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Economy of Maldives vs Saudi Arabia compared: GDP & Debt

Updated on by Georank team

Maldives has a GDP of $7.06B compared to $1.24T for Saudi Arabia, ranking 159/197 and 18/197 by economy size, respectively.

Maldives has $9.41B in government debt (133.3% of GDP), compared to $324B (26.2% of GDP) in Saudi Arabia.

Maldives vs Saudi Arabia GDP by year

Maldives
Saudi Arabia
1x
Year GDP, current $
Maldives Saudi Arabia
2024 $7,061,608,267 $1,239,804,533,333
2023 $6,621,008,704 $1,218,584,533,333
2022 $6,177,123,352 $1,239,075,200,000
2021 $5,252,457,370 $982,661,066,667
2020 $3,712,604,583 $767,951,200,000
2019 $5,726,094,799 $888,890,133,333
2018 $5,404,344,163 $886,564,800,000
2017 $4,816,426,257 $741,266,133,333
2016 $4,409,942,624 $689,279,466,667
2015 $4,129,505,319 $693,414,400,000
2014 $3,697,353,039 $787,153,066,667
2013 $3,295,009,238 $769,755,733,333
2012 $2,886,163,997 $751,921,333,333
2011 $2,774,350,240 $680,660,800,000
2010 $2,588,176,055 $528,207,466,667
2009 $2,345,294,875 $429,097,866,667
2008 $2,271,646,188 $519,796,800,000
2007 $1,868,383,461 $415,964,509,673
2006 $1,575,200,391 $376,900,133,511
2005 $1,163,362,438 $328,459,608,764
2004 $1,226,829,563 $258,742,133,333
2003 $1,052,121,055 $215,807,733,333
2002 $897,031,250 $189,605,866,667
2001 $870,031,677 $184,137,600,000
2000 $624,337,145 $189,514,933,333
1999 $589,239,754 $161,717,066,667
1998 $540,096,398 $146,775,466,667
1997 $508,223,602 $165,963,684,913
1996 $450,382,328 $158,662,483,311
1995 $398,988,955 $143,343,124,166
1994 $356,014,932 $135,174,899,866
1993 $322,417,837 $132,967,957,276
1992 $284,875,809 $137,087,850,467
1991 $244,396,762 $132,223,230,975
1990 $215,043,970 $117,630,173,565
1989 $189,514,434 $95,344,459,279
1988 $168,514,513 $88,256,074,766
1987 $141,223,029 $85,695,861,148
1986 $141,882,254 $86,961,922,765
1985 $127,190,758 $103,897,846,494
1984 $109,503,546 $119,624,858,116
1983 $57,829,787 $129,171,635,311
1982 $47,911,340 $153,240,313,858
1981 $44,781,457 $184,291,360,139
1980 $42,463,576 $164,539,660,725
1979 $38,523,364 $111,858,444,786
1978 $24,369,109 $80,266,516,687
1977 $20,853,789 $74,188,986,586
1976 $22,399,467 $64,005,665,722
1975 $24,540,878 $46,773,208,643
1974 $39,120,171 $45,412,957,746
1973 $30,862,042 $14,947,435,499
1972 $25,177,138 $9,664,267,087
1971 $21,566,404 $7,184,806,909
1970 $19,328,038 $5,377,333,333
1969 - $4,485,777,644
1968 - $4,187,777,711
1967 - $3,257,022,223
1966 - $2,920,555,557
1965 - $2,647,955,558
1964 - $2,371,808,713
1963 - $2,207,393,172
1962 - $2,130,606,532
1961 - $1,920,811,284
1960 - $1,748,124,064

