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Economy of Ghana vs Maldives compared: GDP & Debt

Updated on by Georank team

Ghana has a GDP of $82.3B compared to $7.06B for Maldives, ranking 80/197 and 159/197 by economy size, respectively.

Ghana has $57.9B in government debt (70.3% of GDP), compared to $9.41B (133.3% of GDP) in Maldives.

Ghana vs Maldives GDP by year

Ghana
Maldives
1x
Year GDP, current $
Ghana Maldives
2024 $82,308,110,386 $7,061,608,267
2023 $80,547,146,878 $6,621,008,704
2022 $73,919,003,210 $6,177,123,352
2021 $79,514,204,730 $5,252,457,370
2020 $70,008,243,860 $3,712,604,583
2019 $68,352,629,246 $5,726,094,799
2018 $67,259,353,966 $5,404,344,163
2017 $60,385,409,435 $4,816,426,257
2016 $56,144,179,398 $4,409,942,624
2015 $49,436,806,230 $4,129,505,319
2014 $54,678,533,806 $3,697,353,039
2013 $62,845,721,960 $3,295,009,238
2012 $41,271,701,061 $2,886,163,997
2011 $39,336,668,081 $2,774,350,240
2010 $32,197,655,567 $2,588,176,055
2009 $26,048,720,006 $2,345,294,875
2008 $28,679,383,241 $2,271,646,188
2007 $24,827,339,138 $1,868,383,461
2006 $20,885,037,597 $1,575,200,391
2005 $10,744,568,381 $1,163,362,438
2004 $8,881,417,907 $1,226,829,563
2003 $7,632,723,556 $1,052,121,055
2002 $6,166,197,848 $897,031,250
2001 $5,314,872,854 $870,031,677
2000 $4,982,850,662 $624,337,145
1999 $7,718,109,982 $589,239,754
1998 $7,482,069,162 $540,096,398
1997 $6,891,443,192 $508,223,602
1996 $6,932,991,739 $450,382,328
1995 $6,464,382,808 $398,988,955
1994 $5,446,383,727 $356,014,932
1993 $5,968,922,939 $322,417,837
1992 $6,416,103,926 $284,875,809
1991 $6,603,185,268 $244,396,762
1990 $5,889,106,573 $215,043,970
1989 $5,251,858,440 $189,514,434
1988 $5,197,765,032 $168,514,513
1987 $5,074,829,932 $141,223,029
1986 $5,735,677,434 $141,882,254
1985 $4,504,306,723 $127,190,758
1984 $4,412,279,843 $109,503,546
1983 $4,057,275,132 $57,829,787
1982 $4,035,994,398 $47,911,340
1981 $4,222,441,860 $44,781,457
1980 $4,445,228,216 $42,463,576
1979 $4,020,227,920 $38,523,364
1978 $3,662,478,185 $24,369,109
1977 $3,189,428,571 $20,853,789
1976 $2,765,254,237 $22,399,467
1975 $2,810,106,383 $24,540,878
1974 $2,894,409,938 $39,120,171
1973 $3,006,766,758 $30,862,042
1972 $2,112,293,280 $25,177,138
1971 $2,417,108,578 $21,566,404
1970 $2,215,028,588 $19,328,038
1969 $1,962,050,556 -
1968 $1,666,909,518 -
1967 $1,747,187,645 -
1966 $2,126,300,672 -
1965 $2,053,462,968 -
1964 $1,731,296,200 -
1963 $1,540,797,589 -
1962 $1,382,515,654 -
1961 $1,302,674,325 -
1960 $1,217,230,095 -

