| GEOGRAPHIC NAMES | GEOLOGY | USA STATS | CHINA STATS | COUNTRY CODES | AIRPORTS | RELIGION | JOBS |

Maldives Economy 2019

SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES











Maldives Economy 2019
SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 08, 2019

Economy - overview:
Maldives has quickly become a middle-income country, driven by the rapid growth of its tourism and fisheries sectors, but the country still contends with a large and growing fiscal deficit. Infrastructure projects, largely funded by China, could add significantly to debt levels. Political turmoil and the declaration of a state of emergency in February 2018 led to the issuance of travel warnings by several countries whose citizens visit Maldives in significant numbers, but the overall impact on tourism revenue was unclear.

In 2015, Maldives’ Parliament passed a constitutional amendment legalizing foreign ownership of land; foreign land-buyers must reclaim at least 70% of the desired land from the ocean and invest at least $1 billion in a construction project approved by Parliament.

Diversifying the economy beyond tourism and fishing, reforming public finance, increasing employment opportunities, and combating corruption, cronyism, and a growing drug problem are near-term challenges facing the government. Over the longer term, Maldivian authorities worry about the impact of erosion and possible global warming on their low-lying country; 80% of the area is 1 meter or less above sea level.

GDP (purchasing power parity):
$6.901 billion (2017 est.)
$6.583 billion (2016 est.)
$6.3 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 168
[see also: GDP country ranks ]

GDP (official exchange rate):
$4.505 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.8% (2017 est.)
4.5% (2016 est.)
2.2% (2015 est.)
country comparison to the world: 57
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$19,200 (2017 est.)
$18,600 (2016 est.)
$18,100 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 93
[see also: GDP - per capita country ranks ]

Gross national saving:
0.5% of GDP (2017 est.)
-4.5% of GDP (2016 est.)
12.6% of GDP (2015 est.)
country comparison to the world: 180
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: NA (2016 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: NA (2016 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: NA (2016 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: NA (2016 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 93.6% (2016 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: 89% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 3% (2015 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 16% (2015 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 81% (2015 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
coconuts, corn, sweet potatoes; fish

Industries:
tourism, fish processing, shipping, boat building, coconut processing, woven mats, rope, handicrafts, coral and sand mining

Industrial production growth rate:
14% (2012 est.)
country comparison to the world: 4
[see also: Industrial production growth rate country ranks ]

Labor force:
222,200 (2017 est.)
country comparison to the world: 168
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 7.7%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 22.8%
[see also: Labor force - by occupation - industry country ranks ]
services: 69.5% (2017 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
2.9% (2017 est.)
3.2% (2016 est.)
country comparison to the world: 35
[see also: Unemployment rate country ranks ]

Population below poverty line:
15% (2009 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.2%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 33.3% (FY09/10)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
38.4 (2009 est.)
37.4 (2004 est.)
country comparison to the world: 77
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 1.19 billion (2016 est.)
[see also: Budget - revenues country ranks ]
expenditures: 1.643 billion (2016 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
26.4% (of GDP) (2016 est.)
country comparison to the world: 111
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-10.1% (of GDP) (2016 est.)
country comparison to the world: 212
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
63.9% of GDP (2017 est.)
61.7% of GDP (2016 est.)
country comparison to the world: 62
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
2.3% (2017 est.)
0.8% (2016 est.)
country comparison to the world: 116
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
7% (30 September 2017)
7% (30 September 2016)
country comparison to the world: 50
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
10.5% (31 December 2012 est.)
10.2% (31 December 2011 est.)
country comparison to the world: 82
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$908.6 million (31 October 2017 est.)
$865.9 million (31 October 2016 est.)
country comparison to the world: 160
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$1.982 billion (31 October 2017)
$2.043 billion (31 October 2016 est.)
country comparison to the world: 143
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.559 billion (31 December 2012 est.)
$1.601 billion (31 December 2011 est.)
country comparison to the world: 160
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$555 million (31 December 2011 est.)
country comparison to the world: 112
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$876 million (2017 est.)
-$1.033 billion (2016 est.)
country comparison to the world: 137
[see also: Current account balance country ranks ]

Exports:
$256.2 million (2016 est.)
$239.8 million (2015 est.)
country comparison to the world: 188
[see also: Exports country ranks ]

Exports - partners:
Thailand 42.8%, Sri Lanka 8.7%, Bangladesh 6.4%, France 6.2%, US 6.1%, Germany 5%, Ireland 4.6% (2017)

Exports - commodities:
fish

Imports:
$2.125 billion (2016 est.)
$1.896 billion (2015 est.)
country comparison to the world: 164
[see also: Imports country ranks ]

Imports - commodities:
petroleum products, clothing, intermediate and capital goods

Imports - partners:
UAE 17.1%, India 13.5%, Singapore 13.3%, China 10.8%, Sri Lanka 6.7%, Malaysia 6%, Thailand 4.5% (2017)

Reserves of foreign exchange and gold:
$477.9 million (31 December 2016 est.)
$575.8 million (31 December 2015 est.)
country comparison to the world: 153
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$848.8 million (31 December 2016 est.)
$696.2 million (31 December 2015 est.)
country comparison to the world: 168
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$324 million (31 December 2015)
$256 million (31 December 2013)
country comparison to the world: 133
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$448 million (31 December 2016 est.)
$307.7 million (31 December 2015)
country comparison to the world: 98
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
rufiyaa (MVR) per US dollar -
15.42 (2017 est.)
15.35 (2016 est.)


NOTE: 1) The information regarding Maldives on this page is re-published from the 2019 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Maldives Economy 2019 information contained here. All suggestions for corrections of any errors about Maldives Economy 2019 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






This page was last modified 08-Feb-19
Copyright © 1995- , ITA (all rights reserved).

    . Feedback