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Includes historical data for Maldives’ Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.

Economy Powered By Tourism And Foreign Investment

A nation of more than 520,000 people spread across 185 islands, the Maldives is an upper-middle-income country, with tourism remaining a cornerstone of its economy, contributing nearly one-third of the nation’s GDP.

In recent years, political reforms have aimed at diversifying the country’s revenue sources, improving transport infrastructure, and enhancing transparency. Yet, while the Maldives welcomes foreign investment and maintains numerous bilateral trade agreements, relatively underdeveloped regulatory frameworks pose challenges. Other weaknesses include geographical isolation and related heavy import dependence, political volatility, heightened exposure to climate risks, and a shortage of skilled labor.

Macroeconomy & Sovereign Data

Type of Government Presidential republic
Capital Male
Sovereign Ratings S&P: A–
Moody’s: A3
Fitch: BBB+
Total Population 523,787
Median Age 32.1
Adult Per Capita Income (PPP) 27,008.33
Total GDP (2023) USD 7.5 billion

Maldives GDP & Economic Overview

Most Recent Content

Banking & Finance

Trade & Investment

Total Exports USD 3.1 billion (2022)
Leading Exports Refined Petroleum
Broadcasting Equipment
Total Imports USD 773.3 million (2022)
Leading Imports Skipjack And Stripe-Bellied Bonito
Fish Fillets
Scrap Iron 
Source: World Integrated Trade Solution

Maldives Leading Companies

Bank of Maldives Financials
Maldives National Airline (MNA) Transportation, Airlines
Housing Development Corporation Real Estate Development & Services
Maldives Integrated Tourism Development Corporation (MITDC) Hotels, Resorts & Leisure
State Trading Organization (STO) Consumer Staples, Food & Beverage Distribution

Major Trade Partners — Import

Oman 13.1%
United Arab Emirates 13.0%
China 12.6%
India 12.4%
Singapore 10.2%

Major Trade Partners — Export

Thailand 46.4%
Germany 11.4%
United Kingdom 6.8%
France 4.1%
India 3.9%

Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings


Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000