Maldives's GDP changed from approximately $63M in 1980 to $7B 199M in 2024, showing an overall 11327.0% sharply increased during the period.
The lowest GDP was recorded in 1980 at $63M, and the highest in 2024 at $7B 199M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 11.4%.
For comparison, the average annual growth rate of Sri Lanka was 6.6%, and that of India was 7.2%.
Overview of Maldives's GDP (1980–2024)
The Gross Domestic Product (GDP) of Maldives recorded a 11327.0% sharply increased from 1980 to 2024.
The average GDP during this period was $1B 960M, and the median was $828M.
GDP fluctuated within a range of $7B 136M, with a standard deviation of $2B 104M.
The average annual change was $146M 574K.
Maldives GDP from 1980 to 2024
The total market value of goods and services produced annually in Maldives.
Highest and Lowest GDP Records
- Lowest GDP: 1980, $63M
- Highest GDP: 2024, $7B 199M
- Most Recent GDP: 2024, $7B 199M
Notable Annual GDP Changes
- 2021: Significant increase in GDP
- 2020: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Maldives's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $5B 599M → $3B 739M
- Outcome: sharply declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $1B 868M → $2B 345M
- Outcome: sharply increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $801M → $767M
- Outcome: declined
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $652M → $693M
- Outcome: increased
Key Economic Indicators of Maldives (1980–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 63M | $ 412.51 | $ 1,796.99 | $ 273M | 18.803 % | -16.078 % | −0.65 % | 0 % | 152,000 people |
1981 | $ 73M | $ 464.91 | $ 2,042.05 | $ 322M | 7.886 % | -6.215 % | 11.47 % | 0 % | 158,000 people |
1982 | $ 87M | $ 534.91 | $ 2,259.06 | $ 368M | 7.466 % | -4.633 % | 11.51 % | 0 % | 163,000 people |
1983 | $ 94M | $ 560.24 | $ 2,364.64 | $ 399M | 4.414 % | -11.079 % | 14.60 % | 0 % | 169,000 people |
1984 | $ 113M | $ 646.39 | $ 2,777.73 | $ 485M | 17.379 % | -3.406 % | 20.34 % | 0 % | 175,000 people |
1985 | $ 134M | $ 737.78 | $ 3,136.30 | $ 569M | 13.801 % | 4.345 % | 25.58 % | 0 % | 182,000 people |
1986 | $ 158M | $ 835.64 | $ 3,346.46 | $ 631M | 8.596 % | 6.851 % | 24.80 % | 0 % | 189,000 people |
1987 | $ 149M | $ 769.82 | $ 3,638.84 | $ 704M | 8.866 % | 13.167 % | 37.31 % | 0 % | 193,000 people |
1988 | $ 178M | $ 897.93 | $ 3,991.95 | $ 792M | 8.722 % | 12.213 % | 37.06 % | 0 % | 198,000 people |
1989 | $ 201M | $ 987.81 | $ 4,419.08 | $ 900M | 9.292 % | 10.958 % | 37.82 % | 0 % | 204,000 people |
1990 | $ 231M | $ 1,091.55 | $ 4,233.67 | $ 896M | -4.049 % | 12.404 % | 40.47 % | -12.2 % | 212,000 people |
1991 | $ 262M | $ 1,184.66 | $ 4,467.95 | $ 990M | 6.896 % | 2.377 % | 30.45 % | -9.421 % | 222,000 people |
1992 | $ 306M | $ 1,343.01 | $ 4,731.91 | $ 1B 78M | 6.467 % | -6.411 % | 21.66 % | -11.939 % | 228,000 people |
1993 | $ 346M | $ 1,479.45 | $ 4,970.23 | $ 1B 163M | 5.417 % | -15.538 % | 12.53 % | -13.07 % | 234,000 people |
1994 | $ 382M | $ 1,591.14 | $ 5,315.50 | $ 1B 277M | 7.505 % | -2.906 % | 25.16 % | -4.204 % | 240,000 people |
1995 | $ 466M | $ 1,903.13 | $ 5,718.76 | $ 1B 400M | 7.377 % | -3.902 % | 24.17 % | -5.907 % | 245,000 people |
1996 | $ 527M | $ 2,107.61 | $ 6,217.10 | $ 1B 555M | 9.084 % | -1.412 % | 26.66 % | -1.787 % | 250,000 people |
1997 | $ 652M | $ 2,553.95 | $ 6,974.69 | $ 1B 782M | 12.628 % | -5.32 % | 22.75 % | -2.05 % | 255,000 people |
1998 | $ 693M | $ 2,658.80 | $ 7,584.81 | $ 1B 978M | 9.777 % | -3.153 % | 24.92 % | -2.431 % | 261,000 people |
1999 | $ 756M | $ 2,842.66 | $ 8,083.63 | $ 2B 151M | 7.232 % | -10.435 % | 9.56 % | -2.947 % | 266,000 people |