The Maldivian economy advanced by 2.4 per cent in August 2026, driven primarily by growth in the financial services sector, alongside gains in real estate and wholesale and retail trade, according to figures from the Maldives Bureau of Statistics.
The Bureau's Monthly Indicators of Economic Growth report, published on 15 October, valued economic activity at approximately USD 625.16 million, compared with USD 610.25 million a year earlier. This also represented growth of 5.4 per cent from July.
Financial services led the expansion, growing by 21.9 per cent to approximately USD 48.51 million, supported by increased financial transactions and insurance services.
Wholesale and retail trade rose by 8.1 per cent to USD 56.03 million, while construction expanded by 10.4 per cent to USD 31.58 million. Real estate activities also recorded significant growth.
The report further noted that hospitality and food services, which include tourism-related activities, remained the economy's largest sector, accounting for 23.1 per cent of economic activity.
The sector generated approximately USD 144.62 million, up 0.7 per cent from August last year and 10.6 per cent from July. The report attributed this growth to an increase in the number of nights tourists spent in the Maldives.
Transport and communication services accounted for a further 11.7 per cent of the economy.
Meanwhile, the Maldives Bureau of Statistics reported that the value of economic activity reached approximately USD 652.40 million in August, the first time it had reached this level since January.
It reported growth of 11.4 per cent compared with August 2024, when economic activity stood at approximately USD 557.72 million.
Overall, economic activity strengthened during July and August following a decline in June.