Maldives Domestic Credit
Domestic credit provided by financial sector as % of GDP FS.AST.DOMS.GD.ZS
Maldives's domestic credit was 85.94% in 2025, ranked 16th globally. This represents a 12.4% decrease from 2024. Data from World Bank, covering 2004–2025.
Overview
Maldives's domestic credit stood at 85.94% in 2025, a decline of +12.17% from 2024. Based on recent trends, this figure is projected to reach 85.94% by 2025. Maldives ranked 16th globally.
Maldives’ domestic credit to the private sector has risen sharply from 27.43 in 2004 to 85.94 in 2025, placing the nation 16th globally and positioning it just below United Arab Emirates (89.32) and above Bhutan (80.78). The rapid expansion accelerated after the 2020 peak of 125.93, when credit availability reached its highest level, before moderating to the current figure. This trajectory reflects sustained financial deepening amid rising tourism revenues and extensive infrastructure projects, while the modest pull‑back from the 2020 high suggests a cautious recalibration by banks in response to global monetary tightening. Compared with peers such as Honduras (87.24), Maldives’ credit growth remains robust, albeit slightly lower than the UAE’s more diversified economy. If the government continues to strengthen regulatory frameworks and attract foreign investment, domestic credit is likely to resume an upward path, supporting further private‑sector expansion.
Data & projection
| Year | Domestic Credit | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 74.84% | - | - |
| 2026* trend | 80.39% | - | - |
| 2025* trend | 85.94% | - | - |
| 2025 | 85.94% | −12.17% | #16 |
| 2024 | 98.10% | +0.14% | #30 |
| 2023 | 97.97% | +4.84% | #36 |
| 2022 | 93.13% | −4.69% | #39 |
| 2021 | 97.81% | −28.11% | #38 |
| 2020 | 125.93% | +62.41% | #42 |
| 2019 | 63.52% | +0.04% | #28 |
| 2018 | 63.48% | −1.77% | #28 |
| 2017 | 65.26% | −2.97% | #31 |
| 2016 | 68.23% | +7.26% | #30 |
| 2015 | 60.97% | +2.70% | #26 |
| 2014 | 58.27% | −2.37% | #25 |
| 2013 | 60.64% | −3.94% | #24 |
| 2012 | 64.58% | −6.13% | #26 |
| 2011 | 70.71% | −6.16% | #30 |
Detected Pattern
Analysis
Maldives matched the Fiscal Dominance Trap pattern in 2011. Historically, 72% of countries showing this pattern (278 out of 386) saw domestic credit improve within 24 months. View full analysis →
Frequently Asked Questions
Maldives's domestic credit was 85.94% in 2025. Ranked 16th globally. This represents a 12.4% decrease from the previous year.
Maldives's domestic credit peaked at 125.93% in 2020.
The lowest domestic credit in Maldives was 27.43% in 2004.
Maldives ranks 16th globally in domestic credit as of 2025.
The World Bank indicator code is FS.AST.DOMS.GD.ZS. Data sourced from World Bank.
Maldives's domestic credit is projected to reach 85.94% by 2025 based on trend extrapolation.
The domestic credit of Maldives in 2025 was 85.94%. This ranks 16th in the world.
Cite this page
@misc{historysaid_maldives_domestic-credit,
title = {Maldives Domestic Credit},
url = {https://historysaid.com/maldives/domestic-credit/},
publisher = {HistorySaid},
year = {2026}
}