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Economy of Kuwait vs Maldives compared: GDP & Debt

Updated on by Georank team

Kuwait has a GDP of $160B compared to $7.06B for Maldives, ranking 59/197 and 159/197 by economy size, respectively.

Kuwait has $4.68B in government debt (2.92% of GDP), compared to $9.41B (133.3% of GDP) in Maldives.

Kuwait vs Maldives GDP by year

Kuwait
Maldives
1x
Year GDP, current $
Kuwait Maldives
2024 $160,227,273,053 $7,061,608,267
2023 $165,384,407,116 $6,621,008,704
2022 $183,502,046,694 $6,177,123,352
2021 $148,350,671,489 $5,252,457,370
2020 $111,045,470,606 $3,712,604,583
2019 $140,856,394,861 $5,726,094,799
2018 $138,646,316,351 $5,404,344,163
2017 $120,687,539,806 $4,816,426,257
2016 $109,406,674,125 $4,409,942,624
2015 $114,585,555,689 $4,129,505,319
2014 $162,650,450,685 $3,697,353,039
2013 $174,168,116,535 $3,295,009,238
2012 $174,047,662,680 $2,886,163,997
2011 $154,039,231,246 $2,774,350,240
2010 $115,416,245,242 $2,588,176,055
2009 $105,968,691,905 $2,345,294,875
2008 $147,379,737,230 $2,271,646,188
2007 $114,634,043,362 $1,868,383,461
2006 $101,557,330,723 $1,575,200,391
2005 $80,798,630,137 $1,163,362,438
2004 $59,439,090,601 $1,226,829,563
2003 $47,874,582,232 $1,052,121,055
2002 $38,135,788,414 $897,031,250
2001 $34,889,559,870 $870,031,677
2000 $37,718,743,480 $624,337,145
1999 $30,122,365,849 $589,239,754
1998 $25,943,705,784 $540,096,398
1997 $30,350,190,704 $508,223,602
1996 $31,492,373,309 $450,382,328
1995 $27,186,980,647 $398,988,955
1994 $24,848,483,838 $356,014,932
1993 $23,941,391,391 $322,417,837
1992 $19,858,555,215 $284,875,809
1991 $11,009,993,703 $244,396,762
1990 $18,427,777,778 $215,043,970
1989 $24,313,855,653 $189,514,434
1988 $20,690,322,153 $168,514,513
1987 $22,368,704,134 $141,223,029
1986 $17,903,989,745 $141,882,254
1985 $21,445,970,614 $127,190,758
1984 $21,700,082,753 $109,503,546
1983 $20,871,081,080 $57,829,787
1982 $21,577,153,356 $47,911,340
1981 $25,058,020,338 $44,781,457
1980 $28,638,868,356 $42,463,576
1979 $24,749,063,922 $38,523,364
1978 $15,503,557,496 $24,369,109
1977 $14,137,406,741 $20,853,789
1976 $13,132,252,802 $22,399,467
1975 $12,022,811,621 $24,540,878
1974 $13,006,948,296 $39,120,171
1973 $5,408,804,607 $30,862,042
1972 $4,450,537,925 $25,177,138
1971 $3,880,392,195 $21,566,404
1970 $2,873,638,851 $19,328,038
1969 $2,769,198,892 -
1968 $2,662,798,935 -
1967 $2,441,599,023 -
1966 $2,391,199,044 -
1965 $2,097,199,161 -
1964 $2,071,668,533 -
1963 $1,900,895,857 -
1962 $1,828,107,503 -

