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Maldives: Monthly Statistics - April 2018

IM Insights
By IM Insights
5 years ago
Maldives: Monthly Statistics - April 2018

Takaful, Reserves, Sales

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  1. APRIL 2018 VOLUME 19 This issue of the Monthly Statistics contains data available as at 3rd May 2018 *All data refers to 2017 unless otherwise specified Maldives Monetary Authority, Boduthakurufaanu Magu, Male’ - 20182, Republic of Maldives Tel: (960) 3312343, Fax: (960) 3323862, Email: mail@mma.gov.mv, Website: www.mma.gov.mv
  2. List of acronyms and abbreviations mt na y /y {…} avg. pvt. govt. metric tonne not available/not relevant year on year: current month (or review period) compared to corresponding month (or review period) of previous year zero / nil indicates a percentage change is greater than +999.9 or less than -999.9 average private government Real Sector CPI GDP ND consumer price index gross domestic product non durable Fiscal Sector GST SOE goods and services tax state-owned enterprise Financial Sector OFC ODC other financial corporations other depository corporations External Sector SDR c.i.f. f.o.b. nes GIR ST FC special drawing rights cost, insurance and freight free on board not elsewhere specified gross international reserve short term foreign currency
  3. Table of Contents Page No . 1 Selected Economic Indicators, 2012 - 2018 1 2.1 2.2 3.1 3.2 4.1 4.2 5.1 5.2 5.3 5.4 5.5 5.6 Gross Domestic Product, 2012 - 2018 Quarterly Gross Domestic Product, 2012 - 2017 Tourism Indicators, 2012 - 2018 Tourist Arrivals by Nationality, 2012 - 2018 Fish Prices and Production, 2012 - 2018 Volume of Fish Exports, 2012 - 2017 Consumer Price Index - National, 2012 - 2018 Inflation - National, 2012 - 2018 Consumer Price Index - Male', 2012 - 2018 Inflation - Male', 2012 - 2018 Consumer Price Index - Atolls, 2013 - 2018 Inflation - Atolls, 2014 - 2018 3 5 7 8 9 10 11 12 13 14 15 16 6.1 6.2 6.3 6.4 6.5 6.6 Summary of Central Government Finance, 2012 - 2018 Central Government Revenue and Grants , 2012 - 2018 Central Government Expenditure and Net lending, 2012 - 2018 Central Government Revenue and Expenditure, 2016 - 2018 Claims on Central Government by Ownership, 2012 - 2018 Summary of Treasury Bills and Islamic Instruments, 2012 - 2018 17 18 19 20 22 24 7.1 7.2 7.3 7.4 7.5 7.6 7.7 7.8 7.9 8 9 10 Central Bank Survey, 2012 - 2018 Other Depository Corporations Survey, 2012 - 2018 Depository Corporations Survey, 2012 - 2018 Other Financial Corporations Survey, 2012 - 2018 Financial Corporations Survey, 2012 - 2018 Assets and Liabilities of Maldives Monetary Authority, 2012 - 2018 Assets and Liabilities of Other Depository Corporations, 2012 - 2018 Assets and Libilities of Other Financial Corporations, 2012 - 2018 Private Sector Loans and Advances by Other Depository Corporations, 2012 - 2018 Interest Rates, 2012 - 2018 Financial Soundness Indicators, 2012 - 2017 Financial Access Survey, 2004 - 2016 26 28 30 31 32 34 35 36 38 40 41 42 11 12 13.1 13.2 13.3 13.4 13.5 Gross International Reserves, 2012 - 2018 Balance of Payments, 2012 - 2018 Imports and Exports, 2012 - 2017 Composition of Exports, 2012 - 2017 Composition of Imports, 2012 - 2017 Direction of Trade - Exports, 2012 - 2017 Direction of Trade - Imports, 2012 - 2017 43 44 45 46 48 49 50 Real Sector National Accounts Tourism Fisheries Inflation Fiscal Sector Government Finance Statistics Government Domestic Debt Financial Sector Monetary and Financial Statistics Interest rates Financial Soundness Indicators Financial Access Survey External Sector External Assets Balance of Payments External Trade External Debt 14 External Debt and Debt Service, 2011 - 2017 51 Exchange rates 15 Exchange Rates, 2012 - 2018 52
  4. Table 1 . Selected Economic Indicators, 2012 - 2018 Real sector Gross domestic product Period Real GDP growth rate (1) % 1/ Fiscal sector Tourism Nominal GDP (MVR) Nominal GDP (USD) (2) (3) Total tourist arrivals (4) millions Tourist bednights Bednight capacity (5) (6) thousands Average stay Fisheries Inflation Fish purchases National (7) (8) (9) days mt % Total expenditure Overall balance (deficit/surplus) (11) (12) (10) Overall balance as a % of GDP (13) millions of MVR % 2.5 7.3 7.3 44,345.4 50,633.5 56,866.7 2,875.8 3,283.6 3,687.9 958 1,125 1,205 6,611 7,239 7,506 9,809 10,220 10,774 6.9 6.4 6.2 49,492.4 63,090.8 50,511.2 10.9 3.8 2.1 10,138.1 11,900.7 15,164.2 13,200.2 13,666.3 16,539.4 -2,971.9 -1,765.5 -1,375.1 -6.7 -3.5 -2.4 2015 2016 2017 2.2 6.2 6.9 61,565.6 64,919.3 71,676.8 3,992.6 4,210.1 4,648.3 1,234 1,286 1,390 7,323 7,771 8,596 11,471 12,373 14,089 5.9 6.0 6.2 45,235.2 53,876.0 76,620.7 1.0 0.5 2.8 17,306.2 18,578.1 20,814.9 21,440.9 25,306.5 22,228.4 -4,134.7 -6,728.4 -1,413.5 -6.7 -10.4 -2.0 2018 6.0 77,439.4 5,022.0 na na na na na na 22,400.7 24,894.6 -2,493.9 -3.2 Real sector Period Total tourist arrivals (28) Tourist bednights (29) Bednight capacity (30) thousands 2018 Total revenue & grants 2012 2013 2014 Fiscal sector Fisheries Inflation Government finance statistics 3/ Fish purchases National Total revenue & grants (31) (32) (33) days mt % Tourism 2017 Government finance statistics 2/ Average stay (34) Total expenditure (35) Government domestic debt Treasury bills and Islamic instruments 4/ Commercial Banks (36) (37) Treasury bonds Others (38) (39) Loans & advances (40) millions of MVR Apr-17 May-17 Jun-17 120 93 85 742 601 481 1,135 1,186 1,159 6.2 6.4 5.6 7,958.8 7,659.9 4,299.6 4.5 4.6 3.4 1,326.8 1,818.3 1,331.1 1,857.5 1,593.3 1,595.7 13,815.7 13,973.3 13,517.4 9,955.8 10,210.1 9,825.7 3,859.9 3,763.2 3,691.7 9,423.4 9,418.1 9,413.2 3,706.6 3,889.0 4,081.3 Jul-17 Aug-17 Sep-17 113 121 106 688 747 604 1,208 1,211 1,178 6.1 6.2 5.7 5,847.2 3,700.8 3,018.1 3.0 2.7 2.9 2,482.7 1,680.6 1,227.8 2,167.2 2,150.8 1,778.3 12,977.9 12,407.8 12,449.3 9,291.0 8,577.7 8,138.7 3,686.8 3,830.1 4,310.7 9,351.3 9,347.1 9,336.3 4,082.9 3,698.0 3,712.5 Oct-17 Nov-17 Dec-17 128 121 143 795 751 864 1,226 1,194 1,258 6.2 6.2 6.0 6,461.3 8,485.3 7,930.8 0.7 0.6 1.3 1,501.6 1,251.1 1,983.6 1,693.6 2,234.4 3,595.3 12,645.5 13,273.5 14,093.4 8,048.0 8,426.2 8,694.4 4,597.5 4,847.3 5,399.0 9,331.1 9,324.9 9,320.9 3,726.2 3,741.2 3,753.9 Jan-18 Feb-18 Mar-18 142 144 133 941 925 843 1,268 1,142 1,270 6.6 6.4 6.3 8,476.9 5,729.3 6,843.7 1.1 1.0 0.1 2,464.2 1,706.0 1,806.1 1,295.6 1,526.0 1,894.7 14,049.3 14,150.0 14,236.3 8,944.2 9,038.2 9,052.4 5,105.1 5,111.8 5,183.9 9,316.8 9,310.1 9,300.2 3,768.4 3,361.5 3,364.1 Source: National Bureau of Statistics, Ministry of Tourism, Ministry of Fisheries & Agriculture, Ministry of Finance & Treasury, Maldives Monetary Authority, Maldives Customs Service, Maldives Airports Company Limited, Gan International Airport 1/ GDP series has been rebased from base year 2003 to 2014 in November 2017 and broadly complies with the guidelines of SNA 2008. Figures for 2017 and 2018 are projections available as at November 2017 forecasted by Ministry of Finance & Treasury. 2/ Figures for 2016 are actuals and figures for 2017 are revised estimates. Overall balance for 2012 is calculated including net lending. 3/ The figures do not accord with the methodology of IMF's GFS Manual 1986 and these are not comparable with annual figures. 4/ Represent the face value of treasury bills and islamic instruments. 5/ This refers to Financial Corporations Survey. 6/ BOP figures are based on information available as at 11th April 2018 and are compiled in accordance with BPM6 methodologies. 1 | Monthly Statistics - April 2018
  5. Financial sector External sector Reserve money Monetary operations Overnight deposit facility (avg.) (19) (20) Monetary financial statistics Period Broad money Net foreign assets 5/ (14) (15) Net domestic assets 5/ o/w Net claims on central govt. (16) (17) Claims on pvt. sector (18) millions of MVR External reserves Gross international reserves (USD) (21) Balance of payments 6/ Export (22) (23) (24) (25) Current account as a % of GDP (26) % (27) MVR per USD 2012 2013 2014 20,001.6 23,676.7 27,197.1 5,085.7 8,687.3 12,414.0 19,414.7 20,444.1 21,718.8 11,429.3 13,268.0 15,226.8 15,573.6 15,805.8 16,465.7 8,181.9 9,629.1 12,502.3 271.3 345.7 1,131.6 304.5 368.3 614.7 -1,261.4 -1,372.0 -1,660.0 314.4 331.0 300.9 1,575.8 1,703.0 1,960.9 -184.5 -127.4 -117.8 -6.4 -3.9 -3.2 15.37 15.41 15.40 2015 2016 2017 30,491.9 30,436.3 32,007.2 12,197.0 7,796.0 10,274.0 26,344.3 32,337.3 32,772.7 18,640.9 22,039.3 21,577.9 18,466.4 20,567.7 23,693.1 10,274.1 8,977.7 10,683.2 2,496.4 3,229.4 3,095.1 564.0 467.1 586.1 -1,654.7 -1,838.7 -1,904.6 239.8 256.2 318.3 1,894.5 2,094.9 2,222.9 -301.7 -1,032.4 -876.4 -7.6 -24.5 -18.9 15.41 15.35 15.41 2018 na na na na na na na na -2,028.7 341.0 2,369.8 -860.1 -17.1 na External sector Financial sector Period Broad money Net foreign assets 5/ (41) (42) Net domestic assets o/w Net claims on central govt. (43) Reserve money 5/ (44) Claims on pvt. sector (45) (46) Monetary operations Overnight deposit facility (avg.) (47) millions of MVR 2018 Import millions of USD millions Monetary financial statistics 2017 Exchange rates Current account balance Balance on goods External reserves Gross international reserves (USD) (48) External trade Exchange rates Total exports (f.o.b.) Domestic exports (49) Re-exports (50) (51) Total imports (c.i.f) (52) millions of USD millions (53) MVR per USD Apr-17 May-17 Jun-17 31,677.9 31,226.4 31,838.7 8,971.0 7,827.5 10,945.5 32,478.3 33,435.0 31,023.1 22,645.5 23,316.9 20,559.9 21,244.3 21,578.1 21,892.1 9,325.8 10,874.6 10,221.9 3,382.1 2,578.9 2,011.7 494.6 536.4 603.4 22.6 32.4 30.7 13.5 21.2 16.9 9.1 11.2 13.9 201.2 217.1 184.6 15.39 15.40 15.38 Jul-17 Aug-17 Sep-17 30,959.1 30,289.1 29,848.9 9,661.9 9,042.1 8,619.9 31,573.0 31,735.3 31,841.7 20,911.7 20,408.7 20,754.2 22,144.6 22,764.7 22,941.3 10,277.6 9,441.4 9,871.8 2,467.9 3,031.1 3,105.2 571.8 560.5 519.4 18.6 23.4 15.3 12.0 15.2 8.7 6.7 8.2 6.6 187.1 194.9 191.2 15.40 15.42 15.41 Oct-17 Nov-17 Dec-17 30,521.4 31,226.4 32,007.2 8,813.7 8,735.9 10,274.0 32,337.6 33,352.2 32,772.7 21,053.9 22,058.2 21,577.9 23,202.1 23,626.1 23,693.1 9,488.3 10,734.8 10,683.2 3,335.5 3,361.1 3,391.6 494.4 530.0 586.1 25.5 27.2 37.1 14.6 18.1 25.3 10.9 9.1 11.7 200.9 194.0 219.8 15.42 15.40 15.41 Jan-18 Feb-18 Mar-18 33,011.6 33,224.7 33,475.1 11,358.3 12,376.9 12,449.9 32,846.6 32,211.7 32,438.2 21,446.4 21,020.9 21,182.2 24,218.6 24,038.2 24,091.4 10,562.6 11,376.1 12,030.5 3,414.0 3,020.9 3,457.6 625.9 710.4 723.9 na na na na na na na na na na na na 15.40 15.40 15.41 Monthly Statistics - April 2018 | 2
  6. Real Sector Table 2 .1 Gross Domestic Product, 2012 - 2018 ¹⁄ (Millions of MVR) 2014 constant prices Period Gross domestic product (at market prices) (2+3) (1) Taxes less subsidies Gross domestic product (at basic prices) Primary Secondary o/w Fisheries (2) (4+6+8+14) (3) Tertiary o/w Construction o/w Tourism Transportation Postal and Telecommunication Real estate Public administration (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) 2012 2013 2014 49,387.3 52,983.3 56,866.7 5,320.9 5,747.2 6,183.6 44,066.4 47,236.0 50,683.2 2,832.4 3,027.3 3,018.0 2,077.4 2,249.1 2,234.6 4,381.0 4,119.0 4,784.7 2,484.9 2,159.4 2,775.6 36,853.1 40,089.8 42,880.4 12,697.3 13,977.4 14,343.1 3,131.8 3,471.7 3,722.8 1,613.7 1,658.5 1,687.9 3,623.2 3,873.9 4,166.3 3,628.8 3,914.1 4,372.0 2015 2016 2017 58,143.9 61,727.4 66,008.0 6,066.4 6,517.1 na 52,077.5 55,210.3 na 3,003.7 3,046.6 na 2,209.7 2,239.0 na 5,572.9 6,413.9 na 3,519.8 4,123.3 na 43,501.0 45,749.8 na 13,708.7 14,022.5 na 3,887.7 3,991.4 na 2,120.1 2,364.4 na 4,315.3 4,473.5 na 4,494.3 4,722.9 na 2018 69,993.6 na na na na na na na na na na na na Transportation Postal and Telecommunication y/y % change Period Gross domestic product (at market prices) (24) Taxes less subsidies (25) Gross domestic product (26) Primary Fisheries Secondary Construction (27) (28) (29) (30) Tertiary (31) Tourism (32) (33) (34) Real estate Public administration (35) 2012 2013 2014 2.5 7.3 7.3 2.2 8.0 7.6 2.6 7.2 7.3 -0.2 6.9 -0.3 -0.2 8.3 -0.6 4.1 -6.0 16.2 -2.3 -13.1 28.5 2.6 8.8 7.0 -0.2 10.1 2.6 17.5 10.9 7.2 1.7 2.8 1.8 6.5 6.9 7.5 8.7 7.9 11.7 2015 2016 2017 2.2 6.2 6.9 -1.9 7.4 na 2.8 6.0 na -0.5 1.4 na -1.1 1.3 na 16.5 15.1 na 26.8 17.1 na 1.4 5.2 na -4.4 2.3 na 4.4 2.7 na 25.6 11.5 na 3.6 3.7 na 2.8 5.1 na 6.0 na na na na na na na na na na na na 2018 1/ Source: National Bureau of Statistics, Ministry of Finance & Treasury 1/ GDP series has been rebased from base year 2003 to 2014 in November 2017 and broadly complies with the guidelines of SNA 2008. Figures for 2017 and 2018 are projections available as at November 2017 forecasted by Ministry of Finance & Treasury. 2/ (36) Mid year population figures includes local and expatriate population. 3 | Monthly Statistics - April 2018
  7. Real Sector In % of GDP (at basic prices) Primary Secondary Tertiary Fisheries Construction Tourism Transportation Period (14) (15) (16) (17) (18) (19) Postal and Telecommunication (20) (21) Real estate Public administration (22) (23) 2012 2013 2014 6.4 6.4 6.0 9.9 8.7 9.4 83.6 84.9 84.6 4.7 4.8 4.4 5.6 4.6 5.5 28.8 29.6 28.3 7.1 7.3 7.3 3.7 3.5 3.3 8.2 8.2 8.2 8.2 8.3 8.6 2015 2016 2017 5.8 5.5 na 10.7 11.6 na 83.5 82.9 na 4.2 4.1 na 6.8 7.5 na 26.3 25.4 na 7.5 7.2 na 4.1 4.3 na 8.3 8.1 na 8.6 8.6 na 2018 na na na na na na na na na na Memorandum items Real GDP at market prices (millions of USD) Nominal GDP at market prices (millions of USD) Nominal GDP at market prices (millions of MVR) Nominal GDP per capita at market prices (USD) Total mid year population 2/ (37) (38) (39) (40) (41) 2012 2013 2014 3,202.8 3,436.0 3,687.9 2,875.8 3,283.6 3,687.9 44,345.4 50,633.5 56,866.7 6,891.4 7,660.0 8,428.7 417,306 428,671 437,535 2015 2016 2017 3,770.7 4,003.1 4,280.7 3,992.6 4,210.1 4,648.3 61,565.6 64,919.3 71,676.8 8,785.8 8,932.8 9,671.3 454,434 471,305 480,630 4,539.1 5,022.0 77,439.4 10,292.7 487,921 Period 2018 1/ Monthly Statistics - April 2018 | 4
  8. Real Sector Table 2 .2 Quarterly Gross Domestic Product, 2012 - 2017 (Millions of MVR) 2014 constant prices Gross domestic product (at market prices) Taxes less subsidies Gross domestic product (at basic prices) Primary Period (2+3) (1) (2) (4+6+8) (3) Tertiary o/w Construction (6) (7) o/w Tourism Transportation and Communication Real estate (11) Public administration (4) (5) (8) (9) (10) 2012 Q1 Q2 Q3 Q4 12,298.5 11,727.9 12,081.1 13,279.9 1,335.2 1,330.9 1,328.1 1,326.7 10,963.4 10,396.9 10,752.9 11,953.2 577.1 767.8 623.3 864.1 388.6 580.1 434.9 673.8 1,056.6 1,075.0 1,155.1 1,094.3 615.6 597.1 686.1 586.0 9,329.6 8,554.2 8,974.5 9,994.8 3,588.5 2,770.8 2,935.9 3,402.1 1,547.8 1,346.0 1,517.9 1,687.9 882.8 896.9 912.9 930.6 711.2 955.8 1,064.1 897.7 2013 Q1 Q2 Q3 Q4 13,790.2 12,443.3 12,751.7 13,998.1 1,540.8 1,310.7 1,384.2 1,511.5 12,249.4 11,132.6 11,367.5 12,486.6 693.5 634.7 748.7 950.3 500.6 440.5 553.5 754.5 1,048.6 1,024.1 1,009.7 1,036.6 558.6 539.0 519.5 542.3 10,507.2 9,473.8 9,609.0 10,499.7 3,824.5 3,115.0 3,314.1 3,723.9 1,830.8 1,549.7 1,573.8 1,760.3 950.2 965.6 976.0 982.2 873.4 967.9 915.6 1,157.3 2014 Q1 Q2 Q3 Q4 14,618.8 14,259.7 13,761.6 14,226.7 1,645.8 1,458.3 1,515.0 1,564.5 12,973.0 12,801.4 12,246.6 12,662.2 771.2 883.3 625.6 737.9 575.3 688.1 429.9 541.3 1,156.4 1,231.4 1,206.8 1,190.1 665.7 703.1 717.5 689.4 11,045.5 10,686.7 10,414.1 10,734.1 3,958.1 3,708.8 3,244.9 3,431.3 1,898.2 1,726.1 1,717.9 1,804.9 1,027.6 1,036.3 1,046.5 1,055.9 1,074.8 1,070.4 1,136.7 1,090.1 2015 Q1 Q2 Q3 Q4 15,349.7 13,796.6 14,198.1 14,799.5 1,633.6 1,395.2 1,506.2 1,531.4 13,716.1 12,401.4 12,691.9 13,268.1 876.8 766.5 532.9 827.5 679.2 568.6 334.1 627.8 1,385.6 1,382.5 1,416.7 1,388.0 859.6 868.4 931.5 860.3 11,453.6 10,252.4 10,742.4 11,052.6 3,906.5 3,148.9 3,196.4 3,457.0 2,041.2 1,853.5 1,949.4 1,942.6 1,064.3 1,074.5 1,082.5 1,094.0 1,046.4 1,008.4 1,231.8 1,207.7 2016 Q1 Q2 Q3 Q4 15,850.1 15,007.7 14,636.7 16,232.9 1,655.8 1,525.5 1,597.3 1,738.6 14,194.4 13,482.2 13,039.4 14,494.3 724.1 736.3 521.6 1,064.6 523.2 535.2 319.3 861.3 1,534.1 1,595.3 1,529.9 1,754.6 976.0 1,017.5 998.3 1,131.5 11,936.1 11,150.7 10,988.0 11,675.1 4,064.7 3,257.4 3,159.1 3,541.3 2,087.3 1,911.5 2,042.4 2,182.9 1,102.1 1,115.5 1,121.6 1,134.3 1,197.9 1,170.7 1,171.2 1,183.0 2017 Q1 Q2 Q3 Q4 17,281.5 15,999.5 16,358.4 17,537.3 1,772.5 1,587.6 1,663.0 1,851.9 15,509.0 14,411.9 14,695.4 15,685.4 943.6 838.2 721.3 934.0 737.4 631.8 513.7 724.9 1,983.1 2,069.5 2,072.9 1,921.9 1,345.8 1,418.3 1,455.8 1,267.5 12,582.2 11,504.2 11,901.1 12,829.4 4,070.4 3,249.4 3,634.5 4,269.4 2,471.7 2,154.3 2,231.1 2,301.2 1,121.7 1,128.3 1,140.4 1,147.9 1,163.3 1,151.6 1,140.4 1,144.8 Source: National Bureau of Statistics, Ministry of Finance & Treasury 5 | Monthly Statistics - April 2018 Secondary o/w Fisheries (12)
  9. Real Sector y /y % change Gross domestic Taxes less Gross domestic Primary product (at subsidies product (at basic market prices) prices) Period Fisheries Secondary Construction Tertiary Tourism Transportation and communication Real estate (23) Public administration (13) (14) (15) (16) (17) (18) (19) (20) (21) (22) 2012 Q1 Q2 Q3 Q4 -0.2 1.3 3.8 5.1 7.4 2.8 0.1 -1.1 -1.1 1.2 4.3 5.8 -30.0 13.5 -1.9 23.2 -38.9 19.0 -2.5 31.6 7.0 3.9 10.2 -3.9 6.0 -4.7 8.8 -16.8 0.6 -0.1 4.1 5.7 0.2 -1.4 1.4 -1.0 6.7 3.7 15.6 12.5 6.3 6.2 6.4 6.9 (24) 6.2 11.2 15.2 1.5 2013 Q1 Q2 Q3 Q4 12.1 6.1 5.6 5.4 15.4 -1.5 4.2 13.9 11.7 7.1 5.7 4.5 20.2 -17.3 20.1 10.0 28.8 -24.1 27.3 12.0 -0.8 -4.7 -12.6 -5.3 -9.3 -9.7 -24.3 -7.5 12.6 10.8 7.1 5.1 6.6 12.4 12.9 9.5 18.3 15.1 3.7 4.3 7.6 7.7 6.9 5.5 22.8 1.3 -14.0 28.9 2014 Q1 Q2 Q3 Q4 6.0 14.6 7.9 1.6 6.8 11.3 9.4 3.5 5.9 15.0 7.7 1.4 11.2 39.2 -16.4 -22.4 14.9 56.2 -22.3 -28.3 10.3 20.2 19.5 14.8 19.2 30.4 38.1 27.1 5.1 12.8 8.4 2.2 3.5 19.1 -2.1 -7.9 3.7 11.4 9.2 2.5 8.1 7.3 7.2 7.5 23.1 10.6 24.1 -5.8 2015 Q1 Q2 Q3 Q4 5.0 -3.2 3.2 4.0 -0.7 -4.3 -0.6 -2.1 5.7 -3.1 3.6 4.8 13.7 -13.2 -14.8 12.2 18.1 -17.4 -22.3 16.0 19.8 12.3 17.4 16.6 29.1 23.5 29.8 24.8 3.7 -4.1 3.2 3.0 -1.3 -15.1 -1.5 0.7 7.5 7.4 13.5 7.6 3.6 3.7 3.4 3.6 -2.6 -5.8 8.4 10.8 2016 Q1 Q2 Q3 Q4 3.3 8.8 3.1 9.7 1.4 9.3 6.0 13.5 3.5 8.7 2.7 9.2 -17.4 -3.9 -2.1 28.6 -23.0 -5.9 -4.4 37.2 10.7 15.4 8.0 26.4 13.5 17.2 7.2 31.5 4.2 8.8 2.3 5.6 4.0 3.4 -1.2 2.4 2.3 3.1 4.8 12.4 3.6 3.8 3.6 3.7 14.5 16.1 -4.9 -2.0 2017 Q1 Q2 Q3 Q4 9.0 6.6 11.8 8.0 7.1 4.1 4.1 6.5 9.3 6.9 12.7 8.2 30.3 13.8 38.3 -12.3 40.9 18.0 60.9 -15.8 29.3 29.7 35.5 9.5 37.9 39.4 45.8 12.0 5.4 3.2 8.3 9.9 0.1 -0.2 15.1 20.6 18.4 12.7 9.2 5.4 1.8 1.1 1.7 1.2 -2.9 -1.6 -2.6 -3.2 Monthly Statistics - April 2018 | 6
  10. Real Sector Table 3 .1 Tourism Indicators, 2012 - 2018 Tourist arrivals & stay Total arrivals (thousands) Period Bednights (thousands) Capacity & operations Average stay Operational (days) bed capacity (6) Occupancy rate (%) Resorts in operation 1/ (7) (8) (9) Tourist arrivals Bednights 6,611 7,239 7,506 6.9 6.4 6.2 26,798 27,998 29,515 9,809 10,220 10,774 27,705 28,842 30,587 67.5 70.9 69.7 98 101 104 2.9 17.4 7.1 1.3 9.5 3.7 9.4 4.5 5.4 9.7 4.2 5.4 5.1 4.1 6.0 1,553.6 2,154.7 3,001.8 2015 2016 2017 1,234 1,286 1,390 7,323 7,771 8,596 5.9 6.0 6.2 31,424 33,802 38,592 11,471 12,373 14,089 32,835 35,353 39,536 63.9 62.9 61.1 105 111 124 2.4 4.2 8.0 -2.4 6.1 10.6 6.5 7.6 14.2 6.5 7.9 13.9 7.4 7.7 11.8 4,150.3 3,920.7 4,137.7 Apr-16 May-16 Jun-16 103 93 79 656 573 444 6.3 6.2 5.6 33,188 33,284 33,160 996 1,032 995 34,548 34,912 35,086 65.9 55.6 44.6 109 109 109 1.2 -2.3 -3.0 2.4 -0.3 -0.9 6.3 6.3 6.7 6.3 6.3 6.7 6.5 7.0 7.3 393.1 363.4 259.6 Jul-16 Aug-16 Sep-16 110 112 102 629 679 590 5.7 6.0 5.8 33,581 33,745 33,967 1,041 1,046 1,019 35,517 35,681 35,809 60.5 64.9 57.9 111 112 112 5.7 1.9 6.7 10.3 7.0 8.2 7.8 7.9 7.9 7.8 7.9 7.9 8.5 8.4 8.4 192.0 309.1 279.6 Oct-16 Nov-16 Dec-16 117 105 120 706 652 686 6.0 6.2 5.7 34,114 35,807 36,618 1,058 1,074 1,135 36,062 36,714 37,374 66.8 60.7 60.4 114 114 117 11.4 15.9 0.2 10.6 15.0 8.4 8.6 11.4 12.2 8.6 11.4 12.2 7.9 9.3 9.6 308.1 317.4 333.4 Jan-17 Feb-17 Mar-17 125 121 113 800 772 750 6.4 6.4 6.7 36,225 37,133 37,773 1,123 1,040 1,171 37,575 38,146 38,719 71.3 74.3 64.1 120 120 122 15.6 0.3 -2.1 21.4 3.1 0.5 11.3 13.4 14.9 11.3 9.5 14.9 10.5 11.7 12.7 391.6 462.8 446.8 Apr-17 May-17 Jun-17 120 93 85 742 601 481 6.2 6.4 5.6 37,817 38,264 38,648 1,135 1,186 1,159 39,070 39,505 39,570 65.4 50.7 41.5 122 123 124 15.7 0.3 7.8 13.2 4.9 8.3 13.9 15.0 16.6 13.9 15.0 16.6 13.1 13.2 12.8 410.6 386.0 153.2 Jul-17 Aug-17 Sep-17 113 121 106 688 747 604 6.1 6.2 5.7 38,979 39,074 39,262 1,208 1,211 1,178 39,799 39,937 39,991 56.9 61.6 51.3 125 125 125 2.5 8.0 4.0 9.3 9.9 2.4 16.1 15.8 15.6 16.1 15.8 15.6 12.1 11.9 11.7 301.5 267.2 292.7 Oct-17 Nov-17 Dec-17 128 121 143 795 751 864 6.2 6.2 6.0 39,545 39,816 40,572 1,226 1,194 1,258 40,169 40,694 41,255 64.8 62.9 68.7 126 127 130 8.9 15.2 19.7 12.5 15.2 25.9 15.9 11.2 10.8 15.9 11.2 10.8 11.4 10.8 10.4 303.4 375.1 392.1 2018 Jan-18 Feb-18 Mar-18 142 144 133 941 925 843 6.6 6.4 6.3 40,917 40,781 40,981 1,268 1,142 1,270 41,600 41,684 41,894 74.2 81.0 66.4 131 128 129 13.6 19.2 18.5 17.6 19.8 12.4 13.0 9.8 8.5 13.0 9.8 8.5 10.7 9.3 8.2 519.0 588.2 539.7 2017 2018 Jan - Mar Jan - Mar 359 420 2,323 2,710 6.5 6.4 37,044 40,893 3,334 3,681 38,147 41,726 69.9 73.9 121 129 4.3 17.0 7.8 16.6 13.2 10.4 12.0 10.4 11.6 9.4 1,301.2 1,647.0 7 | Monthly Statistics - April 2018 (13) GST on tourism 2/ (millions of MVR) 958 1,125 1,205 Source: Ministry of Tourism, Maldives Monetary Authority, Ministry of Finance & Treasury, Maldives Inland Revenue Authority Annual data refers to average number of resorts in operation. Annual data refers to government revenue as per table 6.2. Monthly data refers to data published by MIRA as T-GST. Note: Figures from January 2018 has been revised. (12) Registered bed capacity 2012 2013 2014 2/ (11) Bednight capacity (3) 1/ (10) Operational bed capacity (2) 2017 (5) Registered bed capacity (1) 2016 (4) Bednight capacity (thousands) Memorandum items y/y % change (14)
