Economy Grows by 0.4% – Key Sectors Drive Maldives GDP

The data, published in the Monthly Indicators of Economic Growth (MIEG) report, offers timely insights into the country’s economic performance using a production-based approach aligned with international standards.

Public administration led the way with a 1.4% contribution to GDP growth, followed by real estate at 0.8% and the human health and social work sector at 0.4%. These sectors were the main drivers of growth during the month.

In contrast, fisheries showed a sharp decline, contributing -1.3%, while construction and manufacturing each dropped by -0.3%.
Despite modest overall growth, the accommodation and food services sector remained the largest part of the economy in March, making up 24.1% of GDP. Transportation and communication followed at 13.1%, with real estate at 9%.

At the lower end of the scale, professional, scientific and technical services, along with agriculture, continued to contribute minimally, though both sectors showed consistent performance.
The MBS releases GDP estimates monthly, with a 45-day delay from the reference period. These figures are subject to revision with quarterly GDP updates.