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Economy of Maldives vs Morocco compared: GDP & Debt

Updated on by Georank team

Maldives has a GDP of $7.06B compared to $161B for Morocco, ranking 159/197 and 58/197 by economy size, respectively.

Maldives has $9.41B in government debt (133.3% of GDP), compared to $109B (67.7% of GDP) in Morocco.

Maldives vs Morocco GDP by year

Maldives
Morocco
1x
Year GDP, current $
Maldives Morocco
2024 $7,061,608,267 $160,610,994,055
2023 $6,621,008,704 $146,036,093,667
2022 $6,177,123,352 $131,245,312,804
2021 $5,252,457,370 $142,022,058,447
2020 $3,712,604,583 $121,353,645,057
2019 $5,726,094,799 $128,920,266,409
2018 $5,404,344,163 $127,341,147,582
2017 $4,816,426,257 $118,540,573,368
2016 $4,409,942,624 $111,572,947,005
2015 $4,129,505,319 $110,413,823,842
2014 $3,697,353,039 $119,130,841,412
2013 $3,295,009,238 $115,739,287,305
2012 $2,886,163,997 $106,937,392,311
2011 $2,774,350,240 $110,080,631,332
2010 $2,588,176,055 $100,865,329,473
2009 $2,345,294,875 $101,154,952,241
2008 $2,271,646,188 $101,822,906,949
2007 $1,868,383,461 $86,947,913,287
2006 $1,575,200,391 $75,883,823,301
2005 $1,163,362,438 $68,852,658,069
2004 $1,226,829,563 $66,114,145,451
2003 $1,052,121,055 $58,029,363,354
2002 $897,031,250 $47,077,192,188
2001 $870,031,677 $43,831,480,208
2000 $624,337,145 $43,017,455,402
1999 $589,239,754 $46,266,428,648
1998 $540,096,398 $46,497,608,725
1997 $508,223,602 $39,147,844,526
1996 $450,382,328 $43,161,571,528
1995 $398,988,955 $39,030,285,468
1994 $356,014,932 $35,604,137,423
1993 $322,417,837 $31,655,473,664
1992 $284,875,809 $33,711,069,431
1991 $244,396,762 $32,285,573,574
1990 $215,043,970 $30,179,954,775
1989 $189,514,434 $26,314,313,191
1988 $168,514,513 $25,705,296,184
1987 $141,223,029 $21,765,195,948
1986 $141,882,254 $19,462,085,540
1985 $127,190,758 $14,991,283,216
1984 $109,503,546 $14,824,667,954
1983 $57,829,787 $16,251,408,128
1982 $47,911,340 $17,692,276,734
1981 $44,781,457 $17,788,185,479
1980 $42,463,576 $21,728,516,153
1979 $38,523,364 $15,911,994,817
1978 $24,369,109 $13,236,946,234
1977 $20,853,789 $11,049,783,872
1976 $22,399,467 $9,584,297,284
1975 $24,540,878 $8,984,853,005
1974 $39,120,171 $7,675,466,449
1973 $30,862,042 $6,242,145,880
1972 $25,177,138 $5,074,117,545
1971 $21,566,404 $4,356,669,034
1970 $19,328,038 $3,956,336,244
1969 - $3,651,622,669
1968 - $3,271,422,333
1967 - $3,046,345,314
1966 - $2,876,401,297
1965 - $2,948,331,090
1964 - $2,798,345,299
1963 - $2,657,252,578
1962 - $2,379,611,125
1961 - $2,025,693,540
1960 - $2,037,154,742