  11. Real Sector Table 3 .2 Tourist Arrivals, 2012 - 2018 Tourist arrivals y/y % change Europe Asia Africa Americas Oceania Period (2 to 8) (1) (4) (5) (6) (7) (8) (9) Italy Russia United Kingdom China (13) India Tourist arrivals Europe Asia Middle East Germany Italy Russia United Kingdom China India (10) (11) (12) (14) (15) (16) (17) (18) (19) (20) (21) (22) (23) (24) 958,027 1,125,202 1,204,857 517,809 527,274 529,291 367,680 505,753 568,031 7,095 8,271 8,149 26,774 32,970 41,044 16,826 18,761 20,814 21,843 32,050 37,201 na na 327 98,351 93,598 98,328 62,782 57,854 57,862 66,378 76,479 66,308 91,776 85,869 88,704 229,551 331,719 363,626 31,721 38,014 45,587 2.9 17.4 7.1 -3.7 1.8 0.4 9.9 37.6 12.3 49.9 46.7 16.1 8.7 -4.8 5.1 -24.7 -7.8 0.0 3.8 15.2 -13.3 -12.2 -6.4 3.3 15.6 44.5 9.6 2.4 19.8 19.9 2015 2016 2017 1,234,248 1,286,135 1,389,542 535,962 575,176 646,363 578,322 572,336 586,791 9,248 10,752 14,678 46,630 50,458 61,973 21,777 25,708 30,308 41,976 51,330 49,193 333 375 236 105,132 106,381 112,109 65,616 71,202 88,848 44,323 46,522 61,931 92,775 101,843 103,977 359,514 324,326 306,530 52,368 66,955 83,019 2.4 4.2 8.0 1.3 7.3 12.4 1.8 -1.0 2.5 12.8 22.3 -4.2 6.9 1.2 5.4 13.4 8.5 24.8 -33.2 5.0 33.1 4.6 9.8 2.1 -1.1 -9.8 -5.5 14.9 27.9 24.0 Apr-16 May-16 Jun-16 103,493 93,228 79,034 47,351 36,279 25,661 44,604 46,501 46,684 982 775 493 3,879 3,438 3,276 2,230 1,592 2,186 4,415 4,608 725 32 35 9 8,810 10,141 4,617 5,490 2,746 2,583 3,363 3,077 2,939 8,964 7,253 5,893 24,794 25,005 28,653 4,619 6,651 4,660 1.2 -2.3 -3.0 -0.2 2.5 5.7 2.2 -8.7 -4.9 29.5 68.2 -69.0 5.0 -2.2 -6.3 -3.4 27.0 28.1 -12.8 0.8 17.6 1.9 5.6 -0.5 -6.1 -19.0 -10.4 23.2 23.5 6.2 Jul-16 Aug-16 Sep-16 110,432 112,282 101,909 37,859 43,109 36,958 57,871 55,710 50,095 1,019 1,324 1,109 3,960 3,607 4,251 2,452 1,969 2,658 7,242 6,532 6,804 29 31 34 6,008 6,869 7,826 3,257 6,507 3,172 3,415 3,034 2,990 7,898 8,852 7,797 36,456 36,217 29,242 4,783 4,175 5,009 5.7 1.9 6.7 11.3 8.1 8.3 -2.1 -5.9 -0.4 51.4 25.3 45.6 2.5 -10.8 -3.9 28.3 16.1 12.2 7.4 -9.4 29.5 10.1 13.4 14.7 -12.2 -11.3 -9.2 41.7 20.4 50.7 Oct-16 Nov-16 Dec-16 117,489 104,572 119,530 55,368 51,363 61,285 52,482 42,091 45,404 748 686 1,536 4,391 4,580 5,906 2,078 1,890 2,092 2,398 3,930 3,265 24 32 42 13,061 10,759 7,938 4,122 4,987 11,171 4,387 4,750 5,560 9,111 8,073 8,576 29,444 18,954 16,249 6,301 6,895 9,691 11.4 15.9 0.2 16.9 19.0 -4.3 4.7 6.4 9.5 11.4 80.3 -17.7 6.6 11.1 -17.7 33.7 12.6 -1.0 13.7 28.3 -4.1 18.0 15.3 -10.0 -4.1 -4.5 -0.0 45.1 42.0 26.5 Jan-17 Feb-17 Mar-17 125,336 121,052 112,665 64,030 67,730 61,927 48,579 43,019 38,122 877 676 1,001 5,474 4,574 5,440 2,371 1,657 2,180 3,969 3,381 3,976 36 15 19 7,803 8,874 10,216 12,079 11,215 9,900 6,874 5,113 6,413 8,630 10,395 10,063 30,669 24,263 18,203 6,043 6,105 5,008 15.6 0.3 -2.1 15.6 11.5 -3.0 21.0 -15.8 -3.9 -8.5 23.7 -8.3 -0.4 -4.0 -23.0 36.8 21.2 9.0 30.4 56.2 43.8 11.7 -2.0 -9.3 32.0 -29.3 -16.3 16.6 31.3 15.4 Apr-17 May-17 Jun-17 119,774 93,491 85,222 61,542 35,739 29,194 44,308 47,584 45,958 1,452 1,141 880 5,294 4,214 4,104 2,924 2,080 2,479 4,231 2,725 2,603 23 8 4 11,172 8,742 6,885 8,601 3,131 2,768 5,400 3,564 3,262 9,417 7,151 6,081 20,975 23,225 24,160 5,362 8,092 6,919 15.7 0.3 7.8 30.0 -1.5 13.8 -0.7 2.3 -1.6 -4.2 -40.9 259.0 26.8 -13.8 49.1 56.7 14.0 7.2 60.6 15.8 11.0 5.1 -1.4 3.2 -15.4 -7.1 -15.7 16.1 21.7 48.5 Jul-17 Aug-17 Sep-17 113,175 121,310 105,984 42,192 47,465 40,014 54,520 57,701 51,532 1,710 1,631 1,194 5,083 4,739 4,633 3,057 2,199 3,153 6,593 7,547 5,429 20 28 29 6,830 6,916 8,793 3,698 7,227 3,577 4,144 4,166 3,522 7,705 8,565 7,499 34,276 33,743 27,214 5,386 6,024 6,788 2.5 8.0 4.0 11.4 10.1 8.3 -5.8 3.6 2.9 -9.0 15.5 -20.2 13.7 0.7 12.4 13.5 11.1 12.8 21.3 37.3 17.8 -2.4 -3.2 -3.8 -6.0 -6.8 -6.9 12.6 44.3 35.5 Oct-17 Nov-17 Dec-17 127,986 120,506 143,041 62,018 60,170 74,342 54,974 47,363 53,131 1,000 929 2,187 5,008 6,269 7,141 2,684 2,703 2,821 2,286 3,055 3,398 16 17 21 15,007 11,829 9,042 4,898 6,998 14,756 5,485 6,421 7,567 9,173 9,579 9,719 28,689 21,195 19,918 7,414 7,231 12,647 8.9 15.2 19.7 12.0 17.1 21.3 4.7 12.5 17.0 -4.7 -22.3 4.1 14.9 9.9 13.9 18.8 40.3 32.1 25.0 35.2 36.1 0.7 18.7 13.3 -2.6 11.8 22.6 17.7 4.9 30.5 2018 Jan-18 Feb-18 Mar-18 142,351 144,286 133,466 76,603 79,710 82,383 49,130 53,327 36,336 1,057 708 1,115 6,581 5,780 6,746 3,395 2,021 3,257 5,567 2,723 3,608 18 17 21 8,329 9,785 14,692 14,329 13,962 13,198 9,595 6,953 7,867 9,442 11,362 11,829 25,830 33,506 13,203 8,481 6,038 4,916 13.6 19.2 18.5 19.6 17.7 33.0 1.1 24.0 -4.7 40.3 -19.5 -9.3 6.7 10.3 43.8 18.6 24.5 33.3 39.6 36.0 22.7 9.4 9.3 17.5 -15.8 38.1 -27.5 40.3 -1.1 -1.8 2017 2018 Jan - Mar Jan - Mar 359,053 420,103 193,687 238,696 129,720 138,793 2,554 2,880 15,488 19,107 6,208 8,673 11,326 11,898 70 56 26,893 32,806 33,194 41,489 18,400 24,415 29,088 32,633 73,135 72,539 17,156 19,435 4.3 17.0 7.6 23.2 -0.9 7.0 -0.7 5.1 -11.4 22.0 22.2 25.0 41.5 32.7 -1.1 12.2 -7.8 -0.8 21.1 13.3 2017 (3) UN o/w passport Germany holders & others 2012 2013 2014 2016 (2) Middle East Source: Ministry of Tourism Monthly Statistics - April 2018 | 8
  12. Real Sector Table 4 .1 Fish Prices and Production, 2012 - 2018 Local Companies Purchase Prices (MVR/kg) Period Skipjack tuna Yellow fin tuna Iced skipjack tuna International Market Prices (MVR/kg) 1/ Skipjack tuna Yellow fin tuna Fish purchases (mt) Bigeye tuna Skipjack tuna Yellow fin tuna Others Total Fish Catch (mt) y/y % change Fish purchases Skipjack tuna Yellow fin tuna Others (12) (13) (14) (15) Total Fish Catch Memorandum items Fish exports (millions of USD) (1) (2) (3) (4) (5) (6) (8 to 10) (7) 2012 2013 2014 na na 17.0 na na 60.0 na na 19.0 30.1 22.1 17.7 na na 131.6 na na 205.7 49,492.4 63,090.8 50,511.2 27,106.2 35,580.8 26,977.1 22,297.3 26,844.6 21,068.6 88.9 665.4 2,465.4 120,000.9 129,843.1 128,683.2 22.8 27.5 -19.9 na 31.3 -24.2 na 20.4 -21.5 na 648.2 270.5 -0.7 8.2 -0.9 156.1 161.3 139.1 2015 2016 2017 17.0 17.0 18.0 67.5 66.5 62.5 19.0 19.0 20.0 14.6 25.4 23.9 118.2 139.4 157.5 396.7 516.9 296.2 45,235.2 53,876.0 76,620.7 20,918.8 29,392.8 48,093.3 23,013.8 22,406.2 26,656.6 1,302.5 2,077.0 1,870.8 127,351.8 129,191.0 na -10.4 19.1 42.2 -22.5 40.5 63.6 9.2 -2.6 19.0 -47.2 59.5 -9.9 -1.0 1.4 na 137.3 134.8 193.1 Apr-16 May-16 Jun-16 17.0 17.0 17.0 60.0 70.0 125.0 19.0 19.0 19.0 25.4 24.7 21.6 150.8 148.7 147.7 343.3 157.5 168.4 7,413.7 4,516.7 1,124.7 4,363.7 2,316.5 331.3 2,827.2 2,026.7 745.1 222.8 173.5 48.3 16,353.3 11,204.6 3,542.6 18.8 55.2 -40.2 24.1 73.7 -53.7 11.0 30.6 -36.0 28.7 604.0 {...} -2.9 21.1 -46.8 15.5 15.8 5.8 Jul-16 Aug-16 Sep-16 17.0 17.0 17.0 120.0 95.0 112.5 19.0 19.0 19.0 21.6 21.6 21.6 146.0 149.9 149.4 243.6 197.3 298.8 1,603.4 2,762.4 2,860.9 1,020.5 1,285.6 1,387.3 531.5 1,246.2 1,118.8 51.5 230.7 354.7 4,446.4 6,849.8 7,212.0 -8.3 8.5 38.0 27.0 66.0 94.2 -42.5 -25.6 -14.0 154.3 138.5 523.3 -22.1 -8.9 21.3 3.5 10.5 7.6 Oct-16 Nov-16 Dec-16 17.0 17.0 17.0 55.0 55.0 66.5 19.0 19.0 19.0 21.6 21.6 25.4 145.1 146.0 139.4 355.3 334.2 516.9 7,922.7 6,950.4 7,128.7 4,439.9 3,877.5 5,046.3 3,325.4 2,842.2 1,922.6 157.4 230.8 159.9 17,269.9 16,136.7 15,795.9 48.3 37.8 88.4 71.5 99.3 206.8 26.0 -5.0 -2.9 37.4 116.9 0.2 20.2 27.1 73.1 18.0 10.9 12.6 Jan-17 Feb-17 Mar-17 17.0 17.0 17.0 67.5 62.5 56.0 19.0 19.0 19.0 25.4 26.2 24.3 142.9 140.6 143.1 417.7 208.8 213.3 8,385.2 6,537.5 6,336.3 5,459.5 4,386.4 3,071.0 2,792.1 1,992.9 3,003.6 133.6 158.1 261.6 na na na 136.4 76.7 45.8 218.0 139.7 72.8 66.3 12.6 26.6 -11.6 57.1 33.6 na na na 23.2 18.8 10.3 Apr-17 May-17 Jun-17 17.0 17.0 17.0 60.0 75.0 85.0 19.0 19.0 19.0 23.1 25.4 28.5 145.2 147.7 149.0 217.6 154.5 284.7 7,958.8 7,659.9 4,299.6 5,006.6 5,660.3 3,123.0 2,812.3 1,909.0 1,112.9 140.0 90.5 63.7 na na na 7.4 69.6 282.3 14.7 144.3 842.6 -0.5 -5.8 49.4 -37.2 -47.8 32.0 na na na 13.1 20.5 16.3 Jul-17 Aug-17 Sep-17 17.0 18.0 18.0 75.0 63.5 62.5 19.0 20.0 20.0 29.3 30.5 30.5 151.7 158.2 155.0 254.4 256.5 142.1 5,847.2 3,700.8 3,018.1 3,801.0 2,116.3 1,360.8 1,810.0 1,488.3 1,576.7 236.2 96.2 80.5 na na na 264.7 34.0 5.5 272.5 64.6 -1.9 240.6 19.4 40.9 359.0 -58.3 -77.3 na na na 11.6 14.7 8.2 Oct-17 Nov-17 Dec-17 18.0 18.0 18.0 112.5 57.5 62.5 20.0 20.0 20.0 35.5 27.8 23.9 156.2 155.6 157.5 212.0 212.9 296.2 6,461.3 8,485.3 7,930.8 3,874.3 4,787.0 5,447.0 2,340.9 3,477.6 2,340.0 246.0 220.7 143.7 na na na -18.4 22.1 11.3 -12.7 23.5 7.9 -29.6 22.4 21.7 56.3 -4.4 -10.1 na na na 14.1 17.5 24.8 2018 Jan-18 Feb-18 Mar-18 18.0 18.0 18.0 95.3 46.2 63.0 20.0 20.0 20.0 23.9 22.4 23.1 162.8 162.3 162.9 341.0 307.5 396.4 8,476.9 5,729.3 6,843.7 5,829.3 4,036.3 4,589.2 2,280.5 1,581.2 2,068.9 367.1 111.8 185.6 na na na 1.1 -12.4 8.0 6.8 -8.0 49.4 -18.3 -20.7 -31.1 174.7 -29.3 -29.1 na na na na na na 2017 2018 Jan - Mar Jan - Mar 17.0 18.0 56.0 63.0 19.0 20.0 24.3 23.1 143.1 162.9 213.3 396.4 21,259.0 21,050.0 12,916.9 14,454.9 7,788.7 5,930.6 553.3 664.5 na na 83.4 -1.0 142.6 11.9 33.8 -23.9 23.6 20.1 na na 52.3 na 2016 2017 (8) (9) (10) (11) Source: Ministry of Fisheries & Agriculture, Maldives Customs Service 1/ Skipjack prices are based on Bangkok frozen market prices, yellow fin tuna prices are based on Spain Mercamadrid Fresh Market prices and bigeye tuna prices are based on Japanese frozen bigeye tuna prices. Note: Fish purchases figure for February 2018 has been revised. 9 | Monthly Statistics - April 2018 (16) (17)
  13. Real Sector Table 4 .2 Volume of Fish Exports, 2012 - 2017 (Quantity in mt) Fish exports y/y % change Fresh, chilled or frozen tuna Period (2+6+7+8) (1) (2) Skipjack tuna Yellowfin tuna (3) (4) Fresh, chilled or Other tuna frozen fish (excluding tuna) (5) (6) Canned or pouched (7) Processed fish, nes o/w Processed tuna, nes (8) (9) Fish exports Fresh, Fresh, chilled or chilled or frozen tuna frozen fish (excluding tuna) Canned or pouched Processed fish, nes (10) (11) (12) (13) (14) 2012 2013 2014 40,601.2 49,590.2 48,183.2 35,416.9 44,656.0 42,726.4 17,922.3 23,293.2 21,781.4 17,357.5 21,102.5 19,464.4 137.1 260.3 1,480.6 918.5 673.5 1,037.9 2,062.2 2,354.2 2,579.7 2,203.7 1,906.6 1,839.2 1,568.6 1,467.9 1,510.7 6.3 22.1 -2.8 11.0 26.1 -4.3 19.6 -26.7 54.1 40.9 14.2 9.6 -45.7 -13.5 -3.5 2015 2016 2017 43,532.7 46,500.8 72,000.4 36,524.0 39,261.8 63,338.6 19,692.2 21,829.6 41,059.0 15,802.2 16,782.9 21,578.2 1,029.6 649.4 701.4 1,376.0 1,513.8 1,865.7 2,914.1 3,035.0 4,800.1 2,718.5 2,690.1 1,996.0 2,373.8 2,303.5 1,645.1 -9.7 6.8 54.8 -14.5 7.5 61.3 32.6 10.0 23.2 13.0 4.1 58.2 47.8 -1.0 -25.8 Jan-16 Feb-16 Mar-16 3,934.7 5,256.2 3,077.4 3,293.6 4,650.3 2,473.9 1,302.5 3,363.5 800.1 1,940.8 1,267.5 1,637.2 50.3 19.3 36.6 135.3 83.0 131.9 251.1 301.3 253.8 254.8 221.6 217.9 244.0 199.4 163.0 -37.3 110.9 -7.6 -43.5 143.1 -4.8 -0.0 -55.7 -54.1 63.2 38.1 1.6 60.9 27.5 12.0 Apr-16 May-16 Jun-16 5,478.9 4,925.4 1,054.8 4,934.9 4,234.5 555.1 3,620.2 2,913.3 26.5 1,286.4 1,182.8 487.3 28.3 138.4 41.2 166.7 168.5 77.0 177.0 238.2 303.2 200.3 284.2 119.5 149.7 246.2 94.6 14.6 5.6 -58.7 16.0 3.5 -69.6 42.1 102.7 153.8 -35.3 -10.8 -32.8 48.3 27.1 -50.5 Jul-16 Aug-16 Sep-16 735.6 4,106.8 2,108.1 285.6 3,465.7 1,580.5 78.1 2,264.1 954.0 181.4 1,154.4 490.4 26.2 47.2 136.0 95.3 203.5 92.2 234.8 223.9 281.5 119.8 213.6 154.0 102.7 177.2 133.1 -14.9 -22.0 -50.5 -24.8 -26.9 -58.5 901.1 77.5 59.6 -30.0 33.8 117.4 -14.2 -9.9 -41.8 Oct-16 Nov-16 Dec-16 7,336.0 3,579.6 4,907.1 6,539.6 2,970.2 4,277.8 3,175.1 933.0 2,399.1 3,332.8 1,974.9 1,847.1 31.7 62.4 31.6 142.6 78.4 139.4 327.4 212.1 230.8 326.4 318.9 259.1 304.0 281.1 208.6 306.6 -35.0 181.1 530.7 -40.3 299.5 33.0 -1.6 -16.1 67.9 -12.9 0.7 -29.8 54.8 -7.3 Jan-17 Feb-17 Mar-17 10,017.3 7,348.3 3,272.1 9,310.2 6,490.1 2,565.1 6,436.6 3,600.2 500.1 2,745.8 2,725.9 1,992.1 127.8 164.0 72.9 147.6 242.0 184.3 305.2 446.7 372.7 254.3 169.5 150.0 226.3 148.0 103.3 154.6 39.8 6.3 182.7 39.6 3.7 9.1 191.7 39.8 21.6 48.2 46.8 -0.2 -23.5 -31.1 Apr-17 May-17 Jun-17 4,097.2 8,765.9 6,484.8 3,519.0 8,280.9 5,962.5 2,009.7 5,970.0 5,210.3 1,458.4 2,263.6 722.6 50.9 47.3 29.6 159.6 114.7 83.2 300.2 266.8 329.0 118.5 103.5 110.1 79.6 85.5 100.5 -25.2 78.0 514.8 -28.7 95.6 974.1 -4.3 -31.9 8.1 69.6 12.0 8.5 -40.8 -63.6 -7.9 Jul-17 Aug-17 Sep-17 3,869.4 4,720.9 2,411.2 3,140.3 3,751.5 1,768.7 1,377.2 2,807.7 695.5 1,734.0 925.9 1,060.6 29.2 17.9 12.6 116.0 151.8 103.3 426.5 607.6 461.0 186.6 210.1 78.1 173.9 175.8 64.5 426.0 15.0 14.4 999.49 8.2 11.9 21.6 -25.4 12.1 81.6 171.4 63.8 55.7 -1.7 -49.3 Oct-17 Nov-17 Dec-17 4,561.9 5,583.7 10,867.6 3,610.3 4,784.4 10,155.7 1,853.6 2,895.1 7,703.0 1,719.0 1,850.6 2,379.9 37.7 38.7 72.8 183.7 210.8 168.7 621.7 313.4 349.3 146.2 275.1 193.9 99.1 245.1 143.5 -37.8 56.0 121.5 -44.8 61.1 137.4 28.8 168.9 21.0 89.9 47.8 51.3 -55.2 -13.7 -25.1 Jan - Dec Jan - Dec 46,500.8 72,000.4 39,261.8 63,338.6 21,829.6 41,059.0 16,782.9 21,578.2 649.4 701.4 1,513.8 1,865.7 3,035.0 4,800.1 2,690.1 1,996.0 2,303.5 1,645.1 6.8 54.8 7.5 61.3 10.0 23.2 4.1 58.2 -1.0 -25.8 2016 2017 2016 2017 Source: Maldives Customs Service Note: Data available up to December 2017. Monthly Statistics - April 2018 | 10
  14. Real Sector Table 5 .1 Consumer Price Index - National, 2012 - 2018 (June 2012 = 100) All items o/w Food & non-alcoholic beverages o/w Food Period (1) Education Restaurants & hotels (6) (7) (8) (9) (10) (11) 8.65 23.29 8.71 5.42 5.44 4.75 2.50 3.02 2012 2013 2014 99.41 103.19 105.38 98.13 105.16 105.92 100.83 105.38 106.06 93.78 104.45 106.23 99.95 103.52 106.69 98.66 97.03 96.03 103.11 110.76 121.00 99.95 102.18 105.38 100.01 99.05 100.29 100.27 105.75 110.57 103.57 115.93 121.33 100.14 103.07 105.30 101.02 102.41 105.17 2015 2016 2017 106.38 106.92 109.93 106.43 107.04 113.03 106.52 107.24 113.54 105.74 104.06 107.40 107.79 108.11 109.48 96.62 97.50 98.59 123.59 125.82 125.53 102.93 101.35 101.84 100.56 99.79 99.66 119.01 124.80 130.08 121.06 123.15 125.63 106.45 107.19 111.12 106.37 106.87 108.70 Apr-16 May-16 Jun-16 105.87 105.94 106.17 104.63 105.00 105.51 104.63 105.00 105.55 103.90 105.23 104.68 107.32 107.60 107.67 95.83 95.05 96.32 125.85 125.91 125.93 101.73 100.81 100.14 100.38 100.03 99.69 124.88 124.88 124.88 123.63 123.63 123.73 106.06 106.00 106.31 106.36 106.31 106.43 Jul-16 Aug-16 Sep-16 106.45 106.35 106.75 105.38 104.67 106.30 105.43 104.67 106.46 104.43 100.61 104.53 107.98 108.25 108.33 97.77 98.01 98.46 125.97 126.26 125.97 100.09 100.09 100.09 99.69 99.69 99.09 124.88 124.88 124.88 121.82 121.82 121.89 106.64 106.89 106.96 106.87 107.01 106.93 Oct-16 Nov-16 Dec-16 108.79 108.67 108.97 112.22 111.31 111.89 112.86 111.86 112.49 102.98 101.72 103.18 108.67 109.08 109.45 99.41 99.43 99.68 125.99 126.00 126.00 101.43 102.92 102.92 99.26 99.26 99.26 124.88 124.88 124.88 125.31 125.25 125.34 109.33 109.33 109.52 107.42 107.62 107.81 Jan-17 Feb-17 Mar-17 109.50 109.89 110.60 112.84 113.78 113.44 113.52 114.55 114.04 104.49 107.94 108.91 109.98 110.19 110.25 99.49 100.48 100.47 125.51 125.40 125.39 103.32 103.17 103.17 99.26 99.26 99.26 130.08 130.08 130.08 125.33 125.29 125.27 109.97 110.07 110.76 108.17 108.34 109.48 Apr-17 May-17 Jun-17 110.59 110.85 109.75 113.29 115.59 113.42 113.85 116.26 113.92 108.65 114.64 110.28 110.39 110.54 108.75 100.36 96.85 96.57 125.40 125.49 125.48 102.91 101.78 101.00 99.26 99.26 99.26 130.08 130.08 130.08 125.27 125.27 125.27 110.78 110.49 121.04 109.52 108.97 108.29 Jul-17 Aug-17 Sep-17 109.67 109.27 109.83 113.16 111.57 113.04 113.63 111.91 113.50 111.47 106.08 109.59 107.85 108.17 108.87 98.34 98.28 98.12 125.50 125.52 125.51 100.81 100.84 101.08 100.21 100.21 100.21 130.08 130.08 130.08 125.27 125.29 125.29 109.50 109.57 109.86 108.28 108.35 108.56 Oct-17 Nov-17 Dec-17 109.54 109.34 110.35 111.67 110.71 113.89 111.99 110.95 114.41 103.85 97.52 105.38 109.20 109.50 110.05 98.22 97.93 97.94 125.69 125.72 125.73 101.50 101.23 101.25 100.11 100.11 99.52 130.08 130.08 130.08 125.21 127.14 127.64 110.08 110.46 110.82 108.69 108.79 108.95 Jan-18 Feb-18 Mar-18 110.69 111.00 110.76 114.32 115.03 113.84 114.91 115.69 114.39 105.97 110.45 107.92 110.31 110.48 110.62 98.30 98.24 98.22 125.85 126.04 126.03 101.47 101.92 102.49 99.79 99.79 99.79 133.12 133.12 133.12 127.64 127.98 127.98 111.14 111.06 111.03 109.25 109.40 109.54 2018 (5) Communications 26.12 2017 (4) Transport 28.44 2016 (3) Health Source: National Bureau of Statistics Note: Annual data refers to twelve month average, monthly data refers to end of period. 11 | Monthly Statistics - April 2018 (12) Total excluding Food & nonalcoholic beverages 100.00 Base Weight (2) o/w Fish (ND) Housing, water, Furnishing, electricity, gas household & other fuel equipment & routine maintenance of the house Total excluding Fish (13)
  15. Real Sector Table 5 .2 Inflation - National, 2012 - 2018 (June 2012 = 100) y/y % change in CPI All items o/w Food & non-alcoholic beverages Period o/w Food o/w Fish (ND) Housing, water, Furnishing, electricity, gas household & other fuel equipment & routine maintenance of the house Health Transport Communications Education Restaurants & hotels Total excluding Fish (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) 2012 2013 2014 10.9 3.8 2.1 17.6 7.2 0.7 na 4.5 0.6 63.5 11.4 1.7 3.6 3.6 3.1 17.8 -1.6 -1.0 -24.2 7.4 9.2 9.1 2.2 3.1 -0.6 -1.0 1.2 16.9 5.5 4.6 27.7 11.9 4.7 9.2 2.9 2.2 na 1.4 2.7 2015 2016 2017 1.0 0.5 2.8 0.5 0.6 5.6 0.4 0.7 5.9 -0.5 -1.6 3.2 1.0 0.3 1.3 0.6 0.9 1.1 2.1 1.8 -0.2 -2.3 -1.5 0.5 0.3 -0.8 -0.1 7.6 4.9 4.2 -0.2 1.7 2.0 1.1 0.7 3.7 1.1 0.5 1.7 Apr-16 May-16 Jun-16 -0.2 -0.2 -0.8 -0.2 -1.2 -2.4 -0.1 -1.2 -2.5 -2.8 -0.2 -2.7 -0.1 -0.1 -0.1 -2.1 2.1 0.3 2.9 2.9 1.4 -2.5 -2.5 -2.9 -0.1 -0.4 -0.8 4.4 4.4 4.4 2.3 2.3 2.4 0.1 -0.2 -0.6 -0.2 0.3 -0.1 Jul-16 Aug-16 Sep-16 -0.4 -0.6 -0.2 -1.5 -2.7 -1.1 -1.6 -2.9 -1.1 -1.7 -5.9 -0.1 -0.1 0.0 0.1 1.1 0.9 1.6 1.4 1.2 0.9 -3.1 -2.9 -2.7 -0.8 -0.9 -1.4 4.4 4.4 4.4 0.5 0.6 0.6 -0.3 -0.1 -0.2 0.1 0.2 0.1 Oct-16 Nov-16 Dec-16 1.7 1.5 2.3 4.5 2.9 5.3 4.9 3.1 5.7 -0.7 -7.0 -1.3 0.4 0.6 1.0 2.6 3.2 3.7 0.7 0.7 0.9 -1.1 0.3 0.1 -1.2 -1.1 -1.1 4.4 4.4 4.4 3.4 3.4 3.5 1.9 2.3 2.7 0.6 0.9 1.2 Jan-17 Feb-17 Mar-17 2.9 3.1 4.3 7.0 6.1 8.1 7.5 6.6 8.7 1.2 -1.7 4.4 1.5 2.7 2.8 3.1 3.9 3.7 0.3 0.2 -0.2 1.1 1.2 1.4 -1.1 -1.1 -1.1 4.6 4.6 4.1 3.0 2.9 2.8 3.1 3.5 4.3 1.3 1.8 2.8 Apr-17 May-17 Jun-17 4.5 4.6 3.4 8.3 10.1 7.5 8.8 10.7 7.9 4.6 8.9 5.3 2.9 2.7 1.0 4.7 1.9 0.3 -0.4 -0.3 -0.4 1.2 1.0 0.9 -1.1 -0.8 -0.4 4.2 4.2 4.2 1.3 1.3 1.2 4.5 4.2 13.9 3.0 2.5 1.7 Jul-17 Aug-17 Sep-17 3.0 2.7 2.9 7.4 6.6 6.3 7.8 6.9 6.6 6.7 5.4 4.8 -0.1 -0.1 0.5 0.6 0.3 -0.3 -0.4 -0.6 -0.4 0.7 0.8 1.0 0.5 0.5 1.1 4.2 4.2 4.2 2.8 2.8 2.8 2.7 2.5 2.7 1.3 1.3 1.5 Oct-17 Nov-17 Dec-17 0.7 0.6 1.3 -0.5 -0.5 1.8 -0.8 -0.8 1.7 0.8 -4.1 2.1 0.5 0.4 0.6 -1.2 -1.5 -1.7 -0.2 -0.2 -0.2 0.1 -1.6 -1.6 0.9 0.9 0.3 4.2 4.2 4.2 -0.1 1.5 1.8 0.7 1.0 1.2 1.2 1.1 1.1 Jan-18 Feb-18 Mar-18 1.1 1.0 0.1 1.3 1.1 0.3 1.2 1.0 0.3 1.4 2.3 -0.9 0.3 0.3 0.3 -1.2 -2.2 -2.2 0.3 0.5 0.5 -1.8 -1.2 -0.7 0.5 0.5 0.5 2.3 2.3 2.3 1.8 2.2 2.2 1.1 0.9 0.2 1.0 1.0 0.1 2016 2017 2018 (12) Total excluding Food & nonalcoholic beverages (13) Source: National Bureau of Statistics Note: Annual data refers to twelve month average, monthly data refers to end of period. Monthly Statistics - April 2018 | 12
  16. Real Sector Table 5 .3 Consumer Price Index - Male', 2012 - 2018 (June 2012 = 100) All items o/w Food & non-alcoholic beverages o/w Food 1/ Period (1) Base Weight (2) o/w Fish (ND) (3) Housing, water, Furnishing, electricity, gas household & other fuel equipment & routine maintenance of the house (4) (5) (6) Health (7) Transport (8) Communications (9) Education (10) Restaurants & hotels (11) Total excluding Fish (12) Total excluding Food & nonalcoholic beverages 1/ (13) 100.00 23.78 21.62 7.64 33.25 7.38 3.34 5.02 4.95 3.15 4.09 2012 2013 2014 99.42 103.39 105.92 98.17 105.54 106.61 101.01 105.85 106.78 94.41 103.85 106.59 100.00 103.95 107.01 98.52 96.55 93.81 102.77 110.57 124.65 99.92 102.43 107.67 99.90 98.05 97.12 99.97 102.14 111.56 103.92 117.33 125.48 100.10 103.35 105.87 100.86 102.72 105.71 2015 2016 2017 107.37 108.23 110.69 107.45 106.21 109.84 107.61 106.34 110.10 106.28 101.29 100.86 109.61 111.78 114.84 94.62 96.20 97.82 127.36 128.61 128.96 107.34 107.44 105.43 96.21 95.75 95.75 117.33 125.51 127.80 125.82 127.65 128.05 107.46 108.81 111.51 107.35 108.86 110.96 Apr-16 May-16 Jun-16 107.64 107.70 107.78 105.28 105.22 104.92 105.35 105.21 104.88 103.73 103.30 100.23 110.96 111.48 111.58 94.38 93.11 94.52 128.51 128.51 128.52 107.43 107.43 107.43 95.75 95.75 95.75 125.51 125.51 125.51 129.65 129.65 129.81 107.96 108.07 108.41 108.38 108.48 108.68 Jul-16 Aug-16 Sep-16 108.08 107.72 108.36 105.03 103.28 105.80 105.03 103.14 105.93 101.63 94.87 102.23 112.00 112.13 112.26 96.73 96.64 97.15 128.67 128.90 128.90 107.38 107.38 107.38 95.75 95.75 95.75 125.51 125.51 125.51 126.78 126.80 126.80 108.61 108.78 108.87 109.03 109.10 109.16 Oct-16 Nov-16 Dec-16 109.38 109.43 109.61 108.78 108.41 108.69 109.15 108.73 109.01 98.26 98.13 99.69 112.74 113.27 113.38 98.57 98.51 98.79 129.02 128.93 128.93 107.40 107.38 107.38 95.75 95.75 95.75 125.51 125.51 125.51 127.44 127.34 127.47 110.29 110.37 110.44 109.56 109.75 109.90 Jan-17 Feb-17 Mar-17 110.00 110.19 110.43 109.62 110.29 109.27 110.06 110.81 109.56 98.62 100.41 100.34 113.52 113.64 113.70 98.50 99.54 99.51 129.05 128.83 128.88 107.40 107.05 107.05 95.75 95.75 95.75 127.80 127.80 127.80 127.47 127.47 127.46 110.94 111.00 111.27 110.12 110.17 110.80 Apr-17 May-17 Jun-17 110.48 110.76 110.13 109.00 111.82 110.87 109.26 112.21 111.18 99.84 103.15 104.78 113.97 114.12 112.97 99.51 94.93 94.81 128.88 129.01 129.01 106.78 105.01 104.71 95.75 95.75 95.75 127.80 127.80 127.80 127.46 127.46 127.46 111.36 111.39 110.57 110.94 110.43 109.90 Jul-17 Aug-17 Sep-17 110.64 110.37 111.04 110.10 108.27 109.82 110.31 108.32 109.99 106.73 100.00 102.82 114.38 114.86 115.88 97.77 97.93 97.78 129.01 129.00 128.95 104.52 104.52 104.49 95.75 95.75 95.75 127.80 127.80 127.80 127.46 127.46 127.46 110.97 111.23 111.72 110.81 111.02 111.42 Oct-17 Nov-17 Dec-17 111.07 111.14 112.06 109.38 108.50 111.16 109.52 108.55 111.48 99.59 93.68 100.30 116.39 116.91 117.74 97.90 97.85 97.86 128.93 129.01 128.95 104.54 104.56 104.56 95.75 95.75 95.75 127.80 127.80 127.80 127.46 130.55 131.35 112.02 112.58 113.04 111.59 111.96 112.34 Jan-18 Feb-18 Mar-18 112.32 112.84 112.47 110.90 112.60 110.27 111.25 113.11 110.56 97.14 105.96 101.56 118.11 118.17 118.40 98.06 97.83 98.04 129.10 129.92 129.90 104.61 104.99 104.97 95.75 95.75 95.75 133.03 133.03 133.03 131.35 131.90 131.90 113.58 113.41 113.37 112.76 112.92 113.16 2016 2017 2018 Source: National Bureau of Statistics 1/ The CPI Index for "Food" & "Total excluding Food & non-alcoholic beverages" is compiled starting from June 2012 onwards. Note: Annual data refers to twelve month average, monthly data refers to end of period. 13 | Monthly Statistics - April 2018
  17. Real Sector Table 5 .4 Inflation - Male', 2012 - 2018 (June 2012 = 100) y/y % change in CPI All items o/w Food & non-alcoholic beverages Period o/w Food 1/ o/w Fish (ND) Housing, water, Furnishing, household electricity, gas equipment & & other fuel routine maintenance of the house Health Transport Communications Education Restaurants & hotels Total excluding Fish (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) 2012 2013 2014 10.9 4.0 2.4 17.7 7.5 1.0 na 4.8 0.9 64.6 10.0 2.6 3.6 3.9 2.9 17.6 -2.0 -2.8 -24.5 7.6 12.7 9.0 2.5 5.1 -0.7 -1.9 -0.9 16.6 2.2 9.2 28.1 12.9 6.9 9.2 3.2 2.4 na 1.8 2.9 2015 2016 2017 1.4 0.8 2.3 0.8 -1.1 3.4 0.8 -1.2 3.5 -0.3 -4.7 -0.4 2.4 2.0 2.7 0.9 1.7 1.7 2.2 1.0 0.3 -0.3 0.1 -1.9 -0.9 -0.5 -0.0 5.2 7.0 1.8 0.3 1.5 0.3 1.5 1.3 2.5 1.6 1.4 1.9 Apr-16 May-16 Jun-16 0.6 0.8 -0.2 -0.1 -1.6 -4.4 0.1 -1.6 -4.7 -2.9 -2.0 -7.9 1.7 1.7 1.7 -2.3 5.6 0.8 0.8 0.9 0.8 -1.0 -0.1 -0.4 -0.4 -0.4 -0.4 7.0 7.0 7.0 3.2 3.2 3.4 0.9 1.1 0.5 0.8 1.6 1.2 Jul-16 Aug-16 Sep-16 0.1 -0.4 0.4 -3.4 -5.3 -2.2 -3.7 -5.7 -2.4 -7.0 -13.1 -2.4 1.7 1.6 1.7 2.3 1.0 1.9 0.9 1.1 1.1 -0.6 -0.5 -0.2 -0.4 -0.4 -0.3 7.0 7.0 7.0 0.5 0.6 0.6 0.7 0.7 0.6 1.2 1.2 1.2 Oct-16 Nov-16 Dec-16 1.2 1.1 1.8 -0.1 -1.4 1.1 -0.0 -1.6 1.1 -6.7 -12.7 -5.2 2.1 2.4 2.5 3.3 4.4 4.8 1.0 0.9 1.2 0.2 0.1 -0.2 -0.3 -0.1 0.0 7.0 7.0 7.0 1.1 1.0 1.1 1.8 2.3 2.4 1.6 1.9 2.1 Jan-17 Feb-17 Mar-17 2.0 2.2 2.8 2.6 3.0 3.8 2.8 3.2 4.0 -5.4 -5.4 -2.7 2.7 2.9 2.8 3.5 4.6 4.1 0.9 0.5 0.3 -0.2 -0.5 -0.4 -0.1 - 1.8 1.8 1.8 0.6 0.6 0.6 2.6 2.8 3.2 1.8 2.0 2.4 Apr-17 May-17 Jun-17 2.6 2.8 2.2 3.5 6.3 5.7 3.7 6.7 6.0 -3.8 -0.1 4.5 2.7 2.4 1.2 5.4 2.0 0.3 0.3 0.4 0.4 -0.6 -2.2 -2.5 - 1.8 1.8 1.8 -1.7 -1.7 -1.8 3.1 3.1 2.0 2.4 1.8 1.1 Jul-17 Aug-17 Sep-17 2.4 2.5 2.5 4.8 4.8 3.8 5.0 5.0 3.8 5.0 5.4 0.6 2.1 2.4 3.2 1.1 1.3 0.6 0.3 0.1 0.0 -2.7 -2.7 -2.7 - 1.8 1.8 1.8 0.5 0.5 0.5 2.2 2.2 2.6 1.6 1.8 2.1 Oct-17 Nov-17 Dec-17 1.5 1.6 2.2 0.6 0.1 2.3 0.3 -0.2 2.3 1.3 -4.5 0.6 3.2 3.2 3.8 -0.7 -0.7 -0.9 -0.1 0.1 0.0 -2.7 -2.6 -2.6 - 1.8 1.8 1.8 0.0 2.5 3.0 1.6 2.0 2.4 1.9 2.0 2.2 Jan-18 Feb-18 Mar-18 2.1 2.4 1.8 1.2 2.1 0.9 1.1 2.1 0.9 -1.5 5.5 1.2 4.0 4.0 4.1 -0.4 -1.7 -1.5 0.0 0.9 0.8 -2.6 -1.9 -1.9 - 4.1 4.1 4.1 3.0 3.5 3.5 2.4 2.2 1.9 2.4 2.5 2.1 2016 2017 2018 (12) Total excluding Food & nonalcoholic beverages1/ (13) Source: National Bureau of Statistics 1/ The CPI Index for "Food" & "Total excluding Food & non-alcoholic beverages" is compiled starting from June 2012 onwards. Note: Annual data refers to twelve month average, monthly data refers to end of period. Monthly Statistics - April 2018 | 14
