Maldives/Economy

Economy of Maldives

An overview of key economic indicators. Select a category for detailed trends, charts, and insights.

Explore Economic Domains

Growth & Output

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GDP (USD)
$6.6B(2023)
GDP PPP (USD)
$13.0B(2023)
GDP per Capita (USD)
$12,530(2023)
GDP Growth (inflation-adjusted)
4.7%(2023)
Inflation (CPI Annual %)
1.4%(2024)

Trade & Finance

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Exports (as share of GDP)
74.4%(2023)
Imports (as share of GDP)
75.7%(2023)
FDI Inflows (as share of GDP)
11.6%(2023)
Remittance Inflow (USD)
$5.4M(2023)
Tax Revenue (as share of GDP)
19.5%(2021)

Labor & Income

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Unemployment Rate
4.6%(2024)
Employment in Services
67.3%(2023)
Poverty Rate
5.4%(2019)
GINI Index
29.3(2019)
GNI per Capita (USD)
$11,070(2023)

Energy & Environment

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Energy Use per Capita
921 kg oil eq.(2007)
Renewable Energy Consumption (%)
1.2%(2022)

Economic Snapshot Overview

A summary of key economic indicators for Maldives

  • The economic architecture of Maldives is substantial, anchored by a Gross Domestic Product (GDP) of approximately $6.59B
    2023
    . This places it as the 154th largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $12.53K
    2023
    , while its GDP in Purchasing Power Parity (PPP) terms is estimated at $13.01B, reflecting the population's domestic purchasing power. The economy demonstrates solid growth, expanding at a rate of 4.7%
    2023
    , accompanied by stable price levels, with inflation (CPI) at 1.4%
    2024
    .
  • On the global stage, the nation's trade and financial dynamics reveal a complex interplay of factors. The country has a relatively balanced trade profile, with exports making up 74.4% of GDP and imports 75.7%
    2023
    . Foreign Direct Investment (FDI) inflows are significant, constituting 11.63% of the economy
    2023
    . This performance positions the country 12th globally out of 186 nations, indicating its relative attractiveness to foreign capital. Additionally, personal remittances received amount to a substantial $5.38M annually
    2023
    , highlighting the economic importance of its diaspora. Fiscal capacity is moderate, with tax revenue at 19.5% of GDP
    2021
    .
  • The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $11,070
    2023
    . Globally, this ranks the nation 72nd out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others. The labor market is stable, with unemployment at 4.6%
    2024
    . The services sector is a primary driver of the labor market, accounting for 67.3% of total employment
    2023
    . Poverty remains a key issue, with 5.4% of the population living below the national poverty line
    2019
    . The country has a relatively equitable distribution of income, with a Gini index of 29.3
    2019
    .
  • On the environment and energy front, energy consumption per capita is 921.477 kg of oil equivalent
    2007
    . The energy mix is still heavily reliant on traditional sources, with renewables contributing 1.2%
    2022
    . Its commitment to clean energy places it 19th among 190 countries for its share of renewable energy consumption.

Key Economic Insights

Macroeconomic Health

The economy is in a "Goldilocks" state of strong growth, low inflation, and low unemployment, indicating robust macroeconomic health.

Trade & Investment Profile

A highly open, export-oriented economy that is deeply integrated into global markets and attractive to foreign capital.

Social Equity & Distribution

The benefits of growth appear to be broadly shared, with relatively low poverty and a more equitable income distribution.

Energy & Sustainability

Heavy reliance on fossil fuels creates significant long-term risks related to climate change, price volatility, and energy security.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.