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

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

GDP per capita in Ghana vs Maldives by year

Ghana
GDP per capita

GDP per capita, PPP
Maldives
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ghana Maldives
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,391 $8,020 $13,379 $26,183
2023 $2,384 $7,556 $12,588 $24,786
2022 $2,230 $7,208 $11,786 $22,881
2021 $2,445 $6,608 $10,176 $19,053
2020 $2,195 $6,047 $7,394 $13,425
2019 $2,187 $6,003 $11,740 $23,077
2018 $2,195 $5,536 $11,423 $21,899
2017 $2,012 $5,171 $10,510 $19,768
2016 $1,912 $5,011 $9,948 $18,770
2015 $1,723 $5,191 $9,645 $17,875
2014 $1,950 $5,517 $8,939 $16,723
2013 $2,295 $5,215 $8,236 $15,264
2012 $1,544 $4,934 $7,461 $13,989
2011 $1,507 $4,381 $7,425 $13,726
2010 $1,264 $3,855 $7,174 $12,797
2009 $1,048 $3,617 $6,734 $12,266
2008 $1,183 $3,516 $6,757 $13,779
2007 $1,050 $3,241 $5,758 $12,852
2006 $906 $3,103 $5,019 $12,075
2005 $479 $2,904 $3,797 $9,704
2004 $406 $2,729 $4,070 $10,770
2003 $358 $2,584 $3,549 $10,065
2002 $297.5 $2,475 $3,076 $8,823
2001 $263.5 $2,397 $3,034 $8,236
2000 $253.7 $2,315 $2,214 $8,526
1999 $403 $2,239 $2,124 $8,162
1998 $400 $2,167 $1,980 $7,710
1997 $378 $2,097 $1,898 $7,226
1996 $389 $2,026 $1,717 $6,687
1995 $372 $1,947 $1,555 $6,223
1994 $321 $1,875 $1,419 $5,520
1993 $360 $1,821 $1,317 $5,138
1992 $396 $1,739 $1,194 $4,881
1991 $418 $1,678 $1,054 $4,604
1990 $383 $1,581 $957 $4,528
1989 $350 - $870 -
1988 $355 - $799 -
1987 $355 - $692 -
1986 $411 - $720 -
1985 $330 - $669 -
1984 $330 - $594 -
1983 $311 - $323 -
1982 $319 - $274.8 -
1981 $344 - $264.1 -
1980 $372 - $257.6 -
1979 $347 - $240.2 -
1978 $326 - $156.1 -
1977 $292.3 - $137.3 -
1976 $261 - $151.8 -
1975 $273 - $171.4 -
1974 $289.4 - $281.5 -
1973 $310 - $228.7 -
1972 $223.8 - $192.2 -
1971 $263.4 - $169.8 -
1970 $248.2 - $156.9 -
1969 $225.8 - - -
1968 $196.7 - - -
1967 $211.2 - - -
1966 $263.3 - - -
1965 $260.5 - - -
1964 $225 - - -
1963 $205 - - -
1962 $188.4 - - -
1961 $181.9 - - -
1960 $174.9 - - -

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

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

Ghana's GDP per capita is $2,391, ranking 151/197, compared to $13,379 in Maldives, ranking 75/197. Adjusted for purchasing power (GDP per capita PPP), Ghana ranks 140th at $8,020, while Maldives ranks 81st at $26,183.

Economic indicators

Ghana Maldives
Gross domestic product
$82.3B
2024
$7.06B
2024
GDP rank
80/197
2024
159/197
2024
GDP growth
5.59%
2023-2024
3.49%
2023-2024
GDP per capita
$2,391
2024
$13,379
2024
GDP per capita rank
151/197
2024
75/197
2024
GDP per capita, PPP
$8,020
2024
$26,183
2024
GDP per capita PPP rank
140/197
2024
81/197
2024
Government debt
$57.9B
2024
$9.41B
2024
Debt-to-GDP ratio
70.3%
2024
133.3%
2024
Government debt per person
$1,682
2024
$17,837
2024
Government debt per person rank
123/185
2024
35/185
2024
Average annual personal income after taxes
$2,110
2026
$9,909
2026
Market capitalization of domestic companies
$7.58B
2024
n/a
Income share by richest 10%
32.2%
2016
23.3%
2019
Income share by poorest 10%
1.6%
2016
3.8%
2019
Government expenditure, % of GDP
23.2%
2024
46.1%
2024
Consumer prices inflation
22.8%
2023-2024
1.4%
2023-2024
Central bank interest rate
25%
2025
n/a
Unemployment rate
2.87%
2022
4.56%
2019
Population
35885254
532057