  18. Real Sector Table 5 .5 Consumer Price Index - Atolls, 2012 - 2018 ¹⁄ (June 2012 = 100) All items o/w Food & non-alcoholic beverages o/w Food Period (1) Base Weight (2) o/w Fish (ND) (3) Housing, water, Furnishing, electricity, gas household & other fuel equipment & routine maintenance of the house (4) (5) (6) Health (7) Transport (8) Communications (9) Education (10) Restaurants & hotels (11) Total excluding Fish (12) Total excluding Food & nonalcoholic beverages (13) 100.00 32.41 29.97 9.50 14.77 9.86 7.19 5.79 4.58 1.94 2.11 2012 2013 2014 100.85 103.03 104.92 100.78 104.92 105.48 100.72 105.09 105.61 100.61 104.86 105.99 100.70 102.68 106.07 99.43 97.34 97.45 105.75 110.84 119.54 100.43 102.00 103.68 100.20 99.98 103.22 101.16 110.76 109.19 105.60 113.60 114.44 100.88 102.83 104.81 101.03 102.12 104.65 2015 2016 2017 105.54 105.80 109.28 105.79 107.56 115.04 105.85 107.79 115.67 105.36 105.96 111.90 104.27 101.03 99.15 97.90 98.33 99.08 122.09 124.71 124.16 99.66 96.82 99.17 104.57 103.53 103.28 121.33 123.82 133.24 113.16 115.68 121.62 105.56 105.78 109.01 105.42 104.95 106.52 Apr-16 May-16 Jun-16 104.35 104.43 104.78 104.22 104.87 105.87 104.18 104.87 105.97 104.01 106.56 107.75 100.31 100.14 100.14 96.75 96.29 97.47 124.79 124.87 124.90 97.51 95.89 94.73 104.67 103.99 103.34 124.00 124.00 124.00 113.66 113.66 113.66 104.39 104.20 104.47 104.42 104.21 104.26 Jul-16 Aug-16 Sep-16 105.05 105.17 105.37 105.61 105.54 106.61 105.68 105.62 106.78 106.35 104.56 106.10 100.24 100.77 100.76 98.43 98.89 99.30 124.90 125.21 124.80 94.68 94.68 94.68 103.34 103.34 102.18 124.00 124.00 124.00 113.59 113.57 113.75 104.91 105.24 105.30 104.78 105.00 104.78 Oct-16 Nov-16 Dec-16 108.28 108.02 108.42 114.38 113.13 113.90 115.15 113.80 114.64 106.23 104.19 105.57 100.84 101.00 101.87 99.95 100.01 100.24 124.78 124.83 124.84 97.00 99.61 99.61 102.50 102.50 102.50 124.00 124.00 124.00 121.80 121.80 121.80 108.50 108.42 108.72 105.36 105.57 105.80 Jan-17 Feb-17 Mar-17 109.07 109.62 110.75 114.86 115.97 116.06 115.66 116.85 116.80 108.52 113.13 114.80 103.18 103.56 103.61 100.12 101.08 101.08 124.11 124.03 124.00 100.29 100.29 100.29 102.50 102.50 102.50 133.24 133.24 133.24 121.80 121.66 121.64 109.13 109.25 110.32 106.30 106.58 108.20 Apr-17 May-17 Jun-17 110.69 110.93 109.42 115.99 117.96 115.02 116.68 118.76 115.61 114.71 122.54 114.06 103.48 103.65 100.60 100.90 98.09 97.70 124.01 124.09 124.08 100.05 99.37 98.25 102.50 102.50 102.50 133.24 133.24 133.24 121.64 121.64 121.64 110.27 109.71 108.94 108.15 107.55 106.74 Jul-17 Aug-17 Sep-17 108.83 108.33 108.81 115.09 113.65 115.06 115.68 114.13 115.66 114.73 110.25 114.25 95.28 95.29 95.36 98.71 98.51 98.34 124.10 124.14 124.14 98.06 98.11 98.55 104.33 104.33 104.33 133.24 133.24 133.24 121.64 121.69 121.69 108.21 108.13 108.24 105.83 105.78 105.81 Oct-17 Nov-17 Dec-17 108.23 107.80 108.89 113.11 112.10 115.60 113.52 112.44 116.22 106.78 100.16 108.87 95.34 95.25 95.24 98.43 97.98 98.00 124.41 124.41 124.45 99.25 98.76 98.80 104.15 104.15 103.00 133.24 133.24 133.24 121.48 121.48 121.48 108.38 108.60 108.89 105.89 105.74 105.67 Jan-18 Feb-18 Mar-18 109.30 109.43 109.30 116.46 116.56 116.07 117.18 117.28 116.75 112.04 113.54 112.30 95.27 95.66 95.64 98.45 98.50 98.34 124.56 124.49 124.49 99.14 99.64 100.64 103.54 103.54 103.54 133.24 133.24 133.24 121.48 121.48 121.48 109.01 109.00 108.98 105.87 106.01 106.05 2016 2017 2018 Source: National Bureau of Statistics 1/ The CPI Index for Atolls is compiled starting from June 2012 onwards. Note: Annual data refers to twelve month average, monthly data refers to end of period. 15 | Monthly Statistics - April 2018
  19. Real Sector Table 5 .6 Inflation - Atolls, 2013 - 2018 ¹⁄ (June 2012 = 100) y/y % change in CPI All items o/w Food & non-alcoholic beverages Period o/w Food o/w Fish (ND) Housing, water, Furnishing, electricity, gas household & other fuel equipment & routine maintenance of the house Health Transport Communications Education Restaurants & hotels (2) (3) (4) (5) (6) (7) (8) (9) (10) 2013 2014 2.2 1.8 4.1 0.5 4.3 0.5 4.2 1.1 2.0 3.3 -2.1 0.1 4.8 7.9 1.6 1.7 -0.2 3.2 9.5 -1.4 7.6 0.7 1.9 1.9 1.1 2.5 2015 2016 2017 0.6 0.2 3.3 0.3 1.7 7.0 0.2 1.8 7.3 -0.6 0.6 5.6 -1.7 -3.1 -1.9 0.5 0.4 0.8 2.1 2.1 -0.4 -3.9 -2.8 2.4 1.3 -1.0 -0.2 11.1 2.1 7.6 -1.1 2.2 5.1 0.7 0.2 3.1 0.7 -0.4 1.5 Apr-16 May-16 Jun-16 -0.9 -1.0 -1.3 -0.3 -1.0 -1.1 -0.3 -1.0 -1.1 -2.8 1.1 0.9 -3.7 -3.9 -3.9 -2.0 0.1 -0.0 3.7 3.8 1.7 -3.7 -4.3 -4.8 0.2 -0.5 -1.1 0.9 0.9 0.9 0.7 0.7 0.7 -0.7 -1.2 -1.5 -1.2 -1.0 -1.4 Jul-16 Aug-16 Sep-16 -0.8 -0.9 -0.7 -0.3 -1.0 -0.4 -0.3 -1.1 -0.3 2.1 -0.8 1.6 -3.8 -3.2 -3.2 0.4 0.8 1.4 1.6 1.2 0.8 -5.1 -4.9 -4.6 -1.1 -1.3 -2.4 0.9 0.9 0.9 0.5 0.5 0.7 -1.1 -0.9 -1.0 -1.0 -0.8 -0.9 Oct-16 Nov-16 Dec-16 2.2 1.9 2.7 7.4 5.6 7.9 8.0 6.1 8.6 3.5 -2.8 1.3 -3.2 -2.9 -2.1 2.2 2.5 3.0 0.6 0.7 0.8 -2.1 0.5 0.3 -2.1 -2.1 -2.1 0.9 0.9 0.9 7.8 7.8 7.8 2.0 2.3 2.9 -0.4 0.0 0.3 Jan-17 Feb-17 Mar-17 3.7 3.8 5.6 9.8 8.1 10.8 10.5 8.7 11.5 5.7 0.7 9.1 -0.9 2.3 2.6 2.9 3.5 3.4 0.1 0.0 -0.4 2.1 2.6 2.9 -2.1 -2.1 -2.1 8.4 8.4 7.4 7.2 7.1 7.0 3.5 4.1 5.3 0.8 1.7 3.1 Apr-17 May-17 Jun-17 6.1 6.2 4.4 11.3 12.5 8.6 12.0 13.2 9.1 10.3 15.0 5.9 3.2 3.5 0.5 4.3 1.9 0.2 -0.6 -0.6 -0.7 2.6 3.6 3.7 -2.1 -1.4 -0.8 7.4 7.4 7.4 7.0 7.0 7.0 5.6 5.3 4.3 3.6 3.2 2.4 Jul-17 Aug-17 Sep-17 3.6 3.0 3.3 9.0 7.7 7.9 9.5 8.1 8.3 7.9 5.4 7.7 -5.0 -5.4 -5.4 0.3 -0.4 -1.0 -0.6 -0.9 -0.5 3.6 3.6 4.1 1.0 1.0 2.1 7.5 7.5 7.5 7.1 7.1 7.0 3.1 2.7 2.8 1.0 0.7 1.0 Oct-17 Nov-17 Dec-17 -0.0 -0.2 0.4 -1.1 -0.9 1.5 -1.4 -1.2 1.4 0.5 -3.9 3.1 -5.5 -5.7 -6.5 -1.5 -2.0 -2.2 -0.3 -0.3 -0.3 2.3 -0.9 -0.8 1.6 1.6 0.5 7.5 7.5 7.5 -0.3 -0.3 -0.3 -0.1 0.2 0.2 0.5 0.2 -0.1 Jan-18 Feb-18 Mar-18 0.2 -0.2 -1.3 1.4 0.5 0.0 1.3 0.4 -0.0 3.2 0.4 -2.2 -7.7 -7.6 -7.7 -1.7 -2.6 -2.7 0.4 0.4 0.4 -1.2 -0.6 0.3 1.0 1.0 1.0 0.0 0.0 0.0 -0.3 -0.2 -0.1 -0.1 -0.2 -1.2 -0.4 -0.5 -2.0 2017 2018 (12) Total excluding Food & nonalcoholic beverages (1) 2016 (11) Total excluding Fish (13) Source: National Bureau of Statistics 1/ The CPI Index for Atolls is compiled starting from June 2012 onwards. Note: Annual data refers to twelve month average, monthly data refers to end of period. Monthly Statistics - April 2018 | 16
  20. Fiscal Sector Table 6 .1 Summary of Central Government Finance, 2012 - 2018 ¹⁄ (Millions of MVR) Total revenue & grants Period Current revenue (2+3+4) (1) 2012 2013 2014 2015 2016 2017 2018 3/ 3/ 3/ (2) Total expenditure Capital revenue (3) Grants (4) (6+7) (5) Deficit / Surplus Net lending Overall balance 2/ Current Capital expenditure expenditure (6) (7) In % of GDP (8) (1-5) (9) (10) Primary balance Financing Current balance (2-6) (12) (11) (14+15) (13) Foreign financing Domestic financing (14) (15) 10,138.1 11,900.7 15,164.2 9,723.4 11,515.0 14,874.8 48.1 268.1 124.1 366.7 117.7 165.3 13,200.2 13,666.3 16,539.4 10,316.5 11,573.2 13,960.0 2,883.7 2,093.0 2,579.4 -90.2 -135.5 -122.2 -2,971.9 -1,765.5 -1,375.1 -6.7 -3.5 -2.4 -1,864.8 -808.8 -396.8 -593.1 -58.2 914.9 2,971.9 1,765.5 1,375.1 772.2 472.6 -370.6 2,199.7 1,293.0 1,745.8 17,306.2 18,578.1 20,814.9 16,549.0 17,455.6 19,549.2 120.3 869.4 547.5 636.9 253.1 718.2 21,440.9 25,306.5 22,228.4 16,733.7 16,141.0 15,105.9 4,707.2 9,165.5 7,122.6 -104.0 -43.5 -62.2 -4,134.7 -6,728.4 -1,413.5 -6.7 -10.4 -2.0 -2,787.0 -5,546.1 -147.7 -184.8 1,314.6 4,443.3 4,134.7 6,728.4 1,413.5 -297.8 1,931.9 1,449.6 4,432.5 4,796.5 -36.1 22,400.7 21,625.7 41.3 733.7 24,894.6 16,066.2 8,828.4 -179.3 -2,493.9 -3.2 -1,057.4 5,559.5 2,493.9 1,744.1 749.8 y/y % change Revenue & grants Period 2012 2013 2014 2015 2016 2017 2018 3/ 3/ 3/ Current revenue Capital revenue Grants Total expenditure Current Capital expenditure expenditure Net lending Deficit / Surplus Overall balance Primary balance (18) (19) (20) (21) (22) (23) (24) (25) (26) (27) (28) (29) 2.4 17.4 27.4 12.6 18.4 29.2 -91.0 457.7 -53.7 -49.9 -67.9 40.5 4.2 3.5 21.0 13.7 12.2 20.6 -19.6 -27.4 23.2 77.4 -50.2 9.8 -25.9 40.6 22.1 -14.1 56.6 50.9 -35.4 90.2 {...} 25.9 -40.6 -22.1 -20.2 -38.8 -178.4 58.0 -41.2 35.0 14.1 7.3 12.0 11.3 5.5 12.0 -3.1 622.8 -37.0 285.4 -60.3 183.7 29.6 18.0 -12.2 19.9 -3.5 -6.4 82.5 94.7 -22.3 14.9 58.1 -42.8 -200.7 -62.7 79.0 -602.4 -99.0 97.3 -120.2 811.5 238.0 200.7 62.7 -79.0 19.7 748.8 -25.0 153.9 8.2 -100.8 7.6 10.6 -92.5 2.2 12.0 6.4 23.9 -188.5 -76.4 -615.8 25.1 76.4 20.3 {...} Overall balance for 2012 is calculated including net lending. Overall balance as a percentage of GDP is calculated using rebased GDP (base year 2014). Figures for 2016 are actuals and figures for 2017 are revised estimates. Figures for 2018 are forecasts as per the national budget approved by the parliament for 2018. 17 | Monthly Statistics - April 2018 Domestic financing (17) Source: Ministry of Finance & Treasury and National Bureau of Statistics Format based on IMF Government Finance Statistics Manual (GFSM 1986). 3/ Foreign financing (16) 1/ 2/ Financing Current balance
  21. Fiscal Sector Table 6 .2 Central Government Revenue and Grants, 2012 - 2018 ¹⁄ (Millions of MVR) Total revenue & grants Tax revenue Period (2+12+16+17) (1) 2012 2013 2014 2015 2016 2017 2/ 2018 2/ 2/ (3 to 11) (2) Nontax revenue Tourism tax GST on tourism (3) (4) Import duty (5) Goods & services tax Airport service charge (6) (7) Bank profit Business tax profit tax (8) (9) Green Tax (10) Others (11) Net sales to Resort public lease rent enterprises (13 to 15) (12) (13) (14) Others (15) Capital revenue Grants (16) (17) 10,138.1 11,900.7 15,164.2 6,880.1 8,872.8 10,837.9 804.7 861.6 804.8 1,553.6 2,154.7 3,001.8 1,369.0 1,575.9 1,975.2 1,005.7 1,538.4 1,512.9 299.9 350.3 432.0 313.2 355.0 482.4 1,401.3 1,881.0 2,471.4 - 132.7 156.0 157.4 2,843.3 2,642.1 4,037.0 633.3 475.9 781.9 1,031.2 1,106.3 1,534.5 1,178.8 1,059.9 1,720.5 48.1 268.1 124.1 366.7 117.7 165.3 17,306.2 18,578.1 20,814.9 12,270.6 13,293.0 14,595.3 0.6 0.2 - 4,150.3 3,920.7 4,137.7 2,346.4 2,487.4 2,741.6 1,904.2 2,328.1 2,630.0 496.7 537.5 704.0 512.7 491.7 649.9 2,673.6 2,748.0 2,666.1 36.7 623.1 683.0 149.3 156.5 383.0 4,278.3 4,162.6 4,953.9 488.7 627.9 1,030.3 1,247.0 1,357.4 1,629.4 2,542.6 2,177.3 2,294.2 120.3 869.4 547.5 636.9 253.1 718.2 22,400.7 16,301.0 - 4,311.3 3,029.6 3,148.0 648.2 571.0 3,525.0 757.3 310.6 5,324.7 1,116.3 1,905.1 2,303.3 41.3 733.7 y/y % change Period 2012 2013 2014 2015 2016 2017 2018 2/ 2/ Total revenue & Tax revenue grants Tourism tax GST on tourism (21) Import duty Goods & services tax Airport service charge Bank profit Business tax profit tax (22) (23) (24) (25) (26) (18) (19) (20) 2.4 17.4 27.4 40.6 29.0 22.1 7.2 7.1 -6.6 133.5 38.7 39.3 -47.1 15.1 25.3 313.9 53.0 -1.7 -11.1 16.8 23.3 36.2 13.4 35.9 {...} 34.2 31.4 14.1 7.3 12.0 13.2 8.3 9.8 -99.9 -76.2 -100.0 38.3 -5.5 5.5 18.8 6.0 10.2 25.9 22.3 13.0 15.0 8.2 31.0 6.3 -4.1 32.2 7.6 11.7 na 4.2 10.5 19.7 -7.9 -12.1 Green Tax (27) Others Nontax revenue Net sales to Resort public lease rent enterprises Others Capital revenue Grants (28) (29) (30) (31) (32) (33) (34) na na na 194.3 17.5 0.9 -24.1 -7.1 52.8 -35.0 -24.9 64.3 -10.5 7.3 38.7 -27.2 -10.1 62.3 -91.0 457.7 -53.7 -49.9 -67.9 40.5 8.2 2.8 -3.0 na {...} 9.6 -5.1 4.8 144.7 6.0 -2.7 19.0 -37.5 28.5 64.1 -18.7 8.9 20.0 47.8 -14.4 5.4 -3.1 622.8 -37.0 285.4 -60.3 183.7 32.2 10.9 -18.9 7.5 8.3 16.9 0.4 -92.5 2.2 Source: Ministry of Finance & Treasury 1/ Format based on IMF Government Finance Statistics Manual(GFSM 1986). 2/ Figures for 2016 are actuals and figures for 2017 are revised estimates. Figures for 2018 are forecasts as per the national budget approved by the parliament for 2018. Monthly Statistics - April 2018 | 18
  22. Fiscal Sector Table 6 .3 Central Government Expenditure and Net Lending, 2012 - 2018 ¹⁄ (Millions of MVR) Net Lending Total expenditure Period Salaries & wages (2+8+9+10) (1) 2012 2013 2014 2015 2016 2017 2/ 2018 2/ 2/ Interest payments Expenditure on goods & services ( 3 to 7) (2) (3) Other allowances (4) Transportation, Social welfare communication contributions & utilities (5) Others (6) (7) (8) Subsidies & transfers Capital Expenditure (9) (10) (11) 13,200.2 13,666.3 16,539.4 8,519.2 8,842.3 10,437.0 2,722.7 3,283.7 3,392.9 1,836.5 2,322.0 2,435.7 1,035.3 1,038.3 1,366.0 1,595.3 823.3 1,539.3 1,329.4 1,375.0 1,703.2 1,107.1 956.7 978.3 690.2 1,774.2 2,544.6 2,883.7 2,093.0 2,579.4 -90.2 -135.5 -122.2 21,440.9 25,306.5 22,228.4 13,631.3 13,953.8 13,085.5 3,929.2 4,029.6 4,002.1 2,891.5 2,868.9 3,085.7 2,050.3 1,633.9 1,614.2 1,609.8 2,327.4 1,745.9 3,150.6 3,093.9 2,637.6 1,347.6 1,182.3 1,265.8 1,754.8 1,004.9 754.6 4,707.2 9,165.5 7,122.6 -104.0 -43.5 -62.2 24,894.6 13,521.7 4,092.1 3,465.9 1,862.9 1,426.2 2,674.7 1,436.5 1,108.0 8,828.4 -179.3 y/y % change Period Total expenditure Expenditure on goods & services Salaries & wages Other allowances Transportation, Social welfare communication contributions & utilities Others Interest payments Subsidies & transfers Capital expenditure Net lending (12) (13) (14) (15) (16) (17) (18) (19) (20) (21) (22) 2012 2013 2014 4.2 3.5 21.0 15.9 3.8 18.0 4.9 20.6 3.3 9.0 26.4 4.9 4.5 0.3 31.6 58.6 -48.4 87.0 23.7 3.4 23.9 52.5 -13.6 2.3 -30.8 157.1 43.4 -19.6 -27.4 23.2 77.4 -50.2 9.8 2015 2016 2017 29.6 18.0 -12.2 30.6 2.4 -6.2 15.8 2.6 -0.7 18.7 -0.8 7.6 50.1 -20.3 -1.2 4.6 44.6 -25.0 85.0 -1.8 -14.8 37.7 -12.3 7.1 -31.0 -42.7 -24.9 82.5 94.7 -22.3 14.9 58.1 -42.8 12.0 3.3 2.2 12.3 15.4 -18.3 1.4 13.5 46.8 23.9 -188.5 2018 2/ 2/ Source: Ministry of Finance & Treasury 1/ Format based on IMF Government Finance Statistics Manual (GFSM 1986). 2/ Figures for 2016 are actuals and figures for 2017 are revised estimates. Figures for 2018 are forecasts as per the national budget approved by the parliament for 2018. 19 | Monthly Statistics - April 2018
  23. Fiscal Sector Table 6 .4 Central Government Revenue & Expenditure, 2016 - 2018 ¹⁄ (Millions of MVR) Total revenue & grants 2/ Total expenditure Total revenue Tax revenue Period 2016 Nontax revenue o/w Import duty (1) (3+7+10) (2) Current expenditure Grants (3) (4) GST 3/ (5) o/w SOE dividends Resort rent Business profit tax (6) (7) (8) (9) Capital Revenue (10) Total revenue & grants (16) (17) (18) (19) o/w (13+15) (12) (13) (14) Total expenditure Public sector Investment Program Salaries & wages (11) y/y % change Overall balance (surplus / deficit) Capital expenditure 4/ (15) Apr-16 May-16 Jun-16 1,290.1 1,720.3 1,592.4 1,279.0 1,713.2 1,598.9 1,000.8 1,260.4 1,082.1 193.8 207.4 185.9 609.1 554.8 434.5 29.6 37.3 230.8 276.7 451.9 515.7 10.0 262.7 13.9 64.9 25.9 196.6 1.4 1.0 1.2 19.8 13.6 15.3 1,935.5 1,875.9 2,284.3 1,214.4 1,315.4 1,226.6 340.4 343.3 317.1 721.1 560.5 1,057.8 454.3 418.8 958.9 -645.4 -155.6 -692.0 -0.2 25.1 21.3 -1.1 15.2 28.3 Jul-16 Aug-16 Sep-16 1,803.1 1,305.9 1,558.5 1,809.0 1,295.9 1,555.6 1,491.3 1,114.3 826.7 205.0 191.9 204.6 322.9 563.6 437.3 776.6 202.0 16.2 317.2 181.1 728.2 0.1 202.7 114.9 9.2 285.5 0.5 0.6 0.7 18.2 13.9 15.7 1,387.8 1,904.0 1,672.1 1,176.9 1,415.4 1,263.4 348.5 347.6 341.2 210.9 488.6 408.7 151.4 398.7 221.0 415.3 -598.1 -113.6 -10.6 -20.3 22.4 -15.4 3.4 -1.6 Oct-16 Nov-16 Dec-16 1,247.9 1,223.8 1,582.5 1,244.3 1,221.5 1,584.6 927.1 871.7 1,115.1 220.4 238.5 269.6 552.7 436.1 591.7 11.2 44.5 19.4 313.3 348.3 468.2 - 146.1 46.6 207.6 3.9 1.4 1.3 11.7 8.2 19.0 2,352.2 3,377.8 3,795.8 1,420.2 1,174.8 2,389.4 346.3 345.6 309.0 932.0 2,203.0 1,406.4 739.9 2,105.6 858.8 -1,104.4 -2,154.0 -2,213.3 13.0 5.3 18.8 44.5 118.6 79.1 Jan-17 Feb-17 Mar-17 2,410.7 1,542.1 1,702.3 2,423.2 1,526.0 1,701.2 1,857.6 1,360.5 1,178.8 211.8 312.1 166.6 766.9 580.3 728.0 690.1 274.2 18.0 564.3 164.3 518.0 - 148.5 5.7 260.5 1.3 1.1 4.4 10.8 20.0 13.0 1,162.1 1,134.2 1,535.3 1,036.9 988.3 1,134.5 331.7 354.6 337.3 125.2 145.9 400.7 102.9 92.8 390.4 1,248.6 407.9 167.0 28.4 -18.3 17.6 -5.7 -21.5 -23.0 Apr-17 May-17 Jun-17 1,326.8 1,818.3 1,331.1 1,315.3 1,810.1 1,257.7 1,059.8 1,473.3 761.7 192.7 241.0 190.6 559.0 697.9 240.1 18.8 21.1 27.1 250.1 335.1 494.8 15.6 159.4 24.5 79.7 7.7 193.9 5.3 1.6 1.2 20.0 14.1 75.1 1,857.5 1,593.3 1,595.7 1,197.4 1,307.9 1,085.0 333.9 330.7 331.8 660.1 285.4 510.8 536.4 249.7 469.4 -530.7 225.0 -264.6 2.8 5.7 -16.4 -4.0 -15.1 -30.1 Jul-17 Aug-17 Sep-17 2,482.7 1,680.6 1,227.8 2,479.4 1,590.9 1,216.7 2,019.3 993.9 852.2 251.5 232.3 206.8 630.3 475.7 447.4 815.2 123.5 23.3 458.4 593.8 360.7 135.0 281.9 15.1 157.0 3.7 206.7 1.8 3.2 3.7 16.5 94.5 14.0 2,167.2 2,150.8 1,778.3 1,362.5 1,397.7 1,256.6 343.5 335.2 332.6 804.7 753.0 521.7 717.4 525.8 472.5 315.5 -470.1 -550.5 37.7 28.7 -21.2 56.2 13.0 6.3 Oct-17 Nov-17 Dec-17 1,501.6 1,251.1 1,983.6 1,485.2 1,232.2 2,003.6 1,052.7 1,026.0 1,106.6 272.9 244.0 277.1 567.7 589.7 598.5 44.0 20.3 31.1 427.4 203.3 894.7 5.0 25.2 67.4 138.6 4.0 282.6 5.2 2.9 2.3 18.4 25.0 22.4 1,693.6 2,234.4 3,595.3 1,360.0 1,163.0 1,661.6 335.1 331.4 298.8 333.5 1,071.5 1,933.6 280.9 291.0 1,700.1 -192.0 -983.4 -1,611.6 20.3 2.2 25.3 -28.0 -33.9 -5.3 2018 Jan-18 Feb-18 Mar-18 2,464.2 1,706.0 1,806.1 2,494.1 1,673.0 1,803.0 2,068.9 1,337.4 1,196.4 245.7 214.7 123.7 820.1 788.7 795.0 744.9 80.6 66.2 423.1 335.2 605.5 77.9 40.8 80.2 3.8 311.2 2.0 0.5 1.0 0.1 35.2 3.3 1,295.6 1,526.0 1,894.7 1,143.9 1,353.0 1,366.6 330.9 337.0 342.6 151.6 172.9 528.1 48.2 87.0 406.9 1,168.7 180.1 -88.6 2.2 10.6 6.1 11.5 34.5 23.4 2017 2018 Jan - Mar Jan - Mar 5,655.1 5,976.4 5,650.4 5,970.1 4,396.9 4,602.8 690.4 584.2 2,075.2 2,403.7 982.2 891.8 1,246.6 1,363.8 118.8 414.7 395.2 6.9 3.5 43.8 38.7 3,831.5 4,716.2 3,159.7 3,863.6 1,023.6 1,010.5 671.9 852.6 586.1 542.1 1,823.6 1,260.2 8.5 5.7 -18.0 23.1 2017 Source: Ministry of Finance & Treasury 1/ Figures does not accord with the methodology of IMF's GFS Manual 1986 and these are not comparable with figures in 6.1, 6.2 and 6.3. Figures for total revenue is calculated excluding subsidiary loan repayments. Figures for GST includes tourism GST and general GST. 4/ From 2016 onwards figures for capital expenditure excludes loan repayments and subscriptions to multilateral agencies. Note: Figures from January 2018 has been revised. Figures for 2017 are likely to change due to ongoing reconciliation work by MoFT. 2/ 3/ Monthly Statistics - April 2018 | 20
  24. Fiscal Sector Table 6 .5 Claims on Central Government by Ownership, 2012 - 2018 (Millions of MVR) Memorandum items Exchange rate Claims on central govt. Treasury bills and Islamic instruments 1/ Period Central bank Commercial 2/ banks Treasury bonds 4/ Other financial corp. 3/ Public nonfinancial corp. Private sector Loans & advances 5/ Central bank Commercial banks (2+8+12) (1) (3 to 7) (2) 2012 2013 2014 14,452.2 16,907.6 20,644.3 6,450.6 8,194.3 11,146.4 829.6 634.0 - 3,539.2 3,952.1 5,908.5 1,438.5 2,368.5 3,426.5 362.7 1,239.7 1,343.3 280.6 468.1 4,664.7 3,136.6 6,440.5 3,892.1 3,136.6 6,440.5 772.7 - 2015 2016 2017 23,109.3 26,446.6 27,168.2 12,582.0 14,455.7 14,093.4 74.4 93.8 7,875.9 10,154.9 8,694.4 3,590.8 3,295.7 4,733.2 771.3 521.9 250.2 344.0 408.8 321.7 7,419.6 8,774.6 9,320.9 6,373.0 6,304.3 6,233.5 115.7 57.8 - Apr-16 May-16 Jun-16 24,169.6 24,425.1 24,549.3 13,622.9 13,361.1 13,495.3 - 8,743.3 8,975.0 9,047.6 3,927.4 3,516.2 3,588.5 660.4 578.1 547.4 291.8 291.8 311.8 7,412.3 7,914.9 7,903.2 6,349.8 6,344.3 6,338.4 Jul-16 Aug-16 Sep-16 24,386.3 24,739.3 25,023.7 13,387.6 13,280.4 13,558.6 - 9,033.6 9,302.2 9,542.9 3,680.0 3,336.5 3,454.5 376.2 343.9 315.4 297.8 297.8 245.8 7,834.3 8,282.9 8,284.9 Oct-16 Nov-16 Dec-16 25,603.8 26,154.6 26,446.6 13,616.9 14,161.3 14,455.7 74.4 9,760.0 10,232.7 10,154.9 3,082.7 3,182.3 3,295.7 530.4 502.5 521.9 243.8 243.8 408.8 Jan-17 Feb-17 Mar-17 26,316.5 26,396.0 26,455.8 14,317.3 14,401.2 13,802.5 74.5 74.5 74.4 10,060.8 9,981.2 9,955.6 3,411.8 3,485.3 2,907.3 363.4 413.4 418.4 Apr-17 May-17 Jun-17 26,945.7 27,280.3 27,011.9 13,815.7 13,973.3 13,517.4 77.2 77.3 77.2 9,955.8 10,210.1 9,825.7 2,929.5 2,854.2 2,877.3 Jul-17 Aug-17 Sep-17 26,412.1 25,452.9 25,498.1 12,977.9 12,407.8 12,449.3 83.4 89.5 93.8 9,291.0 8,577.7 8,138.7 Oct-17 Nov-17 Dec-17 25,702.9 26,339.6 27,168.2 12,645.5 13,273.5 14,093.4 93.9 93.8 93.8 Jan-18 Feb-18 Mar-18 27,134.5 26,821.7 26,900.6 14,049.3 14,150.0 14,236.3 93.8 96.5 96.5 2016 2017 2018 (3) (4) (5) (6) (11) (13) (14) (15) (16) 15.37 15.41 15.40 931.0 2,412.5 3,087.4 3,107.7 3,216.4 3,753.9 0.0 73.6 34.9 431.3 3,034.0 3,181.5 3,322.7 15.41 15.35 15.41 115.7 115.7 115.7 946.8 1,454.9 1,449.2 3,134.4 3,149.2 3,150.8 - 55.6 55.5 48.8 3,078.8 3,093.7 3,101.9 15.31 15.41 15.38 6,332.9 6,327.4 6,321.4 57.8 57.8 57.8 1,443.6 1,897.8 1,905.7 3,164.4 3,175.9 3,180.3 - 51.4 48.5 41.6 3,113.0 3,127.5 3,138.7 15.41 15.38 15.37 8,790.4 8,781.5 8,774.6 6,315.8 6,309.9 6,304.3 57.8 57.8 57.8 2,416.7 2,413.8 2,412.5 3,196.5 3,211.8 3,216.4 - 41.4 41.4 34.9 3,155.1 3,170.4 3,181.5 15.35 15.41 15.35 406.8 446.8 446.8 8,767.6 8,758.3 9,429.2 6,298.7 6,291.8 6,286.2 57.8 57.8 57.8 2,411.1 2,408.7 3,085.2 3,231.6 3,236.5 3,224.0 - 34.9 34.9 26.3 3,196.7 3,201.6 3,197.8 15.42 15.41 15.39 456.4 384.9 290.4 396.8 446.8 446.8 9,423.4 9,418.1 9,413.2 6,280.2 6,274.5 6,268.5 57.8 57.8 57.8 3,085.4 3,085.7 3,087.0 3,706.6 3,889.0 4,081.3 0.0 0.0 0.1 477.8 646.1 821.7 3,228.7 3,242.8 3,259.5 15.39 15.40 15.38 3,049.3 3,190.6 3,677.6 279.4 185.3 184.5 274.7 364.7 354.7 9,351.3 9,347.1 9,336.3 6,262.8 6,257.1 6,251.0 - 3,088.5 3,090.0 3,085.3 4,082.9 3,698.0 3,712.5 0.0 - 825.4 423.5 425.4 3,257.6 3,274.4 3,287.1 15.40 15.42 15.41 8,048.0 8,426.2 8,694.4 3,933.6 4,193.6 4,733.2 215.3 250.2 250.2 354.7 309.7 321.7 9,331.1 9,324.9 9,320.9 6,245.3 6,239.2 6,233.5 - 3,085.8 3,085.7 3,087.4 3,726.2 3,741.2 3,753.9 0.0 0.0 0.0 427.3 429.3 431.3 3,298.9 3,311.9 3,322.7 15.42 15.40 15.41 8,944.2 9,038.2 9,052.4 4,571.4 4,665.4 4,737.4 250.2 250.2 250.2 189.7 99.7 99.7 9,316.8 9,310.1 9,300.2 6,227.7 6,220.8 6,215.0 - 3,089.0 3,089.4 3,085.2 3,768.4 3,361.5 3,364.1 0.0 433.3 20.6 20.3 3,335.1 3,340.9 3,343.8 15.40 15.40 15.41 Figures represent dormant account and deposit insurance funds invested in government treasury bills. Includes pension funds, other fund accounts, finance and insurance companies. Includes the purchase price and accrued interest receivable of treasury bonds. Data includes accrued interest and accounts receivable. 6/ This includes recognition bond. - (13 to 15) (12) 2,561.8 2,539.2 2,931.4 Figures represent the face value of treasury bills and Islamic instruments. 21 | Monthly Statistics - April 2018 (10) 440.9 537.8 126.1 2/ 5/ (9) Other financial corp. 6/ 334.2 2,499.7 - 1/ 4/ (9 to 11) (8) Central bank Commercial banks 3,336.9 5,576.7 3,057.5 Source: Maldives Monetary Authority 3/ (7) Other financial corp.
