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Economy of Maldives vs Mauritius compared: GDP & Debt

Updated on by Georank team

Maldives has a GDP of $7.06B compared to $14.9B for Mauritius, ranking 159/197 and 143/197 by economy size, respectively.

Maldives has $9.41B in government debt (133.3% of GDP), compared to $13.6B (91.1% of GDP) in Mauritius.

Maldives vs Mauritius GDP by year

Maldives
Mauritius
1x
Year GDP, current $
Maldives Mauritius
2024 $7,061,608,267 $14,937,861,786
2023 $6,621,008,704 $14,072,212,290
2022 $6,177,123,352 $12,936,444,123
2021 $5,252,457,370 $11,622,048,697
2020 $3,712,604,583 $11,566,111,138
2019 $5,726,094,799 $14,645,235,205
2018 $5,404,344,163 $14,957,535,716
2017 $4,816,426,257 $13,896,938,315
2016 $4,409,942,624 $12,757,680,847
2015 $4,129,505,319 $12,162,211,503
2014 $3,697,353,039 $13,230,490,082
2013 $3,295,009,238 $12,434,596,541
2012 $2,886,163,997 $11,832,323,837
2011 $2,774,350,240 $11,677,718,382
2010 $2,588,176,055 $10,144,716,155
2009 $2,345,294,875 $9,264,513,545
2008 $2,271,646,188 $10,127,777,060
2007 $1,868,383,461 $8,277,442,915
2006 $1,575,200,391 $7,137,710,413
2005 $1,163,362,438 $6,576,108,447
2004 $1,226,829,563 $6,667,418,752
2003 $1,052,121,055 $5,894,873,920
2002 $897,031,250 $4,906,494,249
2001 $870,031,677 $4,675,755,867
2000 $624,337,145 $4,726,108,622
1999 $589,239,754 $4,402,193,195
1998 $540,096,398 $4,225,813,976
1997 $508,223,602 $4,243,755,308
1996 $450,382,328 $4,481,489,762
1995 $398,988,955 $4,094,741,652
1994 $356,014,932 $3,606,050,873
1993 $322,417,837 $3,307,302,126
1992 $284,875,809 $3,267,677,814
1991 $244,396,762 $2,895,354,736
1990 $215,043,970 $2,689,212,760
1989 $189,514,434 $2,211,312,823
1988 $168,514,513 $2,163,252,449
1987 $141,223,029 $1,906,174,438
1986 $141,882,254 $1,482,601,552
1985 $127,190,758 $1,090,611,325
1984 $109,503,546 $1,054,564,759
1983 $57,829,787 $1,104,956,573
1982 $47,911,340 $1,092,923,636
1981 $44,781,457 $1,157,769,444
1980 $42,463,576 $1,147,027,924
1979 $38,523,364 $1,227,446,632
1978 $24,369,109 $1,029,040,323
1977 $20,853,789 $834,722,972
1976 $22,399,467 $713,510,052
1975 $24,540,878 $673,311,287
1974 $39,120,171 $669,894,030
1973 $30,862,042 $404,285,775
1972 $25,177,138 $318,664,900
1971 $21,566,404 $251,437,338
1970 $19,328,038 $224,125,805
1969 - $221,553,613
1968 - $206,576,631
1967 - $238,439,291
1966 - $227,534,083
1965 - $230,024,161
1964 - $218,914,569
1963 - $253,839,558
1962 - $197,738,208
1961 - $191,757,729
1960 - $162,089,564

