Maldives Monetary Authority (MMA) reports the country’s real GDP observes growth by 19.3% by Q1-2022.
This rise is in comparison with the corresponding quarter of 2021, reports MMA. Additionally, annual real GDP for the review quarter is 3.1% higher than pre-pandemic levels at Q1-2019.
The upturn in annual real GDP growth during the review quarter is mainly driven from the tourism sector, “largely mirroring the base effect of the gradual pickup in tourist arrivals.”
Other economic sectors reflect positive performances as well. Transportation and communication, human health and social work activities remain progressive. Construction industry, which saw activity drop in 2020 saw positive growth as well.
Annual real GDP of the Maldives went up by 37.1% in 2021 after a decline of 33.5% in 2020.