Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about The Maldives economic outlook, debt to GDP ratio, international trade performance and population trends.
Basic Information
Government Type: Presidential republic
Capital City: Male
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank | Maldives Monetary Authority |
---|---|
Currency | Rufiyaa (MVR) |
International Reserves | USD 0.7 billion (2018 estimate) |
Gross Domestic Product – GDP | USD 5.3 billion (2018 estimate) |
GDP (Purchasing Power Parity) | Intl$ 8.0 billion (2018 estimate) |
GDP Data
Real GDP growth |
2014 7.3% 2015 2.9% 2016 7.3% 2017* 6.9% 2018* 7% *Estimate |
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GDP per capita – current prices | USD 14,500.5 (2018, estimate) |
GDP per capita – PPP | Intl$ 21,759.9 (2018, estimate) |
GDP (PPP) – share of world total | 0.006% (2019, estimate) |
GDP – composition by sector |
agriculture: 5.6% industry: 12.8% services: 67.4% (2017 estimate) |
Gross domestic expenditure on R&D; (% of GDP) | N/A |
Inflation |
2014 1.9% 2015 0.8% 2016 2.3% 2017* 1.4% 2018* 1.5% *Estimate |
The Maldives
Inflation & Debt
Inflation |
2014 1.9% 2015 0.8% 2016 2.3% 2017* 1.4% 2018* 1.5% *Estimate |
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Government Bond Ratings |
Standard & Poor’s: N/A Moody’s : B2 Standard & Poor’s / Moody’s (Updated January 2017) |
Unemployment rate | N/A |
Household saving rates | N/A |
Public debt (General government gross debt as a % of GDP) |
2014 53.3% 2015 59.4% 2016 61.6% 2017* 68% 2018* 70.1% *Estimate |
Public deficit (General government net lending/borrowing as a % of GDP) |
2014 -6.8% 2015 -8.8% 2016 -3.1% 2017* -4.6% 2018* -5% *Estimate |
Market value of publicly traded shares | N/A |
Largest Companies | N/A |
Import/Export
Exports as percent of GDP (Exports of goods and services) | 67.6% (2017) |
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Shares in world total merchandising export | 0.002% (2018) |
Shares in world total commercial services export | 0.06% (2018) |
Total exports | USD 3.6 billion (2018 estimate) |
Export commodities | Fish |
Total imports | USD 4.1 billion (2018 estimate) |
Import commodities | Petroleum products, clothing, intermediate and capital goods |
Exports – major partners | Thailand 42.8%, Sri Lanka 8.7%, Bangladesh 6.4%, France 6.2%, US 6.1%, Germany 5%, Ireland 4.6% (2017) |
Imports – major partners | UAE 17.1%, India 13.5%, Singapore 13.3%, China 10.8%, Sri Lanka 6.7%, Malaysia 6%, Thailand 4.5% (2017) |
Competitiveness & Trade
Current account balance | USD -1.3 billion (2018 estimate) |
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Current account balance by percentage of GDP | -25.3% (2018 estimate) |
FDI inflows |
2016 USD 457 million 2017 USD 493 million 2018 USD 552 million |
FDI Outflows | N/A |
Value of cross-border M&A, by country of purchaser |
N/A United Nations Conference on Trade and Development (UNCTAD) – World Investment Report |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 147 out of 190 countries (2019) Subcategories: Starting a Business: 74 out of 190 countries Dealing with Construction Permits: 63 out of 190 countries Getting Electricity: 149 out of 190 countries Registering Property: 176 out of 190 countries Getting Credit: 144 out of 190 countries Protecting Minority Investors: 147 out of 190 countries Paying Taxes: 119 out of 190 countries Trading across Borders: 157 out of 190 countries Enforcing Contracts: 124 out of 190 countries Resolving Insolvency: 141 out of 190 countries |
Global competitiveness ranking | N/A |
Index of Economic Freedom |
Ranking: 141 / Score: 53.2 (Mostly unfree) (2019) (100=totally free 0=totally repressed) |
Population & Geographic Data
Total Area | 298 sq km |
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Total Population |
1990 0.21 Million 2000 0.27 Million 2010 0.32 Million 2015 0.35 Million 2020 0.38 Million |
Urban population as % of total population |
1960 11.2% 1980 22.3% 2000 27.7% 2020 39.8% |
Population median age | 28.6 years (2018 estimate) |
Population growth rate | -0.06% (2018 estimate) |
Life expectancy | 76 years (2018 estimate) |
% of population living on less than $3.10 a day | N/A |
Inequality of wealth distribution (Gini index) | N/A |
Freedom House rating |
Political Rights: 5 Civil Liberties: 5 (2019) (1 represents the most free, 7 the least free rating) |
Total telephone subscribers as % of population |
Fixed 3.6% Mobile 166.4% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population | 63.19% (2017) |
Language & Religon
Languages | Dhivehi (official, dialect of Sinhala, script derived from Arabic), English (spoken by most government officials) |
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Literacy |
Total population: 99.3% Male: 99.8% Female: 98.8% (2015 est.) (age 15 and over can read and write) |
Religions | Sunni Muslim (official) |
World Rankings
Population | 0.38 million |
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Mercer Cost of living index | N/A |
C02 Emissions per capita | 3.07 metric tons per capita (2014) |
Global Finance Rankings & Awards: The Maldives
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000