  25. Fiscal Sector y /y % change Period Claims on central govt. Treasury Central bank Commercial bills and banks Islamic instruments Other financial corp. Public nonfinancial corp. Private sector Treasury bonds Central bank Commercial banks Other financial corp. Central bank Commercial banks Other financial corp. (28) (29) (30) (31) (17) (18) (19) (20) (21) (22) (23) (24) (25) (26) 2012 2013 2014 13.1 17.0 22.1 37.7 27.0 36.0 na -23.6 -100.0 1.4 11.7 49.5 141.8 64.7 44.7 -39.3 241.8 8.4 na -100.0 na -14.2 -32.8 105.3 -0.1 -19.4 105.3 -50.0 -100.0 na na na na 25.5 67.1 -45.2 {...} 647.9 -100.0 144.2 22.0 -76.6 4.4 -0.9 15.4 2015 2016 2017 11.9 14.4 2.7 12.9 14.9 -2.5 na na 26.2 33.3 28.9 -14.4 4.8 -8.2 43.6 -42.6 -32.3 -52.1 -26.5 18.8 -21.3 15.2 18.3 6.2 -1.0 -1.1 -1.1 na -50.0 -100.0 na 159.1 28.0 1.6 3.5 16.7 na na na -41.6 -52.6 {...} 3.5 4.9 4.4 Apr-16 May-16 Jun-16 12.6 13.7 13.6 13.4 11.0 10.8 na na na 27.2 29.9 30.9 4.9 -8.9 -8.6 -29.2 -35.1 -43.2 -37.3 -21.8 -16.4 15.5 23.4 23.4 -1.1 -1.1 -1.1 na na na na na na 3.7 3.9 3.8 na na na -36.3 -36.3 -38.0 4.9 5.0 4.9 Jul-16 Aug-16 Sep-16 11.5 12.8 10.9 13.1 11.7 8.3 na na na 26.6 27.9 23.4 3.8 -7.8 -8.2 -51.8 -44.9 -51.7 -20.3 -20.3 -34.2 12.1 18.6 18.7 -1.1 -1.1 -1.1 -50.0 -50.0 -50.0 205.8 302.1 303.7 3.9 3.8 4.0 na na na -34.5 -38.0 -40.5 4.9 4.9 5.0 Oct-16 Nov-16 Dec-16 10.7 13.8 14.4 4.1 9.6 14.9 na na na 17.1 30.8 28.9 -18.9 -19.9 -8.2 -24.5 -35.8 -32.3 2.4 -29.1 18.8 26.1 26.1 18.3 -1.1 -1.1 -1.1 -50.0 -50.0 -50.0 412.0 411.4 159.1 4.0 4.1 3.5 na na na -40.3 -40.4 -52.6 5.0 5.2 4.9 Jan-17 Feb-17 Mar-17 12.8 13.1 11.5 11.7 12.4 4.7 na na na 24.2 22.5 17.8 -7.4 -7.8 -24.2 -47.0 -35.5 -36.2 16.9 84.8 84.8 18.2 18.1 27.2 -1.1 -1.1 -1.1 -50.0 -50.0 -50.0 157.8 156.5 227.2 4.2 3.8 3.3 na na na -44.3 -43.3 -53.0 5.2 4.8 4.3 Apr-17 May-17 Jun-17 11.5 11.7 10.0 1.4 4.6 0.2 na na na 13.9 13.8 8.6 -25.4 -18.8 -19.8 -30.9 -33.4 -46.9 36.0 53.1 43.3 27.1 19.0 19.1 -1.1 -1.1 -1.1 -50.0 -50.0 -50.0 225.9 112.1 113.0 18.3 23.5 29.5 na na na 759.6 {...} {...} 4.9 4.8 5.1 Jul-17 Aug-17 Sep-17 8.3 2.9 1.9 -3.1 -6.6 -8.2 na na na 2.8 -7.8 -14.7 -17.1 -4.4 6.5 -25.7 -46.1 -41.5 -7.8 22.5 44.3 19.4 12.8 12.7 -1.1 -1.1 -1.1 -100.0 -100.0 -100.0 114.0 62.8 61.9 29.0 16.4 16.7 na na na {...} 774.0 922.7 4.6 4.7 4.7 Oct-17 Nov-17 Dec-17 0.4 0.7 2.7 -7.1 -6.3 -2.5 na na 26.2 -17.5 -17.7 -14.4 27.6 31.8 43.6 -59.4 -50.2 -52.1 45.5 27.0 -21.3 6.2 6.2 6.2 -1.1 -1.1 -1.1 -100.0 -100.0 -100.0 27.7 27.8 28.0 16.6 16.5 16.7 na na na 931.3 937.4 {...} 4.6 4.5 4.4 Jan-18 Feb-18 Mar-18 3.1 1.6 1.7 -1.9 -1.7 3.1 25.9 29.6 29.7 -11.1 -9.4 -9.1 34.0 33.9 63.0 -31.2 -39.5 -40.2 -53.4 -77.7 -77.7 6.3 6.3 -1.4 -1.1 -1.1 -1.1 -100.0 -100.0 -100.0 28.1 28.3 - 16.6 3.9 4.3 na na na {...} -40.9 -22.5 4.3 4.4 4.6 2016 2017 2018 (27) Loans & advances Monthly Statistics - April 2018 | 22
  26. Fiscal Sector Table 6 .6 Summary of Treasury Bills and Islamic Instruments, 2012 - 2018 (Millions of MVR) Treasury bills and Islamic instruments 1/ Period Issuance Matured 28 days 91 days 182 days 273 days 364 days (2) (3) (4) (5) (6) (2 to 6) (1) (8 to 12) (7) Outstanding 28 days 91 days 182 days 273 days 364 days (8) (9) (10) (11) (12) (14 to 18) (13) 28 days 91 days 182 days 273 days 364 days (14) (15) (16) (17) (18) 2012 2013 2014 32,580.4 52,636.8 44,590.1 21,702.3 44,463.8 26,177.3 5,692.3 3,815.6 6,740.1 2,869.5 1,293.0 7,124.1 50.0 2,316.3 3,064.5 4,498.5 30,814.2 50,893.8 41,638.1 20,372.7 44,071.3 27,368.5 6,302.5 3,667.6 6,252.9 4,139.0 838.5 4,952.2 - 2,316.4 3,064.5 6,450.6 8,194.3 11,146.4 2,571.1 2,963.5 1,772.2 1,029.8 1,178.3 1,665.7 533.5 988.0 3,160.0 50.0 2,316.2 3,064.5 4,498.5 2015 2016 2017 36,932.1 30,304.9 32,887.3 16,497.2 9,051.7 13,359.5 7,898.7 7,843.6 5,159.7 5,473.7 5,098.3 6,225.1 50.2 - 7,062.5 8,261.1 8,143.0 35,497.6 28,428.0 33,253.3 17,475.1 8,672.4 12,579.8 7,682.9 7,393.3 6,091.0 5,791.1 5,299.8 6,117.7 50.0 50.2 4,498.5 7,062.5 8,414.5 12,582.0 14,455.7 14,093.4 794.3 1,173.2 1,954.3 1,881.9 2,331.2 1,401.1 2,843.3 2,640.4 2,748.5 50.2 - 7,062.5 8,260.7 7,989.5 Apr-16 May-16 Jun-16 2,523.1 3,126.2 1,605.2 1,008.4 650.9 573.8 764.2 972.1 363.9 325.2 622.1 170.0 50.2 - 375.2 881.1 497.5 2,083.3 3,391.9 1,469.8 1,015.3 1,179.8 523.5 430.0 644.6 340.0 561.0 798.0 231.2 - 77.0 769.5 375.1 13,622.9 13,361.1 13,495.3 1,052.4 523.5 573.8 1,748.3 2,077.4 2,100.8 2,719.4 2,545.8 2,483.9 50.2 50.2 50.2 8,052.7 8,164.3 8,286.7 Jul-16 Aug-16 Sep-16 1,724.7 3,027.3 2,685.0 515.3 307.5 679.0 732.1 1,008.4 256.9 392.3 742.0 564.1 - 85.0 969.4 1,185.1 1,833.7 3,133.2 2,406.4 525.3 603.8 267.5 765.3 971.9 363.9 499.3 398.0 470.0 - 43.8 1,159.5 1,305.0 13,387.6 13,280.4 13,558.6 563.8 267.5 679.0 2,068.2 2,104.1 1,996.9 2,377.6 2,720.9 2,814.7 50.2 50.2 50.2 8,327.9 8,137.8 8,017.8 Oct-16 Nov-16 Dec-16 3,493.2 2,847.3 2,297.4 859.0 1,121.2 1,173.2 1,043.5 914.8 373.3 524.9 186.2 205.0 - 1,065.8 625.2 545.9 3,433.9 2,305.8 1,999.5 730.0 808.7 1,120.1 766.5 973.7 256.8 571.6 348.4 170.0 - 1,365.9 175.0 452.7 13,616.9 14,161.3 14,455.7 808.0 1,121.2 1,173.2 2,273.4 2,215.9 2,331.2 2,767.6 2,606.2 2,640.4 50.2 50.2 50.2 7,717.7 8,167.9 8,260.7 Jan-17 Feb-17 Mar-17 3,707.8 3,355.4 2,106.7 1,165.0 1,360.7 849.4 415.3 556.5 310.9 991.5 504.7 450.0 - 1,136.0 933.5 496.5 3,850.4 3,271.2 2,704.5 1,209.7 1,073.5 1,417.0 1,044.2 914.8 373.5 464.2 697.0 564.1 37.4 - 1,095.0 586.0 350.0 14,317.3 14,401.2 13,802.5 1,130.0 1,417.2 849.4 1,703.7 1,345.3 1,282.5 3,168.6 2,976.2 2,861.9 12.8 12.8 12.8 8,302.2 8,649.6 8,796.0 Apr-17 May-17 Jun-17 2,046.8 2,666.7 1,248.4 774.1 928.8 597.4 315.9 769.4 146.9 475.4 675.0 380.1 - 481.3 293.5 124.0 2,033.6 2,509.7 1,703.2 849.4 805.0 790.0 352.3 619.4 280.7 439.9 271.2 135.0 - 392.0 814.1 497.5 13,815.7 13,973.3 13,517.4 774.1 898.0 705.1 1,246.1 1,396.3 1,262.1 2,897.4 3,301.3 3,546.1 12.8 12.8 12.8 8,885.4 8,364.9 7,991.3 Jul-17 Aug-17 Sep-17 1,896.0 3,121.7 1,686.6 895.0 592.3 1,194.2 379.6 707.2 157.0 335.8 110.0 140.0 - 285.5 1,712.2 195.4 2,436.4 3,692.5 1,644.7 921.8 678.9 592.1 345.9 769.5 147.1 1,061.2 504.7 450.0 12.8 - 94.7 1,739.4 455.5 12,977.9 12,407.8 12,449.3 678.6 592.3 1,194.2 1,296.0 1,234.0 1,243.8 2,821.0 2,426.4 2,116.3 - 8,182.3 8,155.2 7,895.0 Oct-17 Nov-17 Dec-17 3,509.9 3,868.1 3,673.1 1,551.4 1,496.9 1,954.3 356.3 725.1 319.7 370.4 1,170.5 621.7 - 1,231.8 475.6 777.4 3,314.1 3,239.3 2,853.6 1,240.2 1,385.1 1,617.1 379.6 707.1 157.0 475.4 675.0 380.1 - 1,218.8 472.1 699.4 12,645.5 13,273.5 14,093.4 1,505.5 1,616.9 1,954.3 1,220.5 1,238.4 1,401.1 2,011.4 2,506.8 2,748.5 - 7,908.1 7,911.4 7,989.5 Jan-18 Feb-18 Mar-18 3,585.1 3,578.6 2,780.1 1,709.3 1,737.8 1,647.6 417.3 703.1 360.4 377.3 60.0 345.0 - 1,081.2 1,077.7 427.0 3,628.7 3,477.9 2,694.3 1,954.1 1,709.3 1,738.1 356.3 725.1 319.7 335.8 110.0 140.0 - 982.5 933.5 496.5 14,049.3 14,150.0 14,236.3 1,709.3 1,737.8 1,647.6 1,462.0 1,440.0 1,480.9 2,789.9 2,739.9 2,945.0 - 8,088.1 8,232.3 8,162.9 2016 2017 2018 Source: Maldives Monetary Authority 1/ Represent the face value of treasury bills and Islamic instruments. 23 | Monthly Statistics - April 2018
  27. Fiscal Sector y /y % change Period Treasury bills and Islamic instruments Issuance Matured Outstanding 28 days 91 days 182 days 273 days 364 days (25) (26) (19) (20) (21) (22) (23) (24) 2012 2013 2014 50.1 61.6 -15.3 46.3 65.2 -18.2 37.7 27.0 36.0 107.1 15.3 -40.2 -37.2 14.4 41.4 -70.4 85.2 219.8 na na na na 32.3 46.8 2015 2016 2017 -17.2 -17.9 8.5 -14.7 -19.9 17.0 12.9 14.9 -2.5 -55.2 47.7 66.6 13.0 23.9 -39.9 -10.0 -7.1 4.1 -100.0 na -100.0 57.0 17.0 -3.3 Apr-16 May-16 Jun-16 -18.0 -20.8 -61.7 -21.3 -13.7 -63.7 13.4 11.0 10.8 -32.9 -73.8 -73.0 4.5 11.7 6.0 -29.0 -27.0 -5.7 {...} {...} na 62.9 74.2 52.3 Jul-16 Aug-16 Sep-16 -39.7 -20.2 -12.7 -42.7 -16.1 -1.6 13.1 11.7 8.3 -66.7 -76.0 94.8 -3.5 -1.6 -20.0 -11.5 -1.4 -8.2 na na na 56.9 38.4 21.3 Oct-16 Nov-16 Dec-16 23.9 6.1 22.3 51.9 -18.8 -10.1 4.1 9.6 14.9 89.2 67.5 47.7 -3.1 -1.9 23.9 -2.0 -3.0 -7.1 na na na 3.2 11.7 17.0 Jan-17 Feb-17 Mar-17 49.1 47.8 -5.1 71.2 43.6 46.8 11.7 12.4 4.7 98.7 190.8 -19.8 -2.3 -8.8 -9.3 5.6 -3.4 -3.2 na na na 10.6 11.4 13.4 Apr-17 May-17 Jun-17 -18.9 -14.7 -22.2 -2.4 -26.0 15.9 1.4 4.6 0.2 -26.4 71.5 22.9 -28.7 -32.8 -39.9 6.5 29.7 42.8 -74.6 -74.6 -74.6 10.3 2.5 -3.6 Jul-17 Aug-17 Sep-17 9.9 3.1 -37.2 32.9 17.9 -31.7 -3.1 -6.6 -8.2 20.4 121.4 75.9 -37.3 -41.4 -37.7 18.6 -10.8 -24.8 -100.0 -100.0 -100.0 -1.7 0.2 -1.5 Oct-17 Nov-17 Dec-17 0.5 35.9 59.9 -3.5 40.5 42.7 -7.1 -6.3 -2.5 86.3 44.2 66.6 -46.3 -44.1 -39.9 -27.3 -3.8 4.1 -100.0 -100.0 -100.0 2.5 -3.1 -3.3 Jan-18 Feb-18 Mar-18 -3.3 6.7 32.0 -5.8 6.3 -0.4 -1.9 -1.7 3.1 51.3 22.6 94.0 -14.2 7.0 15.5 -12.0 -7.9 2.9 -100.0 -100.0 -100.0 -2.6 -4.8 -7.2 2016 2017 2018 Monthly Statistics - April 2018 | 24
  28. Financial Sector Table 7 .1 Central Bank Survey, 2012 - 2018 (Millions of MVR) Net foreign assets Net domestic assets Claims on Liabilities to nonresidents nonresidents Monetary base Domestic claims Net claims on central govt. Period o/w Claims on central govt. (2+3) (1) (2) (3) (5+9) (6+8) (4) (5) Claims on other sectors Other items (net) Currency in circulation Liabilities to Liabilities to ODC other sectors (11 to 13) (6) (7) (8) (9) (10) (11) (12) (13) 2012 2013 2014 4,241.0 5,308.0 9,110.0 4,689.6 5,685.1 9,475.7 -448.6 -377.1 -365.8 3,940.9 4,321.1 3,392.4 4,692.4 5,969.1 5,330.8 4,685.5 5,961.6 5,324.2 5,005.9 6,260.1 6,440.5 6.9 7.5 6.5 -751.6 -1,648.0 -1,938.4 8,181.9 9,629.1 12,502.3 2,475.5 3,252.4 3,099.4 5,705.7 6,375.1 9,401.8 0.6 1.6 1.1 2015 2016 2017 8,227.2 5,247.5 8,603.3 8,700.9 7,181.3 9,041.0 -473.6 -1,933.9 -437.7 2,046.8 3,730.2 2,079.9 5,547.3 7,444.6 6,003.1 5,455.3 5,279.3 4,400.5 6,373.0 6,372.4 6,314.4 92.0 2,165.3 1,602.6 -3,500.4 -3,714.4 -3,923.3 10,274.1 8,977.7 10,683.2 3,220.7 3,243.5 3,496.3 7,052.3 5,734.2 7,186.9 1.1 - Apr-16 May-16 Jun-16 10,384.7 9,248.8 9,140.5 10,836.9 9,630.3 9,605.1 -452.2 -381.5 -464.7 1,548.2 1,914.2 2,128.0 5,419.1 5,311.8 5,270.4 5,350.8 5,253.8 5,216.6 6,349.8 6,344.3 6,338.4 68.3 57.9 53.8 -3,870.9 -3,397.6 -3,142.4 11,932.9 11,163.0 11,268.5 3,320.9 3,306.9 3,457.4 8,612.0 7,856.1 7,811.2 - Jul-16 Aug-16 Sep-16 9,086.2 7,793.8 7,981.2 9,442.8 8,218.2 8,329.9 -356.5 -424.4 -348.7 1,974.0 1,947.1 1,964.6 5,253.6 5,479.8 5,569.0 5,207.8 5,442.4 5,536.5 6,332.9 6,327.4 6,321.4 45.8 37.4 32.5 -3,279.5 -3,532.7 -3,604.4 11,060.3 9,740.9 9,945.8 3,475.7 3,198.0 3,175.2 7,584.6 6,542.9 6,770.5 - Oct-16 Nov-16 Dec-16 7,986.4 4,843.1 5,247.5 8,345.4 5,194.9 7,181.3 -358.9 -351.9 -1,933.9 2,308.6 3,810.1 3,730.2 5,381.9 7,252.2 7,444.6 5,355.8 5,051.9 5,279.3 6,315.8 6,309.9 6,372.4 26.0 2,200.3 2,165.3 -3,073.2 -3,442.2 -3,714.4 10,295.0 8,653.1 8,977.7 3,351.9 3,254.1 3,243.5 6,943.2 5,399.0 5,734.2 - Jan-17 Feb-17 Mar-17 5,444.1 6,032.3 5,785.4 7,331.7 7,958.0 7,703.0 -1,887.6 -1,925.8 -1,917.7 3,200.2 3,837.4 3,542.4 7,236.0 7,412.7 7,480.6 5,114.5 5,354.6 5,481.8 6,366.3 6,359.1 6,353.3 2,121.5 2,058.1 1,998.8 -4,035.8 -3,575.3 -3,938.2 8,644.2 9,869.7 9,327.7 3,138.3 3,231.7 3,301.8 5,505.9 6,638.0 6,025.9 - Apr-17 May-17 Jun-17 5,619.7 6,362.9 8,792.3 7,609.5 8,268.8 9,236.5 -1,989.8 -1,905.8 -444.2 3,706.1 4,511.7 1,429.6 7,436.6 7,189.7 4,237.8 5,497.2 5,310.3 2,417.9 6,347.2 6,341.4 6,335.2 1,939.4 1,879.4 1,819.8 -3,730.5 -2,678.0 -2,808.2 9,325.8 10,874.6 10,221.9 3,361.4 3,392.1 3,492.3 5,964.4 7,482.6 6,729.6 - Jul-17 Aug-17 Sep-17 8,443.3 8,163.6 7,668.8 8,810.4 8,652.8 7,994.3 -367.2 -489.2 -325.5 1,834.4 1,277.8 2,203.0 4,903.0 5,291.4 5,977.2 3,137.5 3,589.3 4,333.7 6,335.7 6,336.0 6,331.8 1,765.5 1,702.1 1,643.6 -3,068.7 -4,013.6 -3,774.2 10,277.6 9,441.4 9,871.8 3,409.8 3,422.9 3,354.8 6,867.9 6,018.6 6,517.1 - Oct-17 Nov-17 Dec-17 7,245.2 7,814.8 8,603.3 7,632.4 8,169.6 9,041.0 -387.1 -354.8 -437.7 2,243.1 2,920.0 2,079.9 6,159.4 6,789.3 6,003.1 4,571.7 5,140.3 4,400.5 6,326.0 6,320.0 6,314.4 1,587.8 1,649.0 1,602.6 -3,916.3 -3,869.3 -3,923.3 9,488.3 10,734.8 10,683.2 3,402.8 3,491.1 3,496.3 6,085.6 7,243.7 7,186.9 - Jan-18 Feb-18 Mar-18 9,265.4 10,502.9 10,727.8 9,647.1 10,949.0 11,091.2 -381.7 -446.1 -363.4 1,297.1 873.2 1,302.7 5,399.6 5,156.6 5,483.9 3,856.0 3,672.0 3,809.5 6,308.1 6,301.7 6,296.1 1,543.7 1,484.6 1,674.4 -4,102.5 -4,283.5 -4,181.2 10,562.6 11,376.1 12,030.5 3,338.2 3,407.4 3,452.5 7,224.4 7,968.7 8,578.0 - 2016 2017 2018 Source: Maldives Monetary Authority 25 | Monthly Statistics - April 2018
  29. Financial Sector y /y % change Net foreign assets Claims on Liabilities to nonresidents nonresidents Period Net claims on central govt. Monetary base Currency in circulation Liabilities to ODC (14) (15) (16) (17) (18) (19) (20) 2012 2013 2014 -10.3 25.2 71.6 -9.3 21.2 66.7 1.0 -15.9 -3.0 32.8 27.2 -10.7 8.4 17.7 29.8 12.7 31.4 -4.7 7.8 11.7 47.5 2015 2016 2017 -9.7 -36.2 64.0 -8.2 -17.5 25.9 29.5 308.3 -77.4 2.5 -3.2 -16.6 -17.8 -12.6 19.0 3.9 0.7 7.8 -25.0 -18.7 25.3 Apr-16 May-16 Jun-16 5.3 -12.0 -13.8 6.0 -11.0 -12.5 25.1 24.7 23.0 -0.0 5.9 -1.3 -8.6 -15.4 -13.5 0.4 -1.4 1.9 -10.6 -20.1 -18.9 Jul-16 Aug-16 Sep-16 -12.6 -21.2 -14.6 -11.4 -19.8 -13.8 35.1 20.8 9.0 9.1 13.9 24.4 -15.1 -11.4 -5.2 -0.0 -3.1 -5.2 -20.6 -14.9 -5.2 Oct-16 Nov-16 Dec-16 -4.4 -42.0 -36.2 -4.3 -40.3 -17.5 -3.2 0.0 308.3 17.8 -1.1 -3.2 1.5 -14.8 -12.6 1.5 -1.0 0.7 1.6 -21.3 -18.7 Jan-17 Feb-17 Mar-17 -37.5 -41.7 -40.7 -19.4 -26.2 -24.2 399.1 349.0 375.1 -0.9 3.4 2.2 -19.6 -14.1 -16.3 -10.9 -1.7 0.2 -23.8 -19.0 -23.2 Apr-17 May-17 Jun-17 -45.9 -31.2 -3.8 -29.8 -14.1 -3.8 340.0 399.6 -4.4 2.7 1.1 -53.6 -21.8 -2.6 -9.3 1.2 2.6 1.0 -30.7 -4.8 -13.8 Jul-17 Aug-17 Sep-17 -7.1 4.7 -3.9 -6.7 5.3 -4.0 3.0 15.3 -6.7 -39.8 -34.0 -21.7 -7.1 -3.1 -0.7 -1.9 7.0 5.7 -9.4 -8.0 -3.7 Oct-17 Nov-17 Dec-17 -9.3 61.4 64.0 -8.5 57.3 25.9 7.9 0.8 -77.4 -14.6 1.8 -16.6 -7.8 24.1 19.0 1.5 7.3 7.8 -12.4 34.2 25.3 Jan-18 Feb-18 Mar-18 70.2 74.1 85.4 31.6 37.6 44.0 -79.8 -76.8 -81.1 -24.6 -31.4 -30.5 22.2 15.3 29.0 6.4 5.4 4.6 31.2 20.0 42.4 2016 2017 2018 Monthly Statistics - April 2018 | 26
  30. Financial Sector Table 7 .2 Other Depository Corporations Survey, 2012 - 2018 (Millions of MVR) Net foreign assets Net domestic assets Claims on Liabilities to nonresidents nonresidents Domestic claims Claims on Net claims on central govt. central bank o/w Claims on central govt. Period (2+3) (1) (2) (3) (5+13) (6+7+9) (4) (5) Claims on other sectors Claims on OFC Claims on public nonfinancial corp. Claims on pvt. sector Transferable, other deposits & securities Other items other than (net) shares included in broad money (10 to 12) (6) (7) (8) (9) (10) (11) (12) (13) (14) 2012 2013 2014 1,017.3 3,505.4 3,410.0 2,684.8 4,727.8 4,600.5 -1,667.6 -1,222.4 -1,190.6 16,866.9 17,367.9 21,103.3 25,452.6 26,805.1 31,983.6 6,251.4 7,810.5 11,496.6 2,964.0 2,680.5 3,821.3 4,735.5 4,475.0 5,914.3 16,237.2 16,314.1 16,665.7 161.0 109.2 288.3 1,577.6 1,574.4 1,333.8 14,498.6 14,630.4 15,043.6 -8,585.6 -9,437.2 -10,880.2 17,884.2 20,873.3 24,513.3 2015 2016 2017 4,070.1 2,621.3 1,688.6 5,112.8 4,519.4 3,906.5 -1,042.6 -1,898.1 -2,218.0 23,664.6 25,119.9 27,405.0 35,257.1 38,237.7 41,797.9 10,810.1 9,681.6 11,091.0 5,924.7 8,115.1 7,230.1 7,858.1 10,109.1 9,003.1 18,522.3 20,440.9 23,476.7 303.9 429.7 572.3 1,408.2 1,434.3 1,619.7 16,810.3 18,576.9 21,284.7 -11,592.5 -13,117.7 -14,392.9 27,734.7 27,741.3 29,093.5 Apr-16 May-16 Jun-16 3,562.2 3,571.1 3,316.8 4,798.7 5,268.9 5,005.8 -1,236.6 -1,697.8 -1,689.0 26,381.5 26,299.8 25,744.4 38,673.5 37,994.4 38,196.2 13,031.9 11,628.2 11,496.3 6,645.7 7,136.6 7,260.0 8,762.8 8,985.8 9,072.7 18,996.0 19,229.6 19,439.9 285.4 323.0 345.3 1,319.9 1,408.6 1,417.3 17,390.6 17,497.9 17,677.3 -12,292.0 -11,694.6 -12,451.8 29,943.6 29,870.9 29,061.2 Jul-16 Aug-16 Sep-16 3,559.5 4,172.9 3,712.6 5,231.7 5,833.5 5,388.4 -1,672.2 -1,660.6 -1,675.8 25,782.6 24,974.3 25,464.9 38,345.3 37,749.1 38,339.6 11,517.3 10,340.7 10,696.6 7,201.5 7,445.2 7,639.5 9,018.0 9,274.6 9,497.3 19,626.5 19,963.2 20,003.4 373.8 343.6 364.4 1,410.0 1,401.0 1,346.3 17,842.6 18,218.7 18,292.7 -12,562.7 -12,774.8 -12,874.7 29,342.1 29,147.2 29,177.4 Oct-16 Nov-16 Dec-16 3,612.1 2,854.4 2,621.3 5,284.6 4,707.9 4,519.4 -1,672.5 -1,853.5 -1,898.1 25,210.3 24,141.2 25,119.9 38,200.2 37,268.2 38,237.7 10,429.9 8,991.4 9,681.6 7,643.7 8,192.4 8,115.1 9,693.5 10,169.9 10,109.1 20,126.6 20,084.4 20,440.9 416.7 382.6 429.7 1,446.3 1,428.0 1,434.3 18,263.7 18,273.8 18,576.9 -12,989.9 -13,127.0 -13,117.7 28,822.4 26,995.6 27,741.3 Jan-17 Feb-17 Mar-17 3,252.4 3,236.3 2,639.6 5,137.8 5,279.6 4,619.8 -1,885.5 -2,043.3 -1,980.2 24,706.7 25,352.6 25,603.0 38,155.3 38,861.7 38,890.0 9,755.2 10,323.8 10,149.4 7,859.1 7,568.3 7,560.8 9,997.5 9,898.4 9,867.2 20,541.0 20,969.6 21,179.8 445.1 456.3 517.6 1,449.0 1,484.9 1,518.2 18,646.8 19,028.5 19,144.0 -13,448.6 -13,509.1 -13,287.0 27,959.1 28,588.9 28,242.7 Apr-17 May-17 Jun-17 3,482.9 1,578.9 2,279.3 5,538.7 3,605.4 3,928.1 -2,055.8 -2,026.4 -1,648.8 25,564.8 26,817.6 26,749.0 39,291.5 40,545.9 40,596.7 9,884.6 9,985.9 9,750.3 8,201.3 9,116.6 9,047.6 10,329.9 10,765.2 10,579.0 21,205.6 21,443.3 21,798.7 516.3 512.7 544.2 1,506.8 1,458.7 1,451.2 19,182.5 19,471.9 19,803.3 -13,726.7 -13,728.3 -13,847.7 29,047.7 28,396.5 29,028.3 Jul-17 Aug-17 Sep-17 1,268.0 938.9 1,007.7 3,247.8 3,022.4 3,230.3 -1,979.7 -2,083.6 -2,222.6 27,072.5 26,606.5 26,106.8 40,827.9 40,187.5 39,929.5 10,132.0 10,242.1 10,346.6 8,493.0 7,393.6 6,877.9 10,012.7 8,879.1 8,462.3 22,203.0 22,551.8 22,705.0 568.0 547.1 514.2 1,534.4 1,536.6 1,544.9 20,100.6 20,468.2 20,645.9 -13,755.5 -13,581.0 -13,822.7 28,340.5 27,545.3 27,114.6 Oct-17 Nov-17 Dec-17 1,615.2 935.1 1,688.6 3,803.6 3,469.3 3,906.5 -2,188.4 -2,534.1 -2,218.0 26,135.3 27,496.6 27,405.0 39,977.7 41,776.8 41,797.9 10,112.0 11,240.3 11,091.0 6,793.4 7,105.0 7,230.1 8,351.0 8,721.4 9,003.1 23,072.3 23,431.5 23,476.7 566.0 555.2 572.3 1,614.0 1,586.5 1,619.7 20,892.3 21,289.9 21,284.7 -13,842.4 -14,280.1 -14,392.9 27,750.5 28,431.8 29,093.5 Jan-18 Feb-18 Mar-18 2,129.8 1,900.9 1,783.1 4,577.4 4,334.4 3,972.3 -2,447.6 -2,433.5 -2,189.2 28,178.8 28,564.1 28,854.4 43,283.5 43,245.2 43,628.4 11,606.0 12,181.3 12,629.6 7,518.3 7,158.2 7,111.0 9,249.2 8,909.6 8,930.2 24,159.2 23,905.7 23,887.8 602.8 597.6 626.2 1,758.4 1,702.7 1,643.0 21,798.1 21,605.4 21,618.6 -15,104.6 -14,681.1 -14,774.0 30,308.6 30,465.0 30,637.5 2016 2017 2018 Source: Maldives Monetary Authority 27 | Monthly Statistics - April 2018
  31. Financial Sector y /y % change Net foreign assets Claims on Liabilities to Claims on nonresidents nonresidents central bank Period Net claims on central govt. Claims on OFC Claims on public nonfinancial corp. Claims on pvt. sector (15) (16) (17) (18) (19) (20) (21) (22) 2012 2013 2014 154.9 244.6 -2.7 52.9 76.1 -2.7 -53.8 -26.7 -2.6 9.7 24.9 47.2 -10.3 -9.6 42.6 63.0 -32.2 164.0 -5.4 -0.2 -15.3 -9.9 0.9 2.8 2015 2016 2017 19.4 -35.6 -35.6 11.1 -11.6 -13.6 -12.4 82.0 16.9 -6.0 -10.4 14.6 55.0 37.0 -10.9 5.4 41.4 33.2 5.6 1.9 12.9 11.7 10.5 14.6 Apr-16 May-16 Jun-16 -30.0 -25.0 -20.8 -20.3 -7.6 -3.8 32.6 80.9 66.1 7.6 -7.8 -11.2 49.8 59.3 61.1 8.0 6.3 11.0 4.8 14.4 17.3 17.0 17.9 20.1 Jul-16 Aug-16 Sep-16 -17.4 8.4 -4.4 1.0 23.1 13.5 92.1 86.5 93.9 -8.4 -12.1 -3.7 34.8 35.9 30.9 27.8 6.6 19.7 16.1 3.8 -14.2 20.0 17.8 14.7 Oct-16 Nov-16 Dec-16 -1.4 -26.9 -35.6 16.4 -2.6 -11.6 90.7 98.9 82.0 2.1 -17.1 -10.4 20.7 39.4 37.0 46.3 17.8 41.4 -2.4 2.8 1.9 11.9 10.1 10.5 Jan-17 Feb-17 Mar-17 -32.7 -25.6 -40.7 -12.3 -1.4 -17.7 84.0 103.7 70.8 -14.8 -20.6 -17.0 29.2 23.9 19.0 41.4 36.0 78.7 6.0 8.1 5.5 11.2 12.1 11.7 Apr-17 May-17 Jun-17 -2.2 -55.8 -31.3 15.4 -31.6 -21.5 66.3 19.4 -2.4 -24.2 -14.1 -15.2 23.4 27.7 24.6 80.9 58.8 57.6 14.2 3.6 2.4 10.3 11.3 12.0 Jul-17 Aug-17 Sep-17 -64.4 -77.5 -72.9 -37.9 -48.2 -40.1 18.4 25.5 32.6 -12.0 -1.0 -3.3 17.9 -0.7 -10.0 51.9 59.2 41.1 8.8 9.7 14.8 12.7 12.3 12.9 Oct-17 Nov-17 Dec-17 -55.3 -67.2 -35.6 -28.0 -26.3 -13.6 30.8 36.7 16.9 -3.0 25.0 14.6 -11.1 -13.3 -10.9 35.8 45.1 33.2 11.6 11.1 12.9 14.4 16.5 14.6 Jan-18 Feb-18 Mar-18 -34.5 -41.3 -32.4 -10.9 -17.9 -14.0 29.8 19.1 10.6 19.0 18.0 24.4 -4.3 -5.4 -5.9 35.4 31.0 21.0 21.3 14.7 8.2 16.9 13.5 12.9 2016 2017 2018 Monthly Statistics - April 2018 | 28
  32. Financial Sector Table 7 .3 Depository Corporations Survey, 2012 - 2018 (Millions of MVR) Net foreign assets Net domestic assets Central bank Broad money Other items (net) Domestic claims ODC Period Net claims on central govt. (2+3) (1) (2) (3) (5+9) (6+7) (4) (5) Narrow money Quasi money Claims on other sectors o/w Claims on pvt. sectors (11+12) (6) (7) (8) (9) (10) (11) (12) 2012 2013 2014 5,258.3 8,813.4 12,519.9 4,241.0 5,308.0 9,110.0 1,017.3 3,505.4 3,410.0 14,743.4 14,863.3 14,677.1 23,893.6 24,963.6 25,817.8 7,649.6 8,642.0 9,145.5 16,244.0 16,321.6 16,672.2 14,505.4 14,637.9 15,050.1 -9,150.2 -10,100.3 -11,140.6 20,001.6 23,676.7 27,197.1 8,428.3 10,415.8 11,232.4 11,573.3 13,260.9 15,964.6 2015 2016 2017 12,297.4 7,868.8 10,291.9 8,227.2 5,247.5 8,603.3 4,070.1 2,621.3 1,688.6 18,194.5 22,567.5 21,715.3 29,993.8 35,958.6 36,535.1 11,380.0 13,394.4 11,630.6 18,613.9 22,564.1 24,904.5 16,817.0 18,583.0 21,294.9 -11,799.3 -13,391.1 -14,819.8 30,491.9 30,436.3 32,007.2 13,337.9 13,468.5 14,471.3 17,154.0 16,967.8 17,535.9 Apr-16 May-16 Jun-16 13,946.9 12,819.9 12,457.3 10,384.7 9,248.8 9,140.5 3,562.2 3,571.1 3,316.8 18,648.0 19,761.6 19,390.0 31,060.3 31,677.5 31,969.8 11,996.4 12,390.4 12,476.6 19,063.9 19,287.0 19,493.2 17,397.3 17,504.6 17,684.4 -12,412.3 -11,915.9 -12,579.8 32,594.9 32,581.5 31,847.2 13,790.0 14,062.2 13,902.5 18,804.9 18,519.3 17,944.7 Jul-16 Aug-16 Sep-16 12,645.8 11,966.7 11,693.7 9,086.2 7,793.8 7,981.2 3,559.5 4,172.9 3,712.6 19,430.8 19,786.9 20,059.8 32,080.9 32,887.6 33,211.1 12,409.3 12,887.6 13,175.9 19,671.6 20,000.0 20,035.2 17,849.3 18,224.6 18,298.4 -12,650.2 -13,100.7 -13,151.3 32,076.5 31,753.5 31,753.5 13,723.1 13,573.0 13,907.1 18,353.4 18,180.6 17,846.5 Oct-16 Nov-16 Dec-16 11,598.6 7,697.5 7,868.8 7,986.4 4,843.1 5,247.5 3,612.1 2,854.4 2,621.3 19,862.9 21,943.3 22,567.5 33,151.4 35,511.1 35,958.6 12,999.5 13,244.3 13,394.4 20,151.9 22,266.8 22,564.1 18,269.7 18,279.5 18,583.0 -13,288.5 -13,567.7 -13,391.1 31,461.4 29,640.9 30,436.3 13,331.3 13,256.0 13,468.5 18,130.2 16,384.8 16,967.8 Jan-17 Feb-17 Mar-17 8,696.4 9,268.6 8,425.0 5,444.1 6,032.3 5,785.4 3,252.4 3,236.3 2,639.6 21,700.0 21,910.7 22,504.9 35,587.3 35,903.9 36,174.4 12,973.6 12,923.0 13,042.6 22,613.7 22,981.0 23,131.7 18,653.3 19,035.0 19,150.1 -13,887.3 -13,993.2 -13,669.5 30,396.4 31,179.4 30,929.9 13,078.2 13,167.5 13,245.1 17,318.3 18,011.8 17,684.8 Apr-17 May-17 Jun-17 9,102.6 7,941.9 11,071.6 5,619.7 6,362.9 8,792.3 3,482.9 1,578.9 2,279.3 22,575.3 23,284.6 20,767.1 36,795.9 37,706.1 35,040.6 13,698.5 14,426.9 11,465.5 23,097.5 23,279.2 23,575.0 19,189.7 19,478.7 19,810.0 -14,220.6 -14,421.5 -14,273.5 31,677.9 31,226.4 31,838.7 13,366.1 13,792.4 14,350.9 18,311.8 17,434.0 17,487.8 Jul-17 Aug-17 Sep-17 9,711.3 9,102.5 8,676.6 8,443.3 8,163.6 7,668.8 1,268.0 938.9 1,007.7 21,247.8 21,186.7 21,172.3 35,555.4 35,193.3 35,516.6 11,630.5 10,982.9 11,211.6 23,925.0 24,210.4 24,305.0 20,107.7 20,474.8 20,653.1 -14,307.6 -14,006.6 -14,344.3 30,959.1 30,289.1 29,848.9 14,122.2 13,821.3 13,732.2 16,836.9 16,467.8 16,116.7 Oct-17 Nov-17 Dec-17 8,860.4 8,749.9 10,291.9 7,245.2 7,814.8 8,603.3 1,615.2 935.1 1,688.6 21,661.0 22,476.5 21,715.3 35,981.6 37,160.4 36,535.1 11,365.1 12,245.3 11,630.6 24,616.5 24,915.1 24,904.5 20,900.9 21,298.3 21,294.9 -14,320.6 -14,684.0 -14,819.8 30,521.4 31,226.4 32,007.2 13,992.3 14,410.6 14,471.3 16,529.1 16,815.8 17,535.9 Jan-18 Feb-18 Mar-18 11,395.2 12,403.9 12,510.9 9,265.4 10,502.9 10,727.8 2,129.8 1,900.9 1,783.1 21,616.4 20,820.8 20,964.2 36,901.7 36,044.6 36,059.5 11,374.2 10,830.2 10,920.6 25,527.5 25,214.3 25,138.9 21,808.6 21,615.6 21,629.6 -15,285.3 -15,223.7 -15,095.2 33,011.6 33,224.7 33,475.1 14,188.0 14,202.6 14,307.0 18,823.7 19,022.1 19,168.1 2016 2017 2018 Source: Maldives Monetary Authority 29 | Monthly Statistics - April 2018
  33. Financial Sector y /y % change Period Net foreign assets Central bank ODC (13) (14) (15) 2012 2013 2014 83.0 67.6 42.1 -10.3 25.2 71.6 2015 2016 2017 -1.8 -36.0 30.8 Apr-16 May-16 Jun-16 2016 2017 2018 Domestic claims Net claims on central govt. Claims on other sectors Broad money Narrow money Quasi money Memorandum items Dollarization ratio (16) (17) (18) (19) (20) (21) (22) 154.9 244.6 -2.7 -3.2 4.5 3.4 12.0 13.0 5.8 -9.0 0.5 2.1 4.9 18.4 14.9 2.9 23.6 7.8 6.5 14.6 20.4 49.2 50.2 53.7 -9.7 -36.2 64.0 19.4 -35.6 -35.6 16.2 19.9 1.6 24.4 17.7 -13.2 11.6 21.2 10.4 12.1 -0.2 5.2 18.7 1.0 7.4 7.5 -1.1 3.3 50.6 48.5 48.7 -6.7 -16.1 -15.8 5.3 -12.0 -13.8 -30.0 -25.0 -20.8 18.6 22.7 22.8 22.6 31.3 27.4 16.3 17.8 20.0 9.5 10.6 8.7 9.8 11.1 8.8 9.2 10.3 8.7 51.8 50.8 50.0 Jul-16 Aug-16 Sep-16 -14.0 -12.9 -11.6 -12.6 -21.2 -14.6 -17.4 8.4 -4.4 21.1 20.0 18.1 22.7 25.7 28.1 20.1 16.7 12.4 7.4 7.2 5.9 6.5 6.5 8.8 8.1 7.7 3.8 51.1 51.1 50.0 Oct-16 Nov-16 Dec-16 -3.5 -37.1 -36.0 -4.4 -42.0 -36.2 -1.4 -26.9 -35.6 14.1 20.8 19.9 19.5 20.5 17.7 10.9 21.0 21.2 4.8 -2.7 -0.2 1.1 0.9 1.0 7.8 -5.4 -1.1 50.5 47.7 48.5 Jan-17 Feb-17 Mar-17 -35.8 -36.9 -40.7 -37.5 -41.7 -40.7 -32.7 -25.6 -40.7 19.5 19.5 18.0 15.4 14.5 11.3 22.0 22.5 22.1 -3.4 -4.8 -5.2 -1.9 -5.0 -4.6 -4.5 -4.7 -5.6 49.6 50.6 49.5 Apr-17 May-17 Jun-17 -34.7 -38.1 -11.1 -45.9 -31.2 -3.8 -2.2 -55.8 -31.3 18.5 19.0 9.6 14.2 16.4 -8.1 21.2 20.7 20.9 -2.8 -4.2 -0.0 -3.1 -1.9 3.2 -2.6 -5.9 -2.5 50.5 48.2 48.7 Jul-17 Aug-17 Sep-17 -23.2 -23.9 -25.8 -7.1 4.7 -3.9 -64.4 -77.5 -72.9 10.8 7.0 6.9 -6.3 -14.8 -14.9 21.6 21.1 21.3 -3.5 -4.6 -6.0 2.9 1.8 -1.3 -8.3 -9.4 -9.7 48.3 48.3 48.1 Oct-17 Nov-17 Dec-17 -23.6 13.7 30.8 -9.3 61.4 64.0 -55.3 -67.2 -35.6 8.5 4.6 1.6 -12.6 -7.5 -13.2 22.2 11.9 10.4 -3.0 5.3 5.2 5.0 8.7 7.4 -8.8 2.6 3.3 48.4 48.0 48.7 Jan-18 Feb-18 Mar-18 31.0 33.8 48.5 70.2 74.1 85.4 -34.5 -41.3 -32.4 3.7 0.4 -0.3 -12.3 -16.2 -16.3 12.9 9.7 8.7 8.6 6.6 8.2 8.5 7.9 8.0 8.7 5.6 8.4 51.0 50.9 50.6 Monthly Statistics - April 2018 | 30
