Maldives Economic Statistics and Indicators

19, Jan 2021, EST. Welcome to the Maldives economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Maldives › Change country
National or Regional Currency: Rufiyaa, MVR
Year of data: 2015 › Change year
Number of Indicators Listed: 37
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 393,595 (July 2014 est.)
Area: total: 298 sq km ; land: 298 sq km ; water: 0 sq km
Natural Resources: fish
Capital: name: Male ; geographic coordinates: 4 10 N, 73 30 E ; time difference: UTC+5 (10 hours ahead of Washington, DC, during Standard Time)

Tourism, Maldives' largest economic activity, accounts for nearly 30% of GDP and more than 60% of foreign exchange receipts. Fishing is the second leading sector, but the fish catch has dropped sharply in recent years. Agriculture and manufacturing continue to play a lesser role in the economy, constrained by the limited availability of cultivable land and the shortage of domestic labor. Lower than expected tourist arrivals and fish exports, combined with high government spending on social needs, subsidies, and civil servant salaries contributed to a balance of payments crisis, which was temporarily eased with a $79.3 million IMF Stand-By agreement. However, after the first two disbursements, the IMF withheld subsequent disbursements due to concerns over Maldives' growing budget deficit, and the government has been seeking other sources of budgetary support ever since. A new Goods and Services Tax (GST) on tourism introduced in January 2011, on general goods and services in October 2011, and a new Business Profit Tax introduced in July 2011 have provided a boost to revenue. In recent years, gross foreign reserves have hovered around $300 million, sufficient to finance about two to three months of imports. Diversifying the economy beyond tourism and fishing, reforming public finance, increasing employment opportunities, and combating corruption, cronyism, and a growing drug problem are other 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.
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GDP (Constant Prices, National Currency) for Maldives in year 2015 is MVR 26.542 Billion.

GDP Growth (Constant Prices, National Currency) for Maldives in year 2015 is 1.912 %.

GDP (Current Prices, National Currency) for Maldives in year 2015 is MVR 48.209 Billion.

GDP (Current Prices, US Dollars) for Maldives in year 2015 is US$ 3.13 Billion.

GDP Deflator for Maldives in year 2015 is 181.636 (Index, Base Year as per country's accounts = 100).

GDP Per Capita (Constant Prices, National Currency) for Maldives in year 2015 is MVR 76,306.42 .

GDP Per Capita (Current Prices, National Currency) for Maldives in year 2015 is MVR 138,599.56 .

GDP Per Capita (Current Prices, US Dollars) for Maldives in year 2015 is US$ 8,999.97 .

GDP (PPP), US Dollars for Maldives in year 2015 is US$ 5.191 Billion.

GDP Per Capita (PPP), US Dollars for Maldives in year 2015 is US$ 14,922.76 .

GDP Share of World Total (PPP) for Maldives in year 2015 is 0.005 %.

Implied PPP Conversion Rate for Maldives in year 2015 is 9.288 .

Investment (% of GDP) for Maldives in year 2015 is 20 %.

Gross National Savings (% of GDP) for Maldives in year 2015 is 11.982 %.

Inflation, Average Consumer Prices (Indexed to Year 2000) for Maldives in year 2015 is 183.222 (Index, Base Year 2000 = 100).

Inflation (Average Consumer Price Change %) for Maldives in year 2015 is 1.427 %.

Inflation, End of Year (Indexed to Year 2000) for Maldives in year 2015 is 226.979 (Index, Base Year 2000 = 100).

Inflation (End of Year Change %) for Maldives in year 2015 is 1.879 %.

Import Volume of All Items Including Goods and Services (Percent Change) for Maldives in year 2015 is -3.026 %.

Import Volumes of Goods Only (Percent Change) for Maldives in year 2015 is 0.103 %.

Export Volume of All Items Including Goods and Services (Percent Change) for Maldives in year 2015 is -5.742 %.

Export Volumes of Goods Only (Percent Change) for Maldives in year 2015 is -16.687 %.

Population for Maldives in year 2015 is 0.348 Million .

General government revenue (National Currency) for Maldives in year 2015 is MVR 17.218 Billions.

General government revenue (% of GDP) for Maldives in year 2015 is 35.715 %.

General government total expenditure (National Currency) for Maldives in year 2015 is MVR 21.414 Billions.

General government total expenditure (% of GDP) for Maldives in year 2015 is 44.419 %.

Total Government Net Lending/ Borrowing (National Currency) for Maldives in year 2015 is MVR -4.196 Billions.

Total Government Net Lending/ Borrowing (% of GDP) for Maldives in year 2015 is -8.704 %.

Fiscal Year Gross Domestic Product, Current Prices for Maldives in year 2015 is MVR 48.209 Billions.

Current Account Balance (US Dollars) for Maldives in year 2015 is US$ -0.251 Billion.

Current Account Balance (% GDP) for Maldives in year 2015 is -8.018 %.