Economy grew 2.4% in August, led by finance, trade and construction

Economic output in August was MVR 9.64 billion, 2.4 percent higher than the MVR 9.41 billion recorded in August 2025, according to the Monthly Indicators of Economic Growth report published by the Maldives Bureau of Statistics on 15 October. Output was also 5.4 percent higher than in July. Activity had dipped in June before recovering over the following two months. Financial and insurance services grew fastest, up 21.9 percent to MVR 748 million on higher transaction volumes and insurance activity. Wholesale and retail trade rose 8.1 percent to MVR 864 million, and construction grew 10.4 percent to MVR 487 million. Hospitality remained the largest single sector, contributing MVR 2.23 billion, or 23.1 percent of output. It was 10.6 percent higher than in July on an increase in tourist bed-nights, and 0.7 percent above August last year. Transport and communication accounted for 11.7 percent of the economy. August output was 11.4 percent above the MVR 8.65 billion recorded in August 2024.