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Economy of Luxembourg vs Maldives compared: GDP & Debt

Updated on by Georank team

Luxembourg has a GDP of $93.3B compared to $7.06B for Maldives, ranking 74/197 and 159/197 by economy size, respectively.

Luxembourg has $24.5B in government debt (26.3% of GDP), compared to $9.41B (133.3% of GDP) in Maldives.

Luxembourg vs Maldives GDP by year

Luxembourg
Maldives
1x
Year GDP, current $
Luxembourg Maldives
2024 $93,279,851,863 $7,061,608,267
2023 $88,788,881,539 $6,621,008,704
2022 $80,801,680,397 $6,177,123,352
2021 $86,386,759,695 $5,252,457,370
2020 $73,670,782,100 $3,712,604,583
2019 $69,872,035,114 $5,726,094,799
2018 $71,085,623,495 $5,404,344,163
2017 $65,712,180,343 $4,816,426,257
2016 $62,216,885,436 $4,409,942,624
2015 $60,071,584,216 $4,129,505,319
2014 $68,804,811,898 $3,697,353,039
2013 $65,203,276,467 $3,295,009,238
2012 $59,776,383,527 $2,886,163,997
2011 $61,696,281,326 $2,774,350,240
2010 $56,213,985,987 $2,588,176,055
2009 $54,467,289,898 $2,345,294,875
2008 $58,844,277,702 $2,271,646,188
2007 $51,587,401,416 $1,868,383,461
2006 $42,910,146,296 $1,575,200,391
2005 $37,672,280,120 $1,163,362,438
2004 $35,064,843,793 $1,226,829,563
2003 $29,667,268,248 $1,052,121,055
2002 $23,649,833,332 $897,031,250
2001 $21,387,533,703 $870,031,677
2000 $21,230,182,989 $624,337,145
1999 $21,899,317,599 $589,239,754
1998 $20,150,053,345 $540,096,398
1997 $19,563,836,265 $508,223,602
1996 $20,895,314,658 $450,382,328
1995 $20,853,093,870 $398,988,955
1994 $17,701,798,891 $356,014,932
1993 $15,925,521,222 $322,417,837
1992 $15,518,702,635 $284,875,809
1991 $13,834,219,728 $244,396,762
1990 $12,778,792,854 $215,043,970
1989 $10,037,674,038 $189,514,434
1988 $9,418,167,855 $168,514,513
1987 $8,320,902,215 $141,223,029
1986 $6,685,595,088 $141,882,254
1985 $4,577,211,767 $127,190,758
1984 $4,438,435,493 $109,503,546
1983 $4,524,217,751 $57,829,787
1982 $4,602,316,793 $47,911,340
1981 $5,053,665,797 $44,781,457
1980 $6,019,805,490 $42,463,576
1979 $5,516,982,664 $38,523,364
1978 $4,718,539,772 $24,369,109
1977 $3,789,321,328 $20,853,789
1976 $3,423,586,207 $22,399,467
1975 $3,123,333,333 $24,540,878
1974 $3,183,637,117 $39,120,171
1973 $2,609,875,802 $30,862,042
1972 $1,901,697,370 $25,177,138
1971 $1,518,773,421 $21,566,404
1970 $1,457,768,455 $19,328,038
1969 $1,245,432,991 -
1968 $1,075,561,623 -
1967 $983,052,315 -
1966 $976,717,015 -
1965 $929,477,285 -
1964 $910,877,686 -
1963 $797,902,154 -
1962 $747,846,862 -
1961 $710,163,719 -
1960 $709,941,874 -

