The Gross Domestic Product (GDP) in Maldives contracted 5.90 percent in the first quarter of 2020 over the same quarter of the previous year.

GDP Annual Growth Rate in Maldives averaged 6.13 percent from 1997 until 2020, reaching an all time high of 19.60 percent in the fourth quarter of 2006 and a record low of -8.70 percent in the fourth quarter of 2005. This page provides - Maldives GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Maldives GDP Annual Growth Rate - values, historical data and charts - was last updated on September of 2020.

GDP Annual Growth Rate in Maldives is expected to be -17.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Maldives to stand at 11.00 in 12 months time. In the long-term, the Maldives GDP Annual Growth Rate is projected to trend around 8.50 percent in 2021 and 5.30 percent in 2022, according to our econometric models.

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Maldives GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-5.90 8.70 19.60 -8.70 1997 - 2020 percent Quarterly

Maldives GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate -5.90 8.70 19.60 -8.70 percent [+]
GDP 5.73 5.33 5.73 0.04 USD Billion [+]
GDP per capita 8209.50 8033.30 8209.50 4599.60 USD [+]
GDP per capita PPP 18914.30 18508.50 18914.30 10597.40 USD [+]
GDP Constant Prices 75217.60 71025.90 75217.60 20041.00 MVR Million [+]
GDP From Agriculture 3461.00 3302.00 3914.00 2298.00 MVR Million [+]
GDP From Construction 4622.00 4108.00 4622.00 441.00 MVR Million [+]
GDP From Public Administration 5861.00 5554.00 5861.00 930.00 MVR Million [+]
GDP From Services 52898.00 49650.00 52898.00 14720.00 MVR Million [+]
GDP From Transport 3987.00 3935.00 3988.00 1310.00 MVR Million [+]
GDP From Utilities 1201.20 1053.00 1201.20 75.00 MVR Million [+]


Maldives GDP Annual Growth Rate
Maldives is a small island nation, having 90 percent of its territory covered in water. Tourism, fishing and shipping are the most important sectors of the economy. Tourism accounts for more than 30 percent of GDP and over 60 percent of foreign currency earnings. Yet, fishing is the country’s largest employer. The government controls a large part of the economy and 90 percent of its revenue comes from tourism and trade tariffs. Following the ousting of President Nasheed, foreign direct investment has declined due to uncertainty surrounding the country’s political future.