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Economy of Ecuador vs Maldives compared: GDP & Debt

Updated on by Georank team

Ecuador has a GDP of $125B compared to $7.06B for Maldives, ranking 62/197 and 159/197 by economy size, respectively.

Ecuador has $67B in government debt (53.8% of GDP), compared to $9.41B (133.3% of GDP) in Maldives.

Ecuador vs Maldives GDP by year

Ecuador
Maldives
1x
Year GDP, current $
Ecuador Maldives
2024 $124,676,074,700 $7,061,608,267
2023 $121,147,057,000 $6,621,008,704
2022 $116,133,121,000 $6,177,123,352
2021 $107,179,074,000 $5,252,457,370
2020 $95,865,473,000 $3,712,604,583
2019 $107,595,830,000 $5,726,094,799
2018 $107,478,961,000 $5,404,344,163
2017 $104,467,486,000 $4,816,426,257
2016 $97,671,433,000 $4,409,942,624
2015 $97,209,558,000 $4,129,505,319
2014 $102,717,794,000 $3,697,353,039
2013 $96,570,334,000 $3,295,009,238
2012 $87,735,048,000 $2,886,163,997
2011 $78,986,648,000 $2,774,350,240
2010 $68,151,329,000 $2,588,176,055
2009 $60,094,978,000 $2,345,294,875
2008 $61,139,438,000 $2,271,646,188
2007 $49,848,725,000 $1,868,383,461
2006 $45,690,762,000 $1,575,200,391
2005 $40,278,849,000 $1,163,362,438
2004 $35,194,947,000 $1,226,829,563
2003 $30,965,208,000 $1,052,121,055
2002 $27,054,197,000 $897,031,250
2001 $23,127,055,000 $870,031,677
2000 $17,539,454,727 $624,337,145
1999 $19,645,272,636 $589,239,754
1998 $27,981,896,948 $540,096,398
1997 $28,162,053,027 $508,223,602
1996 $25,226,393,197 $450,382,328
1995 $24,432,884,442 $398,988,955
1994 $22,708,673,337 $356,014,932
1993 $18,938,717,359 $322,417,837
1992 $18,094,238,119 $284,875,809
1991 $16,988,535,268 $244,396,762
1990 $15,239,272,612 $215,043,970
1989 $13,890,823,705 $189,514,434
1988 $13,051,881,851 $168,514,513
1987 $13,945,426,859 $141,223,029
1986 $15,314,138,472 $141,882,254
1985 $17,149,088,413 $127,190,758
1984 $16,912,509,092 $109,503,546
1983 $17,152,477,037 $57,829,787
1982 $19,929,846,396 $47,911,340
1981 $21,810,759,354 $44,781,457
1980 $17,881,508,242 $42,463,576
1979 $14,175,160,902 $38,523,364
1978 $11,922,497,876 $24,369,109
1977 $11,026,342,618 $20,853,789
1976 $9,091,921,030 $22,399,467
1975 $7,731,674,472 $24,540,878
1974 $6,599,257,044 $39,120,171
1973 $3,891,754,150 $30,862,042
1972 $3,185,986,087 $25,177,138
1971 $2,754,219,271 $21,566,404
1970 $2,862,503,139 $19,328,038
1969 $3,112,165,727 -
1968 $2,582,179,864 -
1967 $2,553,595,172 -
1966 $2,429,308,639 -
1965 $2,387,047,396 -
1964 $2,244,146,103 -
1963 $1,824,343,871 -
1962 $1,518,207,703 -
1961 $1,753,850,955 -
1960 $2,069,464,937 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/ecuador/maldives | CC BY