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

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

GDP per capita in Luxembourg vs Maldives by year

Luxembourg
GDP per capita

GDP per capita, PPP
Maldives
GDP per capita

GDP per capita, PPP
1x
Year Current $
Luxembourg Maldives
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $137,782 $155,941 $13,379 $26,183
2023 $133,231 $150,508 $12,588 $24,786
2022 $123,720 $146,919 $11,786 $22,881
2021 $134,966 $136,772 $10,176 $19,053
2020 $116,860 $122,067 $7,394 $13,425
2019 $112,697 $121,372 $11,740 $23,077
2018 $116,927 $116,638 $11,423 $21,899
2017 $110,193 $114,986 $10,510 $19,768
2016 $106,899 $113,365 $9,948 $18,770
2015 $105,462 $107,860 $9,645 $17,875
2014 $123,679 $105,296 $8,939 $16,723
2013 $120,000 $100,925 $8,236 $15,264
2012 $112,585 $96,636 $7,461 $13,989
2011 $119,025 $94,475 $7,425 $13,726
2010 $110,886 $90,336 $7,174 $12,797
2009 $109,420 $86,919 $6,734 $12,266
2008 $120,422 $90,971 $6,757 $13,779
2007 $107,475 $85,126 $5,758 $12,852
2006 $90,789 $78,861 $5,019 $12,075
2005 $80,988 $68,788 $3,797 $9,704
2004 $76,545 $64,686 $4,070 $10,770
2003 $65,689 $60,192 $3,549 $10,065
2002 $53,006 $58,576 $3,076 $8,823
2001 $48,440 $56,136 $3,034 $8,236
2000 $48,660 $55,136 $2,214 $8,526
1999 $50,872 $49,845 $2,124 $8,162
1998 $47,445 $44,270 $1,980 $7,710
1997 $46,642 $42,488 $1,898 $7,226
1996 $50,444 $39,722 $1,717 $6,687
1995 $51,032 $38,345 $1,555 $6,223
1994 $43,933 $37,551 $1,419 $5,520
1993 $40,067 $35,899 $1,317 $5,138
1992 $39,571 $34,108 $1,194 $4,881
1991 $35,747 $33,191 $1,054 $4,604
1990 $33,465 $29,949 $957 $4,528
1989 $26,618 - $870 -
1988 $25,219 - $799 -
1987 $22,443 - $692 -
1986 $18,150 - $720 -
1985 $12,482 - $669 -
1984 $12,127 - $594 -
1983 $12,374 - $323 -
1982 $12,591 - $274.8 -
1981 $13,837 - $264.1 -
1980 $16,531 - $257.6 -
1979 $15,204 - $240.2 -
1978 $13,034 - $156.1 -
1977 $10,486 - $137.3 -
1976 $9,491 - $151.8 -
1975 $8,701 - $171.4 -
1974 $8,967 - $281.5 -
1973 $7,447 - $228.7 -
1972 $5,487 - $192.2 -
1971 $4,435 - $169.8 -
1970 $4,298 - $156.9 -
1969 $3,690 - - -
1968 $3,203 - - -
1967 $2,935 - - -
1966 $2,925 - - -
1965 $2,804 - - -
1964 $2,779 - - -
1963 $2,462 - - -
1962 $2,332 - - -
1961 $2,241 - - -
1960 $2,261 - - -

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

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

Luxembourg's GDP per capita is $137,782, ranking 3/197, compared to $13,379 in Maldives, ranking 75/197. Adjusted for purchasing power (GDP per capita PPP), Luxembourg ranks 1st at $155,941, while Maldives ranks 81st at $26,183.

Economic indicators

Luxembourg Maldives
Gross domestic product
$93.3B
2024
$7.06B
2024
GDP rank
74/197
2024
159/197
2024
GDP growth
0.36%
2023-2024
3.49%
2023-2024
GDP per capita
$137,782
2024
$13,379
2024
GDP per capita rank
3/197
2024
75/197
2024
GDP per capita, PPP
$155,941
2024
$26,183
2024
GDP per capita PPP rank
1/197
2024
81/197
2024
Government debt
$24.5B
2024
$9.41B
2024
Debt-to-GDP ratio
26.3%
2024
133.3%
2024
Government debt per person
$36,221
2024
$17,837
2024
Government debt per person rank
19/185
2024
35/185
2024
Average annual personal income after taxes
$69,593
2026
$9,909
2026
Market capitalization of domestic companies
$41.9B
2024
n/a
Number of billionaires
1
2025
n/a
Income share by richest 10%
25%
2023
23.3%
2019
Income share by poorest 10%
2.8%
2023
3.8%
2019
Government expenditure, % of GDP
46.9%
2024
46.1%
2024
Consumer prices inflation
2.05%
2023-2024
1.4%
2023-2024
Unemployment rate
6.42%
2024
4.56%
2019
Population
693885
532057

