 | Aug 2026 | +1.4% |
The same index and inflation rate measured separately for the capital and for the atolls, where the mix of spending differs.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Total index | 107.1 | Aug 2026 | 0.0% |
| Inflation rate | 0.04% | Aug 2026 | −3.07 pp |
| Total index | 111.3 | Aug 2026 | +1.8% |
| Inflation rate | 1.83% | Aug 2026 | −3.80 pp |
The world price of crude oil in US dollars a barrel. Fuel is imported, so this feeds into the import bill, electricity and transport costs.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Crude oil prices | US$84.4 | Aug 2026 | +26.5% |
Money received by the government each month: taxes (chiefly goods and services tax, business and property taxes, and import duties), non-tax revenue such as fees, rents and dividends, and grants from abroad. Receipts are lumpy because some taxes fall due in particular months; year-to-date totals are the fair comparison.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Total revenue and grants | MVR 3.58bn | Jul 2026 | −5.8% |
| Tax revenue | MVR 3.02bn | Jul 2026 | −8.2% |
| Non-tax revenue | MVR 542.9m | Jul 2026 | +11.7% |
| Capital receipts | MVR 341,575 | Jul 2026 | +13.5% |
| Grants | MVR 17.7m | Jul 2026 | −27.4% |
| Import duty | MVR 237.2m | Jul 2026 | −0.6% |
| Export duty | MVR 0 | Jul 2026 | — |
| Business and property tax | MVR 1.58bn | Jul 2026 | −5.5% |
| Goods and services tax | MVR 927.6m | Jul 2026 | −13.5% |
| Royalties | MVR 23.3m | Jul 2026 | +166.2% |
| Other taxes and duties | MVR 254.4m | Jul 2026 | −15.2% |
| Fees and charges | MVR 257.7m | Jul 2026 | +4.0% |
| Registration and licence fees | MVR 93.4m | Jul 2026 | −25.7% |
| Property income | MVR 152.9m | Jul 2026 | +MVR 82.9m |
| Fines and penalties | MVR 16.5m | Jul 2026 | −18.8% |
| Interest, profit and dividends | MVR 19.3m | Jul 2026 | +MVR 16.3m |
| Other non-tax revenues | MVR 3.1m | Jul 2026 | −MVR 16.3m |
What the government spends: recurrent spending (salaries, pensions, subsidies, interest and running costs) and capital spending (buildings, infrastructure, equipment). The overall balance is revenue minus this total; a negative figure is a deficit that has to be borrowed.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Total recurrent and capital expenditure | MVR 3.18bn | Jul 2026 | −11.9% |
| Recurrent expenditure | MVR 2.94bn | Jul 2026 | −1.1% |
| Capital expenditure | MVR 245m | Jul 2026 | −61.9% |
| Salaries, wages and pensions | MVR 1.38bn | Jul 2026 | +13.4% |
| Administrative and operational expenses | MVR 1.56bn | Jul 2026 | −11.0% |
| Losses and write-offs | MVR 101,832 | Jul 2026 | −MVR 1.1m |
| Capital equipments | MVR 48.9m | Jul 2026 | −7.8% |
| Infrastructure assets | MVR 196.1m | Jul 2026 | −66.8% |
| Development projects and capital transfers | MVR 0 | Jul 2026 | — |
| Overall balance (surplus / deficit) | MVR 400.7m | Jul 2026 | +MVR 210.1m |
| Primary balance (surplus / deficit) | MVR 627.5m | Jul 2026 | +MVR 37m |
| Loan repayment | MVR 144.7m | Jul 2026 | −76.4% |
Debt owed by the central government plus debt it has guaranteed for others, split into domestic and external. The ratio to GDP sets the debt against the size of the economy that has to service it. Reported quarterly, at the end of each quarter.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Total outstanding | MVR 152.78bn | Q2 2026 | +2.5% |
| Domestic | MVR 97.35bn | Q2 2026 | +12.4% |
| External | MVR 55.42bn | Q2 2026 | −11.2% |
| Central Government | MVR 96.77bn | Q2 2026 | +12.8% |
| Guaranteed | MVR 579.8m | Q2 2026 | −27.0% |
| Central Government | MVR 36.86bn | Q2 2026 | −12.4% |
| Guaranteed | MVR 18.56bn | Q2 2026 | −8.7% |
| Total outstanding debt in percent of GDP | 122.7% | Q2 2026 | −2.09 pp |
| Domestic debt in percent of GDP | 78.22% | Q2 2026 | +5.68 pp |
| External debt in percent of GDP | 44.53% | Q2 2026 | −7.77 pp |
