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Economy of Maldives vs Saint Vincent compared: GDP & Debt

Updated on by Georank team

Maldives has a GDP of $7.06B compared to $1.16B for Saint Vincent, ranking 159/197 and 186/197 by economy size, respectively.

Maldives has $9.41B in government debt (133.3% of GDP), compared to $1.07B (92.7% of GDP) in Saint Vincent.

Maldives vs Saint Vincent GDP by year

Maldives
Saint Vincent
1x
Year GDP, current $
Maldives Saint Vincent
2024 $7,061,608,267 $1,157,207,407
2023 $6,621,008,704 $1,072,237,037
2022 $6,177,123,352 $989,188,889
2021 $5,252,457,370 $888,677,778
2020 $3,712,604,583 $864,566,667
2019 $5,726,094,799 $910,481,481
2018 $5,404,344,163 $884,329,630
2017 $4,816,426,257 $844,040,741
2016 $4,409,942,624 $814,303,704
2015 $4,129,505,319 $786,555,556
2014 $3,697,353,039 $770,900,000
2013 $3,295,009,238 $764,781,259
2012 $2,886,163,997 $730,032,593
2011 $2,774,350,240 $713,796,370
2010 $2,588,176,055 $720,447,889
2009 $2,345,294,875 $714,300,259
2008 $2,271,646,188 $732,663,259
2007 $1,868,383,461 $713,596,667
2006 $1,575,200,391 $643,501,148
2005 $1,163,362,438 $579,948,926
2004 $1,226,829,563 $549,900,185
2003 $1,052,121,055 $509,090,889
2002 $897,031,250 $487,763,852
2001 $870,031,677 $462,072,333
2000 $624,337,145 $427,946,037
1999 $589,239,754 $390,718,519
1998 $540,096,398 $373,618,519
1997 $508,223,602 $347,770,370
1996 $450,382,328 $331,488,889
1995 $398,988,955 $316,007,407
1994 $356,014,932 $289,437,037
1993 $322,417,837 $286,307,407
1992 $284,875,809 $277,955,556
1991 $244,396,762 $254,829,630
1990 $215,043,970 $240,366,667
1989 $189,514,434 $214,745,002
1988 $168,514,513 $200,726,713
1987 $141,223,029 $175,580,647
1986 $141,882,254 $160,846,657
1985 $127,190,758 $145,641,705
1984 $109,503,546 $135,024,988
1983 $57,829,787 $122,255,350
1982 $47,911,340 $113,759,203
1981 $44,781,457 $102,086,539
1980 $42,463,576 $82,340,340
1979 $38,523,364 $71,096,360
1978 $24,369,109 $60,844,771
1977 $20,853,789 $49,353,162
1976 $22,399,467 $32,792,845
1975 $24,540,878 $33,237,226
1974 $39,120,171 $32,923,703
1973 $30,862,042 $30,165,081
1972 $25,177,138 $27,585,805
1971 $21,566,404 $20,051,922
1970 $19,328,038 $18,450,000
1969 - $16,650,000
1968 - $15,350,000
1967 - $15,835,106
1966 - $16,099,960
1965 - $15,108,296
1964 - $14,758,296
1963 - $13,708,299
1962 - $14,524,964
1961 - $13,999,965
1960 - $13,066,634

