The Gross Domestic Product (GDP) in Maldives expanded 7.60 percent in 2018 from the previous year. Maldives GDP Annual Growth Rate - data, historical chart, and calendar of releases - was last updated on February of 2020 from its official source.

GDP Annual Growth Rate in Maldives averaged 6.25 percent from 1997 until 2018, reaching an all time high of 19.60 percent in 2006 and a record low of -8.70 percent in 2005. This page provides - Maldives GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP Annual Growth Rate in Maldives is expected to reach 6.00 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Maldives GDP Annual Growth Rate is projected to trend around 5.30 percent in 2021, according to our econometric models.

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Maldives GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
5.70 6.90 19.60 -8.70 1997 - 2018 percent Yearly

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.