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Maldives
Maldives
HistorySaid – pattern
Maldives matched the Fiscal Dominance Trap pattern in 2011. 5 pattern matches detected historically. View →
HistorySaid – ranking
Maldives ranks 38th globally by GDP ($7.1B in 2024). View →
HistorySaid – inflation
Inflation in Maldives fell from 2.9% (2023) to 1.4% (2024) – a 1.5pp shift. View →
HistorySaid – population
Maldives has a population of 527,799 as of 2024 (growth: 0.34%). View →
Economy & Growth
GDP $7.1B
GDP per Capita $13,379
GDP Growth 3.49%
▾
| Indicator | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|---|---|---|---|
| Agriculture Value Added | 5.06% | 5.08% | 3.84% | 3.07% Trend | 2.30% Trend | 1.53% Trend | – | – | – |
| GDP | $6.2B | $6.6B | $7.1B | $7.7B IMF WEO Oct 2025 | $8.2B IMF WEO Oct 2025 | $8.7B IMF WEO Oct 2025 | $9.3B IMF WEO Oct 2025 | $9.8B IMF WEO Oct 2025 | $10.4B IMF WEO Oct 2025 |
| GDP Deflator | 3.41% | 2.14% | 3.07% | 5.27% Trend | 6.49% Trend | 7.71% Trend | – | – | – |
| GDP Growth | 13.83% | 4.94% | 3.49% | 4.79% IMF WEO Oct 2025 | 4.50% IMF WEO Oct 2025 | 4.09% IMF WEO Oct 2025 | 4.01% IMF WEO Oct 2025 | 4.01% IMF WEO Oct 2025 | 4.05% IMF WEO Oct 2025 |
| GDP PPP | $12.0B | $13.0B | $13.8B | $14.8B IMF WEO Oct 2025 | $15.8B IMF WEO Oct 2025 | $16.7B IMF WEO Oct 2025 | $17.6B IMF WEO Oct 2025 | $18.7B IMF WEO Oct 2025 | $19.8B IMF WEO Oct 2025 |
| GDP per Capita | $11,786 | $12,588 | $13,379 | $18,684 IMF WEO Oct 2025 | $19,682 IMF WEO Oct 2025 | $20,551 IMF WEO Oct 2025 | $21,443 IMF WEO Oct 2025 | $22,373 IMF WEO Oct 2025 | $23,352 IMF WEO Oct 2025 |
| GDP per Capita PPP | $22,881 | $24,786 | $26,183 | $36,066 IMF WEO Oct 2025 | $37,733 IMF WEO Oct 2025 | $39,275 IMF WEO Oct 2025 | $40,828 IMF WEO Oct 2025 | $42,495 IMF WEO Oct 2025 | $44,300 IMF WEO Oct 2025 |
| GNI | $5.5B | $5.9B | $6.3B | $7.2B Trend | $7.9B Trend | $8.6B Trend | – | – | – |
| GNI per Capita | $10,570 | $11,130 | $11,640 | $13,236 Trend | $14,332 Trend | $15,428 Trend | – | – | – |
| Gross Savings | 16.68% | 12.22% | 11.98% | 26.09% IMF WEO Oct 2025 | 21.85% IMF WEO Oct 2025 | 20.77% IMF WEO Oct 2025 | 20.88% IMF WEO Oct 2025 | 21.29% IMF WEO Oct 2025 | 22.13% IMF WEO Oct 2025 |
| Industry Value Added | 9.92% | 9.64% | 9.20% | 8.22% Trend | 7.59% Trend | 6.96% Trend | – | – | – |
| Services Value Added | 73.57% | 70.76% | 72.10% | 72.14% Trend | 72.16% Trend | 72.19% Trend | – | – | – |
Italic values are IMF World Economic Outlook projections.
Prices & Inflation
Inflation Rate 1.40%
Consumer Price Index 144.64
PPP Conversion Factor 7.86
▾
| Indicator | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|---|---|---|---|
| Consumer Price Index | 138.58 | 142.64 | 144.64 | 147.33 Trend | 150.04 Trend | 152.75 Trend | – | – | – |
| Inflation Rate | 2.33% | 2.93% | 1.40% | 3.87% IMF WEO Oct 2025 | 2.50% IMF WEO Oct 2025 | 2.00% IMF WEO Oct 2025 | 2.00% IMF WEO Oct 2025 | 2.00% IMF WEO Oct 2025 | 2.00% IMF WEO Oct 2025 |
| PPP Conversion Factor | 7.93 | 7.81 | 7.86 | 7.57 Trend | 7.41 Trend | 7.25 Trend | – | – | – |
Italic values are IMF World Economic Outlook projections.