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

GeoRank.org/economy/maldives/saint-vincent | CC BY

GDP per capita in Maldives vs Saint Vincent by year

Maldives
GDP per capita

GDP per capita, PPP
Saint Vincent
GDP per capita

GDP per capita, PPP
1x
Year Current $
Maldives Saint Vincent
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $13,379 $26,183 $11,501 $21,272
2023 $12,588 $24,786 $10,582 $19,820
2022 $11,786 $22,881 $9,694 $18,035
2021 $10,176 $19,053 $8,641 $16,201
2020 $7,394 $13,425 $8,351 $15,337
2019 $11,740 $23,077 $8,741 $15,340
2018 $11,423 $21,899 $8,428 $14,690
2017 $10,510 $19,768 $7,988 $13,575
2016 $9,948 $18,770 $7,657 $13,493
2015 $9,645 $17,875 $7,354 $12,379
2014 $8,939 $16,723 $7,169 $12,136
2013 $8,236 $15,264 $7,072 $11,625
2012 $7,461 $13,989 $6,714 $10,989
2011 $7,425 $13,726 $6,528 $10,774
2010 $7,174 $12,797 $6,552 $10,561
2009 $6,734 $12,266 $6,464 $10,869
2008 $6,757 $13,779 $6,599 $10,902
2007 $5,758 $12,852 $6,398 $10,604
2006 $5,019 $12,075 $5,745 $9,949
2005 $3,797 $9,704 $5,157 $8,986
2004 $4,070 $10,770 $4,873 $8,472
2003 $3,549 $10,065 $4,500 $7,903
2002 $3,076 $8,823 $4,303 $7,250
2001 $3,034 $8,236 $4,071 $6,768
2000 $2,214 $8,526 $3,769 $6,503
1999 $2,124 $8,162 $3,447 $6,266
1998 $1,980 $7,710 $3,301 $6,026
1997 $1,898 $7,226 $3,074 $5,726
1996 $1,717 $6,687 $2,930 $5,440
1995 $1,555 $6,223 $2,795 $5,277
1994 $1,419 $5,520 $2,563 $4,802
1993 $1,317 $5,138 $2,540 $4,769
1992 $1,194 $4,881 $2,471 $4,477
1991 $1,054 $4,604 $2,271 $4,126
1990 $957 $4,528 $2,150 $3,960
1989 $870 - $1,930 -
1988 $799 - $1,814 -
1987 $692 - $1,596 -
1986 $720 - $1,472 -
1985 $669 - $1,342 -
1984 $594 - $1,254 -
1983 $323 - $1,144 -
1982 $274.8 - $1,074 -
1981 $264.1 - $972 -
1980 $257.6 - $790 -
1979 $240.2 - $687 -
1978 $156.1 - $592 -
1977 $137.3 - $484 -
1976 $151.8 - $324 -
1975 $171.4 - $331 -
1974 $281.5 - $331 -
1973 $228.7 - $306 -
1972 $192.2 - $282.1 -
1971 $169.8 - $207 -
1970 $156.9 - $192.3 -
1969 - - $175.2 -
1968 - - $163.1 -
1967 - - $170 -
1966 - - $174.9 -
1965 - - $166.2 -
1964 - - $164.4 -
1963 - - $154.9 -
1962 - - $166.5 -
1961 - - $163 -
1960 - - $154.8 -

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

GeoRank.org/economy/maldives/saint-vincent | CC BY

Maldives' GDP per capita is $13,379, ranking 75/197, compared to $11,501 in Saint Vincent, ranking 81/197. Adjusted for purchasing power (GDP per capita PPP), Maldives ranks 81st at $26,183, while Saint Vincent ranks 92nd at $21,272.

Economic indicators

Maldives Saint Vincent
Gross domestic product
$7.06B
2024
$1.16B
2024
GDP rank
159/197
2024
186/197
2024
GDP growth
3.49%
2023-2024
4.06%
2023-2024
GDP per capita
$13,379
2024
$11,501
2024
GDP per capita rank
75/197
2024
81/197
2024
GDP per capita, PPP
$26,183
2024
$21,272
2024
GDP per capita PPP rank
81/197
2024
92/197
2024
Government debt
$9.41B
2024
$1.07B
2024
Debt-to-GDP ratio
133.3%
2024
92.7%
2024
Government debt per person
$17,837
2024
$10,659
2024
Government debt per person rank
35/185
2024
56/185
2024
Average annual personal income after taxes
$9,909
2026
$12,573
2026
Income share by richest 10%
23.3%
2019
n/a
Income share by poorest 10%
3.8%
2019
n/a
Government expenditure, % of GDP
46.1%
2024
39.1%
2024
Consumer prices inflation
1.4%
2023-2024
3.63%
2023-2024
Unemployment rate
4.56%
2019
18.8%
2008
Population
532057
99237