Who holds the government’s domestic debt, and the treasury bills issued, repaid and outstanding each month. Treasury bills are short-term borrowing that must be rolled over, so the outstanding amount and its maturity mix show how much refinancing is always due.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Claims on central government | MVR 96.18bn | Jun 2026 | +12.4% |
| Outstanding treasury bills and Islamic instruments | MVR 54.36bn | Jun 2026 | +11.1% |
| Outstanding treasury bonds | MVR 41.76bn | Jun 2026 | +14.0% |
| Outstanding loans and advances | MVR 62m | Jun 2026 | +106.8% |
| T-bills outstanding | MVR 54.36bn | Jun 2026 | +11.1% |
| Outstanding 1 Month Treasury Bills | MVR 5.17bn | Jun 2026 | +68.3% |
| Outstanding 3 Month Treasury Bills | MVR 3.85bn | Jun 2026 | +17.7% |
| Outstanding 6 Month Treasury Bills | MVR 3.89bn | Jun 2026 | −50.8% |
| Outstanding 9 Month Treasury Bills | MVR 0 | Jun 2026 | — |
| Outstanding 1 Year Treasury Bills | MVR 41.45bn | Jun 2026 | +19.5% |
| T-bill issuance | MVR 4.86bn | Jul 2021 | +68.4% |
| T-bills matured | MVR 3.36bn | Jul 2021 | +20.0% |
The interest rate the government pays on treasury bills of each maturity. These are the nearest thing to a benchmark interest rate for rufiyaa lending.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Interest rate of 1 Month Treasury Bills | 3.5% | Aug 2026 | 0.00 pp |
| Interest rate of 3 Month Treasury Bills | 3.87% | Aug 2026 | 0.00 pp |
| Interest rate of 6 Month Treasury Bills | 4.23% | Aug 2026 | 0.00 pp |
| Interest rate of 1 Year Treasury Bills | 4.6% | Aug 2026 | 0.00 pp |
Narrow money is currency in circulation plus deposits that can be spent on demand; adding savings, time and foreign-currency deposits gives broad money. The dollarization ratio is the share held in foreign currency. The monetary base is the central bank’s own money: currency plus the reserves banks hold with it.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Broad money | MVR 79.51bn | Aug 2026 | +20.8% |
| Narrow money | MVR 30.66bn | Aug 2026 | +19.2% |
| Quasi money | MVR 48.85bn | Aug 2026 | +21.8% |
| Currency outside depository corporations | MVR 4.42bn | Aug 2026 | +15.2% |
| Transferable deposits | MVR 26.23bn | Aug 2026 | +19.8% |
| In national currency | MVR 16.02bn | Aug 2026 | +33.2% |
| In foreign currency | MVR 32.83bn | Aug 2026 | +16.9% |
| Securities other than shares included in broad money | MVR 0 | Aug 2026 | — |
| Dollarization ratio | 41.29% | Aug 2026 | −1.36 pp |
| Monetary base | MVR 13.3bn | Sep 2026 | +12.9% |
| Currency in circulation | MVR 5.22bn | Sep 2026 | +15.7% |
| Liabilities to other depository corporations | MVR 8.08bn | Sep 2026 | +11.1% |
| Liabilities to other sectors | MVR 0 | Sep 2026 | — |
The other side of the banking system’s balance sheet: what broad money is backed by. Net foreign assets are foreign-currency holdings less foreign liabilities; net domestic assets are mainly lending to the government and to the private sector. Rising claims on government mean the banking system is financing more of the deficit.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Net foreign assets | MVR 3.09bn | Aug 2026 | −MVR 4.33bn |
| Central bank | MVR 3.77bn | Aug 2026 | −26.7% |
| Other depository corporations | −MVR 681.9m | Aug 2026 | −MVR 2.96bn |
| Net domestic assets | MVR 76.42bn | Aug 2026 | +30.8% |
| Domestic claims | MVR 109.22bn | Aug 2026 | +26.1% |
| Other items (net) | −MVR 32.8bn | Aug 2026 | −MVR 4.59bn |
| Net claims on central government | MVR 55.19bn | Aug 2026 | +25.1% |
| Claims on other sectors | MVR 54.03bn | Aug 2026 | +27.1% |
| Claims on other financial corporations | MVR 1.73bn | Aug 2026 | +224.3% |
| Claims on public nonfinancial corporations | MVR 9.39bn | Aug 2026 | +73.4% |
| Claims on private sectors | MVR 42.92bn | Aug 2026 | +17.4% |
