Maldives Economic OutlookNovember 2017

Summary

The numbers on the Maldivian economy available in December 2017 indicates that Maldivian economy is growing at 6% as estimated. Tourism is on an accelerated growth trend, while inflation slows down. Government expenditure is lower compared to previous years, probably due to financing difficulties faced in the domestic market as evidenced by dwindling treasury bills balance, despite increasing excess liquidity in the financial market.

Inflation (0.62)

The inflation of Maldives in November 2017 is 0.6% (compared to the corresponding month of previous year). Inflation is on a decelerating trend since May 2017.

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Government Finances

Revenue : MVR 1150.48 Million

Expenditure : MVR 1507.63 Million

The latest available data shows that the total government revenue for November 2017 fell by 6.0%. The revenue for November 2017 MVR 1,150 million. Year-to-date revenue till November 2017 is MVR 18,292 million. The total government expenditure for November 2017 fell by 55.4%. The expenditure for November 2017 MVR 1,508 million. Year-to-date expenditure till November 2017 is MVR 18,015 million.

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Imports

Imports (C.I.F) : USD 193.98 Million

Imports increased by 1.8% in November 2017 compared to the corresponding month of the previous year.

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Exports

Exports (C.I.F) : USD 27.54 Million

Exports increased by 46.5% in November 2017.

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Tourism

Tourist Arrivals : 120.51 (Thousands)

Bednights : 755.16 (Thousands)

Tourist arrivals increased by 15.2% and bed nights increased by 15.8% in November 2017 compared to the corresponding month of the previous year, indicating a strong growth in the industry. The outlook of the industry remains positive and is expected to keep the momentum.

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Fisheries

Fish Purchase : 7920.02 (mt)

Fish Exports increased by 63.9% in November 2017.

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