Maldivian government collected more than USD 976 million in revenue during the first seven months of the year, an 8.73 percent increase from the same period in 2025, according to the latest figures from the Maldives Inland Revenue Authority (MIRA).

MIRA's July revenue report shows that total state revenue reached MVR 22.7 billion between January and July, compared with MVR 20.4 billion recorded during the corresponding period last year.

Tax revenue accounted for MVR 18.4 billion of the total, including MVR 6.77 billion and USD 756 million.

Tourism Goods and Services Tax (TGST) was the largest contributor, generating USD 486 million during the seven-month period.

Non-tax revenue amounted to MVR 4.32 billion, including USD 220 million.

The Airport Development Fee was the leading source of non-tax Dollar revenue, generating USD 78.9 million.

The increase in U.S. Dollar-denominated revenue comes amid heightened pressure in the country's foreign exchange market.

The black-market U.S. Dollar rate recently reached MVR 22, significantly above the official banking rate of MVR 15.42.

The widening gap between official and unofficial exchange rates has created additional challenges for businesses that rely on imports, contributing to higher costs for goods in the domestic market.

Despite the sharp increase in the unofficial dollar rate, the government has attributed the recent rise primarily to market speculation.

The latest revenue figures indicate continued growth in government collections, with tourism-related taxes remaining a major source of foreign currency and overall state income.