  34. Financial Sector Table 7 .4 Other Financial Corporations Survey, 2012 - 2018 (Millions of MVR) Net foreign assets Net domestic assets Claims on nonresidents Liabilities to nonresidents Claims on DC Period (2+3) (1) (2) (3) Other items (net) Domestic claims (5+13) (6+7+10) (4) (5) Net claims on central govt. Claims on central govt. Claims on other sectors Liabilities to central govt. (8+9) (6) (7) Insurance y/y % change technical Net foreign Net claims reserves assets on central govt. Claims on Claims on public pvt. sector nonfinancial corp. (11+12) (8) (9) (10) (11) (12) (13) (14) (15) (16) 2012 2013 2014 -172.6 -126.1 -105.9 116.4 186.3 237.4 -289.0 -312.4 -343.3 4,556.8 5,446.8 6,928.1 5,319.8 6,363.8 8,070.8 412.6 510.0 466.0 3,779.8 4,626.0 6,081.3 3,933.4 4,779.5 6,195.6 -153.6 -153.6 -114.3 1,127.5 1,227.9 1,523.5 59.4 60.0 107.9 1,068.1 1,167.9 1,415.6 -763.0 -917.0 -1,142.8 4,384.2 5,320.7 6,822.2 29.7 26.9 16.0 30.2 22.4 31.5 2015 2016 2017 -100.4 -72.8 -17.8 280.4 241.7 282.3 -380.9 -314.5 -300.2 8,268.5 9,622.6 11,066.4 9,573.0 11,196.4 13,047.0 583.8 482.1 603.0 7,260.9 8,644.9 9,947.3 7,432.9 8,820.8 9,977.7 -172.0 -176.0 -30.3 1,728.3 2,069.4 2,496.7 78.9 84.7 98.4 1,649.4 1,984.7 2,398.2 -1,304.5 -1,573.8 -1,980.6 8,168.1 9,549.8 11,048.6 5.2 27.5 75.5 19.4 19.1 15.1 Apr-16 May-16 Jun-16 -80.7 -73.7 -107.4 274.0 288.2 246.7 -354.7 -361.8 -354.1 8,773.5 8,897.2 9,032.2 10,112.5 10,280.4 10,403.7 563.1 582.9 598.5 7,704.5 7,831.2 7,905.6 7,853.0 7,989.7 8,061.1 -148.5 -158.5 -155.5 1,845.0 1,866.3 1,899.6 80.3 80.1 90.4 1,764.6 1,786.2 1,809.2 -1,339.1 -1,383.2 -1,371.5 8,692.8 8,823.5 8,924.8 2.6 -70.1 -42.9 19.9 19.6 19.0 Jul-16 Aug-16 Sep-16 -86.1 -29.1 -35.6 240.4 278.6 283.2 -326.5 -307.7 -318.8 9,107.8 9,216.3 9,291.3 10,494.1 10,606.6 10,721.9 573.5 536.2 511.6 8,020.3 8,130.6 8,263.5 8,172.1 8,295.7 8,433.7 -151.8 -165.0 -170.2 1,900.3 1,939.8 1,946.8 80.2 85.6 79.5 1,820.2 1,854.2 1,867.3 -1,386.3 -1,390.4 -1,430.6 9,021.7 9,187.1 9,255.7 -25.3 60.2 59.1 18.5 19.0 18.6 Oct-16 Nov-16 Dec-16 -60.2 -56.0 -72.8 285.4 254.5 241.7 -345.6 -310.5 -314.5 9,405.1 9,495.0 9,622.6 10,876.7 11,002.2 11,196.4 499.9 475.2 482.1 8,423.7 8,530.6 8,644.9 8,592.0 8,707.8 8,820.8 -168.3 -177.1 -176.0 1,953.1 1,996.4 2,069.4 82.6 86.7 84.7 1,870.5 1,909.7 1,984.7 -1,471.6 -1,507.2 -1,573.8 9,344.9 9,439.0 9,549.8 -23.6 52.5 27.5 20.1 18.4 19.1 Jan-17 Feb-17 Mar-17 -24.3 -120.1 -136.3 349.9 269.9 315.0 -374.2 -390.0 -451.3 9,733.9 9,938.8 10,052.4 11,379.2 11,493.3 11,685.3 519.9 571.3 657.7 8,761.7 8,804.9 8,893.6 8,940.3 9,012.8 9,119.8 -178.6 -207.9 -226.2 2,097.6 2,117.2 2,134.0 86.7 94.4 84.4 2,010.9 2,022.7 2,049.6 -1,645.4 -1,554.5 -1,632.9 9,709.6 9,818.8 9,916.1 71.5 -46.1 -52.0 18.9 17.5 17.3 Apr-17 May-17 Jun-17 -131.6 -114.4 -126.0 253.4 243.7 230.5 -385.0 -358.1 -356.5 10,173.1 10,290.7 10,412.4 11,779.9 11,668.7 11,890.8 694.2 591.9 625.8 8,947.0 8,890.0 9,094.3 9,174.9 9,113.1 9,159.3 -227.8 -223.1 -65.0 2,138.7 2,186.8 2,170.7 84.1 87.4 88.6 2,054.7 2,099.4 2,082.1 -1,606.8 -1,378.0 -1,478.4 10,041.6 10,176.3 10,286.4 -63.1 -55.3 -17.3 16.1 13.5 15.0 Jul-17 Aug-17 Sep-17 -49.4 -60.3 -56.6 264.8 259.9 258.2 -314.2 -320.2 -314.8 10,470.8 10,618.5 10,723.0 11,967.0 12,386.1 12,471.9 560.7 570.5 536.5 9,281.3 9,425.8 9,542.6 9,330.1 9,475.4 9,574.9 -48.8 -49.7 -32.3 2,125.1 2,389.9 2,392.8 88.2 100.0 104.7 2,036.9 2,289.9 2,288.1 -1,496.2 -1,767.7 -1,748.9 10,421.4 10,558.1 10,666.4 42.6 -107.2 -59.0 15.7 15.9 15.5 Oct-17 Nov-17 Dec-17 -46.7 -14.0 -17.8 256.9 295.5 282.3 -303.7 -309.5 -300.2 10,830.3 10,958.6 11,066.4 12,698.8 12,835.6 13,047.0 602.0 587.1 603.0 9,688.8 9,812.9 9,947.3 9,720.7 9,842.0 9,977.7 -31.9 -29.1 -30.3 2,408.0 2,435.7 2,496.7 106.8 107.9 98.4 2,301.2 2,327.8 2,398.2 -1,868.4 -1,877.0 -1,980.6 10,783.6 10,944.6 11,048.6 22.4 75.0 75.5 15.0 15.0 15.1 Jan-18 Feb-18 Mar-18 -36.9 -27.0 -61.0 347.6 346.5 315.1 -384.5 -373.4 -376.1 11,299.5 11,408.3 11,539.8 13,229.6 13,362.8 13,510.3 636.7 650.0 690.5 10,072.2 10,190.7 10,261.7 10,115.2 10,223.8 10,301.6 -43.0 -33.1 -39.9 2,520.7 2,522.1 2,558.2 110.6 99.6 96.3 2,410.1 2,422.5 2,461.9 -1,930.1 -1,954.6 -1,970.5 11,262.6 11,381.3 11,478.8 -52.0 77.5 55.2 15.0 15.7 15.4 2016 2017 2018 Source: Maldives Monetary Authority 31 | Monthly Statistics - April 2018
  35. Financial Sector Table 7 .5 Financial Corporations Survey, 2012 - 2018 (Millions of MVR) Net foreign assets Central bank Net domestic assets ODC OFC Domestic claims Net claims Claims on other sectors on central o/w govt. Claims on pvt. sectors Period (2 to 4) (1) (2) (3) (4) (6+10) (7+8) (5) (6) (7) (8) (9) Other items (net) (10) Currency outside financial corp. (11) Deposit (12) Insurance y/y % change technical Net foreign Net claims reserves assets on central govt. (13) Deposit (14) (15) (16) 2012 2013 2014 5,085.7 8,687.3 12,414.0 4,241.0 5,308.0 9,110.0 1,017.3 3,505.4 3,410.0 -172.6 -126.1 -105.9 19,414.7 20,444.1 21,718.8 28,639.8 30,708.2 33,134.3 11,429.3 13,268.0 15,226.8 17,210.5 17,440.2 17,907.4 15,573.6 15,805.8 16,465.7 -9,225.1 -10,264.1 -11,415.5 2,115.8 2,800.9 2,681.5 18,004.2 21,015.9 24,634.5 4,380.4 5,314.7 6,816.7 93.5 70.8 42.9 17.4 16.1 14.8 3.2 16.7 17.2 2015 2016 2017 12,197.0 7,796.0 10,274.0 8,227.2 5,247.5 8,603.3 4,070.1 2,621.3 1,688.6 -100.4 -72.8 -17.8 26,344.3 32,337.3 32,772.7 38,679.1 46,243.1 48,406.8 18,640.9 22,039.3 21,577.9 20,038.2 24,203.8 26,828.8 18,466.4 20,567.7 23,693.1 -12,334.8 -13,905.8 -15,634.1 2,755.1 2,694.1 2,912.3 27,622.8 27,894.3 29,092.6 8,163.3 9,544.9 11,041.7 -1.7 -36.1 31.8 22.4 18.2 -2.1 12.1 1.0 4.3 Apr-16 May-16 Jun-16 13,866.2 12,746.2 12,349.8 10,384.7 9,248.8 9,140.5 3,562.2 3,571.1 3,316.8 -80.7 -73.7 -107.4 27,465.2 28,671.2 28,418.6 40,324.3 41,052.0 41,429.7 19,700.9 20,221.6 20,382.2 20,623.4 20,830.4 21,047.5 19,161.9 19,290.8 19,493.6 -12,859.1 -12,380.8 -13,011.1 2,693.2 2,720.6 2,820.3 29,949.6 29,879.2 29,029.5 8,688.7 8,817.5 8,918.6 -6.8 -16.3 -16.1 21.5 26.5 24.0 10.7 12.3 10.1 Jul-16 Aug-16 Sep-16 12,559.6 11,937.6 11,658.1 9,086.2 7,793.8 7,981.2 3,559.5 4,172.9 3,712.6 -86.1 -29.1 -35.6 28,559.3 29,078.1 29,120.7 41,627.7 42,614.4 43,057.0 20,429.6 21,018.2 21,439.4 21,198.1 21,596.2 21,617.6 19,669.4 20,078.9 20,165.6 -13,068.4 -13,536.3 -13,936.3 2,808.0 2,619.1 2,625.5 29,295.4 29,215.3 28,903.2 9,015.5 9,181.3 9,250.1 -14.2 -12.7 -11.3 21.0 23.0 24.3 8.5 9.1 6.4 Oct-16 Nov-16 Dec-16 11,538.4 7,641.5 7,796.0 7,986.4 4,843.1 5,247.5 3,612.1 2,854.4 2,621.3 -60.2 -56.0 -72.8 29,390.3 31,383.6 32,337.3 43,111.6 45,655.5 46,243.1 21,423.2 21,774.9 22,039.3 21,688.4 23,880.6 24,203.8 20,140.2 20,189.3 20,567.7 -13,721.3 -14,272.0 -13,905.8 2,712.6 2,695.7 2,694.1 28,876.4 26,895.2 27,894.3 9,339.7 9,434.1 9,544.9 -3.6 -37.0 -36.1 19.7 19.7 18.2 6.7 -2.6 1.0 Jan-17 Feb-17 Mar-17 8,672.1 9,148.5 8,288.7 5,444.1 6,032.3 5,785.4 3,252.4 3,236.3 2,639.6 -24.3 -120.1 -136.3 31,279.9 31,638.5 32,316.9 46,001.5 46,369.7 46,684.4 21,735.3 21,727.9 21,936.2 24,266.2 24,641.9 24,748.2 20,664.2 21,057.7 21,199.7 -14,721.7 -14,731.2 -14,367.5 2,545.7 2,611.5 2,702.8 27,699.5 28,365.3 27,994.5 9,706.8 9,810.3 9,908.4 -35.6 -37.4 -41.3 16.8 15.7 13.6 -3.3 -5.4 -6.4 Apr-17 May-17 Jun-17 8,971.0 7,827.5 10,945.5 5,619.7 6,362.9 8,792.3 3,482.9 1,578.9 2,279.3 -131.6 -114.4 -126.0 32,478.3 33,435.0 31,023.1 47,365.4 48,270.2 45,761.4 22,645.5 23,316.9 20,559.9 24,719.9 24,953.2 25,201.5 21,244.3 21,578.1 21,892.1 -14,887.1 -14,835.2 -14,738.2 2,744.3 2,839.8 2,842.6 28,670.4 28,255.8 28,848.4 10,034.6 10,166.9 10,277.7 -35.3 -38.6 -11.4 14.9 15.3 0.9 -4.3 -5.4 -0.6 Jul-17 Aug-17 Sep-17 9,661.9 9,042.1 8,619.9 8,443.3 8,163.6 7,668.8 1,268.0 938.9 1,007.7 -49.4 -60.3 -56.6 31,573.0 31,735.3 31,841.7 46,393.8 46,461.9 46,937.8 20,911.7 20,408.7 20,754.2 25,482.0 26,053.2 26,183.6 22,144.6 22,764.7 22,941.3 -14,820.7 -14,726.6 -15,096.1 2,700.1 2,827.4 2,744.0 28,120.7 27,398.5 27,057.3 10,414.1 10,551.6 10,660.3 -23.1 -24.3 -26.1 2.4 -2.9 -3.2 -4.0 -6.2 -6.4 Oct-17 Nov-17 Dec-17 8,813.7 8,735.9 10,274.0 7,245.2 7,814.8 8,603.3 1,615.2 935.1 1,688.6 -46.7 -14.0 -17.8 32,337.6 33,352.2 32,772.7 47,512.4 48,853.8 48,406.8 21,053.9 22,058.2 21,577.9 26,458.5 26,795.6 26,828.8 23,202.1 23,626.1 23,693.1 -15,174.8 -15,501.6 -15,634.1 2,785.0 2,830.2 2,912.3 27,588.1 28,319.5 29,092.6 10,778.1 10,938.5 11,041.7 -23.6 14.3 31.8 -1.7 1.3 -2.1 -4.5 5.3 4.3 Jan-18 Feb-18 Mar-18 11,358.3 12,376.9 12,449.9 9,265.4 10,502.9 10,727.8 2,129.8 1,900.9 1,783.1 -36.9 -27.0 -61.0 32,846.6 32,211.7 32,438.2 48,891.8 48,159.8 48,253.1 21,446.4 21,020.9 21,182.2 27,445.4 27,138.9 27,070.9 24,218.6 24,038.2 24,091.4 -16,045.2 -15,948.1 -15,814.9 2,733.5 2,775.1 2,848.6 30,215.0 30,436.9 30,563.2 11,256.4 11,376.7 11,476.3 31.0 35.3 50.2 -1.3 -3.3 -3.4 9.1 7.3 9.2 2016 2017 2018 Source: Maldives Monetary Authority Monthly Statistics - April 2018 | 32
  36. Financial Sector Table 7 .6 Assets and Liabilities of Maldives Monetary Authority, 2012 - 2018 (Millions of MVR) Assets Liabilities Foreign assets Period Claims on central govt. Claims on other sectors (3) (4) Other assets Nonfinancial assets (2 to 6) Currency in circulation Claims to central govt. Claims to ODC Claims to other sectors (9) (10) (11) Other liabilities to ODC Foreign liabilities Other liabilities (13) (14) (15) Shares & other equity (8 to 15) (1) (2) (5) (6) (7) (8) (12) 2012 2013 2014 10,199.9 12,450.6 16,406.9 4,689.6 5,685.1 9,475.7 5,005.9 6,260.1 6,440.5 6.9 7.5 6.5 189.4 191.1 178.2 308.1 306.7 306.0 10,199.9 12,450.6 16,406.9 2,475.5 3,252.4 3,099.4 320.4 298.5 1,116.2 5,705.7 6,375.1 9,401.8 10.6 11.6 11.1 197.4 997.9 1,701.4 448.6 377.1 365.8 413.1 529.4 533.2 628.6 608.6 177.9 2015 2016 2017 15,796.2 16,484.9 17,765.8 8,700.9 7,181.3 9,041.0 6,373.0 6,372.4 6,314.4 92.0 2,165.3 1,602.6 169.4 337.5 358.1 461.0 428.4 449.7 15,796.2 16,484.9 17,765.8 3,220.7 3,243.5 3,496.3 917.7 1,093.0 1,913.9 7,052.3 5,734.2 7,186.9 10.5 13.3 143.0 3,364.7 3,450.9 3,427.2 473.6 1,933.9 437.7 437.3 734.6 723.5 319.4 281.3 437.4 Apr-16 May-16 Jun-16 18,208.8 16,843.0 16,843.5 10,836.9 9,630.3 9,605.1 6,349.8 6,344.3 6,338.4 68.3 57.9 53.8 509.1 367.8 403.7 444.6 442.6 442.4 18,208.8 16,843.0 16,843.5 3,320.9 3,306.9 3,457.4 999.1 1,090.5 1,121.8 8,612.0 7,856.1 7,811.2 11.4 11.4 11.4 3,928.7 3,310.4 3,107.4 452.2 381.5 464.7 598.6 594.1 586.7 285.9 292.1 283.1 Jul-16 Aug-16 Sep-16 16,707.7 15,391.6 15,620.2 9,442.8 8,218.2 8,329.9 6,332.9 6,327.4 6,321.4 45.8 37.4 32.5 445.4 367.1 495.6 440.9 441.6 440.9 16,707.7 15,391.6 15,620.2 3,475.7 3,198.0 3,175.2 1,125.1 884.9 784.9 7,584.6 6,542.9 6,770.5 11.4 13.4 13.4 3,277.2 3,262.2 3,445.3 356.5 424.4 348.7 595.0 771.2 792.8 282.2 294.6 289.3 Oct-16 Nov-16 Dec-16 15,626.4 14,666.1 16,484.9 8,345.4 5,194.9 7,181.3 6,315.8 6,309.9 6,372.4 26.0 2,200.3 2,165.3 498.1 500.6 337.5 441.0 460.4 428.4 15,626.4 14,666.1 16,484.9 3,351.9 3,254.1 3,243.5 960.0 1,258.0 1,093.0 6,943.2 5,399.0 5,734.2 13.3 13.3 13.3 2,917.1 3,285.1 3,450.9 358.9 351.9 1,933.9 776.4 773.5 734.6 305.6 331.2 281.3 Jan-17 Feb-17 Mar-17 16,721.8 17,186.1 16,859.8 7,331.7 7,958.0 7,703.0 6,366.3 6,359.1 6,353.3 2,121.5 2,058.1 1,998.8 470.8 378.1 381.6 431.6 432.8 423.0 16,721.8 17,186.1 16,859.8 3,138.3 3,231.7 3,301.8 1,251.8 1,004.4 871.5 5,505.9 6,638.0 6,025.9 13.3 13.3 13.3 3,877.3 3,288.7 3,669.3 1,887.6 1,925.8 1,917.7 730.1 757.5 720.5 317.4 326.6 339.7 Apr-17 May-17 Jun-17 16,794.8 17,274.4 18,249.7 7,609.5 8,268.8 9,236.5 6,347.2 6,341.4 6,335.2 1,939.4 1,879.4 1,819.8 472.1 360.2 434.7 426.5 424.6 423.6 16,794.8 17,274.4 18,249.7 3,361.4 3,392.1 3,492.3 850.0 1,031.2 3,917.3 5,964.4 7,482.6 6,729.6 13.3 102.5 142.5 3,544.5 2,275.2 2,491.4 1,989.8 1,905.8 444.2 718.9 721.7 722.2 352.4 363.3 310.3 Jul-17 Aug-17 Sep-17 17,797.8 17,580.0 16,792.4 8,810.4 8,652.8 7,994.3 6,335.7 6,336.0 6,331.8 1,765.5 1,702.1 1,643.6 442.3 445.6 385.9 443.9 443.5 436.8 17,797.8 17,580.0 16,792.4 3,409.8 3,422.9 3,354.8 3,198.2 2,746.6 1,998.1 6,867.9 6,018.6 6,517.1 142.5 142.6 143.0 2,734.2 3,676.4 3,362.2 367.2 489.2 325.5 731.7 723.0 719.5 346.4 360.8 372.2 Oct-17 Nov-17 Dec-17 16,352.9 16,975.6 17,765.8 7,632.4 8,169.6 9,041.0 6,326.0 6,320.0 6,314.4 1,587.8 1,649.0 1,602.6 371.2 397.6 358.1 435.5 439.4 449.7 16,352.9 16,975.6 17,765.8 3,402.8 3,491.1 3,496.3 1,754.4 1,179.7 1,913.9 6,085.6 7,243.7 7,186.9 78.4 78.4 143.0 3,540.7 3,489.7 3,427.2 387.1 354.8 437.7 718.6 738.9 723.5 385.4 399.3 437.4 Jan-18 Feb-18 Mar-18 18,346.0 19,563.4 19,961.7 9,647.1 10,949.0 11,091.2 6,308.1 6,301.7 6,296.1 1,543.7 1,484.6 1,674.4 401.3 383.3 454.5 445.7 444.8 445.6 18,346.0 19,563.4 19,961.7 3,338.2 3,407.4 3,452.5 2,452.2 2,629.7 2,486.6 7,224.4 7,968.7 8,578.0 142.9 142.9 143.0 3,597.1 3,730.7 3,617.0 381.7 446.1 363.4 750.3 766.0 841.1 459.2 471.9 480.2 2016 2017 2018 Source: Maldives Monetary Authority Note: Open market operations temporarily suspended from May 2014 onwards. 33 | Monthly Statistics - April 2018
  37. Financial Sector y /y % change Assets Memorandum items Liabilities Period Foreign assets Claims on central govt. Currency in circulation Claims to central govt. Foreign assets Net foreign Exchange of MMA assets of MMA rate (millions of (millions of USD) USD) Monetary operations (avg. investment) Overnight deposit facility (16) (17) (18) (19) (20) (21) (22) 2012 2013 2014 -9.3 21.2 66.7 27.7 25.1 2.9 12.7 31.4 -4.7 -18.4 -6.8 273.9 305.1 368.9 615.3 275.9 344.5 591.6 15.37 15.41 15.40 271.3 345.7 1,131.6 2015 2016 2017 -8.2 -17.5 25.9 -1.0 -0.0 -0.9 3.9 0.7 7.8 -17.8 19.1 75.1 564.6 467.8 586.7 533.9 341.9 558.3 15.41 15.35 15.41 2,496.4 3,229.4 3,095.1 Apr-16 May-16 Jun-16 6.0 -11.0 -12.5 -1.1 -1.1 -1.1 0.4 -1.4 1.9 -6.3 -24.9 0.2 707.8 624.9 624.5 678.3 600.2 594.3 15.31 15.41 15.38 3,678.6 3,399.5 3,069.4 Jul-16 Aug-16 Sep-16 -11.4 -19.8 -13.8 -1.1 -1.1 -1.1 -0.0 -3.1 -5.2 -30.9 -45.3 -59.5 612.8 534.3 542.0 589.6 506.7 519.3 15.41 15.38 15.37 3,024.0 2,911.3 2,872.8 Oct-16 Nov-16 Dec-16 -4.3 -40.3 -17.5 -1.1 -1.1 -0.0 1.5 -1.0 0.7 -47.7 -0.9 19.1 543.7 337.1 467.8 520.3 314.3 341.9 15.35 15.41 15.35 2,800.5 2,587.9 3,502.8 Jan-17 Feb-17 Mar-17 -19.4 -26.2 -24.2 -0.0 -0.0 -0.0 -10.9 -1.7 0.2 3.7 -15.1 -12.0 475.5 516.4 500.5 353.1 391.5 375.9 15.42 15.41 15.39 3,470.9 3,632.0 3,408.9 Apr-17 May-17 Jun-17 -29.8 -14.1 -3.8 -0.0 -0.0 -0.1 1.2 2.6 1.0 -14.9 -5.4 249.2 494.4 536.9 600.6 365.2 413.2 571.7 15.39 15.40 15.38 3,382.1 2,578.9 2,011.7 Jul-17 Aug-17 Sep-17 -6.7 5.3 -4.0 0.0 0.1 0.2 -1.9 7.0 5.7 184.3 210.4 154.6 572.1 561.1 518.8 548.3 529.4 497.7 15.40 15.42 15.41 2,467.9 3,031.1 3,105.2 Oct-17 Nov-17 Dec-17 -8.5 57.3 25.9 0.2 0.2 -0.9 1.5 7.3 7.8 82.7 -6.2 75.1 495.0 530.5 586.7 469.9 507.5 558.3 15.42 15.40 15.41 3,335.5 3,361.1 3,391.6 Jan-18 Feb-18 Mar-18 31.6 37.6 44.0 -0.9 -0.9 -0.9 6.4 5.4 4.6 95.9 161.8 185.3 626.4 711.0 719.7 601.7 682.0 696.2 15.40 15.40 15.41 3,414.0 3,020.9 3,457.6 2016 2017 2018 (23) Monthly Statistics - April 2018 | 34
  38. Financial Sector Table 7 .7 Assets and Liabilities of Other Depository Corporations, 2012 - 2018 (Millions of MVR) Assets Liabilities Period Foreign assets Cash (2) (3) Deposits with central bank Securities other than shares Loans & advances Shares & other equity Other assets (6) (7) (8) Nonfinancial assets (2 to 9) (1) Memorandum items Foreign liabilities Deposits (11) (12) Central govt. liabilities Other liabilities Shares & other equity (13) (14) (15) (11 to 15) (4) (5) (9) (10) Transferable deposits Other deposits Local currency Foreign currency (17) (18) (17+18) (16) Local currency Foreign currency (20+21) (19) (20) (21) 2012 2013 2014 30,947.4 34,985.0 40,354.8 2,684.8 4,727.8 4,600.5 358.7 450.5 416.7 5,892.6 6,457.8 11,079.8 4,294.6 3,937.2 5,788.2 16,663.7 17,741.6 16,778.4 14.3 12.4 13.4 534.3 566.0 570.7 504.3 1,091.5 1,107.1 30,947.4 34,985.0 40,354.8 1,667.6 1,222.4 1,190.6 17,884.2 20,873.3 24,513.3 1,771.5 1,794.5 2,093.0 3,890.6 3,924.6 3,837.1 5,733.6 7,170.2 8,720.9 13,677.8 16,684.2 19,435.9 6,310.9 7,612.4 8,548.7 7,367.0 9,071.8 10,887.2 4,206.3 4,189.1 5,077.4 1,741.0 1,384.1 1,370.8 2,465.4 2,804.9 3,706.6 2015 2016 2017 44,142.4 46,379.4 48,871.9 5,112.8 4,519.4 3,906.5 464.6 548.5 582.7 10,345.5 9,133.1 10,508.3 8,324.1 10,612.6 9,092.6 18,041.7 19,922.9 23,316.5 14.6 14.5 70.7 1,104.8 839.2 498.9 734.3 789.1 895.6 44,142.4 46,379.4 48,871.9 1,042.6 1,898.1 2,218.0 27,734.7 27,741.3 29,093.5 1,933.4 1,994.0 1,773.0 4,017.1 3,636.8 3,888.2 9,414.5 11,109.2 11,899.2 22,870.7 21,920.2 23,521.5 10,580.7 10,773.5 11,557.7 12,290.0 11,146.8 11,963.8 4,864.0 5,821.0 5,572.0 1,710.2 2,205.8 1,935.6 3,153.8 3,615.2 3,636.4 Apr-16 May-16 Jun-16 47,515.3 47,380.4 46,849.6 4,798.7 5,268.9 5,005.8 627.2 585.6 636.2 12,404.7 11,042.7 10,860.0 9,250.4 9,473.9 9,568.5 18,493.7 18,726.9 18,929.5 14.6 14.6 14.6 1,162.8 1,501.3 1,064.1 763.2 766.6 770.8 47,515.3 47,380.4 46,849.6 1,236.6 1,697.8 1,689.0 29,943.6 29,870.9 29,061.2 2,117.1 1,849.2 1,812.7 4,257.5 4,179.6 4,275.4 9,960.5 9,782.8 10,011.3 24,006.6 23,841.5 23,030.8 11,138.8 11,351.7 11,116.5 12,867.9 12,489.8 11,914.3 5,937.0 6,029.4 6,030.4 1,924.0 1,965.0 2,021.4 4,013.0 4,064.4 4,009.0 Jul-16 Aug-16 Sep-16 47,280.8 47,271.0 47,600.9 5,231.7 5,833.5 5,388.4 666.9 578.2 548.2 10,850.5 9,762.5 10,148.4 9,513.9 9,763.1 9,994.2 19,116.0 19,460.1 19,491.9 14.6 14.6 14.6 1,114.0 1,078.1 1,232.8 773.3 781.0 782.3 47,280.8 47,271.0 47,600.9 1,672.2 1,660.6 1,675.8 29,342.1 29,147.2 29,177.4 1,816.5 1,829.4 1,857.8 4,292.1 4,323.6 4,323.8 10,157.9 10,310.3 10,566.0 23,382.4 23,101.2 23,093.1 10,988.7 10,966.6 11,331.0 12,393.7 12,134.6 11,762.2 5,959.7 6,046.0 6,084.3 1,976.5 1,953.3 1,971.1 3,983.2 4,092.7 4,113.2 Oct-16 Nov-16 Dec-16 47,440.8 45,663.2 46,379.4 5,284.6 4,707.9 4,519.4 638.1 557.4 548.5 9,791.8 8,434.1 9,133.1 10,192.2 10,667.0 10,612.6 19,613.3 19,572.6 19,922.9 14.6 14.6 14.5 1,111.8 883.8 839.2 794.4 825.7 789.1 47,440.8 45,663.2 46,379.4 1,672.5 1,853.5 1,898.1 28,822.4 26,995.6 27,741.3 2,049.8 1,977.5 1,994.0 4,119.1 3,927.8 3,636.8 10,777.1 10,908.8 11,109.2 22,138.5 21,240.4 21,920.2 10,692.3 10,610.8 10,773.5 11,446.2 10,629.6 11,146.8 6,684.0 5,755.2 5,821.0 2,239.6 2,255.8 2,205.8 4,444.4 3,499.4 3,615.2 Jan-17 Feb-17 Mar-17 47,087.1 48,160.2 47,387.3 5,137.8 5,279.6 4,619.8 591.5 619.3 598.3 9,163.7 9,704.5 9,551.2 10,504.1 10,402.0 10,379.5 20,019.7 20,451.5 20,653.0 14.6 14.5 14.5 860.8 883.7 763.4 794.8 805.1 807.7 47,087.1 48,160.2 47,387.3 1,885.5 2,043.3 1,980.2 27,959.1 28,588.9 28,242.7 2,138.4 2,330.0 2,306.4 3,825.2 3,909.4 3,854.8 11,279.0 11,288.6 11,003.3 22,457.6 22,983.2 22,403.0 10,640.8 10,577.1 10,557.9 11,816.8 12,406.1 11,845.1 5,501.5 5,605.7 5,839.7 2,241.0 2,247.1 2,361.4 3,260.5 3,358.6 3,478.3 Apr-17 May-17 Jun-17 48,450.4 47,263.3 47,512.1 5,538.7 3,605.4 3,928.1 616.3 551.1 648.4 9,268.3 9,434.9 9,101.9 10,393.0 10,658.2 10,296.0 21,128.0 21,535.7 22,050.0 14.5 14.5 31.7 669.0 631.7 618.8 822.5 831.8 837.2 48,450.4 47,263.3 47,512.1 2,055.8 2,026.4 1,648.8 29,047.7 28,396.5 29,028.3 2,128.7 1,648.6 1,531.4 4,125.1 3,991.9 4,015.9 11,093.1 11,199.9 11,287.7 23,090.0 22,536.7 23,395.6 10,735.9 10,962.5 11,540.5 12,354.1 11,574.2 11,855.1 5,957.8 5,859.8 5,632.6 2,311.6 2,375.3 1,996.7 3,646.2 3,484.5 3,635.9 Jul-17 Aug-17 Sep-17 47,134.0 46,272.7 46,127.8 3,247.8 3,022.4 3,230.3 707.9 594.0 609.2 9,424.0 9,648.1 9,737.4 9,728.2 8,994.3 8,576.9 22,455.7 22,365.6 22,519.7 31.8 71.0 70.7 684.3 717.7 518.8 854.2 859.6 864.8 47,134.0 46,272.7 46,127.8 1,979.7 2,083.6 2,222.6 28,340.5 27,545.3 27,114.6 1,519.7 1,485.5 1,584.4 4,081.8 3,967.0 3,988.3 11,212.2 11,191.4 11,218.0 22,941.5 22,505.8 21,824.9 11,503.6 11,077.5 10,997.9 11,437.9 11,428.3 10,827.1 5,399.0 5,039.5 5,289.6 1,881.9 1,827.2 1,753.1 3,517.1 3,212.4 3,536.6 Oct-17 Nov-17 Dec-17 46,837.9 48,362.7 48,871.9 3,803.6 3,469.3 3,906.5 615.9 658.8 582.7 9,496.1 10,581.5 10,508.3 8,465.3 8,814.7 9,092.6 22,887.2 23,267.2 23,316.5 70.8 70.9 70.7 627.9 625.8 498.9 871.1 874.5 895.6 46,837.9 48,362.7 48,871.9 2,188.4 2,534.1 2,218.0 27,750.5 28,431.8 29,093.5 1,557.6 1,616.4 1,773.0 3,898.2 4,139.7 3,888.2 11,443.2 11,640.7 11,899.2 22,474.2 23,262.5 23,521.5 11,221.4 11,616.0 11,557.7 11,252.8 11,646.5 11,963.8 5,276.3 5,169.3 5,572.0 1,744.1 1,828.6 1,935.6 3,532.2 3,340.7 3,636.4 Jan-18 Feb-18 Mar-18 51,143.3 50,827.4 50,813.9 4,577.4 4,334.4 3,972.3 602.9 632.0 603.5 11,003.0 11,549.3 12,026.1 9,337.4 9,387.4 9,410.6 24,000.2 23,357.0 23,331.6 70.8 70.9 75.8 639.4 578.5 471.6 912.1 917.8 922.5 51,143.3 50,827.4 50,813.9 2,447.6 2,433.5 2,189.2 30,308.6 30,465.0 30,637.5 1,730.9 1,751.4 1,819.2 4,535.9 3,971.2 4,154.2 12,120.2 12,206.3 12,013.8 24,379.3 24,568.8 24,666.7 11,485.0 11,442.9 11,469.4 12,894.4 13,125.9 13,197.3 5,929.3 5,896.2 5,970.7 1,992.0 2,116.0 2,234.9 3,937.3 3,780.2 3,735.8 2016 2017 2018 Source: Maldives Monetary Authority 35 | Monthly Statistics - April 2018
  39. Financial Sector Table 7 .8 Assets and Liabilities of Other Financial Corporations, 2012 - 2018 (Millions of MVR) Assets Liabilities Foreign assets Period (2 to 10) (1) (2) Cash Deposits with central bank (3) (4) Deposits with ODC (5) Securities Loans & other than advances shares (6) (7) Shares & other equity (8) Other assets Nonfinancial assets (9) (10) Foreign liabilities (12 to 20) (11) Deposits Central Credit Securities govt. from ODC other than liabilities shares Loans (12) (13) (14) (15) (16) (17) Insurance technical reserves (18) Other liabilities Shares & other equity (19) (20) 2012 2013 2014 5,744.3 6,883.4 8,624.3 116.4 186.3 237.4 1.0 1.0 1.2 8.0 8.0 8.0 403.4 499.4 456.8 1,392.5 2,283.4 3,309.1 3,573.3 3,652.6 4,208.8 116.2 116.1 246.2 77.5 75.3 85.3 56.2 61.3 71.6 5,744.3 6,883.4 8,624.3 289.0 312.4 343.3 59.8 58.2 56.2 153.6 153.6 114.3 85.1 168.0 248.3 40.3 47.9 61.3 10.0 10.0 4,384.2 5,320.7 6,822.2 214.2 190.5 195.7 518.1 622.0 773.0 2015 2016 2017 10,209.8 11,835.9 13,747.0 280.4 241.7 282.3 1.1 0.9 1.3 8.0 12.0 12.0 574.6 469.1 567.3 4,444.3 5,689.2 6,792.1 4,522.0 5,005.6 5,291.0 240.5 245.4 550.8 70.1 92.6 130.5 68.8 79.4 119.8 10,209.8 11,835.9 13,747.0 380.9 314.5 300.2 70.8 74.6 70.4 172.0 176.0 30.3 290.8 396.8 549.0 51.2 55.2 151.6 20.0 70.0 96.8 8,168.1 9,549.8 11,048.6 214.1 246.3 423.5 842.0 952.8 1,076.6 Apr-16 May-16 Jun-16 10,750.0 10,927.0 11,002.6 274.0 288.2 246.7 0.6 0.7 0.8 8.0 8.0 8.0 554.0 574.1 589.6 4,819.1 4,941.2 5,004.4 4,678.5 4,714.2 4,755.7 245.9 245.9 245.9 101.1 86.1 81.3 68.9 68.7 70.2 10,750.0 10,927.0 11,002.6 354.7 361.8 354.1 76.2 79.9 75.0 148.5 158.5 155.5 291.3 309.9 307.6 50.7 50.7 55.7 65.0 75.0 70.0 8,692.8 8,823.5 8,924.8 178.9 219.5 184.2 892.0 848.2 875.8 Jul-16 Aug-16 Sep-16 11,081.8 11,242.8 11,383.5 240.4 278.6 283.2 0.8 0.8 1.5 8.0 8.0 10.0 564.5 527.3 499.9 5,109.5 5,218.7 5,339.6 4,767.7 4,821.5 4,839.7 245.9 245.9 245.9 73.5 63.0 79.7 71.5 79.1 84.0 11,081.8 11,242.8 11,383.5 326.5 307.7 318.8 75.1 78.7 78.8 151.8 165.0 170.2 322.5 318.1 354.2 55.7 55.7 50.2 70.0 75.0 75.0 9,021.7 9,187.1 9,255.7 182.6 180.4 191.0 875.8 875.2 889.5 Oct-16 Nov-16 Dec-16 11,545.1 11,661.8 11,835.9 285.4 254.5 241.7 1.1 1.1 0.9 12.0 12.0 12.0 486.7 461.9 469.1 5,486.6 5,587.1 5,689.2 4,862.8 4,921.6 5,005.6 245.5 245.4 245.4 73.4 78.3 92.6 91.5 100.0 79.4 11,545.1 11,661.8 11,835.9 345.6 310.5 314.5 77.0 77.7 74.6 168.3 177.1 176.0 373.9 381.2 396.8 55.2 55.2 55.2 75.0 75.0 70.0 9,344.9 9,439.0 9,549.8 189.5 203.8 246.3 915.6 942.2 952.8 Jan-17 Feb-17 Mar-17 12,147.5 12,221.4 12,496.1 349.9 269.9 315.0 1.1 0.9 0.7 12.0 12.0 12.0 506.4 554.2 644.7 5,793.6 5,861.4 5,961.1 5,049.7 5,077.8 5,086.6 245.1 245.1 245.5 107.8 124.2 151.7 82.0 75.9 78.8 12,147.5 12,221.4 12,496.1 374.2 390.0 451.3 76.7 76.8 78.9 178.6 207.9 226.2 433.5 446.0 525.1 55.2 55.2 44.5 70.0 70.0 70.0 9,709.6 9,818.8 9,916.1 203.1 211.6 227.5 1,046.7 945.1 956.3 Apr-17 May-17 Jun-17 12,530.8 12,639.9 12,756.7 253.4 243.7 230.5 0.7 1.2 1.3 12.0 12.0 12.0 658.0 556.4 590.3 5,985.3 5,909.6 5,939.1 5,123.2 5,153.7 5,154.4 267.7 298.1 298.1 150.7 387.6 450.3 79.8 77.6 80.9 12,530.8 12,639.9 12,756.7 385.0 358.1 356.5 77.9 80.7 67.6 227.8 223.1 65.0 507.3 504.4 520.6 44.5 44.6 46.1 70.0 70.0 97.9 10,041.6 10,176.3 10,286.4 210.5 206.8 329.4 966.2 975.9 987.3 Jul-17 Aug-17 Sep-17 12,820.1 12,977.8 13,060.9 264.8 259.9 258.2 1.7 1.6 1.6 12.0 12.0 12.0 524.0 534.7 500.7 6,111.9 6,240.4 6,321.2 5,107.6 5,135.8 5,151.4 298.1 550.8 550.8 383.0 124.6 146.9 117.1 118.1 118.3 12,820.1 12,977.8 13,060.9 314.2 320.2 314.8 68.3 68.2 69.0 48.8 49.7 32.3 523.4 531.0 494.7 45.4 39.3 39.6 97.7 96.9 97.5 10,421.4 10,558.1 10,666.4 320.6 313.4 331.4 980.4 1,001.0 1,015.3 Oct-17 Nov-17 Dec-17 13,353.4 13,538.4 13,747.0 256.9 295.5 282.3 1.8 2.2 1.3 12.0 12.0 12.0 565.9 550.6 567.3 6,478.2 6,667.0 6,792.1 5,178.3 5,219.4 5,291.0 550.8 550.4 550.8 190.8 122.4 130.5 118.5 118.9 119.8 13,353.4 13,538.4 13,747.0 303.7 309.5 300.2 68.4 70.5 70.4 31.9 29.1 30.3 542.2 539.2 549.0 59.8 149.4 151.6 98.5 96.8 96.8 10,783.6 10,944.6 11,048.6 429.4 354.0 423.5 1,035.9 1,045.3 1,076.6 Jan-18 Feb-18 Mar-18 13,992.6 14,112.6 14,262.7 347.6 346.5 315.1 1.8 0.3 0.4 12.0 12.0 12.0 600.7 615.4 655.7 6,897.1 6,999.9 7,088.9 5,327.2 5,330.9 5,360.0 550.8 554.4 564.3 135.6 126.2 138.1 119.8 127.0 128.2 13,992.6 14,112.6 14,262.7 384.5 373.4 376.1 70.0 69.9 71.3 43.0 33.1 39.9 581.6 578.3 601.7 128.4 128.6 142.5 86.5 87.4 82.4 11,262.6 11,381.3 11,478.8 399.0 392.3 368.5 1,037.0 1,068.3 1,101.6 2016 2017 2018 Source: Maldives Monetary Authority Monthly Statistics - April 2018 | 36