Spending and national debt comparison by year

Ghana
Spending

Debt
Maldives
Spending

Debt
1x
Year % of GDP
Ghana Maldives
Government spending Government debt Government spending Government debt
2024 23.2% 70.3% 46.1% 133.3%
2023 18.5% 79.1% 46.7% 122.4%
2022 27.5% 92.7% 42% 111.6%
2021 27.2% 86.9% 40.6% 123.4%
2020 31.5% 79.1% 50.4% 155.7%
2019 22.5% 62.9% 32.9% 77.2%
2018 20.9% 62% 31.9% 70.7%
2017 17.6% 57% 30.4% 63.8%
2016 19.9% 55.9% 37.3% 61.9%
2015 18.6% 53.9% 33.8% 54.8%
2014 21% 50.1% 29.1% 55.1%
2013 21.6% 42.9% 27% 55.9%
2012 22.1% 35.5% 29.8% 57.1%
2011 19.5% 31.2% 31.3% 51.9%
2010 19% 32.9% 33.2% 52.7%
2009 16.6% 25.4% 37% 48.4%
2008 16.6% 23.2% 35.6% 39%
2007 16.8% 21.1% 34.8% 35.8%
2006 14.4% 17.3% 35% 36.8%
2005 12.9% 31.7% 38.8% 43.2%
2004 13.7% 38.4% 24.1% 34.7%
2003 12.1% 49.3% 26.4% 37.6%
2002 10.7% 54.1% 29.6% 44.3%
2001 13.8% 57.8% 29.6% 41.8%
2000 12% 74.5% 29% 39%
1999 11.1% 51.7% 28% 38.9%
1998 11.8% 37.6% 25.9% 39.3%
1997 12% 45.2% 25.2% 38.1%
1996 12.4% 42.9% 27.3% 46.9%
1995 13% 47.6% 31.3% 52.2%
1994 12.7% 50.6% 30.7% 54.6%
1993 12.1% 34.1% 34.7% 55.7%
1992 9.2% 21.3% 36.1% 49%
1991 7.09% 17.3% 37.7% 46.7%
1990 6.59% 17.8% 33.3% 42.4%
1989 7.24% 23% - -
1988 7.23% 23.5% - -
1987 7.32% 26.8% - -
1986 7.29% 18.2% - -
1985 6.08% 14.4% - -
1984 4.64% 13% - -
1983 3.49% 9.21% - -
1982 4.73% 8.51% - -
1981 5.74% 8.77% - -
1980 7.51% 9.75% - -
1979 9.14% 11.5% - -
1978 6.54% 11.4% - -
1977 10.5% 20.7% - -
1976 12.8% 26% - -
1975 13.2% 21.8% - -
1974 9.52% 21.8% - -
1973 9.35% 25.4% - -
1972 11.4% 29.8% - -
1971 11.7% 29.5% - -
1970 12.2% 31.9% - -
1969 11.2% 31.4% - -
1968 12.3% 34.5% - -
1967 11.5% 33.9% - -
1966 9.12% 29.8% - -
1965 14.2% 30.2% - -
1964 15.8% 30.8% - -
1963 15.3% 30.5% - -
1962 12.5% 11.8% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1996, retrieved 2026-02-20).

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

In 2024, Ghana's government spending was $19.1B, accounting for 23.2% of its GDP, while Maldives spent $3.25B, or 46.1% of GDP.

Debt-to-GDP ratio is 70.3% in Ghana and 133.3% in Maldives, ranking 57/185 and 10/185, respectively.

Government deficit by year

Deficit/surplus
Ghana

Maldives
1x
Year Deficit/surplus, % of GDP
Ghana Maldives
2024 -7.31% -13.9%
2023 -3.37% -13.2%
2022 -11.8% -11.2%
2021 -12% -14.2%
2020 -17.4% -23.7%
2019 -7.52% -6.54%
2018 -6.79% -5.17%
2017 -3.97% -3.02%
2016 -6.75% -9.93%
2015 -4.01% -6.52%
2014 -7.81% -2.42%
2013 -9.12% -3.49%
2012 -8.36% -6.91%
2011 -5.47% -8.13%
2010 -7.13% -13.6%
2009 -5.05% -17.9%
2008 -5.56% -9.92%
2007 -4.91% -3.16%
2006 -3.11% -4.52%
2005 -1.87% -7.81%
2004 -2.02% -2.26%
2003 -1.99% -3.45%
2002 -2.73% -3.97%
2001 -3.64% -3.97%
2000 -3.98% -3.89%
1999 -5.64% -3.03%
1998 -5.27% -2.25%
1997 -6.14% -1.46%
1996 -5.61% -2.01%
1995 -4.52% -5.66%
1994 -4.99% -4.82%
1993 -5.39% -13.9%
1992 -4.5% -12.6%
1991 -1.47% -10.2%
1990 -1.93% -12.8%
1989 -0.81% -
1988 -1.08% -
1987 -0.92% -
1986 -1.26% -
1985 -1.19% -
1984 -0.98% -
1983 -1.13% -
1982 -2.03% -
1981 -3.8% -
1980 -4.73% -
1979 -3.61% -
1978 -1.21% -
1977 -4.68% -
1976 -5.53% -
1975 -4.05% -
1974 -2.06% -
1973 -2.64% -
1972 -2.19% -
1971 0.13% -
1970 -2.35% -
1969 -2.67% -
1968 -2.34% -
1967 -2.32% -
1966 -1.29% -
1965 -3.29% -
1964 -3.72% -
1963 -5.66% -
1962 -5.04% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-02-20).

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

In 2024, Ghana's government deficit, the difference between spending and revenue, was $6.02B, equivalent to 7.31% of GDP. This compares to Maldives' deficit of $982M, or 13.9% of GDP.