Loans and advances outstanding from banks and other lenders, by the industry of the borrower. It shows where credit is concentrated and which activities are borrowing more.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Total loans and advances | MVR 51.42bn | Aug 2026 | +15.6% |
| Agriculture | MVR 9.9m | Aug 2026 | −48.2% |
| Fishing | MVR 937.7m | Aug 2026 | +56.8% |
| Manufacturing | MVR 64.4m | Aug 2026 | −58.7% |
| Construction | MVR 10.47bn | Aug 2026 | +28.0% |
| Real estate | MVR 3.49bn | Aug 2026 | −18.2% |
| Tourism | MVR 13.86bn | Aug 2026 | +5.4% |
| Commerce | MVR 5.74bn | Aug 2026 | +33.0% |
| Transport and communication | MVR 5bn | Aug 2026 | +40.8% |
| Electricity, gas, water and sanitary services | MVR 541.8m | Aug 2026 | +70.8% |
| Personal loans | MVR 9.26bn | Aug 2026 | +10.9% |
| Other loans and loans not adequately described | MVR 2.06bn | Aug 2026 | +29.1% |
The rates the central bank sets (its policy rate, the reserve requirements and its standing facilities) and the average rates commercial banks charge on loans in rufiyaa and in foreign currency.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Indicative Policy Rate | 4% | Aug 2026 | 0.00 pp |
| Local currency MRR rate | 10.5% | Aug 2026 | +0.50 pp |
| Foreign currency MRR rate | 5% | Aug 2026 | 0.00 pp |
| Standing deposit facility interest rate | 0.25% | Aug 2026 | −0.25 pp |
| Standing lending facility interest rate | 7% | Aug 2026 | 0.00 pp |
| Interest rate of local currency private sector loans and advances | 10.26% | Aug 2026 | −1.40 pp |
| Interest rate of foreign currency private sector loans and advances | 8.25% | Aug 2026 | −0.04 pp |
The standard international indicators of bank health. Capital ratios measure the cushion against losses; the non-performing loan ratio is the share of lending in arrears; provisions show how much of that is already covered; return on assets and equity measure profitability; liquidity ratios measure the ability to meet withdrawals.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Regulatory capital to risk-weighted assets | 41.21% | Jul 2026 | −8.55 pp |
| Tier 1 capital to risk-weighted assets | 36.38% | Jul 2026 | −7.72 pp |
| Nonperforming loans to total gross loans | 3.67% | Jul 2026 | −3.63 pp |
| Provisions to nonperforming loans | 80.91% | Jul 2026 | +30.05 pp |
| Return on assets | 4.87% | Jul 2026 | +0.24 pp |
| Return on equity | 15.59% | Jul 2026 | +1.97 pp |
| Liquid assets to total assets | 15.84% | Jul 2026 | −4.01 pp |
| Liquid assets to short-term liabilities | 25.86% | Jul 2026 | −7.08 pp |
| Customer deposits to total (noninterbank) loans | 129.7% | Jul 2026 | −2.32 pp |
| Foreign-currency-denominated loans to total loans | 45.96% | Jul 2026 | −0.94 pp |
| Credit growth to private sector | 15.84% | Jul 2026 | +9.83 pp |
The foreign currency and other reserve assets held by the central bank, in US dollars. Reserves pay for imports and foreign debt in a crisis. Short-term net drains are payments already committed within a year, so headline reserves overstate what is freely usable.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Official reserve assets | US$547.8m | Sep 2026 | −36.3% |
| Foreign currency reserves | US$532.6m | Sep 2026 | −37.5% |
| IMF reserve position | US$6.5m | Sep 2026 | −0.8% |
| SDRs | US$308,886 | Sep 2026 | −24.8% |
| Gold | US$8.4m | Sep 2026 | — |
| Other reserve assets | US$0 | Sep 2026 | — |
| Other foreign currency assets | US$149m | Sep 2026 | +27.7% |
| Predetermined short-term net drains | −US$527m | Sep 2026 | +US$254.8m |
Goods exported and imported each month, in US dollars, with imports broken down by type. The country imports far more goods than it exports; the gap is paid for mainly by tourism, which is a service and is not counted here.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Export of goods | US$41.3m | Aug 2026 | +42.1% |
| Domestic exports | US$8.8m | Aug 2026 | −8.8% |
| Re-exports | US$32.5m | Aug 2026 | +67.5% |
