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Economy of Maldives vs Sierra Leone compared: GDP & Debt

Updated on by Georank team

Maldives has a GDP of $7.06B compared to $6.97B for Sierra Leone, ranking 159/197 and 160/197 by economy size, respectively.

Maldives has $9.41B in government debt (133.3% of GDP), compared to $2.91B (41.7% of GDP) in Sierra Leone.

Maldives vs Sierra Leone GDP by year

Maldives
Sierra Leone
1x
Year GDP, current $
Maldives Sierra Leone
2024 $7,061,608,267 $6,971,127,235
2023 $6,621,008,704 $6,415,852,767
2022 $6,177,123,352 $7,121,125,278
2021 $5,252,457,370 $7,166,931,485
2020 $3,712,604,583 $6,688,307,703
2019 $5,726,094,799 $6,523,577,594
2018 $5,404,344,163 $6,390,514,689
2017 $4,816,426,257 $5,749,846,528
2016 $4,409,942,624 $6,084,297,211
2015 $4,129,505,319 $6,788,352,975
2014 $3,697,353,039 $7,686,138,791
2013 $3,295,009,238 $7,502,762,863
2012 $2,886,163,997 $6,141,666,509
2011 $2,774,350,240 $4,861,632,885
2010 $2,588,176,055 $4,262,805,967
2009 $2,345,294,875 $3,953,403,098
2008 $2,271,646,188 $4,157,895,298
2007 $1,868,383,461 $3,632,957,611
2006 $1,575,200,391 $3,263,697,467
2005 $1,163,362,438 $2,545,275,313
2004 $1,226,829,563 $2,237,350,687
2003 $1,052,121,055 $2,142,618,046
2002 $897,031,250 $1,933,863,911
2001 $870,031,677 $1,681,473,894
2000 $624,337,145 $635,866,404
1999 $589,239,754 $669,386,624
1998 $540,096,398 $672,368,187
1997 $508,223,602 $850,232,760
1996 $450,382,328 $941,709,423
1995 $398,988,955 $870,740,292
1994 $356,014,932 $911,853,802
1993 $322,417,837 $768,867,883
1992 $284,875,809 $679,940,814
1991 $244,396,762 $779,981,987
1990 $215,043,970 $649,644,098
1989 $189,514,434 $932,974,420
1988 $168,514,513 $1,055,083,933
1987 $141,223,029 $660,106,336
1986 $141,882,254 $490,181,457
1985 $127,190,758 $856,890,459
1984 $109,503,546 $1,087,471,862
1983 $57,829,787 $995,104,305
1982 $47,911,340 $1,295,361,886
1981 $44,781,457 $1,114,830,472
1980 $42,463,576 $1,100,685,845
1979 $38,523,364 $1,109,374,911
1978 $24,369,109 $960,728,339
1977 $20,853,789 $691,777,584
1976 $22,399,467 $594,895,942
1975 $24,540,878 $679,336,344
1974 $39,120,171 $648,590,643
1973 $30,862,042 $575,230,724
1972 $25,177,138 $465,381,340
1971 $21,566,404 $419,549,305
1970 $19,328,038 $434,410,974
1969 - $408,690,163
1968 - $329,859,732
1967 - $348,795,303
1966 - $375,479,850
1965 - $359,379,856
1964 - $371,847,461
1963 - $348,547,279
1962 - $342,721,416
1961 - $327,834,191
1960 - $322,009,962

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

GeoRank.org/economy/maldives/sierra-leone | CC BY

GDP per capita in Maldives vs Sierra Leone by year

Maldives
GDP per capita

GDP per capita, PPP
Sierra Leone
GDP per capita

GDP per capita, PPP
1x
Year Current $
Maldives Sierra Leone
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $13,379 $26,183 $807 $3,522
2023 $12,588 $24,786 $758 $3,368
2022 $11,786 $22,881 $860 $3,144
2021 $10,176 $19,053 $885 $2,849
2020 $7,394 $13,425 $845 $2,719
2019 $11,740 $23,077 $844 $2,704
2018 $11,423 $21,899 $846 $2,640
2017 $10,510 $19,768 $779 $2,501
2016 $9,948 $18,770 $844 $2,635
2015 $9,645 $17,875 $965 $2,560
2014 $8,939 $16,723 $1,118 $2,762
2013 $8,236 $15,264 $1,117 $2,701
2012 $7,461 $13,989 $938 $2,317
2011 $7,425 $13,726 $761 $2,043
2010 $7,174 $12,797 $685 $1,900
2009 $6,734 $12,266 $653 $1,814
2008 $6,757 $13,779 $705 $1,824
2007 $5,758 $12,852 $632 $1,770
2006 $5,019 $12,075 $580 $1,698
2005 $3,797 $9,704 $463 $1,615
2004 $4,070 $10,770 $418 $1,541
2003 $3,549 $10,065 $414 $1,458
2002 $3,076 $8,823 $389 $1,360
2001 $3,034 $8,236 $358 $1,121
2000 $2,214 $8,526 $143.7 $1,242
1999 $2,124 $8,162 $155 $1,167
1998 $1,980 $7,710 $156.5 $1,180
1997 $1,898 $7,226 $199.9 $1,157
1996 $1,717 $6,687 $224.3 $1,225
1995 $1,555 $6,223 $208.4 $1,187
1994 $1,419 $5,520 $218.5 $1,266
1993 $1,317 $5,138 $185 $1,269
1992 $1,194 $4,881 $163.2 $1,220
1991 $1,054 $4,604 $183.7 $1,445
1990 $957 $4,528 $154.8 $1,382
1989 $870 - $231.3 -
1988 $799 - $268.2 -
1987 $692 - $172.4 -
1986 $720 - $131.5 -
1985 $669 - $235.5 -
1984 $594 - $306 -
1983 $323 - $285.8 -
1982 $274.8 - $380 -
1981 $264.1 - $334 -
1980 $257.6 - $336 -
1979 $240.2 - $346 -
1978 $156.1 - $305 -
1977 $137.3 - $224.2 -
1976 $151.8 - $196.4 -
1975 $171.4 - $228.4 -
1974 $281.5 - $222.1 -
1973 $228.7 - $200.6 -
1972 $192.2 - $165.4 -
1971 $169.8 - $151.8 -
1970 $156.9 - $160.2 -
1969 - - $153.6 -
1968 - - $126.3 -
1967 - - $136.1 -
1966 - - $149.3 -
1965 - - $145.6 -
1964 - - $153.4 -
1963 - - $146.3 -
1962 - - $146.3 -
1961 - - $142.3 -
1960 - - $142 -