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

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

GDP per capita in Kuwait vs Maldives by year

Kuwait
GDP per capita

GDP per capita, PPP
Maldives
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kuwait Maldives
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $32,718 $52,444 $13,379 $26,183
2023 $34,076 $53,025 $12,588 $24,786
2022 $39,982 $55,043 $11,786 $22,881
2021 $34,019 $50,652 $10,176 $19,053
2020 $25,236 $41,462 $7,394 $13,425
2019 $31,708 $50,703 $11,740 $23,077
2018 $32,068 $51,371 $11,423 $21,899
2017 $29,048 $46,566 $10,510 $19,768
2016 $27,324 $41,862 $9,948 $18,770
2015 $29,882 $45,267 $9,645 $17,875
2014 $44,369 $68,337 $8,939 $16,723
2013 $49,651 $76,813 $8,236 $15,264
2012 $52,155 $82,090 $7,461 $13,989
2011 $49,170 $79,037 $7,425 $13,726
2010 $39,212 $75,184 $7,174 $12,797
2009 $37,907 $80,110 $6,734 $12,266
2008 $55,585 $90,337 $6,757 $13,779
2007 $45,709 $91,435 $5,758 $12,852
2006 $42,947 $89,075 $5,019 $12,075
2005 $36,123 $84,968 $3,797 $9,704
2004 $27,552 $77,227 $4,070 $10,770
2003 $22,691 $69,752 $3,549 $10,065
2002 $18,513 $59,713 $3,076 $8,823
2001 $17,374 $58,553 $3,034 $8,236
2000 $19,296 $58,703 $2,214 $8,526
1999 $15,854 $56,406 $2,124 $8,162
1998 $14,067 $58,344 $1,980 $7,710
1997 $16,977 $57,420 $1,898 $7,226
1996 $18,201 $56,913 $1,717 $6,687
1995 $16,168 $57,163 $1,555 $6,223
1994 $14,930 $53,946 $1,419 $5,520
1993 $14,318 $48,482 $1,317 $5,138
1992 $12,146 $36,149 $1,194 $4,881
1991 $8,147 $23,390 $1,054 $4,604
1990 $10,938 $30,763 $957 $4,528
1989 $10,965 - $870 -
1988 $9,692 - $799 -
1987 $10,896 - $692 -
1986 $9,077 - $720 -
1985 $11,322 - $669 -
1984 $11,919 - $594 -
1983 $11,965 - $323 -
1982 $12,979 - $274.8 -
1981 $15,825 - $264.1 -
1980 $19,032 - $257.6 -
1979 $17,386 - $240.2 -
1978 $11,567 - $156.1 -
1977 $11,238 - $137.3 -
1976 $11,141 - $151.8 -
1975 $10,882 - $171.4 -
1974 $12,527 - $281.5 -
1973 $5,532 - $228.7 -
1972 $4,836 - $192.2 -
1971 $4,486 - $169.8 -
1970 $3,552 - $156.9 -
1969 $3,695 - - -
1968 $3,872 - - -
1967 $3,887 - - -
1966 $4,176 - - -
1965 $4,024 - - -
1964 $4,379 - - -
1963 $4,445 - - -
1962 $4,748 - - -

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

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

Kuwait's GDP per capita is $32,718, ranking 37/197, compared to $13,379 in Maldives, ranking 75/197. Adjusted for purchasing power (GDP per capita PPP), Kuwait ranks 40th at $52,444, while Maldives ranks 81st at $26,183.

Economic indicators

Kuwait Maldives
Gross domestic product
$160B
2024
$7.06B
2024
GDP rank
59/197
2024
159/197
2024
GDP growth
-2.56%
2023-2024
3.49%
2023-2024
GDP per capita
$32,718
2024
$13,379
2024
GDP per capita rank
37/197
2024
75/197
2024
GDP per capita, PPP
$52,444
2024
$26,183
2024
GDP per capita PPP rank
40/197
2024
81/197
2024
Government debt
$4.68B
2024
$9.41B
2024
Debt-to-GDP ratio
2.92%
2024
133.3%
2024
Government debt per person
$956
2024
$17,837
2024
Government debt per person rank
143/185
2024
35/185
2024
Average annual personal income after taxes
$23,828
2026
$9,909
2026
Market capitalization of domestic companies
$141B
2024
n/a
Income share by richest 10% n/a
23.3%
2019
Income share by poorest 10% n/a
3.8%
2019
Government expenditure, % of GDP
50.4%
2024
46.1%
2024
Consumer prices inflation
2.9%
2023-2024
1.4%
2023-2024
Central bank interest rate
3.5%
2025
n/a
Unemployment rate
2.16%
2016
4.56%
2019
Population
5100145
532057