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

GeoRank.org/economy/maldives/saudi-arabia | CC BY

GDP per capita in Maldives vs Saudi Arabia by year

Maldives
GDP per capita

GDP per capita, PPP
Saudi Arabia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Maldives Saudi Arabia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $13,379 $26,183 $35,122 $71,375
2023 $12,588 $24,786 $36,157 $71,565
2022 $11,786 $22,881 $38,510 $71,968
2021 $10,176 $19,053 $31,921 $62,690
2020 $7,394 $13,425 $24,339 $47,518
2019 $11,740 $23,077 $29,567 $59,560
2018 $11,423 $21,899 $29,360 $59,378
2017 $10,510 $19,768 $23,929 $53,120
2016 $9,948 $18,770 $22,268 $49,937
2015 $9,645 $17,875 $23,256 $53,931
2014 $8,939 $16,723 $27,805 $62,578
2013 $8,236 $15,264 $27,865 $62,203
2012 $7,461 $13,989 $28,733 $65,034
2011 $7,425 $13,726 $27,127 $64,125
2010 $7,174 $12,797 $22,028 $58,829
2009 $6,734 $12,266 $17,718 $54,787
2008 $6,757 $13,779 $22,320 $57,236
2007 $5,758 $12,852 $18,596 $55,030
2006 $5,019 $12,075 $17,564 $54,639
2005 $3,797 $9,704 $15,976 $53,548
2004 $4,070 $10,770 $13,154 $51,225
2003 $3,549 $10,065 $11,487 $48,078
2002 $3,076 $8,823 $10,586 $45,466
2001 $3,034 $8,236 $10,805 $47,381
2000 $2,214 $8,526 $11,715 $48,644
1999 $2,124 $8,162 $10,452 $47,495
1998 $1,980 $7,710 $9,836 $48,867
1997 $1,898 $7,226 $11,545 $48,796
1996 $1,717 $6,687 $11,472 $48,569
1995 $1,555 $6,223 $10,786 $48,052
1994 $1,419 $5,520 $10,602 $48,904
1993 $1,317 $5,138 $10,885 $49,503
1992 $1,194 $4,881 $11,730 $50,355
1991 $1,054 $4,604 $11,847 $49,295
1990 $957 $4,528 $11,055 $46,214
1989 $870 - $9,414 -
1988 $799 - $9,165 -
1987 $692 - $9,386 -
1986 $720 - $10,078 -
1985 $669 - $12,745 -
1984 $594 - $15,541 -
1983 $323 - $17,810 -
1982 $274.8 - $22,454 -
1981 $264.1 - $28,703 -
1980 $257.6 - $27,206 -
1979 $240.2 - $19,612 -
1978 $156.1 - $14,914 -
1977 $137.3 - $14,595 -
1976 $151.8 - $13,313 -
1975 $171.4 - $10,266 -
1974 $281.5 - $10,503 -
1973 $228.7 - $3,640 -
1972 $192.2 - $2,474 -
1971 $169.8 - $1,929 -
1970 $156.9 - $1,509 -
1969 - - $1,313 -
1968 - - $1,276 -
1967 - - $1,032 -
1966 - - $961 -
1965 - - $904 -
1964 - - $840 -
1963 - - $812 -
1962 - - $813 -
1961 - - $760 -
1960 - - $718 -

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

GeoRank.org/economy/maldives/saudi-arabia | CC BY

Maldives' GDP per capita is $13,379, ranking 75/197, compared to $35,122 in Saudi Arabia, ranking 33/197. Adjusted for purchasing power (GDP per capita PPP), Maldives ranks 81st at $26,183, while Saudi Arabia ranks 24th at $71,375.

Economic indicators

Maldives Saudi Arabia
Gross domestic product
$7.06B
2024
$1.24T
2024
GDP rank
159/197
2024
18/197
2024
GDP growth
3.49%
2023-2024
2%
2023-2024
GDP per capita
$13,379
2024
$35,122
2024
GDP per capita rank
75/197
2024
33/197
2024
GDP per capita, PPP
$26,183
2024
$71,375
2024
GDP per capita PPP rank
81/197
2024
24/197
2024
Government debt
$9.41B
2024
$324B
2024
Debt-to-GDP ratio
133.3%
2024
26.2%
2024
Government debt per person
$17,837
2024
$9,185
2024
Government debt per person rank
35/185
2024
58/185
2024
Average annual personal income after taxes
$9,909
2026
$23,076
2026
Market capitalization of domestic companies n/a
$2.73T
2024
Number of millionaires n/a
351,855
2025
Number of billionaires n/a
15
2025
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
29.6%
2024
Consumer prices inflation
1.4%
2023-2024
1.69%
2023-2024
Central bank interest rate n/a
4.25%
2025
Unemployment rate
4.56%
2019
3.52%
2024
Population
532057
36734925