Spending and national debt comparison by year

Luxembourg
Spending

Debt
Maldives
Spending

Debt
1x
Year % of GDP
Luxembourg Maldives
Government spending Government debt Government spending Government debt
2024 46.9% 26.3% 46.1% 133.3%
2023 46.4% 24.7% 46.7% 122.4%
2022 44.3% 24.9% 42% 111.6%
2021 42.4% 24.2% 40.6% 123.4%
2020 47% 24.5% 50.4% 155.7%
2019 43.1% 22.3% 32.9% 77.2%
2018 42.3% 20.9% 31.9% 70.7%
2017 41.3% 21.8% 30.4% 63.8%
2016 40% 19.6% 37.3% 61.9%
2015 40.4% 21.1% 33.8% 54.8%
2014 40.6% 21.9% 29.1% 55.1%
2013 41.2% 22.4% 27% 55.9%
2012 41.8% 20.8% 29.8% 57.1%
2011 41.5% 18.5% 31.3% 51.9%
2010 42% 19.1% 33.2% 52.7%
2009 42.7% 15.3% 37% 48.4%
2008 37.9% 14.6% 35.6% 39%
2007 37.4% 8.09% 34.8% 35.8%
2006 39.4% 8.21% 35% 36.8%
2005 43.4% 7.95% 38.8% 43.2%
2004 43.7% 7.83% 24.1% 34.7%
2003 43.3% 7.43% 26.4% 37.6%
2002 41.8% 7.45% 29.6% 44.3%
2001 38.1% 7.62% 29.6% 41.8%
2000 38% 7.49% 29% 39%
1999 41.7% 8.39% 28% 38.9%
1998 43.9% 9.51% 25.9% 39.3%
1997 44.2% 10.1% 25.2% 38.1%
1996 42.5% 10.2% 27.3% 46.9%
1995 42% 10.3% 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 (1990–1996, retrieved 2026-02-20).

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

In 2024, Luxembourg's government spending was $43.7B, accounting for 46.9% of its GDP, while Maldives spent $3.25B, or 46.1% of GDP.

Debt-to-GDP ratio is 26.3% in Luxembourg and 133.3% in Maldives, ranking 162/185 and 10/185, respectively.

Government deficit by year

Deficit/surplus
Luxembourg

Maldives
1x
Year Deficit/surplus, % of GDP
Luxembourg Maldives
2024 1.03% -13.9%
2023 -0.78% -13.2%
2022 0.18% -11.2%
2021 1% -14.2%
2020 -3.09% -23.7%
2019 2.68% -6.54%
2018 3.17% -5.17%
2017 1.37% -3.02%
2016 1.89% -9.93%
2015 1.3% -6.52%
2014 1.33% -2.42%
2013 0.84% -3.49%
2012 0.5% -6.91%
2011 0.65% -8.13%
2010 -0.26% -13.6%
2009 -0.21% -17.9%
2008 3.37% -9.92%
2007 4.35% -3.16%
2006 1.9% -4.52%
2005 -0.21% -7.81%
2004 -1.39% -2.26%
2003 0.28% -3.45%
2002 2.03% -3.97%
2001 5.62% -3.97%
2000 5.55% -3.89%
1999 3.24% -3.03%
1998 2.98% -2.25%
1997 2.65% -1.46%
1996 2.37% -2.01%
1995 2.71% -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/luxembourg/maldives | CC BY

In 2024, Luxembourg's government surplus, the difference between spending and revenue, was $961M, equivalent to 1.03% of GDP. This compares to Maldives' deficit of $982M, or 13.9% of GDP.

Over the past 30 years, Luxembourg recorded a fiscal deficit in 6 of those years, while Maldives ran a deficit in 30 years. On average, Luxembourg posted an annual surplus equal to 1.57% of GDP, compared to deficit of 7.24% of GDP for Maldives.