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

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

GDP per capita in Maldives vs Mauritius by year

Maldives
GDP per capita

GDP per capita, PPP
Mauritius
GDP per capita

GDP per capita, PPP
1x
Year Current $
Maldives Mauritius
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $13,379 $26,183 $11,991 $31,840
2023 $12,588 $24,786 $11,270 $29,561
2022 $11,786 $22,881 $10,247 $26,874
2021 $10,176 $19,053 $9,178 $23,010
2020 $7,394 $13,425 $9,136 $21,622
2019 $11,740 $23,077 $11,568 $24,375
2018 $11,423 $21,899 $11,819 $23,416
2017 $10,510 $19,768 $10,987 $22,898
2016 $9,948 $18,770 $10,095 $21,952
2015 $9,645 $17,875 $9,631 $20,270
2014 $8,939 $16,723 $10,490 $19,294
2013 $8,236 $15,264 $9,877 $18,435
2012 $7,461 $13,989 $9,422 $17,259
2011 $7,425 $13,726 $9,324 $16,884
2010 $7,174 $12,797 $8,113 $15,920
2009 $6,734 $12,266 $7,427 $15,105
2008 $6,757 $13,779 $8,141 $14,569
2007 $5,758 $12,852 $6,677 $13,612
2006 $5,019 $12,075 $5,784 $12,593
2005 $3,797 $9,704 $5,354 $11,703
2004 $4,070 $10,770 $5,461 $11,216
2003 $3,549 $10,065 $4,858 $10,535
2002 $3,076 $8,823 $4,073 $9,824
2001 $3,034 $8,236 $3,909 $9,586
2000 $2,214 $8,526 $3,982 $9,143
1999 $2,124 $8,162 $3,746 $8,344
1998 $1,980 $7,710 $3,642 $8,121
1997 $1,898 $7,226 $3,696 $7,651
1996 $1,717 $6,687 $3,952 $7,206
1995 $1,555 $6,223 $3,648 $6,771
1994 $1,419 $5,520 $3,240 $6,414
1993 $1,317 $5,138 $3,014 $6,116
1992 $1,194 $4,881 $3,013 $5,753
1991 $1,054 $4,604 $2,705 $5,351
1990 $957 $4,528 $2,540 $5,010
1989 $870 - $2,103 -
1988 $799 - $2,074 -
1987 $692 - $1,840 -
1986 $720 - $1,442 -
1985 $669 - $1,069 -
1984 $594 - $1,042 -
1983 $323 - $1,103 -
1982 $274.8 - $1,101 -
1981 $264.1 - $1,181 -
1980 $257.6 - $1,187 -
1979 $240.2 - $1,292 -
1978 $156.1 - $1,102 -
1977 $137.3 - $906 -
1976 $151.8 - $787 -
1975 $171.4 - $755 -
1974 $281.5 - $763 -
1973 $228.7 - $467 -
1972 $192.2 - $374 -
1971 $169.8 - $299.6 -
1970 $156.9 - $271.3 -
1969 - - $272.7 -
1968 - - $258.7 -
1967 - - $304 -
1966 - - $296 -
1965 - - $305 -
1964 - - $297.3 -
1963 - - $353 -
1962 - - $282.3 -
1961 - - $281.7 -
1960 - - $238.3 -

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

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

Maldives' GDP per capita is $13,379, ranking 75/197, compared to $11,991 in Mauritius, ranking 78/197. Adjusted for purchasing power (GDP per capita PPP), Maldives ranks 81st at $26,183, while Mauritius ranks 71st at $31,840.

Economic indicators

Maldives Mauritius
Gross domestic product
$7.06B
2024
$14.9B
2024
GDP rank
159/197
2024
143/197
2024
GDP growth
3.49%
2023-2024
4.93%
2023-2024
GDP per capita
$13,379
2024
$11,991
2024
GDP per capita rank
75/197
2024
78/197
2024
GDP per capita, PPP
$26,183
2024
$31,840
2024
GDP per capita PPP rank
81/197
2024
71/197
2024
Government debt
$9.41B
2024
$13.6B
2024
Debt-to-GDP ratio
133.3%
2024
91.1%
2024
Government debt per person
$17,837
2024
$10,929
2024
Government debt per person rank
35/185
2024
54/185
2024
Average annual personal income after taxes
$9,909
2026
$7,203
2026
Market capitalization of domestic companies n/a
$9.12B
2024
Income share by richest 10%
23.3%
2019
29.9%
2017
Income share by poorest 10%
3.8%
2019
2.9%
2017
Government expenditure, % of GDP
46.1%
2024
33.7%
2024
Consumer prices inflation
1.4%
2023-2024
3.6%
2023-2024
Central bank interest rate n/a
4.5%
2025
Unemployment rate
4.56%
2019
5.21%
2024
Population
532057
1240121