Spending and national debt comparison by year

Maldives
Spending

Debt
Saudi Arabia
Spending

Debt
1x
Year % of GDP
Maldives Saudi Arabia
Government spending Government debt Government spending Government debt
2024 46.1% 133.3% 29.6% 26.2%
2023 46.7% 122.4% 28.3% 23%
2022 42% 111.6% 25.3% 21.3%
2021 40.6% 123.4% 28.2% 25.5%
2020 50.4% 155.7% 37.4% 29.7%
2019 32.9% 77.2% 31.8% 20.3%
2018 31.9% 70.7% 32.4% 16.8%
2017 30.4% 63.8% 30.9% 15.9%
2016 37.3% 61.9% 33.3% 12.2%
2015 33.8% 54.8% 38.5% 5.47%
2014 29.1% 55.1% 38.6% 1.5%
2013 27% 55.9% 34.5% 2.08%
2012 29.8% 57.1% 32.5% 2.97%
2011 31.3% 51.9% 32.4% 5.31%
2010 33.2% 52.7% 33% 8.43%
2009 37% 48.4% 37.1% 14%
2008 35.6% 39% 26.7% 12.1%
2007 34.8% 35.8% 29.5% 17.1%
2006 35% 36.8% 27.3% 25.8%
2005 38.8% 43.2% 28.2% 37.3%
2004 24.1% 34.7% 31.1% 62.9%
2003 26.4% 37.6% 33.1% 81.6%
2002 29.6% 44.3% 35.9% 96.4%
2001 29.6% 41.8% 36.9% 93.1%
2000 29% 39% 33.1% 86.7%
1999 28% 38.9% 30.3% 103%
1998 25.9% 39.3% 34.5% 101.5%
1997 25.2% 38.1% 35.6% 76.7%
1996 27.3% 46.9% 33.3% 75.2%
1995 31.3% 52.2% 32.4% 74.2%
1994 30.7% 54.6% 33.8% 67.9%
1993 34.7% 55.7% 37.7% 58.6%
1992 36.1% 49% 41.2% 47.8%
1991 37.7% 46.7% 34.9% 39.4%
1990 33.3% 42.4% 39.3% -

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/saudi-arabia | CC BY

In 2024, Maldives' government spending was $3.25B, accounting for 46.1% of its GDP, while Saudi Arabia spent $367B, or 29.6% of GDP.

Debt-to-GDP ratio is 133.3% in Maldives and 26.2% in Saudi Arabia, ranking 10/185 and 163/185, respectively.

Government deficit by year

Deficit/surplus
Maldives

Saudi Arabia
1x
Year Deficit/surplus, % of GDP
Maldives Saudi Arabia
2024 -13.9% -2.49%
2023 -13.2% -1.77%
2022 -11.2% 2.24%
2021 -14.2% -1.99%
2020 -23.7% -10.2%
2019 -6.54% -3.96%
2018 -5.17% -5.21%
2017 -3.02% -8.57%
2016 -9.93% -13.2%
2015 -6.52% -14.9%
2014 -2.42% -3.4%
2013 -3.49% 5.47%
2012 -6.91% 11.7%
2011 -8.13% 11.4%
2010 -13.6% 4.39%
2009 -17.9% -5.38%
2008 -9.92% 29.8%
2007 -3.16% 11.8%
2006 -4.52% 20.8%
2005 -7.81% 18%
2004 -2.26% 9.72%
2003 -3.45% 1.2%
2002 -3.97% -5.91%
2001 -3.97% -3.91%
2000 -3.89% 3.18%
1999 -3.03% -5.99%
1998 -2.25% -8.88%
1997 -1.46% -2.51%
1996 -2.01% -3.25%
1995 -5.66% -5.12%
1994 -4.82% -8.31%
1993 -13.9% -9.33%
1992 -12.6% -8.12%
1991 -10.2% -3.28%
1990 -12.8% -

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

GeoRank.org/economy/maldives/saudi-arabia | CC BY

In 2024, Maldives' government deficit, the difference between spending and revenue, was $982M, equivalent to 13.9% of GDP. This compares to Saudi Arabia's deficit of $30.9B, or 2.49% of GDP.

Over the past 34 years, Maldives recorded a fiscal deficit in 34 of those years, while Saudi Arabia ran a deficit in 22 years. On average, Maldives posted an annual deficit equal to 7.61% of GDP, compared to deficit of 0.18% of GDP for Saudi Arabia.