GDP per capita in Ecuador vs Maldives by year

Ecuador
GDP per capita

GDP per capita, PPP
Maldives
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ecuador Maldives
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,875 $15,840 $13,379 $26,183
2023 $6,738 $15,919 $12,588 $24,786
2022 $6,516 $15,198 $11,786 $22,881
2021 $6,061 $13,507 $10,176 $19,053
2020 $5,464 $11,527 $7,394 $13,425
2019 $6,205 $12,543 $11,740 $23,077
2018 $6,304 $12,187 $11,423 $21,899
2017 $6,233 $11,793 $10,510 $19,768
2016 $5,918 $10,881 $9,948 $18,770
2015 $5,976 $10,878 $9,645 $17,875
2014 $6,406 $11,836 $8,939 $16,723
2013 $6,109 $11,296 $8,236 $15,264
2012 $5,634 $10,245 $7,461 $13,989
2011 $5,154 $9,769 $7,425 $13,726
2010 $4,520 $8,969 $7,174 $12,797
2009 $4,053 $8,662 $6,734 $12,266
2008 $4,195 $8,663 $6,757 $13,779
2007 $3,479 $8,112 $5,758 $12,852
2006 $3,244 $7,885 $5,019 $12,075
2005 $2,909 $7,457 $3,797 $9,704
2004 $2,586 $6,980 $4,070 $10,770
2003 $2,316 $6,475 $3,549 $10,065
2002 $2,059 $6,282 $3,076 $8,823
2001 $1,791 $5,999 $3,034 $8,236
2000 $1,382 $5,728 $2,214 $8,526
1999 $1,575 $5,638 $2,124 $8,162
1998 $2,284 $5,940 $1,980 $7,710
1997 $2,341 $5,793 $1,898 $7,226
1996 $2,136 $5,560 $1,717 $6,687
1995 $2,108 $5,469 $1,555 $6,223
1994 $1,997 $5,339 $1,419 $5,520
1993 $1,698 $5,112 $1,317 $5,138
1992 $1,655 $4,998 $1,194 $4,881
1991 $1,587 $4,887 $1,054 $4,604
1990 $1,455 $4,632 $957 $4,528
1989 $1,356 - $870 -
1988 $1,304 - $799 -
1987 $1,426 - $692 -
1986 $1,604 - $720 -
1985 $1,842 - $669 -
1984 $1,864 - $594 -
1983 $1,940 - $323 -
1982 $2,314 - $274.8 -
1981 $2,601 - $264.1 -
1980 $2,190 - $257.6 -
1979 $1,783 - $240.2 -
1978 $1,541 - $156.1 -
1977 $1,465 - $137.3 -
1976 $1,242 - $151.8 -
1975 $1,086 - $171.4 -
1974 $954 - $281.5 -
1973 $579 - $228.7 -
1972 $488 - $192.2 -
1971 $434 - $169.8 -
1970 $465 - $156.9 -
1969 $521 - - -
1968 $445 - - -
1967 $454 - - -
1966 $445 - - -
1965 $450 - - -
1964 $436 - - -
1963 $365 - - -
1962 $312 - - -
1961 $371 - - -
1960 $451 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/ecuador/maldives | CC BY

Ecuador's GDP per capita is $6,875, ranking 103/197, compared to $13,379 in Maldives, ranking 75/197. Adjusted for purchasing power (GDP per capita PPP), Ecuador ranks 110th at $15,840, while Maldives ranks 81st at $26,183.

Economic indicators

Ecuador Maldives
Gross domestic product
$125B
2024
$7.06B
2024
GDP rank
62/197
2024
159/197
2024
GDP growth
-2%
2023-2024
3.49%
2023-2024
GDP per capita
$6,875
2024
$13,379
2024
GDP per capita rank
103/197
2024
75/197
2024
GDP per capita, PPP
$15,840
2024
$26,183
2024
GDP per capita PPP rank
110/197
2024
81/197
2024
Government debt
$67B
2024
$9.41B
2024
Debt-to-GDP ratio
53.8%
2024
133.3%
2024
Government debt per person
$3,695
2024
$17,837
2024
Government debt per person rank
93/185
2024
35/185
2024
Average annual personal income after taxes
$5,894
2026
$9,909
2026
Market capitalization of domestic companies
$747M
2000
n/a
Income share by richest 10%
33.4%
2024
23.3%
2019
Income share by poorest 10%
1.5%
2024
3.8%
2019
Government expenditure, % of GDP
38.1%
2024
46.1%
2024
Consumer prices inflation
1.55%
2023-2024
1.4%
2023-2024
Unemployment rate
3.39%
2024
4.56%
2019
Population
18487749
532057