  40. Financial Sector Table 7 .9 Private Sector Loans and Advances by Other Depository Corporations, 2012 - 2018 (Millions of MVR) Period Total loans & advances 1/ Agriculture Fishing Manufacturing Construction 2/ Real estate 2/ Tourism (2 to 11) (1) (2) 2012 2013 2014 14,403.2 14,533.5 14,927.8 15.9 10.3 7.9 551.9 546.6 399.8 324.1 316.5 199.2 1,205.8 1,320.7 1,735.5 605.2 713.0 619.5 8,326.8 7,430.1 6,476.0 2015 2016 2017 16,759.4 18,495.6 21,150.3 4.2 1.9 2.7 450.9 520.0 501.7 170.8 171.9 167.9 2,441.7 3,345.0 3,719.6 669.9 633.0 1,666.9 Apr-16 May-16 Jun-16 17,312.7 17,414.5 17,602.5 3.7 3.4 3.2 498.2 502.3 508.7 211.2 221.5 209.0 2,740.4 2,840.0 2,903.7 Jul-16 Aug-16 Sep-16 17,764.2 18,087.2 18,215.2 3.0 2.9 2.8 498.0 500.3 511.8 197.3 193.7 198.6 Oct-16 Nov-16 Dec-16 18,176.2 18,185.5 18,495.6 2.6 2.0 1.9 521.1 513.3 520.0 Jan-17 Feb-17 Mar-17 18,566.5 18,939.7 19,044.9 1.8 1.6 1.5 Apr-17 May-17 Jun-17 19,086.8 19,365.8 19,692.5 Jul-17 Aug-17 Sep-17 2016 2017 2018 (3) (4) (5) (6) (7) Commerce (8) Transport & Electricity, Other loans communication gas, water & & loans not sanitary adequately services described (9) (10) (11) 2,144.3 2,551.7 2,515.5 480.0 520.0 613.1 0.7 11.4 54.0 748.4 1,113.3 2,307.3 6,628.0 7,257.0 8,128.2 2,964.3 3,178.1 3,182.8 894.3 1,069.8 982.5 22.0 13.9 2.3 2,513.4 2,305.0 2,795.7 702.7 704.2 702.0 7,379.5 7,167.1 7,037.5 2,979.3 3,019.2 3,180.4 946.2 953.9 991.7 19.9 19.7 18.8 1,831.6 1,983.2 2,047.5 2,943.6 3,018.2 3,118.9 727.2 718.0 716.6 7,191.8 7,269.3 7,180.3 3,270.1 3,353.4 3,376.2 992.2 991.9 989.6 17.9 16.9 16.1 1,923.1 2,022.6 2,104.4 195.2 175.8 171.9 3,193.5 3,248.4 3,345.0 655.2 639.8 633.0 7,084.9 7,035.0 7,257.0 3,337.1 3,327.8 3,178.1 991.7 981.5 1,069.8 15.3 14.7 13.9 2,179.8 2,247.3 2,305.0 498.8 488.0 494.2 174.9 174.3 162.3 3,405.0 3,488.6 3,578.3 598.6 788.7 830.5 7,347.8 7,478.5 7,387.9 3,146.7 3,162.2 3,187.8 1,050.0 1,043.7 1,057.2 12.3 14.9 17.6 2,330.7 2,299.2 2,327.5 1.4 1.7 2.1 502.6 507.4 497.1 170.1 162.4 168.9 3,655.5 3,750.0 3,250.7 843.6 711.1 1,368.0 7,300.5 7,444.8 7,549.5 3,135.8 3,297.6 3,321.4 1,051.6 1,054.7 1,045.5 15.6 15.4 2.0 2,410.2 2,420.5 2,487.1 19,997.8 20,363.2 20,534.8 2.1 2.8 2.8 492.1 490.9 490.1 169.2 171.4 173.4 3,369.1 3,477.3 3,552.1 1,379.1 1,441.7 1,453.9 7,685.9 7,793.5 7,850.7 3,324.2 3,355.2 3,331.3 1,037.2 1,098.2 1,080.1 1.5 1.8 1.8 2,537.4 2,530.5 2,598.7 Oct-17 Nov-17 Dec-17 20,732.0 21,129.8 21,150.3 2.7 2.7 2.7 494.8 500.4 501.7 169.8 164.5 167.9 3,655.6 3,674.2 3,719.6 1,587.3 1,632.2 1,666.9 7,907.8 8,102.2 8,128.2 3,206.3 3,233.4 3,182.8 1,091.4 1,114.9 982.5 1.7 1.3 2.3 2,614.6 2,704.0 2,795.7 Jan-18 Feb-18 Mar-18 21,670.0 21,471.2 21,485.1 2.8 2.6 2.6 507.3 484.3 481.2 163.4 160.1 134.7 3,867.9 3,947.3 4,073.1 1,675.9 1,645.9 1,540.1 8,382.7 8,138.3 8,025.9 3,237.2 3,271.9 3,282.2 1,035.7 1,009.9 1,128.2 3.7 3.1 3.1 2,793.4 2,807.7 2,813.9 Source: Maldives Monetary Authority Includes total loans and advances to private sector excluding accrued interest receivable and accounts receivable. 1/ 2/ From June 2017 onwards, construction loans are reported as real estate loans when all proceeds under the loan have been advanced as per instructions in MMA financial returns. 37 | Monthly Statistics - April 2018
  41. Financial Sector Period In % of Total loans & advances Fishing (12) Construction 2/ (13) Real estate 2/ (14) Tourism y/y % change Commerce (15) (16) Transport & Total loans & communication advances (17) Fishing Construction 2/ Real estate 2/ Tourism Commerce Transport & communication (18) (19) (20) (21) (22) (23) (24) 2012 2013 2014 3.8 3.8 2.7 8.4 9.1 11.6 4.2 4.9 4.1 57.8 51.1 43.4 14.9 17.6 16.9 3.3 3.6 4.1 -9.8 0.9 2.7 -28.5 -1.0 -26.9 1.6 9.5 31.4 -16.1 17.8 -13.1 -9.2 -10.8 -12.8 0.6 19.0 -1.4 -21.8 8.3 17.9 2015 2016 2017 2.7 2.8 2.4 14.6 18.1 17.6 4.0 3.4 7.9 39.5 39.2 38.4 17.7 17.2 15.0 5.3 5.8 4.6 12.3 10.4 14.4 12.8 15.3 -3.5 40.7 37.0 11.2 8.1 -5.5 163.3 2.3 9.5 12.0 17.8 7.2 0.1 45.9 19.6 -8.2 Apr-16 May-16 Jun-16 2.9 2.9 2.9 15.8 16.3 16.5 4.1 4.0 4.0 42.6 41.2 40.0 17.2 17.3 18.1 5.5 5.5 5.6 17.6 18.6 20.8 22.8 22.2 16.8 35.0 37.1 30.1 8.0 6.0 30.0 10.7 13.4 23.4 19.7 26.1 23.4 61.0 79.6 57.2 Jul-16 Aug-16 Sep-16 2.8 2.8 2.8 16.6 16.7 17.1 4.1 4.0 3.9 40.5 40.2 39.4 18.4 18.5 18.5 5.6 5.5 5.4 20.3 17.6 14.9 19.2 18.5 17.6 27.0 27.7 28.9 31.2 20.4 20.2 24.7 18.0 13.2 26.8 24.9 25.2 63.6 86.0 75.5 Oct-16 Nov-16 Dec-16 2.9 2.8 2.8 17.6 17.9 18.1 3.6 3.5 3.4 39.0 38.7 39.2 18.4 18.3 17.2 5.5 5.4 5.8 12.0 10.1 10.4 15.9 13.1 15.3 42.4 40.3 37.0 5.7 -4.4 -5.5 7.6 5.4 9.5 22.2 23.1 7.2 19.4 18.6 19.6 Jan-17 Feb-17 Mar-17 2.7 2.6 2.6 18.3 18.4 18.8 3.2 4.2 4.4 39.6 39.5 38.8 16.9 16.7 16.7 5.7 5.5 5.6 11.2 12.1 11.6 7.1 2.8 0.3 36.8 35.8 36.3 -10.0 16.1 22.1 6.5 10.3 8.0 12.3 13.6 12.6 21.0 20.4 18.9 Apr-17 May-17 Jun-17 2.6 2.6 2.5 19.2 19.4 16.5 4.4 3.7 6.9 38.2 38.4 38.3 16.4 17.0 16.9 5.5 5.4 5.3 10.2 11.2 11.9 0.9 1.0 -2.3 33.4 32.0 12.0 20.0 1.0 94.9 -1.1 3.9 7.3 5.3 9.2 4.4 11.1 10.6 5.4 Jul-17 Aug-17 Sep-17 2.5 2.4 2.4 16.8 17.1 17.3 6.9 7.1 7.1 38.4 38.3 38.2 16.6 16.5 16.2 5.2 5.4 5.3 12.6 12.6 12.7 -1.2 -1.9 -4.2 14.5 15.2 13.9 89.6 100.8 102.9 6.9 7.2 9.3 1.7 0.1 -1.3 4.5 10.7 9.1 Oct-17 Nov-17 Dec-17 2.4 2.4 2.4 17.6 17.4 17.6 7.7 7.7 7.9 38.1 38.3 38.4 15.5 15.3 15.0 5.3 5.3 4.6 14.1 16.2 14.4 -5.1 -2.5 -3.5 14.5 13.1 11.2 142.3 155.1 163.3 11.6 15.2 12.0 -3.9 -2.8 0.1 10.0 13.6 -8.2 Jan-18 Feb-18 Mar-18 2.3 2.3 2.2 17.8 18.4 19.0 7.7 7.7 7.2 38.7 37.9 37.4 14.9 15.2 15.3 4.8 4.7 5.3 16.7 13.4 12.8 1.7 -0.7 -2.6 13.6 13.1 13.8 180.0 108.7 85.4 14.1 8.8 8.6 2.9 3.5 3.0 -1.4 -3.2 6.7 2016 2017 2018 Monthly Statistics - April 2018 | 38
  42. Financial Sector Table 8 . Interest Rates, 2012 - 2018 (Weighted average; In % per annum, end of period) Maldives Monetary Authority Period Government Standing Facilities Overnight deposit facility Overnight lombard facility (1) (5) Deposits 364 Transferable deposits (6) Saving deposits Loans & advances Time deposits up to 3 m 3 to 6 m 2 to 3 yr Public nonfinancial corp. (7) (8) (9) (10) (11) (12) (13) 7.87 10.03 7.50 7.90 10.21 8.00 7.85 10.00 8.50 7.86 10.50 9.00 2.24 2.23 2.24 2.25 2.25 2.23 2.14 2.73 3.40 3.16 3.31 2.93 3.80 4.00 4.01 8.95 11.02 9.98 10.51 11.42 11.38 2015 2016 2017 1.50 1.50 1.50 10.00 10.00 10.00 3.50 3.50 3.50 3.87 3.87 3.87 4.23 4.23 4.23 4.60 4.60 4.60 2.37 2.38 1.45 2.20 1.65 1.48 3.33 2.08 2.21 3.04 2.63 2.83 3.94 2.50 2.66 9.64 9.00 9.98 10.82 10.62 9.82 Apr-16 May-16 Jun-16 1.50 1.50 1.50 10.00 10.00 10.00 3.50 3.50 3.50 3.87 3.87 3.87 4.23 4.23 4.23 4.60 4.60 4.60 2.34 2.08 2.36 1.49 1.49 1.48 2.41 2.32 3.00 3.25 3.18 3.13 2.79 2.73 2.68 8.80 8.50 8.59 10.86 10.81 10.82 Jul-16 Aug-16 Sep-16 1.50 1.50 1.50 10.00 10.00 10.00 3.50 3.50 3.50 3.87 3.87 3.87 4.23 4.23 4.23 4.60 4.60 4.60 2.37 2.37 2.36 1.48 1.48 1.19 2.36 2.57 2.81 2.75 2.55 2.48 2.67 2.56 2.51 8.64 8.68 8.81 10.77 10.69 10.66 Oct-16 Nov-16 Dec-16 1.50 1.50 1.50 10.00 10.00 10.00 3.50 3.50 3.50 3.87 3.87 3.87 4.23 4.23 4.23 4.60 4.60 4.60 2.37 2.38 2.38 1.65 1.68 1.65 2.33 2.23 2.08 2.28 2.38 2.63 2.50 2.50 2.50 8.86 8.89 9.00 10.62 10.67 10.62 Jan-17 Feb-17 Mar-17 1.50 1.50 1.50 10.00 10.00 10.00 3.50 3.50 3.50 3.87 3.87 3.87 4.23 4.23 4.23 4.60 4.60 4.60 2.40 1.46 1.47 1.66 1.76 1.75 1.69 1.71 1.81 2.55 2.38 2.31 2.50 2.51 2.63 9.05 9.08 8.92 10.67 10.45 10.61 Apr-17 May-17 Jun-17 1.50 1.50 1.50 10.00 10.00 10.00 3.50 3.50 3.50 3.87 3.87 3.87 4.23 4.23 4.23 4.60 4.60 4.60 1.48 1.46 1.48 1.78 1.48 1.48 1.78 1.79 1.84 2.31 2.59 2.86 2.65 2.66 2.64 8.52 8.85 9.10 10.30 10.13 9.98 Jul-17 Aug-17 Sep-17 1.50 1.50 1.50 10.00 10.00 10.00 3.50 3.50 3.50 3.87 3.87 3.87 4.23 4.23 4.23 4.60 4.60 4.60 1.46 1.47 1.50 1.49 1.48 1.49 2.05 2.35 2.35 3.02 2.83 2.82 2.65 2.66 2.67 9.27 9.14 9.30 9.95 10.04 10.03 Oct-17 Nov-17 Dec-17 1.50 1.50 1.50 10.00 10.00 10.00 3.50 3.50 3.50 3.87 3.87 3.87 4.23 4.23 4.23 4.60 4.60 4.60 1.50 1.46 1.45 1.48 1.48 1.48 2.57 2.24 2.21 2.77 2.91 2.83 2.60 2.60 2.66 9.33 9.37 9.98 9.97 9.90 9.82 Jan-18 Feb-18 Mar-18 1.50 1.50 1.50 10.00 10.00 10.00 3.50 3.50 3.50 3.87 3.87 3.87 4.23 4.23 4.23 4.60 4.60 4.60 1.46 1.45 1.45 1.48 1.48 1.48 2.00 1.99 2.07 2.79 2.70 2.68 2.65 2.68 2.59 9.92 10.06 10.27 9.76 10.12 10.07 Source: Maldives Monetary Authority 1/ Treasury bills reverted to a TAP system from an auction system in 2014. The rates were revised in 2015 due to a change in government policy. Note: Open market operations has been temporarily suspended from May 2014 onwards. 39 | Monthly Statistics - April 2018 Pvt. sector 16.00 12.00 10.00 2018 (4) 182 0.25 3.00 1.50 2017 (3) 91 2012 2013 2014 2016 (2) Treasury bills 28 Commercial banks (local currency) 1/
  43. Financial Sector Commercial banks (foreign currency) Period Deposits Transferable deposits Saving deposits Other financial institutions Loans & advances Time deposits up to 3 m 3 to 6 m 2 to 3 yr Public nonfinancial corp. Pvt. sector Stock exchange Share prices Masix Index Masix Index (Period Average) (End of Month) (14) (15) (16) (17) (18) (19) (20) (21) (22) 2012 2013 2014 1.59 1.56 1.57 2.22 2.28 2.23 3.68 3.22 2.81 3.86 3.43 3.77 4.49 3.84 3.08 9.33 9.24 9.25 8.68 8.58 8.46 150.70 129.81 133.38 149.74 114.60 134.13 2015 2016 2017 0.82 0.73 0.71 2.23 2.01 2.19 2.72 2.42 2.22 2.71 2.28 2.70 3.80 1.88 1.75 11.39 9.52 8.92 8.85 9.08 9.06 156.45 156.79 175.11 156.48 155.05 174.97 Apr-16 May-16 Jun-16 0.79 0.82 0.79 2.21 2.23 2.17 2.48 2.47 2.37 2.35 2.26 2.52 3.03 2.88 2.90 11.37 11.13 11.08 9.00 8.91 9.10 157.74 155.38 154.12 157.76 153.19 152.07 Jul-16 Aug-16 Sep-16 0.76 0.83 0.79 2.24 2.23 2.09 2.41 2.46 2.48 2.52 2.54 2.47 2.87 2.76 2.74 10.60 10.62 11.36 9.02 9.08 9.15 156.48 156.17 158.48 156.57 155.31 156.00 Oct-16 Nov-16 Dec-16 0.78 0.71 0.73 2.06 2.00 2.01 2.48 2.50 2.42 2.44 2.20 2.28 2.25 2.10 1.88 10.44 10.20 9.52 9.18 9.19 9.08 156.40 155.70 156.79 155.31 153.84 155.05 Jan-17 Feb-17 Mar-17 0.67 0.65 0.67 2.00 1.96 1.98 2.15 1.57 2.28 2.33 2.38 2.13 1.88 1.86 1.85 9.47 9.05 9.35 9.05 9.05 9.05 154.44 157.23 158.46 153.79 158.46 158.46 Apr-17 May-17 Jun-17 0.66 0.68 0.67 1.98 2.06 2.05 2.31 2.12 2.08 2.56 2.80 2.80 1.85 1.75 1.75 9.36 9.30 9.22 9.09 9.15 9.15 161.31 169.08 169.27 162.70 171.95 170.02 Jul-17 Aug-17 Sep-17 0.68 0.70 0.70 1.99 1.96 2.10 2.22 2.25 2.68 2.51 2.97 2.71 1.75 1.75 1.75 9.05 8.76 8.63 9.16 9.15 9.18 166.51 168.58 181.22 161.10 186.04 176.39 Oct-17 Nov-17 Dec-17 0.70 0.70 0.71 2.02 1.99 2.19 2.59 2.27 2.22 2.83 2.99 2.70 1.75 1.75 1.75 8.81 8.91 8.92 9.14 9.10 9.06 182.48 176.54 175.11 178.22 175.23 174.97 Jan-18 Feb-18 Mar-18 0.69 0.69 0.67 2.17 2.17 2.15 2.63 2.91 2.32 2.61 2.57 2.92 1.75 1.75 1.75 9.28 9.25 9.13 9.02 8.90 8.92 187.48 195.06 199.44 197.23 197.76 203.37 2016 2017 2018 Monthly Statistics - April 2018 | 40
  44. Financial Sector Table 9 Financial Soundness Indicators , 2012 - 2017 ¹⁄ (in percent) Capital adequacy Asset quality Period Liquidity Earnings and profitability NonRegulatory NonRegulatory Sectoral distribution of total loans to residents capital to risk- tier 1 capital performing performing Other Central Nonfinancial Others weighted loans net of loans to total to riskfinancial government corporations assets weighted provisions to gross loans corporations capital assets Return on assets (ROA) Return on equity (ROE) Interest margin to gross income NonLiquid Liquid interest assets to assets to expenses total assets short-term to gross liabilities (Liquid income asset ratio) (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) 2012 2013 2014 35.9 41.1 44.5 29.9 31.3 34.5 16.5 8.0 11.1 20.9 17.6 17.5 1.0 0.6 1.7 2.7 3.3 0.8 77.5 74.9 70.5 18.6 21.1 24.7 3.6 6.5 4.2 18.9 30.0 19.7 58.3 55.9 65.5 26.8 25.9 26.4 15.3 19.3 43.4 20.2 25.4 57.6 2015 2016 2017 37.2 44.5 44.6 30.0 34.4 36.3 3.0 2.4 3.3 14.1 10.6 10.5 1.6 2.1 2.3 0.3 0.2 1.8 67.7 64.1 59.9 27.0 30.7 34.6 3.4 4.7 3.7 16.5 19.6 15.3 60.7 64.9 64.3 30.1 27.7 30.7 43.1 48.4 44.3 56.3 66.8 62.3 2012 Q1 Q2 Q3 Q4 30.8 33.3 37.2 35.9 29.5 30.6 32.7 29.9 23.3 24.8 18.2 16.5 21.2 21.4 21.0 20.9 0.3 0.2 0.6 1.0 1.0 2.7 2.8 2.7 80.8 79.2 78.2 77.5 17.9 17.8 18.5 18.6 1.3 2.6 3.0 3.6 7.6 14.3 16.4 18.9 58.0 60.3 60.3 58.3 27.0 26.7 27.1 26.8 12.2 9.8 12.3 15.3 16.5 12.6 16.1 20.2 2013 Q1 Q2 Q3 Q4 39.5 37.3 38.6 41.1 34.2 31.2 30.4 31.3 11.6 9.0 8.4 8.0 18.9 18.6 17.4 17.6 0.7 0.4 0.5 0.6 3.5 3.6 3.4 3.3 77.2 76.8 76.4 74.9 18.5 19.2 19.7 21.1 8.4 6.1 6.0 6.5 40.5 28.8 27.8 30.0 43.2 50.9 58.2 55.9 21.5 27.7 25.7 25.9 18.6 17.8 16.1 19.3 24.2 23.4 21.4 25.4 2014 Q1 Q2 Q3 Q4 38.4 31.2 41.3 44.5 35.5 26.2 33.6 34.5 7.0 6.0 4.6 11.1 15.9 15.6 12.6 17.5 1.0 1.9 1.5 1.7 3.1 1.1 0.8 0.8 74.3 74.6 73.1 70.5 21.6 21.5 22.4 24.7 0.9 1.8 3.2 4.2 5.0 12.4 16.1 19.7 65.0 65.8 68.1 65.5 25.3 25.8 25.3 26.4 38.4 43.9 41.1 43.4 48.9 57.1 54.5 57.6 2015 Q1 Q2 Q3 Q4 44.5 42.4 42.0 37.2 42.1 38.1 36.1 30.0 7.5 0.4 3.5 3.0 16.0 15.7 15.3 14.1 2.0 1.8 1.7 1.6 0.6 0.5 0.4 0.3 71.8 68.6 70.0 67.7 23.4 26.9 26.9 27.0 2.2 5.5 3.2 3.4 10.6 14.4 15.0 16.5 62.0 57.1 60.2 60.7 29.0 28.3 28.1 30.1 40.2 73.8 45.2 43.1 52.1 100.4 59.8 56.3 2016 Q1 Q2 Q3 Q4 40.1 42.9 42.0 44.5 35.8 36.4 34.1 34.4 2.9 2.6 1.1 2.4 12.1 11.1 10.5 10.6 1.5 1.7 1.8 2.1 0.3 0.3 0.2 0.2 66.6 65.6 65.1 64.1 27.9 29.1 29.6 30.7 6.1 5.2 4.6 4.7 31.3 24.9 20.9 19.6 63.4 67.3 66.6 64.9 26.0 29.1 26.5 27.7 51.5 50.6 50.4 48.4 66.8 68.0 68.3 66.8 2017 Q1 Q2 Q3 Q4 41.3 41.8 43.9 44.6 38.3 37.3 37.9 36.3 2.4 2.6 4.2 3.3 10.7 9.6 10.9 10.5 2.4 2.3 2.2 2.3 0.1 3.7 1.9 1.8 63.1 60.0 61.0 59.9 31.7 31.9 33.2 34.6 3.6 3.5 3.5 3.7 16.1 15.4 14.3 15.3 66.5 65.9 65.9 64.3 27.9 28.3 30.3 30.7 47.8 45.3 43.2 44.3 64.8 62.8 61.0 62.3 Source: Maldives Monetary Authority 1/ This table is compiled based on information available as at 29th January 2017 in accordance with IMF's FSI Compilation Guide (2006). Please refer to the explanatory notes on Financial Soundness Indicators at the end of this publication for more details. 41 | Monthly Statistics - April 2018
  45. Financial Sector Table 10 Financial Access Survey , 2004 - 2016 ¹⁄ Commercial banks Period No. of institutions (1) No.of branches (2) No.of ATMs (3) No.of depositors (4) No.of deposit accounts (5) Other financial intermediaries No.of borrowers (6) No.of loan accounts (7) Outstanding loans (millions of MVR) (8) No.of No.of Outstanding institutions customers deposits (millions of MVR) (9) (10) (11) No. of customer accounts (12) Insurance corporations No.of borrowers No.of loan accounts (13) (14) No.of companies (15) No.of No.of insurance insurance policy holders policies (16) (17) 2004 5 16 15 133,619 na 14,914 na 3,766.1 5,121.8 2 na na 312 368 2 na na 2005 2006 2007 5 5 5 17 22 24 16 16 41 156,258 176,872 203,663 na na na 31,103 36,429 40,534 na na na 6,107.9 8,939.8 13,478.2 5,750.8 6,950.6 8,951.6 2 2 2 na na na na na na 580 724 861 665 810 959 2 2 2 na na na na na na 2008 2009 2010 6 6 6 25 26 26 41 44 45 227,505 253,900 267,475 na na na 41,462 30,783 28,768 na na na 17,532.3 16,841.2 16,602.4 10,639.8 12,081.6 14,334.5 2 2 2 na 503 578 na 503 578 887 503 578 977 503 578 2 2 4 na na na na na na 2011 2012 2013 7 7 7 26 27 27 47 58 64 309,306 305,635 319,033 404,424 334,572 425,711 39,127 39,944 33,204 40,099 41,256 35,004 17,701.7 16,022.2 16,148.0 17,326.9 17,943.7 20,956.1 2 2 2 875 1,352 1,606 875 1,373 1,624 875 1,352 1,606 875 1,373 1,624 4 4 3 na 31,206 31,225 na 56,504 52,633 2014 2015 2016 7 7 8 28 29 37 78 83 96 407,158 350,063 370,520 423,380 484,841 511,170 39,407 41,486 48,961 43,522 53,699 54,173 16,362.9 17,642.0 19,436.0 24,541.4 27,550.9 27,781.1 2 2 2 3,511 5,326 7,058 3,596 5,548 7,557 3,511 5,326 7,058 3,596 5,548 7,557 3 3 5 33,063 36,709 37,370 59,643 67,369 66,942 Source: Maldives Monetary Authority 1/ This table is compiled based on information available as at 12th June 2017 in accordance with IMF's Financial Access Survey. Note: Number of deposit accounts or number of loan accounts counted refers to total number of every single corporate, individiual and / or joint account, whilst number of depositors or number of borrowers counted refers to total number of corporate, individual, joint account holders who are counted as one depositor or borrower irrespective of the number of accounts held by the holders. Monthly Statistics - April 2018 | 42
  46. External Sector Table 11 . Gross International Reserves, 2012 - 2018 (Millions of MVR) Gross international reserves Period (1) 2012 2013 2014 2015 2016 2017 2016 2017 2018 Currency & deposits Securities other than shares Reserve position in the fund SDR holdings Other reserve assets 1/ (2) (3) (4) (5) - 47.3 47.6 44.7 162.7 161.8 151.2 - 42.8 98.6 105.2 140.1 66.6 62.1 104.0 103.9 103.4 Short term foreign liabilities 2/ Usable reserves 3/ y/y % change Gross international reserves Short term foreign liabilities Memorandum items Usable reserves 2/ 3/ (8 / 14) (13) Exchange rate (9) (10) (11) 2,838.7 3,970.1 7,155.8 1,841.5 1,705.7 2,310.6 -9.3 21.3 66.8 3.2 39.9 80.2 -23.6 -7.4 35.5 304.5 368.3 614.7 119.8 110.7 150.0 15.37 15.41 15.40 - 5,616.9 4,100.0 5,851.7 3,074.8 3,070.3 3,180.0 -8.2 -17.5 26.0 -21.5 -27.0 42.7 33.1 -0.1 3.6 564.0 467.1 586.1 199.5 200.0 206.4 15.41 15.35 15.41 79.1 76.8 74.2 6.1 21.1 7,203.2 6,317.0 6,262.9 3,624.6 3,304.2 3,333.1 6.0 -11.0 -12.6 3.2 -12.2 -13.8 12.1 -8.7 -10.2 707.2 624.3 623.9 236.7 214.4 216.7 15.31 15.41 15.38 (7) (1 / 14) (12) Usable reserves (million of USD) (1-7) (8) (6) (14) 4,680.3 5,675.7 9,466.4 4,470.2 5,466.4 9,270.4 8,691.8 7,170.2 9,031.8 8,508.9 6,851.5 8,479.6 Apr-16 May-16 Jun-16 10,827.9 9,621.2 9,596.0 10,644.8 9,434.4 9,397.3 Jul-16 Aug-16 Sep-16 9,433.6 8,209.1 8,320.8 9,250.2 8,013.0 7,761.4 384.2 103.2 103.0 103.3 74.1 74.0 72.0 6.2 19.0 - 6,224.2 5,328.5 5,366.4 3,209.4 2,880.6 2,954.4 -11.4 -19.8 -13.8 -14.4 -22.6 -14.7 -4.9 -14.1 -12.2 612.2 533.7 541.4 208.3 187.3 192.2 15.41 15.38 15.37 Oct-16 Nov-16 Dec-16 8,336.2 5,293.3 7,170.2 7,857.3 5,115.6 6,851.5 307.0 153.4 101.3 100.1 98.6 70.6 69.8 66.6 7.8 - 5,495.1 3,589.5 4,100.0 2,841.2 1,703.8 3,070.3 -4.3 -39.1 -17.5 -1.2 -35.6 -27.0 -9.8 -45.4 -0.1 543.1 343.5 467.1 185.1 110.6 200.0 15.35 15.41 15.35 Jan-17 Feb-17 Mar-17 7,341.9 7,963.3 7,713.1 7,019.1 7,641.4 7,392.9 154.1 154.0 153.8 100.7 100.2 100.5 68.0 67.7 65.8 - 4,235.4 4,676.8 4,255.5 3,106.5 3,286.5 3,457.6 -19.2 -26.1 -24.0 -29.1 -32.0 -32.6 -0.3 -15.6 -9.8 476.1 516.8 501.2 201.5 213.3 224.7 15.42 15.41 15.39 Apr-17 May-17 Jun-17 7,611.5 8,260.1 9,280.1 7,290.0 7,936.4 8,957.0 153.8 153.9 153.7 101.4 102.1 102.5 66.3 66.8 64.9 0.8 2.0 4,284.0 5,948.0 5,453.4 3,327.5 2,312.1 3,826.6 -29.7 -14.1 -3.3 -40.5 -5.8 -12.9 -8.2 -30.0 14.8 494.6 536.4 603.4 216.2 150.1 248.8 15.39 15.40 15.38 Jul-17 Aug-17 Sep-17 8,805.5 8,643.4 8,003.4 8,475.5 8,317.8 7,678.5 153.9 154.0 154.0 104.2 105.1 104.5 65.9 66.5 63.9 6.1 2.5 5,609.0 5,425.6 5,045.9 3,196.4 3,217.8 2,957.5 -6.7 5.3 -3.8 -9.9 1.8 -6.0 -0.4 11.7 0.1 571.8 560.5 519.4 207.6 208.7 191.9 15.40 15.42 15.41 Oct-17 Nov-17 Dec-17 7,623.6 8,162.3 9,031.8 7,297.6 7,836.7 8,479.6 154.0 153.8 384.9 104.1 104.8 105.2 63.6 64.1 62.1 4.2 2.8 - 4,850.4 5,516.1 5,851.7 2,773.1 2,646.2 3,180.0 -8.5 54.2 26.0 -11.7 53.7 42.7 -2.4 55.3 3.6 494.4 530.0 586.1 179.8 171.8 206.4 15.42 15.40 15.41 Jan-18 Feb-18 Mar-18 9,639.3 10,940.0 11,155.9 8,776.0 10,079.8 10,297.0 691.8 690.1 690.0 107.8 107.0 107.6 63.6 63.1 61.2 - 6,473.1 7,064.1 7,387.2 3,166.2 3,876.0 3,768.7 31.3 37.4 44.6 52.8 51.0 73.6 1.9 17.9 9.0 625.9 710.4 723.9 205.6 251.7 244.6 15.40 15.40 15.41 * * 153.4 384.9 - Source: Maldives Monetary Authority, Maldives Customs Service 1/ Gross international reserves (GIR) (million of USD) This includes financial derivatives. Short term (ST) foreign liabilities mainly include foreign currency deposits of commercial banks held at MMA. Usable reserves = GIR minus ST foreign liabilities where usable reserves represent the funds that are readily available for use by the MMA in the foreign exchange market. Note: Short term foreign liabilities and usable reserves are defined in accordance with 2009 IMF Article IV Consultation report. 43 | Monthly Statistics - April 2018
  47. External Sector Table 12 Summary of Balance of Payments , 2012 - 2018 ¹⁄ (Millions of USD) Capital account balance 3/ Current account balance Balance on Balance on primary secondary Income income Balance on goods and services Period Balance on goods Export Balance on services Import Export Import o/w Travel (2+10+11) (1) 2012 2013 2014 2015 2016 2017 2/ 2018 2/ 2/ 2/ (3+6) (2) (4-5) (3) (4) (5) (7-9) (6) (7) (8) Financial account (excludes reserve and related Net errors & items) omission Direct Portfolio Other investment investment investment Overall balance o/w debit 2012 2013 2014 2015 2016 2017 2/ 2018 2/ 2/ 2/ Memorandum items Current account as a % of GDP 4/ Workers remittance (9) (10) (11) (12) (13) (14) (15) (16) (17) (18) (1+13-14+18) (19) (20) (21) -184.5 -127.4 -117.8 339.5 508.3 545.0 -1,261.4 -1,372.0 -1,660.0 314.4 331.0 300.9 1,575.8 1,703.0 1,960.9 1,600.9 1,880.4 2,205.0 2,171.5 2,576.9 2,998.3 1,958.0 2,335.2 2,695.7 570.6 696.6 793.3 -272.1 -363.7 -355.1 -251.8 -272.0 -307.8 259.3 265.0 300.8 17.4 7.9 6.6 -187.7 -67.4 -543.9 -228.0 -360.8 -333.4 -53.1 53.3 17.2 93.4 240.1 -227.7 -51.0 119.8 -179.2 -30.4 67.7 253.4 -30.4 67.7 253.4 -6.4 -3.9 -3.2 -301.7 -1,032.4 -876.4 375.9 -50.7 -54.0 -1,654.7 -1,838.7 -1,904.6 239.8 256.2 318.3 1,894.5 2,094.9 2,222.9 2,030.6 1,788.0 1,850.6 2,905.3 2,891.4 3,149.6 2,569.1 2,505.6 2,741.8 874.7 1,103.4 1,299.0 -332.5 -352.9 -446.6 -345.2 -628.8 -375.9 347.8 375.6 417.1 9.5 - -481.3 -673.2 -878.0 -298.0 -456.6 -517.5 -122.9 132.1 -279.2 -60.4 -348.7 -81.3 -236.7 263.3 117.3 -47.7 -95.8 118.9 -47.7 -95.8 118.9 -7.6 -24.5 -18.9 -860.1 -39.9 -2,028.7 341.0 2,369.8 1,988.8 3,353.8 2,923.2 1,365.0 -424.7 -395.6 438.3 - -952.0 -491.3 -100.0 -360.8 49.9 141.8 141.8 -17.1 Current account balance Balance on goods and services Balance on goods Goods: export Balance on services Services: export Services: Travel Services: import Balance on Balance on Workers secondary remittance primary Income income Capital account balance 3/ Financial account (22) (23) (24) (25) (26) (27) (28) (29) (30) (31) (32) (33) (34) (35) (36) (37) 51.9 30.9 7.5 131.1 49.7 7.2 8.0 -8.8 -21.0 -9.2 5.3 -9.1 -8.2 8.1 15.1 5.5 17.5 17.3 3.5 18.7 16.4 0.9 19.3 15.4 -1.8 22.1 13.9 7.6 -33.6 2.4 -6.9 -8.0 -13.1 8.3 2.2 13.5 -38.9 -54.8 -16.1 54.9 64.1 -706.9 46.2 -58.3 7.6 -156.1 -242.2 15.1 -31.0 -113.5 -6.6 0.3 -11.1 -3.6 -20.3 6.8 24.3 -3.4 10.6 6.1 -7.9 -11.9 3.5 -3.1 -0.5 8.9 -4.7 -2.5 9.4 10.3 26.1 17.7 6.4 -6.2 -26.5 -12.1 -82.2 40.2 15.6 8.0 11.0 44.1 -100.0 na 11.5 -39.9 -30.4 1.9 26.1 -6.5 7.1 6.6 7.5 6.5 6.6 5.1 4.9 -5.2 5.1 na -8.4 Memorandum items y/y % change Period Reserve and related items Goods: import Export of goods & services Gross International reserves Nominal GDP 5/ (38) (39) (40) (41) {...} 200.5 -67.7 {...} 157.2 -194.9 2,485.9 2,907.9 3,299.2 304.5 368.3 614.7 2,875.8 3,283.6 3,687.9 10.6 -53.2 -13.3 -813.0 207.5 -311.3 73.5 -477.7 76.7 3,145.1 3,147.6 3,468.0 564.0 467.1 586.1 3,992.6 4,210.1 4,648.3 5.1 64.2 -343.8 3,694.8 727.9 5,022.0 Portfolio Other Direct investment investment investment Source: Maldives Monetary Authority, National Bureau of Statistics, Ministry of Finance & Treasury. 1/ This table is compiled based on information available as at 11th April 2018 in accordance with BPM6 methodologies. Please refer to the explanatory notes on external sector at the end of this publication for more details. Figures for 2017 are revised estimates and figures for 2018 are revised projections. Capital grants are included in secondary income account from 2016 onwards since total grants is not segregated. 4/ Current account as a percentage of GDP is calculated using rebased GDP figures. 5/ GDP has been rebased to base year 2014 in November 2017. 2/ 3/ Monthly Statistics - April 2018 | 44
