According to the high frequency indicators, both the construction sector and the real estate sector are estimated to have observed growths in annual terms during the first quarter of the year, central bank, Maldives Monetary Authority (MMA) figures have shown.
According to MMA’s Quarterly Economic Bulletin, , the import expenditure on construction-related items rose by 16 percent, while commercial bank credit to the construction sector registered an annual increase of 13 percent during the review quarter.
The growth in commercial bank credit, the report said, was mainly owing to the rise in credit provided for real estate of residential or housing projects, construction of property development projects, construction of other projects, renovation of resorts and construction of commercial buildings.
The growth was partly offset by the significant decline observed in credit
extended to construction of residential or housing projects as well as credit extended to other real estate projects, the report said.
In addition to construction, the mainstays of Maldives’ economy - tourism and fisheries - had also posted growth in the first quarter of 2025.
During the first quarter of 2025, fish purchases totalled 24,902.3 metric tonnes, posting an annual growth of five percent (1,258.0 metric tonnes) when compared with the corresponding quarter last year.
As for tourism, total tourist arrivals reached 632,422 during the first quarter—the highest ever tourist arrivals recorded during a quarter—with total tourist arrivals increasing in both annual and quarterly terms.
Accordingly, tourist arrivals registered a five percent growth when compared with the corresponding quarter of 2024 and by 14 percent.
The growth in total tourist arrivals was primarily driven by the increase in
arrivals from the top source markets of Europe and China, the report said.