Maldives' US dollar revenue falls by $23.4 million in September

Government revenue collected in US dollars declined by USD 23.4 million in September 2026 compared with the same month last year, according to figures released by the Maldives Inland Revenue Authority (MIRA).

MIRA's monthly revenue statistics show that the government collected USD 127 million in September, compared with approximately USD 150 million during the corresponding month in 2025.

The figures indicate that the decline was largely driven by lower collections from resort lease extension fees, alongside reductions in departure tax and Airport Development Fee (ADF) revenue.

Revenue from departure tax, collected from passengers leaving the Maldives, fell by USD 1.7 million compared with September last year.

Collections from the Airport Development Fee, which is also levied on departing passengers, declined by USD 1.8 million over the same period.

The largest reduction was recorded in revenue from extensions of resort island leases. Collections under this category fell by USD 32.6 million compared with September 2025.

The reduction in lease extension payments was a major contributor to the decline in dollar-denominated government revenue during the month.

Despite the year-on-year decline in September, cumulative US dollar revenue collected during the first nine months of 2026 remained higher than in the corresponding period last year.

According to MIRA, dollar-denominated revenue reached USD 1.2 billion between January and September 2026, representing an increase of USD 63.7 million compared with the same period in 2025.

The figures show that although dollar collections declined in September, revenue accumulated during the year remained above the previous year's level.