  48. External Sector Table 13 .1 Imports and Exports, 2012 - 2017 (Millions of USD) Total imports c.i.f. Pvt. imports Period (2 to 4) (1) (2) Total exports f.o.b. Public Imports Public enterprises (3) y/y % change Domestic exports f.o.b. Govt. Pvt. exports (4) (6+9) (5) (7+8) (6) (7) Total imports c.i.f. Pvt. imports (10) (11) (12) (13) (14) (15) (16) (17) Re-exports Public exports (8) o/w Jet fuel (9) Public enterprises Total exports f.o.b. Domestic Re-exports exports f.o.b. Jet fuel 2012 2013 2014 1,554.3 1,733.4 1,992.5 1,113.2 1,210.6 1,366.6 403.0 495.9 587.0 38.2 26.9 38.9 314.4 331.0 300.9 161.6 166.5 144.8 98.0 101.9 96.6 63.6 64.6 48.3 152.8 164.4 156.0 130.6 145.4 133.0 6.1 11.5 14.9 10.1 8.8 12.9 16.1 23.1 18.4 -9.2 5.3 -9.1 26.8 3.1 -13.0 -30.2 7.6 -5.1 -28.1 11.3 -8.5 2015 2016 2017 1,896.3 2,125.4 2,360.4 1,384.2 1,570.3 1,819.7 441.1 408.9 465.4 71.1 146.1 75.3 239.8 256.2 318.3 144.1 139.6 199.4 107.2 96.4 116.1 37.0 43.2 83.3 95.7 116.6 118.9 73.0 58.5 83.0 -4.8 12.1 11.1 1.3 13.4 15.9 -24.9 -7.3 13.8 -20.3 6.8 24.3 -0.5 -3.2 42.9 -38.7 21.9 2.0 -45.1 -19.9 41.9 Jan-16 Feb-16 Mar-16 148.5 152.5 182.0 113.4 119.2 127.2 31.1 24.9 31.7 4.0 8.4 23.1 20.5 19.1 16.7 11.6 13.2 11.1 9.0 8.2 9.5 2.6 5.1 1.7 8.9 5.8 5.6 8.2 5.5 4.8 -14.7 0.2 8.8 6.3 16.5 2.1 -45.8 -42.5 -15.4 -27.1 4.3 -36.6 -31.3 28.4 -18.0 -20.6 -26.9 -56.3 -13.5 -24.3 -46.5 Apr-16 May-16 Jun-16 186.9 209.0 173.2 116.0 133.5 120.0 32.0 32.8 39.6 39.0 42.7 13.6 21.2 20.7 11.5 15.8 16.3 6.1 9.0 10.5 6.0 6.8 5.8 0.1 5.3 4.4 5.4 4.3 3.6 3.1 27.4 36.6 19.6 4.8 22.2 11.0 -0.4 -12.7 10.9 -21.0 -2.3 -25.6 7.4 20.1 -36.1 -55.9 -42.1 -8.5 -40.0 -32.6 -36.9 Jul-16 Aug-16 Sep-16 157.3 172.7 170.4 124.0 135.2 141.1 30.2 34.8 27.8 3.1 2.8 1.5 8.0 16.8 12.9 3.9 10.8 8.0 3.9 6.8 6.0 0.0 4.1 2.0 4.1 6.0 4.9 3.1 5.2 3.7 2.1 4.6 11.5 9.1 14.0 18.7 -7.1 -8.3 -14.5 -31.0 -18.8 -38.0 -31.8 -20.8 -35.6 -30.2 -14.8 -41.4 -35.5 -2.7 -37.7 Oct-16 Nov-16 Dec-16 173.0 190.6 209.3 130.1 158.6 152.0 39.6 29.1 55.4 3.3 2.9 1.9 27.6 18.8 62.6 18.5 11.2 13.0 10.6 8.9 8.2 7.9 2.3 4.8 9.1 7.6 49.6 5.1 6.2 5.8 9.0 18.6 25.6 12.3 34.0 10.7 14.2 -17.0 122.5 117.1 -18.9 320.9 99.7 -26.4 40.3 163.4 -4.6 785.0 63.2 3.0 22.3 Jan-17 Feb-17 Mar-17 195.0 187.8 186.7 148.0 146.5 144.0 38.4 38.3 39.1 8.5 3.0 3.6 35.4 29.1 21.0 23.7 19.5 10.8 11.6 8.5 10.0 12.1 11.1 0.8 11.7 9.6 10.2 8.0 8.1 7.7 31.3 23.2 2.6 30.6 22.9 13.2 23.6 53.8 23.4 73.2 52.8 25.6 104.1 47.5 -3.2 32.7 64.6 83.1 -2.4 47.9 59.8 Apr-17 May-17 Jun-17 201.2 217.1 184.6 144.2 173.8 138.3 42.2 38.3 39.4 14.8 5.0 7.0 22.6 32.4 30.7 13.5 21.2 16.9 12.1 10.0 7.8 1.5 11.1 9.0 9.1 11.2 13.9 8.0 6.0 3.3 7.7 3.9 6.6 24.4 30.2 15.2 31.9 16.9 -0.7 7.0 56.4 167.7 -14.5 29.9 175.8 71.0 153.9 158.4 87.8 65.8 8.5 Jul-17 Aug-17 Sep-17 187.1 194.9 191.2 146.2 151.3 145.6 35.8 33.5 38.7 5.1 10.1 6.9 18.6 23.4 15.3 12.0 15.2 8.7 6.6 8.3 7.9 5.3 6.9 0.8 6.7 8.2 6.6 5.5 7.3 4.9 18.9 12.9 12.2 17.8 11.9 3.2 18.6 -3.7 39.0 133.1 39.4 18.8 210.3 40.6 8.3 61.1 37.4 36.0 79.5 38.9 30.2 Oct-17 Nov-17 Dec-17 200.9 194.0 219.8 160.9 149.7 171.2 34.7 40.8 46.2 5.3 3.4 2.4 25.5 27.2 37.1 14.6 18.1 25.3 9.5 11.5 12.3 5.2 6.6 13.0 10.9 9.1 11.7 5.8 7.6 10.9 16.1 1.8 5.1 23.7 -5.6 12.6 -12.5 40.5 -16.6 -7.5 44.5 -40.8 -20.9 61.6 94.8 19.5 19.4 -76.3 15.2 21.9 87.7 Jan - Dec Jan - Dec 2,125.4 2,360.4 1,570.3 1,819.7 408.9 465.4 146.1 75.3 256.2 318.3 139.6 199.4 96.4 116.1 43.2 83.3 116.6 118.9 58.5 83.0 12.1 11.1 13.4 15.9 -7.3 13.8 6.8 24.3 -3.2 42.9 21.9 2.0 -19.9 41.9 2016 2017 2016 2017 Source: Maldives Customs Service, Maldives Airports Company Limited, Gan International Airport, Maamigili International Airport. Note: Data available up to December 2017. 45 | Monthly Statistics - April 2018
  49. External Sector Table 13 .2 Composition of Exports, 2012 - 2017 (Millions of USD) Total exports f.o.b. y/y % change Domestic exports Fish exports Fresh, Fresh, Canned or chilled or chilled or pouched frozen tuna frozen fish (excluding tuna) Period (2 + 10) (1) (3+8+9) (2) (4 to 7) (3) Domestic exports Fish exports Fresh, Fresh, chilled or chilled or frozen tuna frozen fish (excluding tuna) Canned or pouched Processed Re-exports fish, nes (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17) (18) 2012 2013 2014 314.4 331.0 300.9 161.6 166.5 144.8 156.1 161.3 139.1 128.3 133.3 112.0 4.4 3.2 4.4 13.8 16.5 15.8 9.6 8.3 6.9 1.9 1.8 1.9 3.6 3.4 3.7 152.8 164.4 156.0 -9.2 5.3 -9.1 26.8 3.1 -13.0 29.4 3.4 -13.7 33.2 3.9 -16.0 10.3 -27.1 38.3 50.1 20.1 -4.3 -13.3 -14.0 -16.8 -30.2 7.6 -5.1 2015 2016 2017 239.8 256.2 318.3 144.1 139.6 199.4 137.3 134.8 193.1 108.7 106.6 158.2 4.9 4.4 4.5 13.8 15.4 23.8 9.9 8.4 6.6 2.6 2.2 1.4 4.2 2.6 4.8 95.7 116.6 118.9 -20.3 6.8 24.3 -0.5 -3.2 42.9 -1.3 -1.8 43.3 -2.9 -1.9 48.4 11.2 -9.5 2.0 -12.6 11.1 54.8 43.1 -15.3 -20.8 -38.7 21.9 2.0 Jan-16 Feb-16 Mar-16 20.5 19.1 16.7 11.6 13.2 11.1 11.3 12.8 10.6 8.5 10.2 8.3 0.4 0.2 0.4 1.3 1.5 1.3 1.0 0.8 0.6 0.2 0.2 0.3 0.2 0.2 0.2 8.9 5.8 5.6 -27.1 4.3 -36.6 -31.3 28.4 -18.0 -30.1 30.2 -17.7 -39.2 39.5 -14.6 -17.0 -62.4 -60.6 54.3 33.1 -3.2 35.4 15.1 -24.7 -20.6 -26.9 -56.3 Apr-16 May-16 Jun-16 21.2 20.7 11.5 15.8 16.3 6.1 15.5 15.8 5.8 13.6 13.3 3.6 0.4 0.5 0.2 0.9 1.1 1.6 0.6 0.9 0.4 0.2 0.2 0.2 0.2 0.2 0.2 5.3 4.4 5.4 -21.0 -2.3 -25.6 7.4 20.1 -36.1 11.2 20.0 -35.6 18.5 28.2 -48.7 -17.4 48.4 12.4 -40.6 -21.5 81.9 26.3 -16.1 -55.4 -55.9 -42.1 -8.5 Jul-16 Aug-16 Sep-16 8.0 16.8 12.9 3.9 10.8 8.0 3.5 10.5 7.6 1.7 8.1 5.2 0.3 0.7 0.3 1.2 1.2 1.6 0.4 0.6 0.5 0.1 0.1 0.2 0.3 0.2 0.2 4.1 6.0 4.9 -31.0 -18.8 -38.0 -31.8 -20.8 -35.6 -30.9 -20.2 -37.1 -36.3 -26.6 -47.4 668.8 48.3 44.2 -35.6 25.9 149.5 -32.0 -24.9 -63.6 -30.2 -14.8 -41.4 Oct-16 Nov-16 Dec-16 27.6 18.8 62.6 18.5 11.2 13.0 18.0 10.9 12.6 15.2 8.6 10.4 0.3 0.3 0.4 1.6 1.1 1.1 0.9 1.0 0.7 0.1 0.2 0.1 0.3 0.1 0.2 9.1 7.6 49.6 117.1 -18.9 320.9 99.7 -26.4 40.3 104.9 -25.5 43.9 132.0 -30.2 61.5 1.0 -3.2 3.6 63.7 -14.8 -5.7 -5.4 21.2 -5.9 163.4 -4.6 785.0 Jan-17 Feb-17 Mar-17 35.4 29.1 21.0 23.7 19.5 10.8 23.2 18.8 10.3 20.5 15.6 7.4 0.4 0.6 0.5 1.5 2.1 1.8 0.8 0.5 0.6 0.1 0.1 0.1 0.4 0.6 0.3 11.7 9.6 10.2 73.2 52.8 25.6 104.1 47.5 -3.2 105.9 47.0 -2.9 141.3 53.2 -10.9 -5.2 128.9 23.4 15.9 37.1 40.7 -25.8 -35.6 -3.6 32.7 64.6 83.1 Apr-17 May-17 Jun-17 22.6 32.4 30.7 13.5 21.2 16.9 13.1 20.5 16.3 10.6 18.5 14.0 0.4 0.3 0.1 1.6 1.3 1.7 0.4 0.3 0.5 0.1 0.2 0.1 0.4 0.5 0.5 9.1 11.2 13.9 7.0 56.4 167.7 -14.5 29.9 175.8 -15.4 29.4 179.8 -21.5 39.3 288.9 0.6 -51.0 -32.0 78.8 26.1 4.4 -25.5 -64.0 4.3 71.0 153.9 158.4 Jul-17 Aug-17 Sep-17 18.6 23.4 15.3 12.0 15.2 8.7 11.6 14.7 8.2 8.6 10.6 5.6 0.3 0.4 0.2 2.1 3.0 2.1 0.5 0.7 0.3 0.1 0.2 0.1 0.3 0.3 0.4 6.7 8.2 6.6 133.1 39.4 18.8 210.3 40.6 8.3 231.9 40.4 8.5 409.0 30.9 8.1 26.4 -35.3 -31.8 80.5 159.6 32.7 43.0 17.3 -41.6 61.1 37.4 36.0 Oct-17 Nov-17 Dec-17 25.5 27.2 37.1 14.6 18.1 25.3 14.1 17.5 24.8 10.4 14.2 22.0 0.4 0.5 0.4 3.0 1.7 1.9 0.3 1.2 0.5 0.1 0.1 0.1 0.4 0.4 0.4 10.9 9.1 11.7 -7.5 44.5 -40.8 -20.9 61.6 94.8 -21.4 61.1 96.7 -31.5 65.5 112.2 16.4 77.9 4.7 88.2 57.6 64.9 -62.4 22.7 -27.0 19.5 19.4 -76.3 Jan - Dec Jan - Dec 256.2 318.3 139.6 199.4 134.8 193.1 106.6 158.2 4.4 4.5 15.4 23.8 8.4 6.6 2.2 1.4 2.6 4.8 116.6 118.9 6.8 24.3 -3.2 42.9 -1.8 43.3 -1.9 48.4 -9.5 2.0 11.1 54.8 -15.3 -20.8 21.9 2.0 2016 2017 2016 2017 (4) Garments Fish & other products, Processed exports sea food, fish, nes marine product nes & live fish Re-exports Total exports f.o.b. Source: Maldives Customs Service, Maldives Airports Company Limited, Gan International Airport, Maamigili International Airport. Note: Data available up to December 2017. Monthly Statistics - April 2018 | 46
  50. External Sector Table 13 .3 Composition of Imports, 2012 - 2017 (Millions of USD) Total imports c.i.f. Food items o/w Vegetables, Price administered rootcrops & staples spices Period (2+9+10+11 +15+16+17+ 18+19) (1) import weight (2) (3) (4) Fruit, nuts & seeds (5) Meat, fish & seafood (6) Dairy & eggs (7) Beverages & confectioneries (8) Furniture, Electronic & fixtures & electrical fittings appliances (9) (10) Petroleum products 1/ o/w Petrol (11) (12) Diesel (marine gas oil) Aviation gas (13) (14) Electrical, Other items Transport Wood, metal, Machinery, equipments cement & mechanical electronic & parts aggregates appliances & machinery, parts, nes equipments & parts, nes (15) (16) (17) (18) (19) 100.0 18.8 2.0 2.7 2.1 3.0 2.6 4.0 3.6 3.2 22.2 2.0 17.7 1.3 6.8 12.1 7.3 6.5 19.6 2012 2013 2014 1,554.3 1,733.4 1,992.5 318.9 378.9 407.6 29.1 39.7 32.9 41.1 48.5 52.0 37.2 40.5 45.2 60.1 78.4 83.2 44.7 51.5 58.2 64.0 74.2 83.6 47.6 64.9 64.8 36.2 45.6 52.5 488.3 503.2 571.6 39.0 44.8 56.6 330.7 297.0 346.3 99.4 134.3 137.6 74.5 120.5 143.7 140.1 136.4 169.2 80.3 89.8 120.9 55.0 72.7 88.3 313.4 321.5 373.9 2015 2016 2017 1,896.3 2,125.4 2,360.4 405.9 429.6 462.4 34.7 34.9 33.8 53.3 56.9 65.6 47.0 51.0 57.1 80.9 84.3 92.6 55.9 57.8 55.5 81.8 89.3 94.7 66.8 99.7 89.4 53.8 61.2 67.2 285.2 247.3 314.3 26.0 26.3 37.4 208.0 193.1 234.4 33.9 11.2 22.2 188.7 188.7 167.8 241.0 286.4 355.8 121.9 203.7 205.2 99.5 114.6 135.8 433.6 494.2 562.5 Jan-16 Feb-16 Mar-16 148.5 152.5 182.0 35.1 33.2 37.5 2.8 3.1 2.4 4.5 4.9 4.6 3.8 4.0 4.2 6.6 5.9 8.2 5.0 4.2 5.3 8.1 6.5 8.0 7.7 9.0 5.5 3.6 4.0 6.0 17.3 10.2 21.9 2.6 0.4 1.2 12.7 6.7 18.2 0.0 1.7 1.4 11.3 8.6 13.7 17.9 20.1 25.5 12.2 16.0 20.5 9.0 8.8 9.7 34.4 42.6 41.6 Apr-16 May-16 Jun-16 186.9 209.0 173.2 33.8 37.8 37.9 3.0 2.3 3.7 4.6 5.3 4.8 4.3 5.3 5.7 6.6 6.2 6.8 4.2 5.7 5.2 7.3 7.3 6.3 6.1 8.2 9.9 5.0 6.2 5.9 22.6 22.8 17.2 2.7 1.9 1.4 17.1 18.2 13.4 1.3 1.1 1.0 25.1 37.6 17.0 21.2 31.4 21.8 20.5 14.7 15.7 7.0 7.0 11.3 45.6 43.2 36.4 Jul-16 Aug-16 Sep-16 157.3 172.7 170.4 30.6 37.9 31.6 2.3 3.4 2.2 4.2 5.0 4.4 3.6 3.6 3.9 4.9 8.2 6.6 4.5 5.8 3.9 7.3 7.1 6.7 8.6 9.2 8.8 5.1 4.8 4.4 20.6 26.6 16.6 1.1 4.1 2.2 17.5 19.1 13.6 1.1 1.5 0.1 10.8 9.2 11.6 22.4 22.1 27.8 13.9 14.1 21.5 9.5 7.5 9.0 35.9 41.3 39.0 Oct-16 Nov-16 Dec-16 173.0 190.6 209.3 34.7 36.2 43.4 3.8 2.2 3.6 4.7 4.7 5.4 4.3 4.0 4.5 6.6 7.5 10.4 4.5 4.6 4.9 6.6 8.9 9.3 8.3 10.0 8.3 5.6 4.7 5.9 21.4 21.4 28.7 2.5 2.6 3.5 16.6 17.8 22.2 0.6 0.1 1.2 15.0 12.5 16.4 23.9 27.3 24.9 13.6 22.4 18.5 10.2 9.4 16.2 40.2 46.8 46.9 Jan-17 Feb-17 Mar-17 195.0 187.8 186.7 38.8 35.3 39.1 3.2 3.5 2.7 5.3 4.9 5.0 4.9 4.3 4.9 7.4 7.1 7.4 4.4 4.0 4.8 8.9 7.4 8.3 7.6 7.0 6.3 5.0 4.7 5.9 23.4 19.7 28.5 3.0 2.1 4.6 15.9 14.5 22.4 3.3 1.0 0.9 10.6 11.0 18.1 23.1 29.6 21.4 22.1 23.9 13.9 17.1 11.1 7.7 47.2 45.7 45.9 Apr-17 May-17 Jun-17 201.2 217.1 184.6 40.5 39.5 32.5 3.7 2.9 3.0 5.1 5.7 4.3 5.3 5.4 4.4 8.2 7.2 5.5 4.3 5.5 3.7 8.2 6.8 7.3 6.4 7.5 6.2 7.1 7.6 4.3 28.1 30.8 30.1 3.2 3.2 4.2 22.7 23.3 22.1 0.8 2.3 2.5 14.6 23.0 13.3 29.1 36.2 27.3 14.7 16.7 16.4 13.7 8.0 9.0 47.1 47.7 45.6 Jul-17 Aug-17 Sep-17 187.1 194.9 191.2 38.1 36.9 36.1 3.1 2.3 2.4 5.7 5.0 6.1 4.2 4.7 4.0 7.1 7.8 7.2 4.5 4.9 4.2 7.8 7.0 6.8 8.3 9.0 6.6 4.1 4.8 4.7 14.1 26.3 32.4 1.2 4.0 3.2 10.6 18.6 26.1 1.3 1.3 1.4 10.7 10.2 17.4 33.7 34.6 27.0 18.8 15.4 17.2 10.9 11.1 7.3 48.4 46.5 42.4 Oct-17 Nov-17 Dec-17 200.9 194.0 219.8 41.2 39.0 45.4 2.7 1.6 2.7 6.4 5.6 6.5 5.0 4.5 5.5 8.2 8.5 11.0 5.3 5.3 4.6 8.1 8.7 9.3 10.0 6.5 8.0 6.0 5.6 7.5 25.6 31.2 24.1 3.1 3.4 2.2 18.5 22.1 17.6 2.4 3.2 1.8 9.3 9.1 20.5 34.8 26.9 32.2 15.8 15.9 14.4 10.1 13.2 16.6 48.1 46.6 51.2 Jan - Dec Jan - Dec 2,125.4 2,360.4 429.6 462.4 34.9 33.8 56.9 65.6 51.0 57.1 84.3 92.6 57.8 55.5 89.3 94.7 99.7 89.4 61.2 67.2 247.3 314.3 26.3 37.4 193.1 234.4 11.2 22.2 188.7 167.8 286.4 355.8 203.7 205.2 114.6 135.8 494.2 562.5 2016 2017 2016 2017 Source: Maldives Customs Service 1/ Due to the amendments in Export Import Act 31/79, duty on petroleum products were reinstated from 1st April 2015. Hence import of petroleum products from April 2015 onwards include only the total value of petroleum products sold locally. Note: Data available up to December 2017. 47 | Monthly Statistics - April 2018
  51. External Sector y /y % change Total imports Food items c.i.f. Period Furniture, fixtures & fittings Electronic & electrical appliances Petroleum products Petrol Diesel (marine gas oil) Aviation gas Transport Wood, metal, Machinery, Electrical, equipments electronic cement & mechanical & parts aggregates appliances & machinery, equipments parts, nes & parts, nes Other items (20) (21) (22) (23) (24) (25) (26) (27) (28) (29) (30) (31) (32) 2012 2013 2014 6.1 11.5 14.9 7.4 18.8 7.6 -6.4 36.3 -0.1 -8.0 26.1 15.0 33.3 3.1 13.6 16.7 14.6 26.4 14.3 -10.2 16.6 294.1 35.1 2.4 -32.6 61.7 19.2 -0.4 -2.7 24.1 -1.3 11.8 34.7 -43.1 32.1 21.5 10.9 2.6 16.3 2015 2016 2017 -4.8 12.1 11.1 -0.4 5.8 7.6 5.5 49.4 -10.4 2.6 13.8 9.8 4.0 -13.3 27.1 -2.7 1.3 42.0 -3.8 -7.2 21.4 -2.1 -67.1 99.0 3.0 0.0 -11.1 2.6 18.8 24.2 -50.1 67.0 0.7 -54.0 15.2 18.4 -39.9 14.0 13.8 Jan-16 Feb-16 Mar-16 -14.7 0.2 8.8 5.2 16.7 0.2 51.4 94.9 48.8 5.6 16.6 35.7 -21.4 -71.0 -19.2 108.3 -75.1 -30.8 -14.0 -69.0 2.0 -99.7 -83.1 -71.2 -68.7 -63.3 -46.9 3.2 30.5 56.7 31.0 106.3 148.8 17.8 153.0 55.3 -13.3 39.1 9.3 Apr-16 May-16 Jun-16 27.4 36.6 19.6 8.2 6.1 7.7 74.9 60.2 115.4 10.4 7.1 24.1 -23.8 24.0 -28.2 -28.1 15.8 -36.6 -29.3 24.2 -28.5 na -10.2 -34.3 246.3 237.1 119.9 -5.4 51.4 11.9 132.2 51.5 83.3 -14.7 -32.3 43.1 46.6 19.7 11.9 Jul-16 Aug-16 Sep-16 2.1 4.6 11.5 -2.4 10.0 -2.0 29.4 58.1 58.1 28.5 -5.6 4.1 -4.2 -8.8 -27.8 -45.2 41.6 -35.6 6.1 9.2 -23.4 -34.9 -80.1 -86.1 -12.4 -44.8 47.6 1.4 19.3 19.7 50.9 11.0 96.9 -15.3 -26.8 47.3 -0.0 27.1 -1.6 Oct-16 Nov-16 Dec-16 9.0 18.6 25.6 2.3 5.5 12.9 50.7 26.7 -3.9 11.4 -2.2 35.9 47.2 -8.8 65.7 313.6 -20.0 144.4 52.0 -5.5 50.8 -45.1 -34.7 {...} -26.6 22.3 68.8 24.3 20.7 5.5 31.8 54.1 56.7 -0.5 21.7 59.8 2.1 32.6 10.2 Jan-17 Feb-17 Mar-17 31.3 23.2 2.6 10.6 6.3 4.1 -1.3 -22.9 13.8 38.6 16.6 -2.4 35.8 94.1 30.1 14.6 367.1 282.6 25.9 116.6 22.6 {...} -44.0 -37.1 -6.4 27.4 32.5 29.0 47.7 -16.2 81.4 49.1 -32.4 90.0 25.5 -21.0 37.1 7.2 10.5 Apr-17 May-17 Jun-17 7.7 3.9 6.6 19.7 4.7 -14.3 5.4 -8.5 -37.3 42.3 23.2 -28.2 24.1 35.1 74.9 17.5 68.8 194.1 32.8 27.5 64.2 -37.1 113.9 139.4 -41.6 -38.9 -21.7 37.1 15.2 24.9 -28.2 13.0 4.5 95.4 14.5 -20.7 3.2 10.4 25.2 Jul-17 Aug-17 Sep-17 18.9 12.9 12.2 24.7 -2.5 14.2 -3.6 -2.0 -25.4 -18.7 -0.4 7.2 -31.6 -1.2 94.8 9.5 -2.6 45.9 -39.9 -2.2 92.5 17.9 -13.0 {...} -0.6 11.2 50.0 50.3 56.7 -2.7 35.4 9.2 -19.8 15.0 48.8 -18.6 34.8 12.5 8.7 Oct-17 Nov-17 Dec-17 16.1 1.8 5.1 18.9 7.9 4.5 20.7 -35.1 -4.4 6.0 19.8 27.3 19.3 45.8 -15.9 23.3 30.0 -38.1 11.7 24.5 -20.8 297.8 {...} 46.8 -38.2 -27.3 25.6 45.4 -1.6 29.1 16.2 -29.2 -22.1 -1.3 41.2 2.1 19.7 -0.4 9.1 Jan - Dec Jan - Dec 12.1 11.1 5.8 7.6 49.4 -10.4 13.8 9.8 -13.3 27.1 1.3 42.0 -7.2 21.4 -67.1 99.0 0.0 -11.1 18.8 24.2 67.0 0.7 15.2 18.4 14.0 13.8 2016 2017 2016 2017 Monthly Statistics - April 2018 | 48
  52. External Sector Table 13 .4 Direction of Trade - Exports, 2012 - 2017 (Millions of USD) Domestic exports f.o.b o/w Asia Period (2 to 7) (1) y/y % change Europe Oceania North America o/w Sri Lanka Thailand France Italy Great Britain Germany Domestic United exports f.o.b. States Asia Europe North Sri Lanka America Thailand France Italy Great Britain Germany United States (2) (3) (4) (5) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17) (18) (19) (20) (21) (22) (23) (24) (25) 2012 2013 2014 161.6 166.5 144.8 81.3 94.6 73.1 73.4 63.2 57.8 0.9 0.6 0.4 6.1 8.1 13.6 11.7 9.5 8.7 44.3 61.7 46.7 26.7 22.5 20.9 12.4 8.2 5.1 12.0 9.1 6.8 5.5 10.0 9.7 4.9 7.2 13.1 26.8 3.1 -13.0 20.7 16.4 -22.8 25.3 -13.9 -8.6 404.8 33.0 68.1 -15.9 -18.6 -7.8 32.3 39.2 -24.3 26.5 -15.9 -6.8 -2.5 -33.5 -37.8 29.5 -24.2 -25.5 69.6 81.3 -3.5 325.2 46.8 80.5 2015 2016 2017 144.1 139.6 199.4 69.0 72.6 118.1 59.5 53.7 65.9 0.2 0.6 0.7 15.2 12.6 14.6 17.3 14.2 7.5 36.6 48.0 97.0 15.1 12.3 13.9 8.1 6.9 5.8 8.3 5.8 11.4 10.0 12.2 14.3 14.7 12.4 13.9 -0.5 -3.2 42.9 -5.5 5.2 62.6 2.9 -9.7 22.6 12.3 -17.0 15.5 97.8 -17.7 -47.1 -21.5 31.1 101.9 -27.8 -18.9 13.2 57.4 -14.9 -16.1 22.4 -30.4 97.4 3.8 21.6 17.7 12.1 -15.7 12.4 Jan-16 Feb-16 Mar-16 11.6 13.2 11.1 5.5 7.0 4.0 5.0 5.0 5.4 0.0 0.0 0.0 1.1 1.2 1.8 1.5 1.3 1.5 3.2 4.9 1.5 1.2 1.0 1.1 0.7 0.7 0.7 0.4 0.3 0.4 1.1 1.2 1.3 1.1 1.2 1.8 -31.3 28.4 -18.0 -46.4 35.4 -36.7 -1.2 9.4 -8.9 -28.2 121.2 28.5 28.3 14.6 -11.8 -55.3 141.9 31.7 -27.3 -11.0 -21.3 -14.7 2.4 -24.1 -1.4 -80.4 -73.5 42.7 48.9 94.0 -26.6 133.1 35.0 Apr-16 May-16 Jun-16 15.8 16.3 6.1 9.1 9.1 1.6 5.1 5.9 4.1 0.0 - 1.6 1.3 0.4 1.4 1.4 0.9 6.8 5.9 0.0 1.2 1.6 1.0 0.8 0.9 0.4 0.4 0.7 0.5 1.4 1.2 1.0 1.6 1.3 0.4 7.4 20.1 -36.1 33.5 28.8 -54.1 -11.4 6.0 -15.4 -23.8 37.9 -61.1 11.0 -3.4 -44.8 66.9 31.2 -96.1 -19.7 7.6 -36.9 -5.5 9.7 -33.3 -2.5 28.5 -29.6 70.5 -3.8 -9.9 -23.2 40.0 -61.3 Jul-16 Aug-16 Sep-16 3.9 10.8 8.0 1.1 6.9 3.7 2.5 3.3 3.7 0.0 0.3 0.6 0.6 0.5 0.8 0.8 0.1 5.2 2.0 0.5 0.7 0.8 0.2 0.4 0.5 0.3 0.9 0.4 0.5 0.4 0.6 0.3 0.6 0.6 -31.8 -20.8 -35.6 -36.3 -13.5 -50.4 -32.3 -28.1 -8.2 4.1 -45.1 -36.6 -49.1 -39.9 -48.7 {...} -10.1 -60.9 -24.9 -37.0 -30.0 -30.0 -30.9 -15.7 -37.4 37.8 -30.7 72.3 -50.1 -37.0 4.1 -43.3 -36.3 Oct-16 Nov-16 Dec-16 18.5 11.2 13.0 11.9 5.1 7.6 5.0 4.4 4.3 0.1 0.2 0.2 1.4 1.5 0.8 1.7 1.4 0.8 9.3 3.0 6.0 1.2 1.1 0.9 0.5 0.6 0.6 0.6 0.3 0.5 1.3 1.1 1.1 1.4 1.4 0.8 99.7 -26.4 40.3 363.0 -35.1 223.0 4.6 -17.7 -18.8 -24.8 -22.8 -46.8 3.4 -12.8 -46.9 {...} -43.9 {...} 8.9 -16.3 -18.9 -26.2 -4.0 -19.4 36.8 -58.1 46.0 41.3 8.3 59.6 -24.8 -21.7 -45.8 Jan-17 Feb-17 Mar-17 23.7 19.5 10.8 18.1 12.8 3.9 4.4 5.4 5.6 0.2 0.1 0.1 1.1 1.2 1.2 0.8 0.5 0.7 16.3 10.1 2.0 1.0 0.9 1.3 0.5 0.6 0.4 0.2 0.9 0.6 1.0 1.1 1.3 1.1 1.2 1.2 104.1 47.5 -3.2 229.1 84.4 -1.6 -12.3 7.8 4.6 -4.2 -5.7 -32.9 -47.9 -59.7 -51.9 403.6 107.3 31.9 -17.6 -6.3 10.0 -23.9 -13.6 -43.7 -61.5 247.8 32.1 -6.1 -5.3 0.0 -2.2 -3.0 -32.5 Apr-17 May-17 Jun-17 13.5 21.2 16.9 6.2 14.7 12.5 5.9 5.4 4.0 0.0 0.0 - 1.3 1.1 0.4 0.6 0.4 0.5 4.6 13.3 11.2 1.3 1.2 1.1 0.5 0.6 0.3 0.8 0.8 0.1 1.5 0.9 1.1 1.3 1.0 0.4 -14.5 29.9 175.8 -31.1 61.2 681.6 15.9 -8.2 -2.9 -18.9 -18.8 -3.7 -58.0 -69.0 -49.4 -33.1 125.6 {...} 4.3 -25.2 13.8 -31.3 -32.3 -21.0 81.2 16.6 -69.3 2.8 -22.6 8.3 -18.8 -18.2 -2.6 Jul-17 Aug-17 Sep-17 12.0 15.2 8.7 6.3 7.8 3.7 4.9 6.6 4.2 0.0 0.0 0.7 0.9 0.8 0.5 0.8 0.4 5.1 6.1 2.6 1.0 1.0 0.7 0.4 0.4 0.2 0.6 1.6 1.0 1.3 1.4 0.9 0.6 0.8 0.8 210.3 40.6 8.3 481.1 11.6 -1.1 97.9 99.1 14.0 149.5 53.0 32.1 -5.1 -9.5 -53.7 {...} 17.5 31.9 108.4 39.8 -4.6 100.5 -1.1 -54.9 80.5 69.1 128.6 166.8 256.1 64.0 128.1 44.1 33.4 Oct-17 Nov-17 Dec-17 14.6 18.1 25.3 6.0 9.4 16.7 7.0 6.2 6.3 0.0 0.1 0.1 1.6 2.2 2.2 0.8 1.0 0.6 4.1 6.4 15.1 1.3 1.9 1.3 0.6 0.6 0.7 1.7 1.9 1.3 1.3 0.9 1.6 1.6 1.8 2.1 -20.9 61.6 94.8 -49.8 83.9 118.4 39.5 39.4 45.0 13.6 53.5 170.4 -55.7 -27.5 -32.0 -55.7 109.3 152.7 5.3 68.3 45.2 13.4 0.6 18.2 177.7 613.2 176.2 2.2 -16.5 36.6 13.3 28.6 170.3 Jan - Dec Jan - Dec 139.6 199.4 72.6 118.1 53.7 65.9 0.6 0.7 12.6 14.6 14.2 7.5 48.0 97.0 12.3 13.9 6.9 5.8 5.8 11.4 12.2 14.3 12.4 13.9 -3.2 42.9 5.2 62.6 -9.7 22.6 -17.0 15.5 -17.7 -47.1 31.1 101.9 -18.9 13.2 -14.9 -16.1 -30.4 97.4 21.6 17.7 -15.7 12.4 2016 2017 2016 2017 Source: Maldives Customs Service Note: Data available up to December 2017. 49 | Monthly Statistics - April 2018
  53. External Sector Table 13 .5 Direction of Trade - Imports, 2012 - 2017 (Millions of USD) Total Imports c.i.f. o/w Asia Period (2 to 7) (1) (2) y/y % change Europe Oceania North America South Africa America (3) (4) (5) (6) (7) o/w China India (8) (9) Malaysia Singapore Sri Lanka United Arab Emirates Total Imports c.i.f. Asia Europe North America China India Malaysia Singapore Sri Lanka United Arab Emirates (10) (11) (12) (13) (14) (15) (16) (17) (18) (19) (20) (21) (22) (23) 2012 2013 2014 1,554.3 1,733.4 1,992.5 1,287.8 1,408.5 1,651.4 124.3 192.9 194.4 39.0 45.2 56.9 83.8 57.3 62.0 12.0 20.3 17.4 7.4 9.2 10.5 68.5 81.5 105.1 147.7 154.0 170.6 85.4 85.2 145.1 282.1 281.0 349.5 91.3 101.8 129.6 465.1 491.4 472.8 6.1 11.5 14.9 8.3 9.4 17.2 -16.1 55.2 0.8 21.9 -31.5 8.1 -7.4 19.0 28.9 -0.1 4.3 10.7 7.1 -0.1 70.2 -10.8 -0.4 24.4 11.0 11.5 27.3 45.1 5.7 -3.8 2015 2016 2017 1,896.3 2,125.4 2,360.4 1,528.6 1,738.7 1,915.2 231.9 242.5 270.5 53.9 48.1 65.2 53.5 58.0 71.8 16.2 18.0 20.2 12.2 20.0 17.5 147.3 285.6 280.6 226.5 275.5 287.6 141.9 120.9 174.0 325.1 305.4 318.3 133.2 134.1 154.5 317.0 333.4 434.3 -4.8 12.1 11.1 -7.4 13.7 10.2 19.3 4.6 11.5 -13.8 8.5 23.7 40.2 93.9 -1.7 32.8 21.6 4.4 -2.2 -14.8 43.9 -7.0 -6.1 4.2 2.8 0.7 15.2 -33.0 5.2 30.2 Jan-16 Feb-16 Mar-16 148.5 152.5 182.0 122.9 124.4 152.4 17.0 15.5 18.1 3.1 6.0 3.6 3.3 4.9 4.5 1.3 0.8 1.9 0.9 0.9 1.4 11.9 20.1 33.6 21.3 22.0 21.0 7.5 10.9 9.6 26.3 23.1 24.5 11.1 11.4 12.6 22.2 17.1 31.7 -14.7 0.2 8.8 0.9 4.0 15.6 -60.3 -26.7 -21.1 13.4 76.0 -37.2 -40.7 84.5 217.3 53.1 24.3 8.0 -51.4 -27.7 16.7 23.5 -2.4 -11.9 5.1 20.2 13.6 -3.8 -42.8 28.5 Apr-16 May-16 Jun-16 186.9 209.0 173.2 159.7 176.6 144.4 16.8 21.7 17.2 3.7 3.9 3.4 3.7 3.9 4.4 1.2 1.7 1.8 1.8 1.2 2.0 30.2 52.5 21.9 35.9 20.2 19.9 9.4 10.0 11.2 25.1 32.7 26.7 10.3 11.8 11.0 21.5 29.7 28.1 27.4 36.6 19.6 27.8 38.7 16.8 42.6 67.3 53.6 46.2 23.3 45.9 345.9 293.4 66.7 63.4 20.2 3.9 4.1 7.1 10.7 -20.9 26.6 1.1 22.7 3.6 4.4 -19.5 12.2 9.0 Jul-16 Aug-16 Sep-16 157.3 172.7 170.4 122.8 142.4 132.3 20.6 18.4 25.1 3.7 4.1 3.7 7.6 3.6 5.7 0.8 2.3 1.3 1.8 1.9 2.3 12.6 20.7 22.6 18.4 23.8 21.5 8.4 10.8 8.3 26.4 22.5 24.1 11.1 11.7 8.8 21.4 30.0 22.2 2.1 4.6 11.5 -5.6 2.8 6.4 71.3 17.0 42.9 36.8 55.0 127.3 -18.1 46.7 135.7 -0.6 29.9 9.6 -20.3 -35.1 -47.1 -26.5 -17.9 2.6 5.1 -17.7 -22.3 -0.7 6.5 -17.8 Oct-16 Nov-16 Dec-16 173.0 190.6 209.3 140.7 151.0 169.2 18.2 26.8 27.1 3.5 4.2 5.1 6.8 5.3 4.3 1.2 1.6 2.1 2.6 1.6 1.5 16.0 16.8 26.7 24.5 21.8 25.2 10.6 10.0 14.2 23.6 26.6 23.8 11.9 10.3 12.1 30.7 40.9 38.1 9.0 18.6 25.6 13.5 12.7 31.3 -17.6 76.9 2.4 39.5 86.2 -1.9 34.8 55.1 148.7 26.9 10.2 14.5 2.2 -7.7 33.7 -9.3 -11.0 -6.9 4.9 -14.9 -0.5 24.6 24.6 44.4 Jan-17 Feb-17 Mar-17 195.0 187.8 186.7 159.1 149.3 150.0 22.4 26.3 18.6 4.7 4.9 4.7 4.6 4.6 11.1 1.7 1.9 1.3 2.4 0.9 0.9 21.6 32.8 12.7 21.9 22.6 23.4 13.1 11.3 13.4 25.3 23.0 27.0 19.4 12.0 13.5 35.6 29.8 37.0 31.3 23.2 2.6 29.5 20.0 -1.6 31.6 70.0 2.7 37.9 -5.5 145.3 82.1 62.8 -62.1 2.8 2.8 11.6 73.4 4.4 38.9 -3.5 -0.1 10.4 74.3 5.3 6.5 60.3 74.4 16.6 Apr-17 May-17 Jun-17 201.2 217.1 184.6 161.5 178.3 152.7 27.5 25.6 17.4 4.6 5.8 6.6 5.0 4.7 5.7 1.5 1.4 1.2 1.3 1.2 0.9 20.3 34.4 23.7 32.9 22.2 20.7 12.7 17.6 11.2 24.0 27.5 31.8 10.7 11.4 11.9 41.7 40.6 34.1 7.7 3.9 6.6 1.1 1.0 5.7 63.5 18.1 1.4 35.5 -1.4 30.1 -32.9 -34.6 7.9 -8.4 9.6 3.8 34.3 76.0 -0.5 -4.4 -15.9 19.1 4.2 -2.9 8.0 93.8 37.0 21.4 Jul-17 Aug-17 Sep-17 187.1 194.9 191.2 150.9 166.0 155.8 22.2 16.8 19.4 5.6 4.5 6.1 4.9 4.2 6.9 2.1 1.3 1.5 1.4 2.2 1.6 26.5 26.4 23.1 22.7 23.5 24.2 16.8 20.9 11.8 22.3 22.2 24.2 11.9 12.8 10.9 27.1 36.8 41.6 18.9 12.9 12.2 22.9 16.6 17.7 7.8 -9.1 -22.7 -35.3 13.5 20.8 110.5 27.6 2.5 23.5 -1.3 12.5 101.4 94.5 41.6 -15.6 -1.3 0.3 7.9 9.4 23.1 26.9 22.7 87.4 Oct-17 Nov-17 Dec-17 200.9 194.0 219.8 168.5 156.2 166.9 18.3 24.2 31.8 6.1 5.5 6.1 4.5 4.5 11.2 1.9 1.8 2.6 1.5 1.8 1.3 22.2 15.9 21.0 25.4 25.6 22.5 15.5 10.7 18.9 30.8 25.9 34.1 12.3 14.9 12.7 34.8 44.2 31.1 16.1 1.8 5.1 19.8 3.5 -1.4 0.8 -9.9 17.4 -34.4 11.8 161.2 39.2 -5.5 -21.4 3.8 17.4 -10.5 46.5 7.7 33.8 30.6 -2.9 43.6 3.9 44.4 5.0 13.4 8.1 -18.5 Jan - Dec Jan - Dec 2,125.4 2,360.4 1,738.7 1,915.2 242.5 270.5 48.1 65.2 58.0 71.8 18.0 20.2 20.0 17.5 285.6 280.6 275.5 287.6 120.9 174.0 305.4 318.3 134.1 154.5 333.4 434.3 12.1 11.1 13.7 10.2 4.6 11.5 8.5 23.7 93.9 -1.7 21.6 4.4 -14.8 43.9 -6.1 4.2 0.7 15.2 5.2 30.2 2016 2017 2016 2017 Source: Maldives Customs Service Note: Data available up to December 2017. Monthly Statistics - April 2018 | 50
  54. External Sector Table 14 External Debt and Debt Service , 2011 - 2017 ¹⁄ (Millions of USD) Total external debt outstanding 2/ Central government debt disbursed and debt service Period Loans Debt securities 3/ (2+8) (1) ( 3 to 7) (2) Disbursements 5/ Other depository corporations 4/ Central government Multilateral Bilateral Debt service Principal repayments Loans Commercial Bank Buyers credit (3) (4) (5) (6) (7) ( 9 + 10) (8) Head offices & branches Non resident ODC (9) (10) (11) (13 + 14) (12) Interest payments External debt outstanding as a % of GDP 6/ Total external Central debt government outstanding (13) (14) (15) (16) Other Depository corporations (17) Debt service ratio (central government) (12/35) (18) 2011 2012 2013 895.7 814.4 792.2 671.6 721.0 747.4 - 312.0 329.4 323.7 214.2 232.5 216.6 21.7 13.0 7.5 123.7 146.1 199.6 224.1 93.4 44.8 219.0 90.8 43.0 5.1 2.6 1.8 129.9 111.5 77.1 64.2 73.5 61.2 55.2 63.4 52.5 9.0 10.1 8.7 32.2 28.3 24.1 24.2 25.1 22.8 8.1 3.2 1.4 2.6 3.0 2.1 2014 2015 2016 744.2 696.2 848.8 698.0 662.2 763.9 - 292.8 268.7 254.5 189.9 169.3 142.7 31.9 24.5 18.6 183.4 199.7 348.1 46.2 34.0 84.9 25.9 34.0 75.6 20.3 9.3 49.0 55.5 190.2 77.3 72.4 81.4 64.7 62.3 70.3 12.6 10.1 11.1 20.2 17.4 20.2 18.9 16.6 18.1 1.3 0.9 2.0 2.3 2.3 2.6 2017 1,188.2 1,080.2 274.5 122.1 12.7 420.9 108.1 61.9 46.2 348.2 86.9 65.1 21.8 25.6 23.2 2.3 2.5 Total external debt outstanding Central government 250.0 Memorandum items y/y % change Period (19) (20) Debt securities (21) Multilateral Bilateral Commercial Bank Buyers credit Other depository corporations Head offices & branches Non resident ODC Disbursements Central government debt disbursed and debt service Debt service Principal repayments Interest payments Nominal GDP at market prices (millions of USD) 7/ Exchange rate 8/ (22) (23) (24) (25) (26) (27) (28) (29) (30) (31) (32) (33) (34) Exports of goods and services (35) 2011 2012 2013 -5.7 -9.1 -2.7 9.4 7.4 3.7 na na na 0.4 5.6 -1.7 19.5 8.5 -6.8 -31.5 -40.2 -42.1 34.0 18.1 36.6 -33.3 -58.3 -52.1 -30.7 -58.5 -52.6 -74.3 -48.2 -33.0 -8.2 -14.2 -30.8 25.9 14.5 -16.7 30.0 15.0 -17.2 5.6 11.5 -13.5 2,780.4 2,875.8 3,283.6 15.41 15.37 15.41 2,444.8 2,485.9 2,907.9 2014 2015 2016 -6.1 -6.5 21.9 -6.6 -5.1 15.4 na na na -9.5 -8.2 -5.3 -12.3 -10.9 -15.7 325.3 -23.2 -24.0 -8.1 8.9 74.3 3.2 -26.4 149.7 -39.9 31.4 122.3 {...} -100.0 na -36.5 13.4 242.5 26.3 -6.3 12.4 23.2 -3.7 12.8 44.9 -20.0 10.3 3,687.9 3,992.6 4,210.1 15.40 15.41 15.35 3,299.2 3,145.1 3,147.6 2017 40.0 41.4 na 7.8 -14.5 -31.6 20.9 27.3 -18.1 395.0 83.1 6.8 -7.4 96.4 4,648.3 15.41 3,468.0 Source: Ministry of Finance & Treasury, Maldives Monetary Authority, National Bureau of Statistics. 1/ Figures represent data available as at 29th March 2018. This includes external debt of central government and other depository corporations (commercial banks) only. This refers to government sovereign bond issued to international market. 4/ This refers to resident commercial banks foreign borrowings. 5/ This refers to debt securities and loans disbursements. 6/ External debt as percentage of GDP is calculated using rebased GDP figures. 7/ GDP has been rebased to base year 2014 in November 2017. 8/ Exchange rate applied as per the rates used by Ministry of Finance & Treasury. 2/ 3/ 51 | Monthly Statistics - April 2018
