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Country Information - Maldives - SAARCFINANCE - Reserve Bank of India
Maldives's Economy at a Glance
Updated as on 05, 2018
| KEY ECONOMIC INDICATORS OF MALDIVES | ||||||||||||||
| Unit | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | |
| I. Real Sector | ||||||||||||||
| Per Capita GDP/1 | US$ | 3666.6 | 3307.3 | 4161.5 | 4656.7 | 5404.4 | 5585.4 | 5903.3 | 6041.3 | 5974.5 | 6410.7 | 6858.9 | 7338.7 | NA |
| Real GDP Growth/2 | % | 13.2 | -8.1 | 19.9 | 10.2 | 12.7 | -5.3 | 7.2 | 8.7 | 2.5 | 4.7 | 6.0 | 2.8 | 3.9 |
| GDP/3 | Million US$ | 1202.2 | 1119.8 | 1474.7 | 1746.0 | 2110.0 | 2149.3 | 2323.4 | 2454.9 | 2509.3 | 2785.5 | 3086.2 | 3423.3 | 3765.6 |
| Agriculture | % of GDP | 5.4 | 6.9 | 5.7 | 5.0 | 5.1 | 4.0 | 4.0 | 3.6 | 3.4 | 3.3 | 3.0 | 2.8 | NA |
| Industry | % of GDP | 11.9 | 13.6 | 11.9 | 11.7 | 16.2 | 13.9 | 14.3 | 16.6 | 17.1 | 15.0 | 16.6 | 19.5 | NA |
| Services | % of GDP | 74.3 | 71.5 | 74.8 | 76.3 | 72.3 | 78.7 | 77.8 | 72.2 | 71.9 | 72.0 | 70.2 | 66.4 | NA |
| Investment | % of GDP | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| National Savings | % of GDP | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| Headline Inflation/4 | % | -1.7 | 1.3 | 2.7 | 6.8 | 12.0 | 4.5 | 6.1 | 11.3 | 10.9 | 3.8 | 2.1 | 1.0 | 0.5 |
| Food Inflation/5 | % | 16.0 | 7.8 | 4.0 | 16.2 | 19.1 | 0.5 | 7.5 | 19.9 | 17.6 | 7.2 | 0.7 | 0.5 | 0.6 |
| Non-Food Inflation/6 | % | NA | NA | NA | NA | NA | NA | NA | NA | NA | 1.4 | 2.7 | 1.1 | 0.5 |
| Core inflation | % | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| II. Fiscal Sector | ||||||||||||||
| Revenue Collection (CSR)/7 | Million US$ | 267.6 | 360.4 | 480.8 | 591.5 | 582.5 | 448.0 | 511.5 | 673.3 | 658.7 | 773.3 | 985.3 | 1126.0 | 1181.0 |
| Fiscal Deficit (excluding grants) | % of GDP | -1.5 | -13.0 | -8.9 | -7.9 | -12.0 | -20.5 | -14.9 | -8.6 | -8.6 | -4.4 | -3.2 | -9.0 | -8.2 |
| Fiscal Deficit (including grants) | % of GDP | -1.0 | -7.3 | -4.3 | -3.2 | -10.1 | -19.0 | -14.4 | -6.6 | -7.7 | -4.1 | -2.9 | -7.8 | -7.4 |
| Public Debt/8 | % of GDP | NA | NA | NA | NA | NA | NA | 66.4 | 63.1 | 66.1 | 66.2 | 66.0 | 63.1 | 65.8 |
| - of which foreign currency(debt) /8 | % of GDP | 25.9 | 27.7 | 23.1 | 22.2 | 20.8 | 24.0 | 26.4 | 27.3 | 28.7 | 26.8 | 22.6 | 19.3 | 20.3 |
| - domestic debt | % of GDP | NA | NA | NA | NA | NA | NA | 40.0 | 35.7 | 37.4 | 39.4 | 43.4 | 43.8 | 45.5 |
| - debt servicing9/ | % of total revenue | 10.5 | 8.6 | 5.5 | 5.6 | 8.2 | 10.8 | 9.9 | 9.5 | 11.1 | 7.9 | 7.8 | 6.4 | 6.8 |
| III. External Sector/10 | ||||||||||||||
| Exports (f.o.b) | Million US$ | NA | NA | NA | NA | NA | NA | NA | 346.4 | 314.4 | 331.0 | 300.9 | 239.5 | 257.1 |
| Imports (f.o.b.) | Million US$ | NA | NA | NA | NA | NA | NA | NA | 1716.8 | 1575.8 | 1703.0 | 1960.9 | 1894.5 | 2096.6 |
| Trade Deficit/11 | Million US$ | NA | NA | NA | NA | NA | NA | NA | -1370.5 | -1261.4 | -1372.0 | -1660.0 | -1655.0 | -1839.5 |