Spending and national debt comparison by year

Maldives
Spending

Debt
Saint Vincent
Spending

Debt
1x
Year % of GDP
Maldives Saint Vincent
Government spending Government debt Government spending Government debt
2024 46.1% 133.3% 39.1% 92.7%
2023 46.7% 122.4% 38.9% 89.4%
2022 42% 111.6% 36.6% 86.3%
2021 40.6% 123.4% 37.2% 88.4%
2020 50.4% 155.7% 32.9% 80.2%
2019 32.9% 77.2% 29.2% 68.2%
2018 31.9% 70.7% 26.3% 69.4%
2017 30.4% 63.8% 26.6% 69%
2016 37.3% 61.9% 27.1% 79.4%
2015 33.8% 54.8% 27.6% 75.1%
2014 29.1% 55.1% 30.4% 75%
2013 27% 55.9% 29.4% 69.9%
2012 29.8% 57.1% 26.5% 68.1%
2011 31.3% 51.9% 29.4% 64%
2010 33.2% 52.7% 31.1% 61.1%
2009 37% 48.4% 31% 57.2%
2008 35.6% 39% 28.4% 50.3%
2007 34.8% 35.8% 27.1% 48.5%
2006 35% 36.8% 26.1% 44.7%
2005 38.8% 43.2% 26.7% 50.5%
2004 24.1% 34.7% 24.9% 58.6%
2003 26.4% 37.6% 26% 55.3%
2002 29.6% 44.3% 25.7% 53.2%
2001 29.6% 41.8% 24.4% 52%
2000 29% 39% 23.8% 54.3%
1999 28% 38.9% 25.2% 52.9%
1998 25.9% 39.3% 25.2% 39.5%
1997 25.2% 38.1% 26% 38.8%
1996 27.3% 46.9% 20.9% 40.7%
1995 31.3% 52.2% 19.9% 46.8%
1994 30.7% 54.6% 22.4% 52.8%
1993 34.7% 55.7% 22.3% 48.1%
1992 36.1% 49% 25.4% 49.6%
1991 37.7% 46.7% 25.5% 52.1%
1990 33.3% 42.4% 23.1% 53.9%
1989 - - 27.6% -
1988 - - 24.8% -
1987 - - 23.7% -
1986 - - 22.3% -
1985 - - 21.4% -
1984 - - 23.1% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1984–1996, retrieved 2026-02-20).

GeoRank.org/economy/maldives/saint-vincent | CC BY

In 2024, Maldives' government spending was $3.25B, accounting for 46.1% of its GDP, while Saint Vincent spent $453M, or 39.1% of GDP.

Debt-to-GDP ratio is 133.3% in Maldives and 92.7% in Saint Vincent, ranking 10/185 and 29/185, respectively.

Government deficit by year

Deficit/surplus
Maldives

Saint Vincent
1x
Year Deficit/surplus, % of GDP
Maldives Saint Vincent
2024 -13.9% -12.9%
2023 -13.2% -12%
2022 -11.2% -9.35%
2021 -14.2% -7.19%
2020 -23.7% -5.92%
2019 -6.54% -3.45%
2018 -5.17% -1.65%
2017 -3.02% -1.56%
2016 -9.93% 0.04%
2015 -6.52% -2.01%
2014 -2.42% -2.82%
2013 -3.49% -5.81%
2012 -6.91% -1.81%
2011 -8.13% -3.5%
2010 -13.6% -3.7%
2009 -17.9% -2.85%
2008 -9.92% -1.3%
2007 -3.16% -3.07%
2006 -4.52% -3.13%
2005 -7.81% -4.3%
2004 -2.26% -2.71%
2003 -3.45% -2.51%
2002 -3.97% -2%
2001 -3.97% -1.6%
2000 -3.89% -0.82%
1999 -3.03% -1.93%
1998 -2.25% -1.81%
1997 -1.46% -2.77%
1996 -2.01% 1.57%
1995 -5.66% 1.08%
1994 -4.82% 0.12%
1993 -13.9% -1.46%
1992 -12.6% -3.25%
1991 -10.2% -0.47%
1990 -12.8% 1.69%
1989 - -1.92%
1988 - 0.59%
1987 - 1.1%
1986 - 2.32%
1985 - 4.23%
1984 - 2.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1984–1989, retrieved 2026-02-20).

GeoRank.org/economy/maldives/saint-vincent | CC BY

In 2024, Maldives' government deficit, the difference between spending and revenue, was $982M, equivalent to 13.9% of GDP. This compares to Saint Vincent's deficit of $149M, or 12.9% of GDP.

Over the past 35 years, Maldives recorded a fiscal deficit in 35 of those years, while Saint Vincent ran a deficit in 30 years. On average, Maldives posted an annual deficit equal to 7.75% of GDP, compared to deficit of 3% of GDP for Saint Vincent.