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

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

GDP per capita in Maldives vs Morocco by year

Maldives
GDP per capita

GDP per capita, PPP
Morocco
GDP per capita

GDP per capita, PPP
1x
Year Current $
Maldives Morocco
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $13,379 $26,183 $4,218 $10,415
2023 $12,588 $24,786 $3,872 $9,895
2022 $11,786 $22,881 $3,516 $9,310
2021 $10,176 $19,053 $3,843 $8,623
2020 $7,394 $13,425 $3,317 $7,705
2019 $11,740 $23,077 $3,560 $8,046
2018 $11,423 $21,899 $3,553 $7,801
2017 $10,510 $19,768 $3,344 $8,115
2016 $9,948 $18,770 $3,186 $7,853
2015 $9,645 $17,875 $3,190 $7,799
2014 $8,939 $16,723 $3,483 $7,237
2013 $8,236 $15,264 $3,425 $7,542
2012 $7,461 $13,989 $3,206 $7,308
2011 $7,425 $13,726 $3,345 $7,274
2010 $7,174 $12,797 $3,107 $6,849
2009 $6,734 $12,266 $3,158 $6,629
2008 $6,757 $13,779 $3,222 $6,437
2007 $5,758 $12,852 $2,788 $6,058
2006 $5,019 $12,075 $2,466 $5,781
2005 $3,797 $9,704 $2,268 $5,275
2004 $4,070 $10,770 $2,207 $5,025
2003 $3,549 $10,065 $1,962 $4,741
2002 $3,076 $8,823 $1,612 $4,436
2001 $3,034 $8,236 $1,521 $4,269
2000 $2,214 $8,526 $1,513 $3,930
1999 $2,124 $8,162 $1,651 $3,801
1998 $1,980 $7,710 $1,683 $3,740
1997 $1,898 $7,226 $1,439 $3,502
1996 $1,717 $6,687 $1,610 $3,551
1995 $1,555 $6,223 $1,478 $3,152
1994 $1,419 $5,520 $1,369 $3,315
1993 $1,317 $5,138 $1,236 $2,979
1992 $1,194 $4,881 $1,337 $2,979
1991 $1,054 $4,604 $1,302 $3,025
1990 $957 $4,528 $1,238 $2,777
1989 $870 - $1,099 -
1988 $799 - $1,094 -
1987 $692 - $944 -
1986 $720 - $861 -
1985 $669 - $678 -
1984 $594 - $687 -
1983 $323 - $772 -
1982 $274.8 - $862 -
1981 $264.1 - $890 -
1980 $257.6 - $1,117 -
1979 $240.2 - $839 -
1978 $156.1 - $716 -
1977 $137.3 - $613 -
1976 $151.8 - $545 -
1975 $171.4 - $524 -
1974 $281.5 - $459 -
1973 $228.7 - $382 -
1972 $192.2 - $319 -
1971 $169.8 - $280.6 -
1970 $156.9 - $261.5 -
1969 - - $247.8 -
1968 - - $228 -
1967 - - $218.1 -
1966 - - $211.5 -
1965 - - $222.7 -
1964 - - $216.9 -
1963 - - $211.3 -
1962 - - $194.2 -
1961 - - $169.8 -
1960 - - $175.2 -

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

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

Maldives' GDP per capita is $13,379, ranking 75/197, compared to $4,218 in Morocco, ranking 127/197. Adjusted for purchasing power (GDP per capita PPP), Maldives ranks 81st at $26,183, while Morocco ranks 132nd at $10,415.

Economic indicators

Maldives Morocco
Gross domestic product
$7.06B
2024
$161B
2024
GDP rank
159/197
2024
58/197
2024
GDP growth
3.49%
2023-2024
3.79%
2023-2024
GDP per capita
$13,379
2024
$4,218
2024
GDP per capita rank
75/197
2024
127/197
2024
GDP per capita, PPP
$26,183
2024
$10,415
2024
GDP per capita PPP rank
81/197
2024
132/197
2024
Government debt
$9.41B
2024
$109B
2024
Debt-to-GDP ratio
133.3%
2024
67.7%
2024
Government debt per person
$17,837
2024
$2,857
2024
Government debt per person rank
35/185
2024
104/185
2024
Average annual personal income after taxes
$9,909
2026
$5,678
2026
Market capitalization of domestic companies n/a
$74.5B
2024
Number of billionaires n/a
3
2025
Income share by richest 10%
23.3%
2019
31.9%
2013
Income share by poorest 10%
3.8%
2019
2.7%
2013
Government expenditure, % of GDP
46.1%
2024
33%
2024
Consumer prices inflation
1.4%
2023-2024
0.99%
2023-2024
Central bank interest rate n/a
2.25%
2025
Unemployment rate
4.56%
2019
11.8%
2022
Population
532057
38871720