Spending and national debt comparison by year

Maldives
Spending

Debt
Mauritius
Spending

Debt
1x
Year % of GDP
Maldives Mauritius
Government spending Government debt Government spending Government debt
2024 46.1% 133.3% 33.7% 91.1%
2023 46.7% 122.4% 29.9% 85.6%
2022 42% 111.6% 29.4% 86.9%
2021 40.6% 123.4% 30.8% 93.8%
2020 50.4% 155.7% 32.6% 93.4%
2019 32.9% 77.2% 27.8% 74.6%
2018 31.9% 70.7% 24.3% 64.1%
2017 30.4% 63.8% 24.3% 63%
2016 37.3% 61.9% 24% 64.3%
2015 33.8% 54.8% 24.5% 65%
2014 29.1% 55.1% 23% 60.6%
2013 27% 55.9% 24.1% 58.2%
2012 29.8% 57.1% 22.5% 55.9%
2011 31.3% 51.9% 23.7% 56.5%
2010 33.2% 52.7% 24% 56.4%
2009 37% 48.4% 25.2% 58.4%
2008 35.6% 39% 22.7% 49.4%
2007 34.8% 35.8% 21.5% 51.6%
2006 35% 36.8% 22.2% 59.3%
2005 38.8% 43.2% 23% 61.7%
2004 24.1% 34.7% 22.6% 61.1%
2003 26.4% 37.6% 23.4% 70.8%
2002 29.6% 44.3% 23.3% 66.7%
2001 29.6% 41.8% 22.4% 60.5%
2000 29% 39% 22.2% 59.7%
1999 28% 38.9% 27.5% -
1998 25.9% 39.3% 26.6% -
1997 25.2% 38.1% 27.5% -
1996 27.3% 46.9% 27.4% -
1995 31.3% 52.2% 27.3% -
1994 30.7% 54.6% 27.5% -
1993 34.7% 55.7% 24.5% -
1992 36.1% 49% 26.8% -
1991 37.7% 46.7% 27.2% -
1990 33.3% 42.4% 30.2% -

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/maldives/mauritius | CC BY

In 2024, Maldives' government spending was $3.25B, accounting for 46.1% of its GDP, while Mauritius spent $5.03B, or 33.7% of GDP.

Debt-to-GDP ratio is 133.3% in Maldives and 91.1% in Mauritius, ranking 10/185 and 30/185, respectively.

Government deficit by year

Deficit/surplus
Maldives

Mauritius
1x
Year Deficit/surplus, % of GDP
Maldives Mauritius
2024 -13.9% -7.47%
2023 -13.2% -4.7%
2022 -11.2% -3.34%
2021 -14.2% -4.45%
2020 -23.7% -10.6%
2019 -6.54% -7.53%
2018 -5.17% -2.19%
2017 -3.02% -1.66%
2016 -9.93% -2.81%
2015 -6.52% -3.59%
2014 -2.42% -3.13%
2013 -3.49% -3.4%
2012 -6.91% -1.78%
2011 -8.13% -3.09%
2010 -13.6% -3.07%
2009 -17.9% -3.41%
2008 -9.92% -2.66%
2007 -3.16% -3.09%
2006 -4.52% -4.14%
2005 -7.81% -4.44%
2004 -2.26% -4.34%
2003 -3.45% -4.82%
2002 -3.97% -5.18%
2001 -3.97% -5.53%
2000 -3.89% -4.4%
1999 -3.03% -
1998 -2.25% -
1997 -1.46% -
1996 -2.01% -
1995 -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/maldives/mauritius | CC BY

In 2024, Maldives' government deficit, the difference between spending and revenue, was $982M, equivalent to 13.9% of GDP. This compares to Mauritius' deficit of $1.12B, or 7.47% of GDP.

Over the past 25 years, Maldives recorded a fiscal deficit in 25 of those years, while Mauritius ran a deficit in 25 years. On average, Maldives posted an annual deficit equal to 8.11% of GDP, compared to deficit of 4.19% of GDP for Mauritius.