| Import of goods | US$419.3m | Aug 2026 | +32.5% |
| Import of food items | US$73.6m | Aug 2026 | +7.7% |
| Import of furniture, fixtures and fittings | US$15.2m | Aug 2026 | +23.5% |
| Import of electronic and electrical appliances | US$4.8m | Aug 2026 | +19.1% |
| Import of petroleum products | US$125.4m | Aug 2026 | +108.8% |
| Import of transport equipments and parts | US$19.7m | Aug 2026 | −40.8% |
| Import of wood, metal, cement and aggregates | US$45.5m | Aug 2026 | +29.8% |
| Import of machinery, mechanical appliances and parts | US$33.1m | Aug 2026 | +60.3% |
| Import of electrical, electronic machinery, equipments and parts | US$29.4m | Aug 2026 | +99.8% |
| Import of other items | US$72.6m | Aug 2026 | +6.6% |
The full annual account of transactions with the rest of the world. The current account adds trade in goods and services to income and transfers; a deficit has to be financed by investment, borrowing or drawing on reserves, which the financial account records.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Current account balance | −US$476.2m | 2025 | +US$777.4m |
| Balance on goods and services | US$949.7m | 2025 | +US$877.4m |
| Balance on primary income | −US$772.7m | 2025 | −US$21.6m |
| Balance on secondary income | −US$653.3m | 2025 | −US$78.3m |
| Balance on goods | −US$2.96bn | 2025 | +US$121.2m |
| Balance on services | US$3.91bn | 2025 | +24.0% |
| Export of goods | US$443.7m | 2025 | +15.9% |
| Import of goods | US$3.4bn | 2025 | −1.7% |
| Export of services | US$5.8bn | 2025 | +15.2% |
| Import of services | US$1.89bn | 2025 | +0.6% |
| Capital account balance | US$0 | 2025 | — |
| Financial account (excluding reserve and related items) | −US$954.4m | 2025 | +US$255.2m |
| Direct investment | −US$857.1m | 2025 | −US$50.9m |
| Portfolio investment | US$24.1m | 2025 | +US$20.2m |
| Other investment | −US$121.4m | 2025 | +US$285.9m |
| Net errors and omissions | −US$167.9m | 2025 | −US$296.3m |
| Overall balance | US$310.2m | 2025 | +US$225.9m |
| Reserve and related items | US$310.2m | 2025 | +US$225.9m |
| Export of goods and service | US$6.24bn | 2025 | +15.3% |
| Current account balance in percent of GDP | −6.15% | 2025 | +11.69 pp |
What the government, the borrowers it guarantees and the banks owe to foreign creditors, and what the government pays each period in principal and interest. Debt service is the call on foreign currency that reserves and export earnings have to meet.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| Total external debt outstanding | US$3.96bn | Q2 2026 | −9.8% |
| Central government and publicly guaranteed external debt | US$3.59bn | Q2 2026 | −11.2% |
| Other depository corporations | US$365m | Q2 2026 | +6.7% |
| Total external debt outstanding in percent of GDP | 49.05% | Q2 2026 | −7.67 pp |
| Disbursements of central government external debt | US$92m | Q2 2026 | +205.2% |
| Debt service of central government external debt | US$542.7m | Q2 2026 | +1,187.1% |
| Principal repayments of central government external debt | US$509.2m | Q2 2026 | +5,096.8% |
| Interest payments on central government external debt | US$33.5m | Q2 2026 | +3.5% |
| Debt service ratio of central government | 5.51% | 2025 | +1.34 pp |
Rufiyaa per unit of each foreign currency. The US dollar rate is held almost fixed, so movements against other currencies mostly reflect how those currencies move against the dollar.
| Series | Latest | Period | On a year earlier |
|---|---|---|---|
| United States dollar | — | — | — |
| MVR per USD (average) | MVR 15.42 | Sep 2026 | 0.0% |
| Euro | MVR 18.07 | Sep 2026 | −3.3% |
| Great Britain pound | MVR 21.66 | Sep 2026 | −1.5% |
| Indian rupee | MVR 0.17 | Sep 2026 | −9.8% |
| Chinese yuan | MVR 2.28 | Sep 2026 | +6.3% |
| Singapore dollar | MVR 12.83 | Sep 2026 | +1.0% |
| Japanese yen | MVR 0.1 | Sep 2026 | −5.1% |
| MVR per SDR | MVR 20.97 | Sep 2026 | −0.8% |