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Indicators of economy on the Maldives

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.915 US Dollar per capita. In contrast, the GDP on the Maldives reached 6.924 US dollars per inhabitant, or 3.74 bn US Dollar in the whole country. The Maldives is currently at number 167 among the international economies and is therefore one of the less significant. If this is calculated per inhabitant taking into account the purchasing power parity, then the Maldives is in the list of the world's richest countries in place 90.

Inflation on the Maldives was in 2021 at around 0.54%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 43.0% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Maldives

Impact of the Covid-19 pandemic in 2020

The consequences of the Covid pandemic were drastic on the Maldives. Overall, gross domestic product in 2020 fell from 5.61 billion US Dollar to 3.74 billion US Dollar. With such a substantial drop of 33.26 percent, the economy on the Maldives is struggling far more than other countries. The tourism sector alone slumped by around 56 percent. The unemployment rate rose from 5.3 to 6.3 percent. The inflation rate has fallen from 0.2 percent previously to -1.4 percent by the end of 2020.

Unemployment rates in percent 1991 - 2021

Economic performance 2020

 Maldives
Total
Maldives
per capita
EU
Total
EU
per capita
GDP3.74 bn USD6,924.11 USD15,291.93 tn USD29,692.11 USD
Gross national product3.51 bn USD6,485.97 USD15,330.84 tn USD29,767.66 USD


Development of gross domestic product in million US Dollar 1980 - 2020



Im- and Exports 2020

 Maldives
Total
Maldives
per capita
EU
Total
EU
per capita
Imports2.43 bn USD4,492.71 USD7,340.01 bn USD14,251.98 USD
Exports1.78 bn USD3,292.75 USD7,939.04 bn USD15,415.11 USD


Development of imports and exports in million US dollars 1977 - 2020

Exports
Imports



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