World Factbook
Maldives
Dhivehi Raajjeyge Jumhooriyyaa
Last updated: 2026-03-28 (today)
Budget
note
note: central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated
revenues
$1.407 billion (2021 est.)
expenditures
$1.939 billion (2021 est.)
Exports
note
note: balance of payments - exports of goods and services in current dollars
Exports 2022
$5.096 billion (2022 est.)
Exports 2023
$4.88 billion (2023 est.)
Exports 2024
$5.413 billion (2024 est.)
Imports
note
note: balance of payments - imports of goods and services in current dollars
Imports 2022
$4.939 billion (2022 est.)
Imports 2023
$4.984 billion (2023 est.)
Imports 2024
$5.344 billion (2024 est.)
Industries
tourism, fish processing, shipping, boat building, coconut processing, woven mats, rope, handicrafts, coral and sand mining
Labor force
270,300 (2024 est.)
note: number of people ages 15 or older who are employed or seeking work
Public debt
Public debt 2016
61.7% of GDP (2016 est.)
Remittances
note
note: personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2022
0.1% of GDP (2022 est.)
Remittances 2023
0.1% of GDP (2023 est.)
Remittances 2024
0.1% of GDP (2024 est.)
Exchange rates
Currency
rufiyaa (MVR) per US dollar -
Exchange rates 2020
15.381 (2020 est.)
Exchange rates 2021
15.373 (2021 est.)
Exchange rates 2022
15.387 (2022 est.)
Exchange rates 2023
15.387 (2023 est.)
Exchange rates 2024
15.389 (2024 est.)
Debt - external
note
note: present value of external debt in current US dollars
Debt - external 2023
$3.113 billion (2023 est.)
Economic overview
upper middle-income Indian Ocean island economy; major tourism, fishing, and shipping industries; high public debt; systemic corruption; crippled by COVID-19; ongoing deflation; poverty has tripled since pandemic began
Unemployment rate
note
note: % of labor force seeking employment
Unemployment rate 2022
4.5% (2022 est.)
Unemployment rate 2023
4.3% (2023 est.)
Unemployment rate 2024
4.7% (2024 est.)
Exports - partners
Thailand 32%, India 21%, Singapore 9%, UK 7%, Germany 5% (2023)
note: top five export partners based on percentage share of exports
Imports - partners
India 15%, UAE 15%, Oman 14%, China 12%, Singapore 8% (2023)
note: top five import partners based on percentage share of imports
Real GDP per capita
note
note: data in 2021 dollars
Real GDP per capita 2022
$21,400 (2022 est.)
Real GDP per capita 2023
$22,300 (2023 est.)
Real GDP per capita 2024
$23,400 (2024 est.)
Real GDP growth rate
note
note: annual GDP % growth based on constant local currency
Real GDP growth rate 2022
13.8% (2022 est.)
Real GDP growth rate 2023
4.7% (2023 est.)
Real GDP growth rate 2024
5.1% (2024 est.)
Agricultural products
fruits, vegetables, nuts, other meats, papayas, bananas, tomatoes, maize, pulses, chillies/peppers (2023)
note: top ten agricultural products based on tonnage
Exports - commodities
fish, aircraft, refined petroleum, scrap iron, natural gas (2023)
note: top five export commodities based on value in dollars
Imports - commodities
refined petroleum, plastic products, aircraft, granite, ships (2023)
note: top five import commodities based on value in dollars
Current account balance
note
note: balance of payments - net trade and primary/secondary income in current dollars
Current account balance 2022
-$1.042 billion (2022 est.)
Current account balance 2023
-$1.4 billion (2023 est.)
Current account balance 2024
-$1.257 billion (2024 est.)
Taxes and other revenues
19.5% (of GDP) (2021 est.)
note: central government tax revenue as a % of GDP
GDP (official exchange rate)
$6.975 billion (2024 est.)
note: data in current dollars at official exchange rate
GDP - composition, by end use
household consumption
51.4% (2023 est.)
government consumption
17.1% (2023 est.)
investment in inventories
-2% (2023 est.)
investment in fixed capital
35% (2023 est.)
exports of goods and services
74.4% (2023 est.)
imports of goods and services
-75.7% (2023 est.)
Population below poverty line
5.4% (2019 est.)
note: % of population with income below national poverty line
Inflation rate (consumer prices)
note
note: annual % change based on consumer prices
Inflation rate (consumer prices) 2022
2.3% (2022 est.)
Inflation rate (consumer prices) 2023
2.9% (2023 est.)
Inflation rate (consumer prices) 2024
1.4% (2024 est.)
Industrial production growth rate
-2.7% (2024 est.)
note: annual % change in industrial value added based on constant local currency
Real GDP (purchasing power parity)
note
note: data in 2021 dollars
Real GDP (purchasing power parity) 2022
$11.194 billion (2022 est.)
Real GDP (purchasing power parity) 2023
$11.723 billion (2023 est.)
Real GDP (purchasing power parity) 2024
$12.325 billion (2024 est.)
Youth unemployment rate (ages 15-24)
male
20% (2024 est.)
note
note: % of labor force ages 15-24 seeking employment
total
16.1% (2024 est.)
female
9.5% (2024 est.)
Reserves of foreign exchange and gold
note
note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2022
$832.094 million (2022 est.)
Reserves of foreign exchange and gold 2023
$590.523 million (2023 est.)
Reserves of foreign exchange and gold 2024
$673.886 million (2024 est.)
GDP - composition, by sector of origin
note
note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data
industry
9% (2024 est.)
services
73.8% (2024 est.)
agriculture
3% (2024 est.)
Household income or consumption by percentage share
note
note: % share of income accruing to lowest and highest 10% of population
lowest 10%
3.8% (2019 est.)
highest 10%
23.3% (2019 est.)
Gini Index coefficient - distribution of family income
note
note: index (0-100) of income distribution; higher values represent greater inequality
Gini Index coefficient - distribution of family income 2019
29.3 (2019 est.)