Current account balance in Maldives
Maldives: Current account balance was -18.7% in 2024. ◆ Volatile
Current account balance in Maldives, 1978–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Maldives recorded -18.7% for current account balance in 2024.
Compared with earlier readings it is up 11.6% on the previous year and down 486.2% over ten years.
Over the whole period, current account balance in Maldives peaked at 6.6% in 1978 and was at its lowest, -52.3%, in 1980.
That places Maldives 186th out of 200 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance in Maldives, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1978 | 6.6% | — |
| 1979 | -12.5% | -289.8% |
| 1980 | -52.3% | +319.6% |
| 1981 | -45.1% | -13.7% |
| 1982 | -39.9% | -11.6% |
| 1983 | -41.8% | +5.0% |
| 1984 | -14.9% | -64.4% |
| 1985 | -4.3% | -70.9% |
| 1986 | -0.2% | -95.2% |
| 1987 | 5.7% | -2842.0% |
| 1988 | 5.4% | -5.9% |
| 1989 | 5.6% | +4.4% |
| 1990 | 4.6% | -18.2% |
| 1991 | -3.7% | -180.2% |
| 1992 | -6.9% | +87.5% |
| 1993 | -16.7% | +142.1% |
| 1994 | -3.1% | -81.3% |
| 1995 | -4.6% | +45.9% |
| 1996 | -1.7% | -63.7% |
| 1997 | -6.8% | +313.1% |
| 1998 | -4.0% | -40.7% |
| 1999 | -13.4% | +230.9% |
| 2000 | -8.2% | -38.4% |
| 2001 | -6.7% | -18.1% |
| 2002 | -4.0% | -41.2% |
| 2003 | -3.0% | -25.0% |
| 2004 | -10.0% | +235.2% |
| 2005 | -23.5% | +135.4% |
| 2006 | -19.2% | -18.3% |
| 2007 | -14.4% | -24.9% |
| 2008 | -26.9% | +87.1% |
| 2009 | -9.4% | -65.0% |
| 2010 | -7.6% | -19.5% |
| 2011 | -13.8% | +82.4% |
| 2012 | -6.4% | -53.7% |
| 2013 | -3.9% | -39.5% |
| 2014 | -3.2% | -17.6% |
| 2015 | -7.3% | +129.3% |
| 2016 | -23.4% | +220.4% |
| 2017 | -21.3% | -9.2% |
| 2018 | -27.8% | +30.7% |
| 2019 | -25.8% | -7.1% |
| 2020 | -35.7% | +38.5% |
| 2021 | -8.6% | -75.9% |
| 2022 | -16.9% | +95.4% |
| 2023 | -21.1% | +25.3% |
| 2024 | -18.7% | -11.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | -2.9% | -12.5% | 6.6% | 2 |
| 1980s | -18.2% | -52.3% | 5.7% | 10 |
| 1990s | -5.6% | -16.7% | 4.6% | 10 |
| 2000s | -12.5% | -26.9% | -3.0% | 10 |
| 2010s | -14.0% | -27.8% | -3.2% | 10 |
| 2020s | -20.2% | -35.7% | -8.6% | 5 |
Countries ranked near Maldives
- 183 Palestine, State of -15.8% compare
- 184 Saint Vincent and the Grenadines -16.1% compare
- 185 Kiribati -17.6% compare
- 187 Malawi -18.8% compare
- 188 Bhutan -19.4% compare
- 189 Republic of Moldova -19.6% compare
More economy & growth data for Maldives
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 4.5 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 4.5 Percent per annum (2029)
- Imports of goods and services (constant 2015 US$), annual growth rate 12.38 % change on previous year (2024)
- Imports of goods and services (constant 2015 US$), per unit of GDP 0.5959 constant 2015 US$ per US$ of GDP (2024)
- Imports of goods and services (constant 2015 US$), per capita 7,972 constant 2015 US$ per person (2024)
- External balance on goods and services (current US$), annual growth 96.15 % change on previous year (2024)
- External balance on goods and services (current LCU), annual growth 96.15 % change on previous year (2024)
- Agriculture, forestry, and fishing, value added (current LCU), annual 31.21 % change on previous year (2025)
- Agriculture, forestry, and fishing, value added (current LCU), per 0.7077 current LCU per US$ of GDP (2025)
- Agriculture, forestry, and fishing, value added (current LCU), per 10,343 current LCU per person (2025)
Frequently asked questions
- What is current account balance in Maldives?
- Current account balance in Maldives was -18.7% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest current account balance recorded in Maldives?
- The highest recorded value was 6.6% in 1978.
- What is the lowest current account balance recorded in Maldives?
- The lowest recorded value was -52.3% in 1980.
- How does Maldives rank for current account balance?
- Maldives ranks 186th out of 200 countries with data for 2024.
- Is current account balance rising or falling in Maldives?
- Over the last ten years it is down 486.2%. The long-run trend across the full record is volatile.
- Where does this Maldives data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Current account balance (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Balance of current transactions (transactions in goods and services, earned income and transfer income) between residents and non-residents. The term current account balance is used in the external accounts and is expressed from the perspective of resident units. The term current external balance is used in the national accounts and is expressed from the perspective of the non-resident units, and therefore with the opposite sign. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.