Maldives External Debt
Total external debt stocks DT.DOD.DECT.CD
Maldives's external debt was $4.7B in 2025, ranked 84th globally. This represents a 0.3% decrease from 2024. Data from World Bank, covering 1978–2025.
Overview
Maldives's external debt stood at $4.7B in 2025, a decline of +$14.5M from 2024. Based on recent trends, this figure is projected to reach $4.7B by 2025. Maldives ranked 84th globally.
Maldives’ external debt has risen sharply from a modest 8,884,310.10 in 1978 to 4,677,938,551.81 in 2025, placing the island nation at rank 84 globally. The debt trajectory accelerated after the early 2000s, reaching an all‑time peak of 4,692,462,747.80 in 2024 before a slight decline the following year. This pattern mirrors the experience of peer economies such as Kosovo, whose external debt stands at 4,798,977,910.44, suggesting that small, tourism‑dependent states are vulnerable to similar financing pressures. The 48‑year coverage period shows a compound increase of over 525,000 percent, reflecting extensive borrowing to fund infrastructure, climate‑resilience projects, and debt‑service obligations. While the modest dip from the 2024 peak indicates a potential stabilization, any resurgence in global interest rates or a slowdown in tourist arrivals could reverse the downward move, keeping the debt trajectory contingent on external financing conditions and domestic economic reforms.
Data & projection
| Year | External Debt | YoY change | Rank |
|---|---|---|---|
| 2027* trend | $5.1B | - | - |
| 2026* trend | $4.9B | - | - |
| 2025* trend | $4.7B | - | - |
| 2025 | $4.7B | −$14.5M | #84 |
| 2024 | $4.7B | +$692.7M | #37 |
| 2023 | $4.0B | +$7.0M | #35 |
| 2022 | $4.0B | −$106.7M | #34 |
| 2021 | $4.1B | +$438.1M | #34 |
| 2020 | $3.7B | +$986.5M | #34 |
| 2019 | $2.7B | +$353.6M | #32 |
| 2018 | $2.3B | +$855.7M | #28 |
| 2017 | $1.5B | +$328.0M | #20 |
| 2016 | $1.1B | +$133.5M | #19 |
| 2015 | $1.0B | −$97.1M | #20 |
| 2014 | $1.1B | +$76.5M | #22 |
| 2013 | $1.0B | +$85.5M | #22 |
| 2012 | $939.0M | +$58.4M | #21 |
| 2011 | $880.7M | −$33.0M | #20 |
Detected Pattern
Analysis
Maldives matched the Fiscal Dominance Trap pattern in 2011. Historically, 72% of countries showing this pattern (278 out of 386) saw external debt improve within 24 months. View full analysis →
Frequently Asked Questions
Maldives's external debt was $4.7B in 2025. Ranked 84th globally. This represents a 0.3% decrease from the previous year.
Maldives's external debt peaked at $4.7B in 2024.
The lowest external debt in Maldives was $8.9M in 1978.
Maldives ranks 84th globally in external debt as of 2025.
The World Bank indicator code is DT.DOD.DECT.CD. Data sourced from World Bank.
Maldives's external debt is projected to reach $4.7B by 2025 based on trend extrapolation.
Maldives's external debt was approximately 4.68 billion ($4.7B) in 2025.
The external debt of Maldives in 2025 was $4.7B. This ranks 84th in the world.
Cite this page
@misc{historysaid_maldives_external-debt,
title = {Maldives External Debt},
url = {https://historysaid.com/maldives/external-debt/},
publisher = {HistorySaid},
year = {2026}
}