Population
Population 527,799
Population Growth 0.34%
Population Density 1,765.1
▾
| Indicator | 2023 | 2024 | 2025 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|
| Birth Rate | 11.0 | – | – | 10.2 Trend | 9.8 Trend | – | – |
| Death Rate | 2.3 | – | – | 2.2 Trend | 2.1 Trend | – | – |
| Dependency Ratio | 32.26 | 31.98 | – | 31.50 Trend | 31.14 Trend | 30.78 Trend | – |
| Fertility Rate | 1.58 | – | – | 1.54 Trend | 1.52 Trend | – | – |
| Life Expectancy | 81.0 | – | – | 81.5 Trend | 82.0 Trend | – | – |
| Net Migration | -2,877 | -2,421 | -2,283 | – | -7,110 Trend | -9,423 Trend | -11,737 Trend |
| Population | 525,994 | 527,799 | – | 537,595 Trend | 543,715 Trend | 549,835 Trend | – |
| Population Density | 1,765.1 | – | – | 1,847.2 Trend | 1,882.4 Trend | – | – |
| Population Growth | 0.36% | 0.34% | – | -0.68% Trend | -1.43% Trend | -2.18% Trend | – |
| Refugee Population | – | – | – | – | – | – | – |
| Urban Population | 41.51% | 42.00% | – | 42.33% Trend | 42.73% Trend | 43.13% Trend | – |
Italic values are IMF World Economic Outlook projections.
Employment
Unemployment Rate 4.51%
Youth Unemployment 15.69%
Labor Force Participation 63.50%
▾
| Indicator | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|
| Agriculture Employment | 12.02% | 11.63% | 11.31% | 10.81% Trend | 10.39% Trend | 9.97% Trend |
| Female Labor Participation | 40.31% | 40.46% | 40.73% | 41.66% Trend | 42.24% Trend | 42.81% Trend |
| Industry Employment | 16.95% | 16.93% | 16.93% | 17.04% Trend | 17.09% Trend | 17.14% Trend |
| Labor Force Participation | 63.33% | 63.20% | 63.50% | 64.81% Trend | 65.53% Trend | 66.26% Trend |
| Services Employment | 71.03% | 71.44% | 71.77% | 72.15% Trend | 72.52% Trend | 72.88% Trend |
| Unemployment Rate | 4.02% | 4.28% | 4.51% | – | – | – |
| Youth Unemployment | 14.12% | 14.81% | 15.69% | 15.23% Trend | 15.36% Trend | 15.49% Trend |
Italic values are IMF World Economic Outlook projections.
Government
Tax Revenue 19.45%
Government Spending 29.48%
▾
| Indicator | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|---|---|---|---|
| Budget Deficit | -11.16% | -13.17% | -13.90% | -9.39% IMF WEO Oct 2025 | -12.91% IMF WEO Oct 2025 | -12.40% IMF WEO Oct 2025 | -11.54% IMF WEO Oct 2025 | -10.36% IMF WEO Oct 2025 | -9.25% IMF WEO Oct 2025 |
| Education Spending | – | – | – | – | – | – | – | – | – |
| Government Debt to GDP | 111.62% | 122.39% | 133.32% | 131.82% IMF WEO Oct 2025 | 135.89% IMF WEO Oct 2025 | 140.32% IMF WEO Oct 2025 | 143.72% IMF WEO Oct 2025 | 145.76% IMF WEO Oct 2025 | 146.55% IMF WEO Oct 2025 |
| Government Revenue | 30.83% | 33.50% | 32.18% | 31.76% IMF WEO Oct 2025 | 31.74% IMF WEO Oct 2025 | 31.78% IMF WEO Oct 2025 | 31.78% IMF WEO Oct 2025 | 31.78% IMF WEO Oct 2025 | 31.78% IMF WEO Oct 2025 |
| Government Spending | – | – | – | – | – | – | – | – | – |
| Health Spending | 7.50% | 9.25% | – | 8.73% Trend | 8.69% Trend | – | – | – | – |
| Military Spending | – | – | – | – | – | – | – | – | – |
| Tax Revenue | – | – | – | – | – | – | – | – | – |
Italic values are IMF World Economic Outlook projections.