Spending and national debt comparison by year

Ecuador
Spending

Debt
Maldives
Spending

Debt
1x
Year % of GDP
Ecuador Maldives
Government spending Government debt Government spending Government debt
2024 38.1% 53.8% 46.1% 133.3%
2023 39.5% 54.3% 46.7% 122.4%
2022 38.9% 57.2% 42% 111.6%
2021 37.5% 61.8% 40.6% 123.4%
2020 40.2% 63.6% 50.4% 155.7%
2019 39.8% 52.1% 32.9% 77.2%
2018 40.9% 49.5% 31.9% 70.7%
2017 40.5% 47.4% 30.4% 63.8%
2016 44.1% 46.1% 37.3% 61.9%
2015 44.1% 36.4% 33.8% 54.8%
2014 45.9% 28.2% 29.1% 55.1%
2013 46.7% 23.4% 27% 55.9%
2012 43.2% 19.3% 29.8% 57.1%
2011 39.6% 18.6% 31.3% 51.9%
2010 35.4% 18.4% 33.2% 52.7%
2009 34.3% 19.7% 37% 48.4%
2008 35.6% 24.9% 35.6% 39%
2007 24.7% 29.6% 34.8% 35.8%
2006 21.7% 33.1% 35% 36.8%
2005 22% 35.8% 38.8% 43.2%
2004 21.3% 40.2% 24.1% 34.7%
2003 21.3% 47.2% 26.4% 37.6%
2002 22.8% 55% 29.6% 44.3%
2001 21.4% 63.8% 29.6% 41.8%
2000 24.3% 92.2% 29% 39%
1999 24.1% 105.2% 28% 38.9%
1998 21.5% 70.3% 25.9% 39.3%
1997 22% 61.5% 25.2% 38.1%
1996 22.7% 69.3% 27.3% 46.9%
1995 22% 70.5% 31.3% 52.2%
1994 - - 30.7% 54.6%
1993 - - 34.7% 55.7%
1992 - - 36.1% 49%
1991 - - 37.7% 46.7%
1990 - - 33.3% 42.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1990–2000, retrieved 2026-02-20).

GeoRank.org/economy/ecuador/maldives | CC BY

In 2024, Ecuador's government spending was $47.5B, accounting for 38.1% of its GDP, while Maldives spent $3.25B, or 46.1% of GDP.

Debt-to-GDP ratio is 53.8% in Ecuador and 133.3% in Maldives, ranking 98/185 and 10/185, respectively.

Government deficit by year

Deficit/surplus
Ecuador

Maldives
1x
Year Deficit/surplus, % of GDP
Ecuador Maldives
2024 -1.28% -13.9%
2023 -3.48% -13.2%
2022 0.04% -11.2%
2021 -1.59% -14.2%
2020 -7.38% -23.7%
2019 -3.47% -6.54%
2018 -2.8% -5.17%
2017 -5.77% -3.02%
2016 -10.3% -9.93%
2015 -6.87% -6.52%
2014 -8.11% -2.42%
2013 -8.17% -3.49%
2012 -2.83% -6.91%
2011 -0.13% -8.13%
2010 -1.39% -13.6%
2009 -3.71% -17.9%
2008 0.57% -9.92%
2007 2.66% -3.16%
2006 2.92% -4.52%
2005 0.66% -7.81%
2004 1.94% -2.26%
2003 1.05% -3.45%
2002 0.74% -3.97%
2001 0.03% -3.97%
2000 -0.32% -3.89%
1999 -4.82% -3.03%
1998 -5.1% -2.25%
1997 -2.83% -1.46%
1996 -3.44% -2.01%
1995 -2.02% -5.66%
1994 - -4.82%
1993 - -13.9%
1992 - -12.6%
1991 - -10.2%
1990 - -12.8%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/ecuador/maldives | CC BY

In 2024, Ecuador's government deficit, the difference between spending and revenue, was $1.59B, equivalent to 1.28% of GDP. This compares to Maldives' deficit of $982M, or 13.9% of GDP.

Over the past 30 years, Ecuador recorded a fiscal deficit in 21 of those years, while Maldives ran a deficit in 30 years. On average, Ecuador posted an annual deficit equal to 2.51% of GDP, compared to deficit of 7.24% of GDP for Maldives.