Over the past 35 years, Ghana recorded a fiscal deficit in 35 of those years, while Maldives ran a deficit in 35 years. On average, Ghana posted an annual deficit equal to 5.69% of GDP, compared to deficit of 7.75% of GDP for Maldives.

Inflation comparison by year

Inflation
Ghana

Maldives
1x
Year Consumer prices inflation
Ghana Maldives
2024 22.8% 1.4%
2023 38.1% 2.6%
2022 31.3% 2.6%
2021 9.97% 0.2%
2020 9.89% -1.6%
2019 7.14% 1.3%
2018 7.81% 1.4%
2017 12.4% 2.3%
2016 17.5% 0.8%
2015 17.1% 1.4%
2014 15.5% 2.4%
2013 11.7% 4%
2012 11.2% 10.9%
2011 8.73% 11.3%
2010 10.7% 6.1%
2009 19.2% 4.5%
2008 16.5% 12%
2007 10.7% 6.8%
2006 11.7% 3.5%
2005 15.4% 2.5%
2004 18% 6.3%
2003 29.8% -2.8%
2002 9.36% 0.9%
2001 41.5% 0.7%
2000 40.2% -1.2%
1999 4.87% 3%
1998 14.6% -1.4%
1997 27.9% 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/ghana/maldives | CC BY

Over the past 28 years, Ghana has recorded an average annual inflation rate of 17.6%, compared with 3.2% in Maldives. In 2024, inflation was 22.8% in Ghana and 1.4% in Maldives.

Top exports between countries

Ghana
Export category Export value
Machinery & equipment $1.54M
Metals $690K
Wood & paper products $17K
Raw agricultural goods $3K
Maldives
Export category Export value

Balance of trade

Ghana Maldives
Current account balance
$1.68B
2024
-$1.32B
2024
Current account balance ranking
49/190
2024
130/190
2024
Current account balance, % of GDP
+2.04%
2024
-18.7%
2024
Goods imports
$15.4B
2024
$3.46B
2024
Goods exports
$19.2B
2024
$383M
2024
Service imports
$11.5B
2024
$1.89B
2024
Service exports
$9.27B
2024
$5.03B
2024
Imports of goods and services, % of GDP
34.3%
2024
78.3%
2024
Exports of goods and services, % of GDP
35.5%
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.

Ghana Maldives
Economic freedom 57.3 47.6
Economic freedom ranking 118/197 174/197
Property rights 50.2 52.2
Government integrity 45.4 41.9
Judicial effectiveness 57.5 39.3
Tax burden 79.4 89.9
Government spending 84 39.5
Fiscal health 10.1 0
Business freedom 64.5 49.7
Labor freedom 54.9 54.1
Monetary freedom 56.7 76.4
Trade freedom 65.2 62.8
Investment freedom 60 35
Financial freedom 60 30

Economic freedom comparison by year

Ghana
Maldives
1x
Year Economic freedom index
Ghana Maldives
2026 57.3 47.6
2025 56 48.3
2024 55.8 47.8
2023 58 46.6
2022 59.8 47.3
2021 59.2 55.2
2020 59.4 56.5
2019 57.5 53.2
2018 56 51.1
2017 56.2 50.3
2016 63 53.9
2015 63 53.4
2014 64.2 51
2013 61.3 49
2012 60.7 49.2
2011 59.4 48.3
2010 60.2 49
2009 58.1 51.3
2008 57 -
2007 57.6 -
2006 55.6 -
2005 56.5 -
2004 59.1 -
2003 58.2 -
2002 57.2 -
2001 58 -
2000 58.1 -
1999 57.9 -
1998 57 -
1997 56.7 -
1996 57.7 -
1995 55.6 -

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

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

The Economic Freedom Index for Ghana is 57.3, ranking 118/197, 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

Ghana Maldives
Services, % of GDP
40.9%
2024
72.1%
2024
Industry, % of GDP
31.5%
2024
9.2%
2024
Agriculture, forestry, and fishing, % of GDP
20.9%
2024
3.84%
2024
GNI, Atlas method
$79.5B
2024
$6.15B
2024
GNI per capita, PPP
$7,720
2024
$23,400
2024
Total reserves including gold
$3.62B
2023
$674M
2024
Total reserves ranking
112/177
2023
150/177
2024
Net foreign direct investment
-$1.76B
2024
-$806M
2024
Net inflows of foreign direct investment
$1.77B
2024
$806M
2024
Net outflows of foreign direct investment
$5.37M
2024
$0
2024
Servicing debt to the IMF, % of GNI
3.45%
2024
7.95%
2024
Poverty at national poverty lines
23.4%
2016
15%
2020
Gross capital formation, % of GDP
10%
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/ghana/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. International Monetary Fund (IMF) | Public Finances in Modern History (1962–1996, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2022, 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.