Debt
External Debt $4.7B
External Debt to GNI 75.56%
Short-term Debt 3.41%
▾
| Indicator | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|
| Debt Service | 13.54% | 10.13% | 9.18% | 6.13% Trend | 3.48% Trend | 0.83% Trend |
| Domestic Credit | 93.13% | 97.97% | 98.10% | 85.94% Trend | 80.39% Trend | 74.84% Trend |
| External Debt | $4.0B | $4.0B | $4.7B | $4.7B Trend | $4.9B Trend | $5.1B Trend |
| External Debt to GNI | 73.04% | 68.56% | 75.56% | 57.66% Trend | 49.44% Trend | 41.22% Trend |
| Interest Payments to Revenue | – | – | – | – | – | – |
| Short-term Debt | 11.30% | 2.46% | 3.41% | 0.56% Trend | -1.93% Trend | -4.42% Trend |
Italic values are IMF World Economic Outlook projections.
Money
Lending Rate 11.55%
Deposit Rate 3.72%
Real Interest Rate 8.23%
▾
| Indicator | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|
| Credit to GDP | 35.22% | 35.84% | 35.69% | 28.24% Trend | 24.36% Trend | 20.48% Trend |
| Deposit Rate | 3.73% | 4.00% | 3.72% | 3.86% Trend | 3.89% Trend | 3.93% Trend |
| Lending Rate | 10.93% | 11.68% | 11.55% | 11.47% Trend | 11.47% Trend | 11.47% Trend |
| M2 Money Supply Growth | 6.04% | 6.98% | -0.07% | -3.65% Trend | -8.43% Trend | -13.20% Trend |
| Non-Performing Loans | 9.41% | 8.35% | – | 5.77% Trend | 4.18% Trend | – |
| Real Interest Rate | 7.27% | 9.34% | 8.23% | 5.66% Trend | 4.30% Trend | 2.93% Trend |
Italic values are IMF World Economic Outlook projections.
Currency
Exchange Rate 15.39
Foreign Reserves $673.9M
▾
| Indicator | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|
| Exchange Rate | 15.39 | 15.39 | 15.39 | 15.39 Trend | 15.40 Trend | 15.40 Trend |
| Foreign Reserves | $832.1M | $590.5M | $673.9M | $526.2M Trend | $442.5M Trend | $358.8M Trend |
| Real Effective Exchange Rate | – | – | – | – | – | – |
| Reserves in Months of Imports | 1.8 | 1.2 | 1.3 | 0.1 Trend | -0.7 Trend | -1.4 Trend |
Italic values are IMF World Economic Outlook projections.
Trade
Exports $5.4B
Imports $5.4B
Trade Balance $-3.2M
▾
| Indicator | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|---|---|---|---|
| Current Account Balance | -16.87% | -21.14% | -18.68% | -12.48% IMF WEO Oct 2025 | -11.24% IMF WEO Oct 2025 | -10.99% IMF WEO Oct 2025 | -9.67% IMF WEO Oct 2025 | -9.48% IMF WEO Oct 2025 | -8.36% IMF WEO Oct 2025 |
| Exports | $5.1B | $4.9B | $5.4B | $6.7B Trend | $7.5B Trend | $8.3B Trend | – | – | – |
| FDI Inflows | 11.85% | 11.58% | 11.42% | 11.32% Trend | 11.16% Trend | 11.01% Trend | – | – | – |
| FDI Outflows | – | – | – | – | – | – | – | – | – |
| Imports | $4.9B | $5.0B | $5.4B | $6.4B Trend | $7.2B Trend | $7.9B Trend | – | – | – |
| Remittances Received | $5.1M | $5.4M | $5.7M | $5.9M Trend | $6.1M Trend | $6.4M Trend | – | – | – |
| Tourism Receipts | – | – | – | – | – | – | – | – | – |
| Trade Balance | $191.4M | $-83.6M | $-3.2M | $209.1M Trend | $282.4M Trend | $355.8M Trend | – | – | – |
| Trade Openness | 162.24% | 149.35% | 156.47% | 172.30% Trend | 181.39% Trend | 190.49% Trend | – | – | – |
Italic values are IMF World Economic Outlook projections.
