Spending on Amazon and AliExpress Tops $2 Million, Data Shows Yearly Increase

Maldivians have spent more than $2 million on purchases from Amazon and AliExpress since the start of the year, with newly released data from the Bank of Maldives (BML) showing a steady year-on-year rise in online shopping.

According to statistics shared by the Bank, customers carried out approximately 58,000 transactions on the two global shopping sites between 1 January and 21 February, with total spending reaching USD 2.33 million.

With some rumors about not being able to do online transactions, BML explained that declined payments typically occur when customers attempt transactions exceeding the foreign spending limits attached to their debit or credit cards.

Officials noted that the data reflects a steady rise in the use of international e-commerce platforms among Maldivian customers. The Bank said the volume of purchases highlights growing reliance on global marketplaces for personal consumption as well as small-scale business procurement.

BML also observed that some customers are increasingly using personal debit and credit cards for commercial imports, in certain cases attempting transactions that exceed their declared income levels. The Bank warned that such usage can lead to payment difficulties once monthly foreign transaction limits are reached.

To address these challenges, BML urged customers engaged in commercial activities to utilize Business Banking solutions designed for higher-value transactions and import-related requirements. The Bank said these services provide structured support, including documentation necessary for trade.

Broader figures released by BML show a consistent increase in foreign card transactions over recent years. Total foreign transactions conducted through BML cards, including ATM withdrawals, e-commerce payments, and point-of-sale purchases, reached USD 311 million in 2023, rose to USD 389 million in 2024, and climbed to USD 524 million in 2025. By the end of January this year, foreign card transactions had already totaled USD 59 million.

Approximately 66 percent of these transactions were carried out on e-commerce platforms, underscoring the expanding role of online shopping in international spending patterns.

A Bank official said the existing dollar limits are generally sufficient for routine needs such as travel, airline tickets, hotel bookings, and medical expenses. However, the official cautioned that customers using personal cards for large-scale commercial transactions may face challenges completing payments once limits are exhausted.

BML highlighted that foreign transaction limits for credit cards increased effectively from 1 February this year. Additionally, since November last year, debit card holders have been eligible for a monthly limit of up to USD 3,000 for travel and medical-related foreign transactions, alongside a USD 1,000 monthly limit for foreign point-of-sale payments.

Reaffirming its commitment to facilitating international payments, the Bank said it continues to process hundreds of millions of dollars in foreign card transactions annually while encouraging customers to select appropriate banking channels based on the scale and purpose of their purchases.