Inflation comparison by year

Inflation
Maldives

Mauritius
1x
Year Consumer prices inflation
Maldives Mauritius
2024 1.4% 3.6%
2023 2.6% 7.05%
2022 2.6% 10.8%
2021 0.2% 4.03%
2020 -1.6% 2.58%
2019 1.3% 0.41%
2018 1.4% 3.22%
2017 2.3% 3.67%
2016 0.8% 0.98%
2015 1.4% 1.29%
2014 2.4% 3.22%
2013 4% 3.54%
2012 10.9% 3.85%
2011 11.3% 6.52%
2010 6.1% 2.93%
2009 4.5% 2.52%
2008 12% 9.73%
2007 6.8% 8.83%
2006 3.5% 8.91%
2005 2.5% 4.94%
2004 6.3% 4.71%
2003 -2.8% 3.92%
2002 0.9% 6.42%
2001 0.7% 5.39%
2000 -1.2% 4.2%
1999 3% 6.91%
1998 -1.4% 6.81%
1997 7.6% 6.83%

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/maldives/mauritius | CC BY

Over the past 28 years, Maldives has recorded an average annual inflation rate of 3.2%, compared with 4.92% in Mauritius. In 2024, inflation was 1.4% in Maldives and 3.6% in Mauritius.

Top exports between countries

Maldives
Export category Export value
Animal & marine products $905K
Mauritius
Export category Export value
Textiles & consumer goods $1.33M
Machinery & equipment $98K
Chemicals & pharma $71K
Animal & marine products $70K
Metals $30K
Wood & paper products $27K
Processed food, beverages & tobacco $23K
Raw materials & minerals $9K
Raw agricultural goods $7K
Miscellaneous $2K

Balance of trade

Maldives Mauritius
Current account balance
-$1.32B
2024
-$1.05B
2024
Current account balance ranking
130/190
2024
126/190
2024
Current account balance, % of GDP
-18.7%
2024
-7.03%
2024
Goods imports
$3.46B
2024
$6.35B
2024
Goods exports
$383M
2024
$2.37B
2024
Service imports
$1.89B
2024
$2.28B
2024
Service exports
$5.03B
2024
$4.19B
2024
Imports of goods and services, % of GDP
78.3%
2024
78.3%
2024
Exports of goods and services, % of GDP
78.2%
2024
67.1%
2024

Economic freedom indices

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

Maldives Mauritius
Economic freedom 47.6 73
Economic freedom ranking 174/197 26/197
Property rights 52.2 83.9
Government integrity 41.9 53.4
Judicial effectiveness 39.3 80.7
Tax burden 89.9 89.6
Government spending 39.5 73.8
Fiscal health 0 45.5
Business freedom 49.7 81.5
Labor freedom 54.1 69.6
Monetary freedom 76.4 70.7
Trade freedom 62.8 87
Investment freedom 35 70
Financial freedom 30 70

Economic freedom comparison by year

Maldives
Mauritius
1x
Year Economic freedom index
Maldives Mauritius
2026 47.6 73
2025 48.3 75
2024 47.8 71.5
2023 46.6 70.6
2022 47.3 70.9
2021 55.2 77
2020 56.5 74.9
2019 53.2 73
2018 51.1 75.1
2017 50.3 74.7
2016 53.9 74.7
2015 53.4 76.4
2014 51 76.5
2013 49 76.9
2012 49.2 77
2011 48.3 76.2
2010 49 76.3
2009 51.3 74.3
2008 - 72.6
2007 - 69.4
2006 - 67.4
2005 - 67.2
2004 - 64.3
2003 - 64.4
2002 - 67.7
2001 - 66.4
2000 - 67.2
1999 - 68.5

Data sources: The Heritage Foundation | Economic Freedom Index (1999–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Maldives is 47.6, ranking 174/197, compared to 73 for Mauritius, ranking 26/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Maldives Mauritius
Services, % of GDP
72.1%
2024
64.4%
2024
Industry, % of GDP
9.2%
2024
17.8%
2024
Agriculture, forestry, and fishing, % of GDP
3.84%
2024
4.23%
2024
GNI, Atlas method
$6.15B
2024
$16.2B
2024
GNI per capita, PPP
$23,400
2024
$35,100
2024
Total reserves including gold
$674M
2024
$8.51B
2024
Total reserves ranking
150/177
2024
83/177
2024
Net foreign direct investment
-$806M
2024
$963M
2024
Net inflows of foreign direct investment
$806M
2024
$681M
2024
Net outflows of foreign direct investment
$0
2024
$38.3M
2024
Servicing debt to the IMF, % of GNI
7.95%
2024
10.1%
2024
Poverty at national poverty lines
15%
2020
8.4%
2023
Gross capital formation, % of GDP
30.8%
2024
21.2%
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/maldives/mauritius | 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 (1999–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2022–2024, 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.