Maldives: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Upper Middle Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Data Unavailable |
| Economic Trivia | Tourism is the largest sector of Maldives' economy, providing for more than 28% of GDP and 60% of foreign exchange. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2021): Oman, United Arab Emirates, and India |
| Top Industries Source: CIA World Factbook | Tourism; Fish Processing; Shipping; Boat Building |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $12,975,106,444 (2022) |
| GDP Growth Rate (annual %) | 12.299% (2022) |
| GDP Per Capita, PPP (current international) | $24,772 (2022) |
GDP Country Rank 157/197 (2022)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 2.333% (2022) |
| External debt stocks, total (DOD, current US$) | $3,846,840,165 (2021) |
| Total tax rate (% of commercial profits) | 30.2% (2019) |
| Real Interest Rate (5 year average %) | 8.69% (2022) |
| Manufacturing, value added (% of GDP) | 1.937% (2021) |
| Current Account Balance (BoP, current US$) | ($1,033,061,318) (2022) |
Labor and Employment [1]
| Labor Force, Total | 260,527 (2022) |
| Employment in Agriculture (% of total employment) | 10.529% (2021) |
| Employment in Industry (% of total employment) | 26.418% (2021) |
| Employment in Services (% of total employment) | 63.054% (2021) |
| Unemployment Rate | 4.883% (2022) |
Trade [1]
| Imports of goods and services (current US$) | $3,664,288,369 (2021) |
| Exports of goods and services (current US$) | $4,070,267,842 (2021) |
| Total Merchandise Trade (% of GDP) | 63.265% (2022) |
| FDI, net inflows (BoP, current US$) | $721,895,590 (2022) |
| Commercial Service Exports (current US$) | $4,685,609,678 (2022) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Maldives’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.