| Remittances | Million US$ | NA | NA | NA | NA | NA | NA | NA | 239.4 | 259.3 | 265.0 | 300.8 | 347.8 | 378.6 |
| Current Account Balance | Million US$ | NA | NA | NA | NA | NA | NA | NA | -383.4 | -184.5 | -127.4 | -117.8 | -294.1 | -840.0 |
| Current Account Balance | % of GDP | NA | NA | NA | NA | NA | NA | NA | -15.6 | -7.4 | -4.6 | -3.8 | -8.6 | -22.3 |
| Total Foreign Investment | Million US$ | NA | NA | NA | NA | NA | NA | NA | -416.4 | -187.7 | -67.4 | -543.9 | -491.0 | -811.7 |
| - Foreign Direct Investment | Million US$ | NA | NA | NA | NA | NA | NA | NA | -423.5 | -228.0 | -360.8 | -333.4 | -307.7 | -448.0 |
| - Portfolio Investment | Million US$ | NA | NA | NA | NA | NA | NA | NA | -0.1 | -53.1 | 53.3 | 17.2 | -122.9 | 5.1 |
| External Debt and Forex Liabilities | Million US$ | 315.7 | 379.3 | 536.6 | 796.3 | 861.5 | 917.1 | 949.5 | 895.2 | 813.8 | 791.5 | 743.5 | 695.5 | 848.2 |
| External Debt and Forex Liabilities/12 | % of forex earnings | NA | NA | NA | NA | NA | NA | NA | 36.6 | 32.7 | 27.2 | 22.5 | 22.1 | 25.2 |
| Short-term debt to GDP | % | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| External Debt Servicing Ratio/13 | *** | NA | NA | NA | NA | NA | NA | NA | 2.6 | 2.9 | 2.1 | 2.3 | 2.3 | 2.4 |
| Exchange Rate/14 | Per US$ | 12.8 | 12.8 | 12.8 | 12.8 | 12.8 | 12.8 | 12.8 | 15.41 | 15.37 | 15.41 | 15.40 | 15.41 | 15.35 |
| Foreign Exchange Reserves | Million US$ | 203.6 | 186.4 | 231.6 | 308.4 | 240.6 | 261.0 | 350.2 | 334.9 | 304.5 | 368.3 | 614.7 | 564.0 | 467.1 |
| IV. Monetary & Capital Market | ||||||||||||||
| Growth Rate of M1/ 15 | y-o-y | 19.7 | 22.5 | 22.2 | 20.0 | 37.1 | 22.3 | 1.1 | 8.7 | 2.9 | 23.6 | 7.8 | 18.7 | 1.0 |
| Growth Rate of M2/16 | y-o-y | 31.4 | 10.6 | 18.9 | 24.1 | 21.8 | 14.4 | 14.6 | 20.0 | 4.9 | 18.4 | 14.9 | 12.1 | -0.2 |
| Growth Rate of M3/17 | y-o-y | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA |
| Weighted Avg Lending Rate/18 | % | NA | NA | NA | NA | NA | NA | 10.4 | 10.2 | 10.5 | 11.4 | 11.4 | 10.8 | 10.6 |
| Credit growth to Private Sector | % | 58.2 | 59.7 | 48.6 | 49.4 | 29.7 | -4.1 | -2.3 | 5.9 | -9.9 | 0.9 | 2.8 | 11.7 | 10.5 |
| Stock Market (Price Index)/19 | 2002=100 | 239.6 | 199.8 | 137.6 | 342.7 | 287.1 | 229.6 | 211.2 | 157.4 | 149.7 | 114.6 | 134.1 | 156.5 | 155.0 |
| Market Capitalisation (as leading stock mkt) | Domestic Currency in million | 1334.9 | 1113.3 | 766.8 | 2681.7 | 2246.1 | 1862.0 | 1726.1 | 1286.9 | 7743.4 | 5926.3 | 6963.0 | 8122.8 | 8048.6 |
| Market Capitalisation (as leading stock mkt) | % of GDP | 8.7 | 7.8 | 4.1 | 12.0 | 8.3 | 6.8 | 5.8 | 3.6 | 20.0 | 13.8 | 14.6 | 15.4 | 13.9 |
| Market Capitalisation (as leading stock mkt) | million US$ | 104.3 | 87.0 | 59.9 | 209.5 | 175.5 | 145.5 | 134.8 | 83.5 | 503.8 | 384.6 | 452.1 | 527.1 | 524.3 |
| V. Banking Sector Indicators (information provided are annual figures) |
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| Capital adequacy ratio | % | 19.8 | 17.2 | 17.5 | 21.0 | 24.7 | 28.9 | 29.3 | 35.8 | 35.1 | 44.5 | 41.5 | 44.6 | |
