Male’ , Maldives – Statistics publicized by the Ministry of Finance reveal that the GDP increased by eight billion within the first three months of 2021.
By the end of December 2020, productivity was recorded to be only MVR 57 billion. However, by the end of March, the figure increased to MVR 66 billion.
Maldivian GDP suffered a significant blow during 2020, after months of travel restrictions imposed to contain the global pandemic COVID-19. During that period, the average income per person falls from USD 10,000 to USD 6,000.
With the recovering economy, Maldives Monetary Authority (MMA) predicts that by the end of this year, the average income per person will be at USD 7,500.
Maldivian economy heavily relies on the tourism industry. Tourist arrivals were increasing with 2021, but after the most recent surge, numbers have dropped yet again. While daily arrivals were at 3,000 in the first three months, this has currently dropped to 1,500.
Prior to the economic demise due to COVID-19, Maldivian productivity was on the rise from 2015 to 2019, with an increase from USD 63 billion to USD 86 billion in that time.