Spending and national debt comparison by year

Kuwait
Spending

Debt
Maldives
Spending

Debt
1x
Year % of GDP
Kuwait Maldives
Government spending Government debt Government spending Government debt
2024 50.4% 2.92% 46.1% 133.3%
2023 48.3% 3.13% 46.7% 122.4%
2022 39.6% 2.95% 42% 111.6%
2021 48.3% 7.2% 40.6% 123.4%
2020 62.9% 10.2% 50.4% 155.7%
2019 50.3% 10.5% 32.9% 77.2%
2018 51.1% 14.3% 31.9% 70.7%
2017 51.9% 19.6% 30.4% 63.8%
2016 54.1% 9.88% 37.3% 61.9%
2015 55.4% 4.6% 33.8% 54.8%
2014 45% 3.43% 29.1% 55.1%
2013 38.4% 3.09% 27% 55.9%
2012 38.2% 3.6% 29.8% 57.1%
2011 39.7% 4.64% 31.3% 51.9%
2010 45.5% 6.16% 33.2% 52.7%
2009 42.9% 6.65% 37% 48.4%
2008 40.9% 5.38% 35.6% 39%
2007 30.4% 7.05% 34.8% 35.8%
2006 32.3% 7.79% 35% 36.8%
2005 28.8% 10.2% 38.8% 43.2%
2004 35.3% 13.9% 24.1% 34.7%
2003 38.2% 17.2% 26.4% 37.6%
2002 42.8% 21.3% 29.6% 44.3%
2001 41.4% 23% 29.6% 41.8%
2000 29.9% 21.4% 29% 39%
1999 44.5% 25.5% 28% 38.9%
1998 51.7% 25.6% 25.9% 39.3%
1997 43.8% 24.3% 25.2% 38.1%
1996 42.8% 26.5% 27.3% 46.9%
1995 52% 34.9% 31.3% 52.2%
1994 57.8% 37.7% 30.7% 54.6%
1993 58.2% 28.8% 34.7% 55.7%
1992 77.6% 27.9% 36.1% 49%
1991 208.9% 45.3% 37.7% 46.7%
1990 122.9% - 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 (1990–1996, retrieved 2026-02-20).

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

In 2024, Kuwait's government spending was $80.8B, accounting for 50.4% of its GDP, while Maldives spent $3.25B, or 46.1% of GDP.

Debt-to-GDP ratio is 2.92% in Kuwait and 133.3% in Maldives, ranking 184/185 and 10/185, respectively.

Government deficit by year

Deficit/surplus
Kuwait

Maldives
1x
Year Deficit/surplus, % of GDP
Kuwait Maldives
2024 23.8% -13.9%
2023 28.2% -13.2%
2022 30% -11.2%
2021 9.98% -14.2%
2020 0.14% -23.7%
2019 13% -6.54%
2018 17.5% -5.17%
2017 15.3% -3.02%
2016 13.1% -9.93%
2015 16.6% -6.52%
2014 30% -2.42%
2013 40.6% -3.49%
2012 40.7% -6.91%
2011 38.8% -8.13%
2010 31.9% -13.6%
2009 31.3% -17.9%
2008 21.3% -9.92%
2007 37.1% -3.16%
2006 28% -4.52%
2005 38.9% -7.81%
2004 32.5% -2.26%
2003 27.2% -3.45%
2002 31% -3.97%
2001 45.2% -3.97%
2000 52.5% -3.89%
1999 28.2% -3.03%
1998 19.5% -2.25%
1997 29.5% -1.46%
1996 24.3% -2.01%
1995 11.7% -5.66%
1994 1.76% -4.82%
1993 -3.12% -13.9%
1992 -28.1% -12.6%
1991 -145% -10.2%
1990 -50% -12.8%

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

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

In 2024, Kuwait's government surplus, the difference between spending and revenue, was $38.1B, equivalent to 23.8% of GDP. This compares to Maldives' deficit of $982M, or 13.9% of GDP.

Over the past 35 years, Kuwait recorded a fiscal deficit in 4 of those years, while Maldives ran a deficit in 35 years. On average, Kuwait posted an annual surplus equal to 16.7% of GDP, compared to deficit of 7.75% of GDP for Maldives.