| Non performing loans | % | 6.4 | 2.4 | 1.6 | 8.9 | 12.7 | 17.2 | 19.4 | 21.0 | 17.7 | 17.4 | 13.6 | 10.5 | |
| Profitability (R.O.E.) | % | 37.0 | 53.5 | 30.8 | 19.0 | 13.8 | 11.7 | 15.0 | 13.8 | 23.5 | 20.3 | 17.2 | 20.2 | |
| Profitability (R.O.A.) | % | 4.5 | 6.4 | 4.1 | 3.1 | 2.2 | 2.0 | 2.6 | 2.6 | 5.0 | 4.6 | 3.8 | 4.7 | |
| * The last column of the table will be updated on half yearly basis and 1st column of yearly data will be taken out with inclusion of new year data. | ||||||||||||||
| *** The ratio of debt service (interest and principal payments due) during a year, expressed as a percentage of current receipts minus official transfers. (This is the formula used while computing DSR in India). | ||||||||||||||
| Footnotes | ||||||||||||||
| 1 - Refers to nominal GDP per capita (PPP $). | ||||||||||||||
| 2 - Real GDP at market prices. | ||||||||||||||
| 3 - GDP by sector as a percent of GDP, agriculture refers to primary sector, industry refers to secondary sector and services refer to tertiary sector. | ||||||||||||||
| 4 - Maldives national series 12 month moving average is taken for Headline Inflation and Food Inflation. | ||||||||||||||
| 5 - Refers to inflation in "Food and non-alcoholic beverages" for the national series. | ||||||||||||||
| 6 - Since CPI basket was rebased in June 2012, nonfood inflation series is not available as data is not available for the period before June 2012. | ||||||||||||||
| 7 - Revenue collection (CSR) is the total revenue including grants. The exchange rate (MVR/USD) used applied from 2004-2010 is 12.80; to 2011 is 14.71; 2012-2014 is 15.39; 2015-2016 is 15.37. These are the average of the monthly reference rates (mid-rate of the buying and selling rates) for the year. |
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| 8 - This represents central government debt only. | ||||||||||||||
| 9 - This refers to external debt servicing calculated as a percentage of domestic revenue. | ||||||||||||||
| 10 - Balance of payments data is only available from 2011 onwards as the methodology and assumptions of BOP data have been revised. | ||||||||||||||
| 11 - Indicates balance of goods only | ||||||||||||||
| 12 - Government and Commercial Banks' External Debt stock outstanding divided by Export of Goods and Services (XGS). | ||||||||||||||
| 13 - Debt service (Principle and Interest Payment) divided by Export of Goods and Services (XGS) minus grants | ||||||||||||||
| 14 - End of period reference rate. | ||||||||||||||
| 15 - This refers to the narrow money. | ||||||||||||||
| 16 - This refers to the broad money or total liquidity. | ||||||||||||||
| 17 - M3 is not calculated in Maldives. | ||||||||||||||
| 18 - This refers to the Weighted average lending rate to the private sector in national currency which is available from 2010 onwards. | ||||||||||||||
| 19 - Stock market index (2002=100) represents the end of period. | ||||||||||||||
| 20 - NA refers to not available. | ||||||||||||||