Inflation comparison by year

Inflation
Maldives

Saint Vincent
1x
Year Consumer prices inflation
Maldives Saint Vincent
2024 1.4% 3.63%
2023 2.6% 4.56%
2022 2.6% 5.66%
2021 0.2% 1.57%
2020 -1.6% -0.63%
2019 1.3% 0.91%
2018 1.4% 2.32%
2017 2.3% 2.15%
2016 0.8% -0.15%
2015 1.4% -1.73%
2014 2.4% 0.19%
2013 4% 0.81%
2012 10.9% 2.6%
2011 11.3% 3.19%
2010 6.1% 0.75%
2009 4.5% 0.42%
2008 12% 10.1%
2007 6.8% 7.24%
2006 3.5% 2.74%
2005 2.5% 3.73%
2004 6.3% 2.96%
2003 -2.8% 0.21%
2002 0.9% 1.86%
2001 0.7% 0.9%
2000 -1.2% 0.17%
1999 3% 1.01%
1998 -1.4% 2.14%
1997 7.6% 0.44%

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/saint-vincent | CC BY

Over the past 28 years, Maldives has recorded an average annual inflation rate of 3.2%, compared with 2.13% in Saint Vincent. In 2024, inflation was 1.4% in Maldives and 3.63% in Saint Vincent.

Balance of trade

Maldives Saint Vincent
Current account balance
-$1.32B
2024
-$157M
2024
Current account balance ranking
130/190
2024
93/190
2024
Current account balance, % of GDP
-18.7%
2024
-13.5%
2024
Goods imports
$3.46B
2024
$445M
2024
Goods exports
$383M
2024
$59.2M
2024
Service imports
$1.89B
2024
$196M
2024
Service exports
$5.03B
2024
$366M
2024
Imports of goods and services, % of GDP
78.3%
2024
n/a
Exports of goods and services, % of GDP
78.2%
2024
15.3%
2025

Economic freedom indices

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

Maldives Saint Vincent
Economic freedom 47.6 60
Economic freedom ranking 174/197 98/197
Property rights 52.2 65.2
Government integrity 41.9 63.3
Judicial effectiveness 39.3 76.9
Tax burden 89.9 82
Government spending 39.5 56.2
Fiscal health 0 2.8
Business freedom 49.7 67.3
Labor freedom 54.1 60.1
Monetary freedom 76.4 77.3
Trade freedom 62.8 58.8
Investment freedom 35 70
Financial freedom 30 40

Economic freedom comparison by year

Maldives
Saint Vincent
1x
Year Economic freedom index
Maldives Saint Vincent
2026 47.6 60
2025 48.3 60.1
2024 47.8 59.8
2023 46.6 63.5
2022 47.3 65.7
2021 55.2 66.3
2020 56.5 66.8
2019 53.2 65.8
2018 51.1 67.7
2017 50.3 65.2
2016 53.9 68.8
2015 53.4 68
2014 51 67
2013 49 66.7
2012 49.2 66.5
2011 48.3 66.9
2010 49 66.9
2009 51.3 64.3

Data sources: The Heritage Foundation | Economic Freedom Index (2009–2026, retrieved 2026-03-09).

GeoRank.org/economy/maldives/saint-vincent | CC BY

The Economic Freedom Index for Maldives is 47.6, ranking 174/197, compared to 60 for Saint Vincent, ranking 98/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Maldives Saint Vincent
Services, % of GDP
72.1%
2024
66.4%
2024
Industry, % of GDP
9.2%
2024
15.4%
2024
Agriculture, forestry, and fishing, % of GDP
3.84%
2024
3.55%
2024
GNI, Atlas method
$6.15B
2024
$1.11B
2024
GNI per capita, PPP
$23,400
2024
$21,150
2024
Total reserves including gold
$674M
2024
$317M
2024
Total reserves ranking
150/177
2024
167/177
2024
Net foreign direct investment
-$806M
2024
-$74M
2024
Net inflows of foreign direct investment
$806M
2024
$139M
2024
Net outflows of foreign direct investment
$0
2024
-$1.92M
2024
Servicing debt to the IMF, % of GNI
7.95%
2024
3.84%
2024
Poverty at national poverty lines
15%
2020
n/a
Gross capital formation, % of GDP
30.8%
2024
n/a

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/saint-vincent | 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 (2009–2026, 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 (1984–1996, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. 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.