Financial Markets
▾
| Indicator | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|
| Interest Rate Spread | 7.20% | 7.69% | 7.83% | 7.61% Trend | 7.58% Trend | 7.55% Trend |
| Listed Companies | – | – | – | – | – | – |
| Market Capitalization | – | – | – | – | – | – |
| Stock Turnover Ratio | – | – | – | – | – | – |
Italic values are IMF World Economic Outlook projections.
Political Stability
Political Stability 0.53
Government Effectiveness -0.13
Regulatory Quality -0.67
▾
| Indicator | 2021 | 2022 | 2023 | 2025 | 2026 |
|---|---|---|---|---|---|
| Control of Corruption | -0.31 | -0.33 | -0.40 | -0.47 Trend | -0.51 Trend |
| Government Effectiveness | 0.44 | -0.11 | -0.13 | 0.02 Trend | 0.03 Trend |
| Political Stability | 0.53 | 0.65 | 0.53 | 0.93 Trend | 1.06 Trend |
| Regulatory Quality | -0.61 | -0.66 | -0.67 | -0.74 Trend | -0.77 Trend |
| Rule of Law | -0.11 | 0.04 | -0.08 | 0.20 Trend | 0.29 Trend |
| Voice and Accountability | -0.21 | -0.21 | -0.14 | 0.03 Trend | 0.10 Trend |
Italic values are IMF World Economic Outlook projections.
Health
Health Expenditure per Capita $1,159
Infant Mortality Rate 5.0
Maternal Mortality Ratio 32.00
▾
| Indicator | 2021 | 2022 | 2023 | 2025 | 2026 |
|---|---|---|---|---|---|
| Health Expenditure per Capita | $901 | $884 | $1,159 | $1,172 Trend | $1,231 Trend |
| Hospital Beds | 4.56 | – | – | – | – |
| Infant Mortality Rate | 5.6 | 5.3 | 5.0 | 4.3 Trend | 3.9 Trend |
| Maternal Mortality Ratio | 60.00 | 34.00 | 32.00 | 31.40 Trend | 28.60 Trend |
| Physicians | – | – | – | – | – |
Italic values are IMF World Economic Outlook projections.
Education
Literacy Rate 98.21%
Tertiary Enrollment 48.50%
Education Spending 5.17%
▾
| Indicator | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|
| Education Spending | 4.67% | 5.17% | – | 5.25% Trend | 5.34% Trend | – |
| Literacy Rate | – | – | – | – | – | – |
| Primary Enrollment | 96.01% | 100.48% | 99.71% | 100.24% Trend | 100.88% Trend | 101.52% Trend |
| Tertiary Enrollment | 48.50% | – | – | 41.17% Trend | – | – |
Italic values are IMF World Economic Outlook projections.
Energy
Renewable Energy 1.20%
▾
| Indicator | 2021 | 2022 | 2023 | 2025 | 2026 |
|---|---|---|---|---|---|
| CO2 Emissions | – | – | – | – | – |
| CO2 per Capita | – | – | – | – | – |
| Electricity Access | 100.00% | 100.00% | 100.00% | 100.00% Trend | 100.00% Trend |
| Energy Use per Capita | – | – | – | – | – |
| Forest Area | 2.73% | 2.73% | 2.75% | 2.75% Trend | 2.76% Trend |
| Renewable Energy | 1.40% | 1.20% | – | 1.31% Trend | – |
Italic values are IMF World Economic Outlook projections.
Technology
Internet Users 84.69%
Mobile Subscriptions 141.60
▾
| Indicator | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|
| High-tech Exports | 4.10% | 0.19% | 0.00% | 0.02% Trend | -0.51% Trend | -1.04% Trend |
| Internet Users | 83.91% | 84.69% | – | 89.12% Trend | 91.05% Trend | – |
| Mobile Subscriptions | 136.46 | 141.60 | – | 120.38 Trend | 114.10 Trend | – |
| Patent Applications | – | – | – | – | – | – |
| R&D Spending | – | – | – | – | – | – |
Italic values are IMF World Economic Outlook projections.
Inequality
Gini Index 29.3
Poverty Rate 0.00%
Income Share Top 10% 23.30%
▾
| Indicator | 2009 | 2016 | 2019 |
|---|---|---|---|
| Gini Index | 38.4 | 31.3 | 29.3 |
| Income Share Bottom 10% | 2.50% | 3.40% | 3.80% |
| Income Share Top 10% | 29.90% | 25.20% | 23.30% |
| Poverty Rate | 13.10% | 0.10% | 0.00% |
Italic values are IMF World Economic Outlook projections.