Spending and national debt comparison by year

Maldives
Spending

Debt
Morocco
Spending

Debt
1x
Year % of GDP
Maldives Morocco
Government spending Government debt Government spending Government debt
2024 46.1% 133.3% 33% 67.7%
2023 46.7% 122.4% 32% 68.7%
2022 42% 111.6% 33.7% 71.4%
2021 40.6% 123.4% 31% 69.4%
2020 50.4% 155.7% 34.1% 72.2%
2019 32.9% 77.2% 27.6% 60.3%
2018 31.9% 70.7% 27.8% 60.5%
2017 30.4% 63.8% 27.9% 60.3%
2016 37.3% 61.9% 28.6% 60.1%
2015 33.8% 54.8% 28.5% 58.4%
2014 29.1% 55.1% 30.7% 58.6%
2013 27% 55.9% 30.4% 57.1%
2012 29.8% 57.1% 32.5% 52.3%
2011 31.3% 51.9% 31.2% 48.6%
2010 33.2% 52.7% 28.7% 45.3%
2009 37% 48.4% 28.1% 42.6%
2008 35.6% 39% 28.3% 42%
2007 34.8% 35.8% 26.4% 47.1%
2006 35% 36.8% 26% 50.6%
2005 38.8% 43.2% 28.6% 54.8%
2004 24.1% 34.7% 24.5% 54.4%
2003 26.4% 37.6% 24.1% 56.9%
2002 29.6% 44.3% 25.8% 59.4%
2001 29.6% 41.8% 23.7% 60.4%
2000 29% 39% 22.8% 64.9%
1999 28% 38.9% 18.4% 63.4%
1998 25.9% 39.3% 18.7% 64.5%
1997 25.2% 38.1% 18.6% 68%
1996 27.3% 46.9% 17.6% 65.3%
1995 31.3% 52.2% 21.3% 72.2%
1994 30.7% 54.6% 21.7% 69.3%
1993 34.7% 55.7% 23.1% 74.7%
1992 36.1% 49% 22.3% 67%
1991 37.7% 46.7% 20.8% 59.1%
1990 33.3% 42.4% 22.6% 70.5%

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/morocco | CC BY

In 2024, Maldives' government spending was $3.25B, accounting for 46.1% of its GDP, while Morocco spent $53.1B, or 33% of GDP.

Debt-to-GDP ratio is 133.3% in Maldives and 67.7% in Morocco, ranking 10/185 and 60/185, respectively.

Government deficit by year

Deficit/surplus
Maldives

Morocco
1x
Year Deficit/surplus, % of GDP
Maldives Morocco
2024 -13.9% -3.92%
2023 -13.2% -4.41%
2022 -11.2% -5.37%
2021 -14.2% -5.92%
2020 -23.7% -7.15%
2019 -6.54% -3.8%
2018 -5.17% -3.52%
2017 -3.02% -3.3%
2016 -9.93% -4.49%
2015 -6.52% -4.59%
2014 -2.42% -4.78%
2013 -3.49% -4.7%
2012 -6.91% -6.63%
2011 -8.13% -6.08%
2010 -13.6% -3.93%
2009 -17.9% -1.63%
2008 -9.92% 0.63%
2007 -3.16% -0.12%
2006 -4.52% -1.8%
2005 -7.81% -5.46%
2004 -2.26% -3.31%
2003 -3.45% -3.74%
2002 -3.97% -4.37%
2001 -3.97% -3.79%
2000 -3.89% -1.97%
1999 -3.03% 3.21%
1998 -2.25% 1.47%
1997 -1.46% 1.5%
1996 -2.01% 0.87%
1995 -5.66% -2.54%
1994 -4.82% -2.51%
1993 -13.9% -2%
1992 -12.6% -1.84%
1991 -10.2% -0.9%
1990 -12.8% -1.32%

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

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

In 2024, Maldives' government deficit, the difference between spending and revenue, was $982M, equivalent to 13.9% of GDP. This compares to Morocco's deficit of $6.3B, or 3.92% of GDP.

Over the past 35 years, Maldives recorded a fiscal deficit in 35 of those years, while Morocco ran a deficit in 30 years. On average, Maldives posted an annual deficit equal to 7.75% of GDP, compared to deficit of 2.92% of GDP for Morocco.