Inflation comparison by year

Inflation
Maldives

Saudi Arabia
1x
Year Consumer prices inflation
Maldives Saudi Arabia
2024 1.4% 1.69%
2023 2.6% 2.33%
2022 2.6% 2.47%
2021 0.2% 3.06%
2020 -1.6% 3.37%
2019 1.3% -1.19%
2018 1.4% 2.47%
2017 2.3% -0.83%
2016 0.8% 2.05%
2015 1.4% 1.22%
2014 2.4% 2.24%
2013 4% 3.51%
2012 10.9% 2.87%
2011 11.3% 5.83%
2010 6.1% 5.34%
2009 4.5% 5.06%
2008 12% 9.87%
2007 6.8% 4.17%
2006 3.5% 2.21%
2005 2.5% 0.48%
2004 6.3% 0.52%
2003 -2.8% 0.61%
2002 0.9% 0.25%
2001 0.7% -1.12%
2000 -1.2% -1.12%
1999 3% -1.33%
1998 -1.4% -0.37%
1997 7.6% 0.06%

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/saudi-arabia | CC BY

Over the past 28 years, Maldives has recorded an average annual inflation rate of 3.2%, compared with 1.99% in Saudi Arabia. In 2024, inflation was 1.4% in Maldives and 1.69% in Saudi Arabia.

Top exports between countries

Maldives
Export category Export value
Machinery & equipment $258K
Wood & paper products $3K
Saudi Arabia
Export category Export value
Raw materials & minerals $59.8M
Metals $1.4M
Chemicals & pharma $868K
Machinery & equipment $790K
Raw agricultural goods $544K
Animal & marine products $415K
Processed food, beverages & tobacco $413K
Textiles & consumer goods $32K
Miscellaneous $17K
Wood & paper products $14K

Balance of trade

Maldives Saudi Arabia
Current account balance
-$1.32B
2024
-$16.3B
2024
Current account balance ranking
130/190
2024
180/190
2024
Current account balance, % of GDP
-18.7%
2024
-1.31%
2024
Goods imports
$3.46B
2024
$214B
2024
Goods exports
$383M
2024
$306B
2024
Service imports
$1.89B
2024
$125B
2024
Service exports
$5.03B
2024
$62.8B
2024
Imports of goods and services, % of GDP
78.3%
2024
25.6%
2024
Exports of goods and services, % of GDP
78.2%
2024
29.1%
2024

Economic freedom indices

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

Maldives Saudi Arabia
Economic freedom 47.6 65.4
Economic freedom ranking 174/197 65/197
Property rights 52.2 51.4
Government integrity 41.9 52.7
Judicial effectiveness 39.3 38.2
Tax burden 89.9 99.2
Government spending 39.5 77
Fiscal health 0 97.9
Business freedom 49.7 71.2
Labor freedom 54.1 41.8
Monetary freedom 76.4 81.2
Trade freedom 62.8 73.8
Investment freedom 35 50
Financial freedom 30 50

Economic freedom comparison by year

Maldives
Saudi Arabia
1x
Year Economic freedom index
Maldives Saudi Arabia
2026 47.6 65.4
2025 48.3 64.4
2024 47.8 61.9
2023 46.6 58.3
2022 47.3 55.5
2021 55.2 66
2020 56.5 62.4
2019 53.2 60.7
2018 51.1 59.6
2017 50.3 64.4
2016 53.9 62.1
2015 53.4 62.1
2014 51 62.2
2013 49 60.6
2012 49.2 62.5
2011 48.3 66.2
2010 49 64.1
2009 51.3 64.3
2008 - 62.5
2007 - 60.9
2006 - 63
2005 - 63
2004 - 60.4
2003 - 63.2
2002 - 65.3
2001 - 62.2
2000 - 66.5
1999 - 65.5
1998 - 69.3
1997 - 68.7
1996 - 68.3

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

GeoRank.org/economy/maldives/saudi-arabia | CC BY

The Economic Freedom Index for Maldives is 47.6, ranking 174/197, compared to 65.4 for Saudi Arabia, ranking 65/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Maldives Saudi Arabia
Services, % of GDP
72.1%
2024
47.1%
2024
Industry, % of GDP
9.2%
2024
44.9%
2024
Agriculture, forestry, and fishing, % of GDP
3.84%
2024
2.54%
2024
GNI, Atlas method
$6.15B
2024
$1.26T
2024
GNI per capita, PPP
$23,400
2024
$71,730
2024
Total reserves including gold
$674M
2024
$464B
2024
Total reserves ranking
150/177
2024
7/177
2024
Net foreign direct investment
-$806M
2024
$6.27B
2024
Net inflows of foreign direct investment
$806M
2024
$21.3B
2024
Net outflows of foreign direct investment
$0
2024
$27.6B
2024
Servicing debt to the IMF, % of GNI
7.95%
2024
n/a
Poverty at national poverty lines
15%
2020
n/a
Gross capital formation, % of GDP
30.8%
2024
30.2%
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/saudi-arabia | CC BY

Compare countries by 7 more topics

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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. 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.