  55. External Sector Table 15 . Exchange Rates, 2012 - 2018 (MVR per foreign currency; end of period mid rate) Currency US dollar (1) Japanese yen Singapore dollar (2) (3) Indian rupee (4) y/y % change Sri Lankan rupee (5) Sterling pound (6) Euro (7) US dollar Japanese yen (8) (9) Singapore dollar Indian rupee Memorandum Items Sri Lankan rupee Sterling pound Euro (10) (11) (12) (13) (14) MVR/SDR (end of period) (15) USD/SDR (end of period) (16) 2012 2013 2014 15.3700 15.4100 15.4000 0.1785 0.1462 0.1278 12.4758 12.0466 11.5661 0.2825 0.2491 0.2425 0.1209 0.1176 0.1172 24.6595 25.2298 23.8169 20.1550 21.0160 18.6308 -0.3 0.3 -0.1 -10.1 -18.1 -12.6 5.7 -3.4 -4.0 -2.9 -11.8 -2.7 -10.6 -2.7 -0.4 3.6 2.3 -5.6 2.1 4.3 -11.3 23.6225 23.7314 22.3117 1.5369 1.5400 1.4488 2015 2016 2017 15.4100 15.3500 15.4100 0.1288 0.1313 0.1358 10.8079 10.4518 11.4203 0.2315 0.2260 0.2392 0.1070 0.1029 0.1043 22.6893 18.7847 20.4903 16.7015 15.9899 18.1140 0.1 -0.4 0.4 0.8 1.9 3.5 -6.6 -3.3 9.3 -4.5 -2.4 5.9 -8.7 -3.8 1.3 -4.7 -17.2 9.1 -10.4 -4.3 13.3 21.3541 20.6355 21.9458 1.3857 1.3443 1.4241 Apr-16 May-16 Jun-16 15.3100 15.4100 15.3800 0.1384 0.1387 0.1506 11.3502 11.0936 11.3389 0.2312 0.2282 0.2268 0.1055 0.1044 0.1056 22.2417 22.4800 20.4942 17.3304 17.0330 16.9707 -0.4 0.3 -0.2 6.9 11.7 20.1 -2.0 -2.2 -0.2 -5.2 -5.5 -6.1 -8.4 -8.7 -7.9 -5.2 -3.9 -14.9 3.4 1.5 -0.9 21.6993 21.6184 21.5142 1.4173 1.4029 1.3988 Jul-16 Aug-16 Sep-16 15.4100 15.3800 15.3700 0.1472 0.1495 0.1514 11.3931 11.2232 11.2451 0.2296 0.2284 0.2315 0.1057 0.1059 0.1054 20.2483 20.0479 19.9251 17.0851 17.0471 17.1619 0.2 0.3 -0.1 18.6 16.6 17.8 2.0 2.9 4.8 -4.8 -2.3 -1.1 -8.1 -7.6 -3.5 -15.2 -15.4 -14.1 1.9 -1.7 -0.2 21.4720 21.4449 21.4536 1.3934 1.3943 1.3958 Oct-16 Nov-16 Dec-16 15.3500 15.4100 15.3500 0.1462 0.1366 0.1313 10.9860 10.7258 10.4518 0.2302 0.2238 0.2260 0.1043 0.1037 0.1029 18.6364 18.9654 18.7847 16.7629 16.1890 15.9899 0.4 0.5 -0.4 14.4 8.4 1.9 0.7 -0.9 -3.3 1.2 -2.6 -2.4 -4.4 -4.1 -3.8 -20.2 -17.5 -17.2 0.5 0.0 -4.3 21.0886 20.8614 20.6355 1.3739 1.3538 1.3443 Jan-17 Feb-17 Mar-17 15.4200 15.4100 15.3900 0.1335 0.1367 0.1391 10.6786 10.8881 10.9588 0.2258 0.2304 0.2376 0.1018 0.1011 0.1009 19.0271 19.0042 19.0199 16.3548 16.1724 16.4265 0.5 0.5 0.3 2.1 0.3 1.6 -0.1 0.3 -3.0 -0.1 2.8 2.8 -4.9 -5.1 -2.6 -12.7 -10.3 -13.2 -1.7 -3.1 -5.0 20.9532 20.8634 20.8819 1.3588 1.3539 1.3568 Apr-17 May-17 Jun-17 15.3900 15.4000 15.3800 0.1391 0.1358 0.1363 10.9662 11.0526 11.0429 0.2411 0.2369 0.2385 0.1011 0.1014 0.0995 19.6793 19.6108 19.4880 16.6705 17.0626 17.0811 0.5 -0.1 - 0.5 -2.1 -9.5 -3.4 -0.4 -2.6 4.3 3.8 5.2 -4.2 -2.8 -5.7 -11.5 -12.8 -4.9 -3.8 0.2 0.7 21.1000 21.3185 21.3996 1.3710 1.3843 1.3914 Jul-17 Aug-17 Sep-17 15.4000 15.4200 15.4100 0.1394 0.1386 0.1362 11.2506 11.2901 11.2465 0.2392 0.2396 0.2334 0.1035 0.1041 0.1038 19.9483 19.7439 20.4362 17.9044 18.2129 17.8421 -0.1 0.3 0.3 -5.3 -7.3 -10.0 -1.3 0.6 0.0 4.2 4.9 0.8 -2.0 -1.7 -1.5 -1.5 -1.5 2.6 4.8 6.8 4.0 21.6794 21.7945 21.7790 1.4078 1.4134 1.4133 Oct-17 Nov-17 Dec-17 15.4200 15.4000 15.4100 0.1358 0.1379 0.1358 11.2366 11.3623 11.4203 0.2364 0.2379 0.2392 0.1035 0.1034 0.1043 20.1583 20.4062 20.4903 17.6916 18.0197 18.1140 0.5 -0.1 0.4 -7.1 1.0 3.5 2.3 5.9 9.3 2.7 6.3 5.9 -0.8 -0.3 1.3 8.2 7.6 9.1 5.5 11.3 13.3 21.6603 21.7975 21.9458 1.4047 1.4154 1.4241 Jan-18 Feb-18 Mar-18 15.4000 15.4000 15.4100 0.1410 0.1431 0.1439 11.6729 11.5316 11.6612 0.2408 0.2362 0.2353 0.1033 0.1026 0.1021 21.6385 21.2206 21.5014 18.8995 18.5832 18.7446 -0.1 -0.1 0.1 5.6 4.7 3.4 9.3 5.9 6.4 6.6 2.5 -1.0 1.4 1.5 1.2 13.7 11.7 13.0 15.6 14.9 14.1 22.4396 22.2667 22.4040 1.4571 1.4459 1.4539 2016 2017 2018 Source: Maldives Monetary Authority, Bank of Maldives Plc, IMF website Monthly Statistics - April 2018 | 52
  56. Explanatory Notes on Monetary and Financial Statistics I . General information Methodology As of January 2007, monetary and financial statistics are compiled on a monthly basis, in accordance with the International Monetary Fund, the IMF "guide in money and banking statistics in international financial statistics" (December 1984). Beginning February 2007 data are compiled in accordance with the methodological framework that was described in the monetary and financial statistics manual (MFSM-2000). Maldives, who, along with all other persons shall be considered “nonresidents”. Deposit classification: Deposits which can be withdrawn or are transferable on demand and without notice to the account holding depository institution, at face value and without penalty or other restriction by check, draft, direct debit/credit, automatic teller machine, or other direct payment facilities are classified as transferable deposits. All interest bearing deposits without a stated maturity which are not transferable by check, draft, direct debit/credit, automatic teller machine or other direct payment facilities and all deposits on which interest is paid Key important concepts in MFSM-2000 for a fixed period of time and which cannot be withdrawn before maturity Residency: The delineation between residence institutional units and classified as other deposits. non-residence units is a key feature recommended in the monetary and financial statistics manual. The key concept for defining the residency of without giving notice and incurring an early withdrawal penalty are II. Institutional coverage an economic unit is its centre of economic interest. Central Bank (CB): Domestic or resident - includes all individuals and legal entities with a Consists of the Maldives Monetary Authority (MMA) only. center of economic interest in the republic of Maldives. Generally, a resident includes: 1. Any individual who has physically resided or is expected to physically reside in the republic of Maldives for one year or more; and 2. Legal entities (corporations, partnerships, joint ventures, etc.) With a location (i.e. Dwelling, place of production, or other premises) within the republic of Maldives from which it engages, and is expected to continue to engage, in business activities for at least the next year. The terms specifically exclude all foreign government embassies, consulates and their staff physically located/residing in the republic of Beginning December 2001 central bank data are based on a standardized report form (SRF), which generally accords with the concepts and definitions of the IMF’s monetary and financial statistics manual (MFSM), 2000. Financial assets and liabilities denominated in foreign currency are converted to national currency units at MMA daily reference exchange rate, which is the mid-point of the weighted average buying and selling rates of all commercial banks.
  57. Securities other than shares issued by the MMA and holdings of central Financial assets and liabilities for which economic sectorisation is government bills are valued at acquisition cost or face value rather than unavailable are allocated to the economic sector having the largest at current market price or fair value . volume of transactions in the category. Other Depository Corporations (ODC): Accrued interest is included in other items (net) rather than in the Consist of all commercial banks that are operating in Maldives. Beginning in January 2005, includes the government-owned Housing Development Finance Corporation (HDFC) are classified as ODC. With effect from September 2007, the HDFC was reclassified as other financial corporation as the corporation no longer issues short-term liabilities to money holding sectors. Data exclude banks in liquidation. Beginning in February 2007, data are based on a standardized report form (SRF) for other depository corporations, which accords with the concepts and definitions of the Monetary and Financial Statistics Manual (MFSM). For other depository corporations in Maldives, departures from the MFSM methodology are explained below. Financial assets and liabilities for which economic sectorisation is unavailable are allocated to the economic sector having the largest volume of transactions in the category. outstanding amounts of the financial assets and liabilities. Depository Corporations (DC): Refer to section 2 (notes on central banks and other depository corporations.) Other Financial Corporations (OFC): Finance companies Comprises the Maldives Finance Leasing Company (MFLC), Housing Development Finance Corporation (HDFC), insurance companies (Allied insurance company private limited, Ceylinco Insurance Company private limited, Sri Lankan insurance company, Amana Takaful (Maldives) Plc.), Solarelle Insurance Pvt Ltd, Dhivehi Insurance Company Pvt Ltd and pension fund (Maldives pension administration office) . Beginning in January 2004 balance sheet data in new Call Report Form (CRF) is collected from finance companies which accords with the concepts and definitions of IMF’s MFSM. Beginning from September Held-to-maturity securities are valued at acquisition cost rather than at 2007 HDFC was reclassified as other financial corporation as they no current market price or fair value. Holdings of equity shares not traded in longer issued short-term liabilities to money holding sectors. active markets are valued at acquisition cost rather than at current market price or fair value. For December 2001 through January 2007, data in the SRF format are compiled from pre-SRF data not based on the MFSM methodology. Departures from the MFSM methodology are explained below. Insurance companies Since March 2007, quarterly balance sheet data have been collected from insurance companies in pre-SRF formats until September 2012. Beginning from March 2012, Sri Lankan insurance company has been excluded from OFC coverage due to withdrawal of their license and since September 2010 onwards, Amana Takaful (Maldives) Plc. was included
  58. in OFC coverage . Since September 2016 Solarelle Insurance Pvt Ltd was included in OFC coverage while Dhivehi Insurance Company Pvt Ltd was included in OFC coverage since October 2016. Money (national definitions): Reserve Money (M0): Comprises currency in circulation, transferable deposits of banks and public nonfinancial corporations with the MMA in For March 2007 through November 2012, data of OFC are compiled from national and foreign currency, and securities issued by the MMA held by pre-SRF data, which was not based on the MFSM methodology. public nonfinancial corporations. Currency in circulation refers to notes Departures from the MFSM methodology are explained below. and coins issued by the MMA less the cash in the vault of the MMA. Banks Financial assets and liabilities for which economic sectorisation is unavailable are allocated to the economic sector having the largest volume of transactions in the category. New SRF was reported from insurance companies from December 2012 through May 2013 on a quarterly basis. Whilst, beginning from June 2013 onwards insurance companies submitted monthly balance sheets based on SRF. deposits comprise minimum required reserves and other settlement balances with the MMA in national and foreign currency. Narrow money With the commencement of Maldives pension act on 13 may 2009, MPAO was established for administering Maldives retirement pension scheme as a defined contribution pension scheme that is fully funded by the contributions of employers and employees. Beginning in 2010 MPAO has become functional and since December 2010 onwards MPAO data based on SRF has been included in the OFC coverage. III. Monetary aggregates Broad money: Broad money calculated from the liability data in the sections for the central bank and other depository corporations’ accords with the concepts and definitions of the MFSM and is consistent with m2 described below. Comprises currency outside depository corporations, demand deposits of public nonfinancial corporations with the MMA in national currency, and demand deposits of public nonfinancial corporations, other financial corporations, and private sector with commercial banks in national currency. Quasi money: Pension funds (m1): Comprises demand deposits of public nonfinancial corporations with the MMA in foreign currency, and demand deposits of money holding sectors (public nonfinancial corporations, other financial corporations, and private sector) with commercial banks in foreign currency and savings and time deposits of money holding sectors with commercial banks in national and foreign currency. It includes securities issued by the MMA held by public nonfinancial corporations. For January 2005 through august 2007, includes short-term securities issued by the HDFC. Broad money (m2): Comprises narrow money and quasi money.
  59. Explanatory notes on Financial Soundness Indicators I . General information banking and other financial subsidiaries, investments in the capital of other banks, financial institutions licensed to do business in the Maldives, and loans or investments of a capital nature. Total regulatory capital is Methodology used as a numerator to calculate total regulatory capital to risk weighted Financial soundness indicators (FSIs) are aimed at analyzing the current loans net of provision to capital and net open position in foreign exchange financial health and soundness of the financial institutions in a country, to capital. and of their corporate and household counterparts. The FSIs are calculated in accordance with the IMF Financial Soundness Indicators: assets ratio and as a denominator to calculate the ratios nonperforming Regulatory tier1 capital is defined as core capital which includes Compilation Guide (IMF 2006). permanent shareholders' equity, disclosed reserves, minority interests in The indicators are compiled using data reported to the MMA by deposit assets, loan loss provisions and all other asset revaluation reserves, takers (commercial banks). The regulatory framework is in accordance future income tax benefits, losses carried forward, encumbered assets, with Maldives Banking Act (2010). In addition, the indicators complies and net amounts due from Head office and branches in the case of with the guidelines of either Basel I or Basel II, represents full intra-group foreign bank branches and subsidiaries operating in the Maldives. adjustments, valuation complies with IAS 39, time of recording and exchange rates complies with IAS 21. II. Main indicators The indicators in the publication represent the main components of the the equity of consolidated subsidiaries, less goodwill and other intangible Risk weighted assets are defined as bank's on-balance sheet assets and off-balance-sheet exposures that are risk weighted as per the requirements of financial returns of MMA in compliance with regulation on capital adequacy 2015/R-166. FSIs system, which are the core set of FSIs for deposit-taking Loan provisions are defined as balance sheet account established corporations (12 indicators) and 2 encouraged FSIs to deposit takers through charges to 'provisions expense' in the income statement and (capital to assets and large exposures to capital) calculated and against which uncollectible loans or portions thereof are written-off. published by the MMA on a quarterly basis. Core set of FSIs include capital adequacy ratios, asset quality ratios, earnings and profitability ratios, liquidity ratios and sensitivity to market risk ratio III. Key aspects Capital adequacy Total regulatory capital is defined as capital base which includes Tier 1 capital and Tier 2 capital less investments in and loans to unconsolidated Nonperforming loans net of provisions are loans no longer generating income which is (nonperforming loans) less provisions. Asset quality Nonperforming loans are loans or advances where any portion of principal and interest is due and unpaid for 90 days or more; or interest
  60. payments for 90 days or more have been capitalized , re-financed, or Explanatory Notes on External Sector rolled-over into a new loan. Total gross loans refer to gross loans value (including nonperforming 1. External Reserves loans) as reported on the balance sheet. Gross International Reserves (GIR): GIR is the total Foreign Currency (FC) reserves held at MMA. Earnings and profitability Usable Reserves: Usable reserve is the amount of funds from GIR that is Total capital and reserves refers to Capital base as reported in the available for foreign exchange intervention. It is calculated by deducting financial returns of MMA. It is used as a denominator for return on equity. the short term foreign liabilities from GIR where the short-term foreign liabilities mainly comprise of FC deposits of commercial banks at MMA. Return on assets is calculated by dividing net income before extraordinary items and taxes by total assets. Net income before extraordinary items and taxes refers to Net Operating profit before extraordinary items and taxes. 2. Balance of Payments Interest margin refer to net interest earnings: interest income less I. interest expenses. Noninterest expenses refer to administrative expenses. Liquidity Liquid assets are defined as those assets that can be converted into cash quickly without a significant loss in value. Short term liabilities are the short-term element of deposit takers’ debt liabilities. General Information The Balance of Payments (BOP) is a statistical statement that systematically summarizes economic transactions of residents of the Maldives with the rest of the world for a specific period of time. From January 2017 onwards MMA started disseminating BOP statistics based on the Sixth Edition of the Balance of Payment and International Investment Position Manual (BPM6) methodologies of the International Monetary Fund (IMF). II. Current Account Balance on Goods Exports Exports consists of two parts; domestic exports and re-exports. This information is collected from the Maldives Customs Service (MCS) and
  61. international airports operating in the Maldives . Re-exports is mainly jet airports in Maldives, other administrative records and estimates made by fuel sold to foreign carriers. MMA. For the years 2011 to 2016, actual data from MCS and international Import: Transportation Services airports is used while projections for 2017 is based on past trend. Reexports are projected based on tourist arrival, and the estimated average prices of petroleum products imported to Maldives. Imports Imports consists of all merchandise imports into the country recorded by the MCS. For 2011 to 2016, actual data from the MCS is used. Some adjustments are made for valuation and coverage and hence it is not comparable with the trade statistics (Tables 13.1 to 13.5). The major component in this category is freight charges on imports. This data is collected from MCS. It also includes payments made for use of foreign sea ports and purchase of air tickets from non-resident airlines. Payment made for air tickets is estimated by MMA based on information collected from Maldivian Travelling Abroad (MTA) Survey, conducted annually. Travel: Credit Total travel receipt is estimated by MMA based on Tourism Goods and For 2017 import of major items (such as food & beverage, and petroleum Services Tax (TGST), Green Tax and Airport Development Fee (ADF) products) are forecasted based on corresponding price and volume collected by Maldives Inland Revenue Authority (MIRA). It also includes index. Prices are based on commodity prices forecasts by the IMF and revenue received from duty-free shops at Velaana International Airport. the implicit price of petroleum products imported to Maldives while volume is based on tourist arrival growth. Imports of other items are forecasted based on past trends. Balance on Services Export: Transportation Services The major components in this section are:  Earnings of resident airlines from sale of ticket to non-residents on international routes and  Earnings of international airports in Maldives on handling, navigation, parking and other related charges from foreign airlines. This information is based on data collected from resident airlines operating in Maldives, Maldives Ports Limited (MPL), international Travel: Debit This includes the amount spent by residents for travel. Data is sourced from the annual MTA survey conducted by the MMA and administrative records of government’s foreign payments kept at the MMA. Other services Other components in the services account are receipts and payments made for the following services:  Constructions services  Insurances services  Financial services  Charges for the use of intellectual property
  62.  Telecommunications, computer and information services Balance on Secondary Income  Research and development services The secondary income account shows current transfers between  Professional and management consulting services residents of Maldives with rest of the world. Current transfers include  Technical, trade-related and other business services personal and transfers consisting of:  Personal, cultural and recreational services  Cash grants received to the government  Government goods and services  Workers remittances  Other transfers Estimates for the above are made by MMA based on administrative records of MIRA, surveys conducted by MMA and administrative records Data is obtained from the administrative records kept at MMA and Ministry of Finance and Treasury (MOFT). from various sources. Balance on Primary Income III. Capital Account The primary income account shows income flows between resident of This account includes capital grants received by the government of Maldives, Maldives with rest of the world. This includes: including the transfer of capital assets. It also includes cash grants that are used for capital expenditure. This data is collected from the MOFT. However,  Income on direct investments  Reinvested earnings and undistributed branch profits  Other Investments: Income from investments from 2016 onwards capital transfers are included in secondary income account since total grants data cannot be segregated further. of MMA, government, commercial banks and other sectors The data is based on the annual Foreign Direct Investment (FDI) survey conducted by the MMA, financial statements of foreign direct investment enterprises collected by the MMA from the Ministry of Economic Development, various administrative records and information from Bank of International Settlements (BIS) database. IV. Financial Account The financial account records transactions that involve financial assets and liabilities and that take place between residents and nonresidents. This includes:  Direct investment a category of cross-border investment associated with a resident in one economy having control or a significant degree of influence on the management of an enterprise that is resident in another economy. Generally, a nonresident investor is deemed to have control and significant
  63. influence when they hold 10 percent or more of equity or voting The balance on transactions in net assets and net liabilities is calculated by rights in a company . subtracting net incurrence of liabilities from net acquisition of financial Direct Investment in the Maldives is based on information assets, instead of adding credits and debits. For this reason the net balance collected from the annual Foreign Direct Investment (FDI) survey on the financial account has the opposite sign in BPM6 compared to BPM5 conducted by MMA and the information collected from annual (e.g. a net inflow in the financial account is represented with a minus sign in financial statements of such companies available at Ministry of BPM6, whereas it has a positive sign in BPM5). Economic Development (MED) and administrative records.  Portfolio investment: cross-border transactions and positions involving debt or equity securities, other than those included in direct investment. Information for portfolio investment liabilities is collected from the Coordinated Portfolio Investment Survey (CPIS) database of the International Monetary Fund (IMF).  Other Investment: this covers information on other investment assets and liabilities of monetary authorities, banks and other sectors. These estimates are based on data obtained from the Monetary and Financial Statistics (MFS) database of MMA, administrative records and information of such flows available at the Bank of International Settlements (BIS) database.  Reserves and Related Items: Reserve Assets reflects the change in gross international reserves. Information is sourced from the Monetary and Financial Statistics (MFS) database of MMA. Note on data presentation format With the change in methodology from BPM5 to BPM6, the presentation of financial account is changed from directional principle to assetliability principle. With this change, the categories of flows has been changed to “net acquisition of financial assets” and “net incurrence of liabilities”.
  64. MALDIVES MONETARY AUTHORITY Boduthakurufaanu Magu Male ’ - 20182 Republic of Maldives Tel: (960) 3312343 Fax: (960) 3323862 Email: mail@mma.gov.mv Website: www.mma.gov.mv