Inflation comparison by year

Inflation
Kuwait

Maldives
1x
Year Consumer prices inflation
Kuwait Maldives
2024 2.9% 1.4%
2023 3.64% 2.6%
2022 3.98% 2.6%
2021 3.42% 0.2%
2020 2.1% -1.6%
2019 1.09% 1.3%
2018 0.54% 1.4%
2017 2.17% 2.3%
2016 3.2% 0.8%
2015 3.27% 1.4%
2014 2.91% 2.4%
2013 2.68% 4%
2012 3.26% 10.9%
2011 4.84% 11.3%
2010 4.5% 6.1%
2009 4.61% 4.5%
2008 10.6% 12%
2007 5.48% 6.8%
2006 3.06% 3.5%
2005 4.14% 2.5%
2004 1.25% 6.3%
2003 0.96% -2.8%
2002 0.89% 0.9%
2001 1.3% 0.7%
2000 1.81% -1.2%
1999 2.99% 3%
1998 0.13% -1.4%
1997 0.68% 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/kuwait/maldives | CC BY

Over the past 28 years, Kuwait has recorded an average annual inflation rate of 2.94%, compared with 3.2% in Maldives. In 2024, inflation was 2.9% in Kuwait and 1.4% in Maldives.

Top exports between countries

Kuwait
Export category Export value
Metals $2.14M
Machinery & equipment $997K
Chemicals & pharma $147K
Textiles & consumer goods $142K
Weapons & explosives $12K
Animal & marine products $10K
Processed food, beverages & tobacco $2K
Raw agricultural goods $2K
Raw materials & minerals $2K
Wood & paper products $1K
Maldives
Export category Export value

Balance of trade

Kuwait Maldives
Current account balance
$46.7B
2024
-$1.32B
2024
Current account balance ranking
15/190
2024
130/190
2024
Current account balance, % of GDP
+29.1%
2024
-18.7%
2024
Goods imports
$33.4B
2024
$3.46B
2024
Goods exports
$77.5B
2024
$383M
2024
Service imports
$28.1B
2024
$1.89B
2024
Service exports
$12.2B
2024
$5.03B
2024
Imports of goods and services, % of GDP
38.3%
2023
78.3%
2024
Exports of goods and services, % of GDP
57.7%
2023
78.2%
2024

Economic freedom indices

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

Kuwait Maldives
Economic freedom 59.9 47.6
Economic freedom ranking 100/197 174/197
Property rights 42 52.2
Government integrity 47.9 41.9
Judicial effectiveness 43.4 39.3
Tax burden 97.7 89.9
Government spending 36.2 39.5
Fiscal health 99.9 0
Business freedom 57.4 49.7
Labor freedom 49.2 54.1
Monetary freedom 68.7 76.4
Trade freedom 75.8 62.8
Investment freedom 50 35
Financial freedom 50 30

Economic freedom comparison by year

Kuwait
Maldives
1x
Year Economic freedom index
Kuwait Maldives
2026 59.9 47.6
2025 59.9 48.3
2024 58.5 47.8
2023 56.7 46.6
2022 58.3 47.3
2021 64.1 55.2
2020 63.2 56.5
2019 60.8 53.2
2018 62.2 51.1
2017 65.1 50.3
2016 62.7 53.9
2015 62.5 53.4
2014 62.3 51
2013 63.1 49
2012 62.5 49.2
2011 64.9 48.3
2010 67.7 49
2009 65.6 51.3
2008 68.1 -
2007 66.4 -
2006 66.5 -
2005 64.6 -
2004 63.6 -
2003 66.7 -
2002 65.4 -
2001 68.2 -
2000 69.7 -
1999 69.5 -
1998 66.3 -
1997 64.8 -
1996 66.1 -

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Kuwait is 59.9, ranking 100/197, 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

Kuwait Maldives
Services, % of GDP
55.9%
2024
72.1%
2024
Industry, % of GDP
57.1%
2024
9.2%
2024
Agriculture, forestry, and fishing, % of GDP
0.49%
2024
3.84%
2024
GNI, Atlas method
$200B
2024
$6.15B
2024
GNI per capita, PPP
$63,270
2024
$23,400
2024
Total reserves including gold
$50.7B
2024
$674M
2024
Total reserves ranking
41/177
2024
150/177
2024
Net foreign direct investment
$9.71B
2024
-$806M
2024
Net inflows of foreign direct investment
$615M
2024
$806M
2024
Net outflows of foreign direct investment
$10.3B
2024
$0
2024
Servicing debt to the IMF, % of GNI n/a
7.95%
2024
Poverty at national poverty lines n/a
15%
2020
Gross capital formation, % of GDP
17.7%
2023
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/kuwait/maldives | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2021–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1990–1996, retrieved 2026-02-20)
  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.