Inflation comparison by year

Inflation
Ecuador

Maldives
1x
Year Consumer prices inflation
Ecuador Maldives
2024 1.55% 1.4%
2023 2.22% 2.6%
2022 3.47% 2.6%
2021 0.13% 0.2%
2020 -0.34% -1.6%
2019 0.27% 1.3%
2018 -0.22% 1.4%
2017 0.42% 2.3%
2016 1.73% 0.8%
2015 3.97% 1.4%
2014 3.59% 2.4%
2013 2.72% 4%
2012 5.1% 10.9%
2011 4.47% 11.3%
2010 3.55% 6.1%
2009 5.16% 4.5%
2008 8.4% 12%
2007 2.28% 6.8%
2006 3.3% 3.5%
2005 2.17% 2.5%
2004 2.74% 6.3%
2003 7.93% -2.8%
2002 12.5% 0.9%
2001 37.7% 0.7%
2000 96.1% -1.2%
1999 52.2% 3%
1998 36.1% -1.4%
1997 30.7% 7.6%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/ecuador/maldives | CC BY

Over the past 28 years, Ecuador has recorded an average annual inflation rate of 11.8%, compared with 3.2% in Maldives. In 2024, inflation was 1.55% in Ecuador and 1.4% in Maldives.

Top exports between countries

Ecuador
Export category Export value
Raw agricultural goods $323K
Wood & paper products $181K
Textiles & consumer goods $3K
Maldives
Export category Export value
Animal & marine products $37K

Balance of trade

Ecuador Maldives
Current account balance
$7.06B
2024
-$1.32B
2024
Current account balance ranking
27/190
2024
130/190
2024
Current account balance, % of GDP
+5.66%
2024
-18.7%
2024
Goods imports
$27.9B
2024
$3.46B
2024
Goods exports
$34.7B
2024
$383M
2024
Service imports
$6.18B
2024
$1.89B
2024
Service exports
$3.86B
2024
$5.03B
2024
Imports of goods and services, % of GDP
26.9%
2024
78.3%
2024
Exports of goods and services, % of GDP
30.3%
2024
78.2%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Ecuador Maldives
Economic freedom 55.6 47.6
Economic freedom ranking 127/197 174/197
Property rights 33.2 52.2
Government integrity 33 41.9
Judicial effectiveness 48.1 39.3
Tax burden 74.2 89.9
Government spending 54.9 39.5
Fiscal health 90.3 0
Business freedom 64.3 49.7
Labor freedom 56.9 54.1
Monetary freedom 76.3 76.4
Trade freedom 66.4 62.8
Investment freedom 30 35
Financial freedom 40 30

Economic freedom comparison by year

Ecuador
Maldives
1x
Year Economic freedom index
Ecuador Maldives
2026 55.6 47.6
2025 55.8 48.3
2024 55 47.8
2023 55 46.6
2022 54.3 47.3
2021 52.4 55.2
2020 51.3 56.5
2019 46.9 53.2
2018 48.5 51.1
2017 49.3 50.3
2016 48.6 53.9
2015 49.2 53.4
2014 48 51
2013 46.9 49
2012 48.3 49.2
2011 47.1 48.3
2010 49.3 49
2009 52.5 51.3
2008 55.2 -
2007 55.3 -
2006 54.6 -
2005 52.9 -
2004 54.4 -
2003 54.1 -
2002 53.1 -
2001 55.1 -
2000 59.8 -
1999 62.9 -
1998 62.8 -
1997 61 -
1996 60.1 -
1995 57.7 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/ecuador/maldives | CC BY

The Economic Freedom Index for Ecuador is 55.6, ranking 127/197, compared to 47.6 for Maldives, ranking 174/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Ecuador Maldives
Services, % of GDP
57.2%
2024
72.1%
2024
Industry, % of GDP
26.5%
2024
9.2%
2024
Agriculture, forestry, and fishing, % of GDP
9.48%
2024
3.84%
2024
GNI, Atlas method
$117B
2024
$6.15B
2024
GNI per capita, PPP
$15,410
2024
$23,400
2024
Total reserves including gold
$6.91B
2024
$674M
2024
Total reserves ranking
87/177
2024
150/177
2024
Net foreign direct investment
-$438M
2024
-$806M
2024
Net inflows of foreign direct investment
$443M
2024
$806M
2024
Net outflows of foreign direct investment
$0
2024
$0
2024
Servicing debt to the IMF, % of GNI
7%
2024
7.95%
2024
Poverty at national poverty lines
28%
2024
15%
2020
Gross capital formation, % of GDP
18.5%
2024
30.8%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/ecuador/maldives | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1990–2000, retrieved 2026-02-20)
  6. TradeMap (2022–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.