Inflation comparison by year

Inflation
Luxembourg

Maldives
1x
Year Consumer prices inflation
Luxembourg Maldives
2024 2.05% 1.4%
2023 3.74% 2.6%
2022 6.34% 2.6%
2021 2.53% 0.2%
2020 0.82% -1.6%
2019 1.74% 1.3%
2018 1.53% 1.4%
2017 1.73% 2.3%
2016 0.29% 0.8%
2015 0.47% 1.4%
2014 0.63% 2.4%
2013 1.73% 4%
2012 2.66% 10.9%
2011 3.41% 11.3%
2010 2.27% 6.1%
2009 0.37% 4.5%
2008 3.4% 12%
2007 2.31% 6.8%
2006 2.67% 3.5%
2005 2.49% 2.5%
2004 2.23% 6.3%
2003 2.05% -2.8%
2002 2.07% 0.9%
2001 2.66% 0.7%
2000 3.15% -1.2%
1999 1.03% 3%
1998 0.96% -1.4%
1997 1.37% 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/luxembourg/maldives | CC BY

Over the past 28 years, Luxembourg has recorded an average annual inflation rate of 2.1%, compared with 3.2% in Maldives. In 2024, inflation was 2.05% in Luxembourg and 1.4% in Maldives.

Top exports between countries

Luxembourg
Export category Export value
Machinery & equipment $38K
Wood & paper products $16K
Textiles & consumer goods $12K
Animal & marine products $8K
Raw materials & minerals $7K
Chemicals & pharma $5K
Metals $2K
Maldives
Export category Export value

Balance of trade

Luxembourg Maldives
Current account balance
$4.1B
2024
-$1.32B
2024
Current account balance ranking
35/190
2024
130/190
2024
Current account balance, % of GDP
+4.4%
2024
-18.7%
2024
Goods imports
$29.4B
2024
$3.46B
2024
Goods exports
$31.3B
2024
$383M
2024
Service imports
$117B
2024
$1.89B
2024
Service exports
$150B
2024
$5.03B
2024
Imports of goods and services, % of GDP
159.7%
2024
78.3%
2024
Exports of goods and services, % of GDP
191.5%
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.

Luxembourg Maldives
Economic freedom 79.7 47.6
Economic freedom ranking 7/197 174/197
Property rights 96.6 52.2
Government integrity 88.7 41.9
Judicial effectiveness 99.1 39.3
Tax burden 62.3 89.9
Government spending 36.9 39.5
Fiscal health 98.6 0
Business freedom 89.5 49.7
Labor freedom 56.7 54.1
Monetary freedom 74.1 76.4
Trade freedom 79.4 62.8
Investment freedom 95 35
Financial freedom 80 30

Economic freedom comparison by year

Luxembourg
Maldives
1x
Year Economic freedom index
Luxembourg Maldives
2026 79.7 47.6
2025 79.5 48.3
2024 79.2 47.8
2023 78.4 46.6
2022 80.6 47.3
2021 76 55.2
2020 75.8 56.5
2019 75.9 53.2
2018 76.4 51.1
2017 75.9 50.3
2016 73.9 53.9
2015 73.2 53.4
2014 74.2 51
2013 74.2 49
2012 74.5 49.2
2011 76.2 48.3
2010 75.4 49
2009 75.2 51.3
2008 74.7 -
2007 74.6 -
2006 75.3 -
2005 76.3 -
2004 78.9 -
2003 79.9 -
2002 79.4 -
2001 80.1 -
2000 76.4 -
1999 72.4 -
1998 72.7 -
1997 72.8 -
1996 72.5 -

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

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

The Economic Freedom Index for Luxembourg is 79.7, ranking 7/197, 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

Luxembourg Maldives
Services, % of GDP
81.2%
2024
72.1%
2024
Industry, % of GDP
9.66%
2024
9.2%
2024
Agriculture, forestry, and fishing, % of GDP
0.21%
2024
3.84%
2024
GNI, Atlas method
$57.3B
2024
$6.15B
2024
GNI per capita, PPP
$110,650
2024
$23,400
2024
Total reserves including gold
$2.79B
2024
$674M
2024
Total reserves ranking
119/177
2024
150/177
2024
Net foreign direct investment
$21.4B
2024
-$806M
2024
Net inflows of foreign direct investment
$106B
2024
$806M
2024
Net outflows of foreign direct investment
$109B
2024
$0
2024
Servicing debt to the IMF, % of GNI n/a
7.95%
2024
Poverty at national poverty lines
17.3%
2021
15%
2020
Gross capital formation, % of GDP
15.8%
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/luxembourg/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 (1996–2026, 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 (1990–1996, 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.