Inflation comparison by year

Inflation
Maldives

Morocco
1x
Year Consumer prices inflation
Maldives Morocco
2024 1.4% 0.99%
2023 2.6% 6.09%
2022 2.6% 6.66%
2021 0.2% 1.4%
2020 -1.6% 0.71%
2019 1.3% 0.3%
2018 1.4% 1.8%
2017 2.3% 0.75%
2016 0.8% 1.64%
2015 1.4% 1.56%
2014 2.4% 0.44%
2013 4% 1.88%
2012 10.9% 1.29%
2011 11.3% 0.91%
2010 6.1% 0.99%
2009 4.5% 0.97%
2008 12% 3.71%
2007 6.8% 2.04%
2006 3.5% 3.28%
2005 2.5% 0.98%
2004 6.3% 1.49%
2003 -2.8% 1.17%
2002 0.9% 2.8%
2001 0.7% 0.62%
2000 -1.2% 1.89%
1999 3% 0.68%
1998 -1.4% 2.75%
1997 7.6% 1.04%

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/morocco | CC BY

Over the past 28 years, Maldives has recorded an average annual inflation rate of 3.2%, compared with 1.82% in Morocco. In 2024, inflation was 1.4% in Maldives and 0.99% in Morocco.

Top exports between countries

Maldives
Export category Export value
Morocco
Export category Export value
Textiles & consumer goods $126K
Raw agricultural goods $23K
Raw materials & minerals $10K
Wood & paper products $2K

Balance of trade

Maldives Morocco
Current account balance
-$1.32B
2024
-$1.87B
2024
Current account balance ranking
130/190
2024
141/190
2024
Current account balance, % of GDP
-18.7%
2024
-1.16%
2024
Goods imports
$3.46B
2024
$66.5B
2024
Goods exports
$383M
2024
$39.3B
2024
Service imports
$1.89B
2024
$14.3B
2024
Service exports
$5.03B
2024
$28.2B
2024
Imports of goods and services, % of GDP
78.3%
2024
50.2%
2024
Exports of goods and services, % of GDP
78.2%
2024
42%
2024

Economic freedom indices

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

Maldives Morocco
Economic freedom 47.6 61.8
Economic freedom ranking 174/197 91/197
Property rights 52.2 55.2
Government integrity 41.9 35.6
Judicial effectiveness 39.3 32.5
Tax burden 89.9 65.5
Government spending 39.5 67.5
Fiscal health 0 57.5
Business freedom 49.7 72.1
Labor freedom 54.1 46.2
Monetary freedom 76.4 79.6
Trade freedom 62.8 69.8
Investment freedom 35 80
Financial freedom 30 80

Economic freedom comparison by year

Maldives
Morocco
1x
Year Economic freedom index
Maldives Morocco
2026 47.6 61.8
2025 48.3 60.3
2024 47.8 56.8
2023 46.6 58.4
2022 47.3 59.2
2021 55.2 63.3
2020 56.5 63.3
2019 53.2 62.9
2018 51.1 61.9
2017 50.3 61.5
2016 53.9 61.3
2015 53.4 60.1
2014 51 58.3
2013 49 59.6
2012 49.2 60.2
2011 48.3 59.6
2010 49 59.2
2009 51.3 57.7
2008 - 55.6
2007 - 56.4
2006 - 51.5
2005 - 52.2
2004 - 56.7
2003 - 57.8
2002 - 59
2001 - 63.9
2000 - 63.2
1999 - 63.8
1998 - 61.1
1997 - 64.7
1996 - 64.3
1995 - 62.8

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

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

The Economic Freedom Index for Maldives is 47.6, ranking 174/197, compared to 61.8 for Morocco, ranking 91/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Maldives Morocco
Services, % of GDP
72.1%
2024
52.7%
2024
Industry, % of GDP
9.2%
2024
25.6%
2024
Agriculture, forestry, and fishing, % of GDP
3.84%
2024
10.6%
2024
GNI, Atlas method
$6.15B
2024
$149B
2024
GNI per capita, PPP
$23,400
2024
$10,260
2024
Total reserves including gold
$674M
2024
$37.1B
2024
Total reserves ranking
150/177
2024
52/177
2024
Net foreign direct investment
-$806M
2024
-$948M
2024
Net inflows of foreign direct investment
$806M
2024
$1.64B
2024
Net outflows of foreign direct investment
$0
2024
$691M
2024
Servicing debt to the IMF, % of GNI
7.95%
2024
5.63%
2024
Poverty at national poverty lines
15%
2020
3.9%
2022
Gross capital formation, % of GDP
30.8%
2024
30.1%
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/morocco | 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 (1990–1996, retrieved 2026-02-20)
  6. TradeMap (2022–2023, 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.