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

GeoRank.org/economy/maldives/sierra-leone | CC BY

Maldives' GDP per capita is $13,379, ranking 75/197, compared to $807 in Sierra Leone, ranking 186/197. Adjusted for purchasing power (GDP per capita PPP), Maldives ranks 81st at $26,183, while Sierra Leone ranks 171st at $3,522.

Economic indicators

Maldives Sierra Leone
Gross domestic product
$7.06B
2024
$6.97B
2024
GDP rank
159/197
2024
160/197
2024
GDP growth
3.49%
2023-2024
4.29%
2023-2024
GDP per capita
$13,379
2024
$807
2024
GDP per capita rank
75/197
2024
186/197
2024
GDP per capita, PPP
$26,183
2024
$3,522
2024
GDP per capita PPP rank
81/197
2024
171/197
2024
Government debt
$9.41B
2024
$2.91B
2024
Debt-to-GDP ratio
133.3%
2024
41.7%
2024
Government debt per person
$17,837
2024
$337
2024
Government debt per person rank
35/185
2024
174/185
2024
Average annual personal income after taxes
$9,909
2026
$2,915
2026
Income share by richest 10%
23.3%
2019
29.4%
2018
Income share by poorest 10%
3.8%
2019
3.4%
2018
Government expenditure, % of GDP
46.1%
2024
15.6%
2024
Consumer prices inflation
1.4%
2023-2024
28.4%
2023-2024
Central bank interest rate n/a
18.8%
2025
Unemployment rate
4.56%
2019
3.19%
2018
Population
532057
9049533

Spending and national debt comparison by year

Maldives
Spending

Debt
Sierra Leone
Spending

Debt
1x
Year % of GDP
Maldives Sierra Leone
Government spending Government debt Government spending Government debt
2024 46.1% 133.3% 15.6% 41.7%
2023 46.7% 122.4% 15.4% 49.5%
2022 42% 111.6% 16.7% 54%
2021 40.6% 123.4% 16.8% 47.1%
2020 50.4% 155.7% 15.6% 46.4%
2019 32.9% 77.2% 13.3% 45.3%
2018 31.9% 70.7% 13.7% 44.2%
2017 30.4% 63.8% 15% 44.2%
2016 37.3% 61.9% 14.9% 38.9%
2015 33.8% 54.8% 13.1% 28.4%
2014 29.1% 55.1% 13.5% 26.8%
2013 27% 55.9% 11.4% 22.3%
2012 29.8% 57.1% 13.5% 24.1%
2011 31.3% 51.9% 13.2% 25.8%
2010 33.2% 52.7% 12.5% 28.9%
2009 37% 48.4% 11.3% 31.1%
2008 35.6% 39% 10.3% 46.1%
2007 34.8% 35.8% 8.1% 26.4%
2006 35% 36.8% 9.97% 61.9%
2005 38.8% 43.2% 10.9% 78.9%
2004 24.1% 34.7% 11.1% 93.2%
2003 26.4% 37.6% 11.7% 99.8%
2002 29.6% 44.3% 12.6% 99.8%
2001 29.6% 41.8% 12% 113.5%
2000 29% 39% 10.3% -
1999 28% 38.9% - -
1998 25.9% 39.3% - -
1997 25.2% 38.1% - -
1996 27.3% 46.9% - -
1995 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/maldives/sierra-leone | CC BY

In 2024, Maldives' government spending was $3.25B, accounting for 46.1% of its GDP, while Sierra Leone spent $1.09B, or 15.6% of GDP.

Debt-to-GDP ratio is 133.3% in Maldives and 41.7% in Sierra Leone, ranking 10/185 and 128/185, respectively.

Government deficit by year

Deficit/surplus
Maldives

Sierra Leone
1x
Year Deficit/surplus, % of GDP
Maldives Sierra Leone
2024 -13.9% -4.53%
2023 -13.2% -4.99%
2022 -11.2% -5.93%
2021 -14.2% -4.35%
2020 -23.7% -3.5%
2019 -6.54% -1.95%
2018 -5.17% -3.57%
2017 -3.02% -5.61%
2016 -9.93% -5.41%
2015 -6.52% -2.86%
2014 -2.42% -2.77%
2013 -3.49% -1.74%
2012 -6.91% -3.41%
2011 -8.13% -2.78%
2010 -13.6% -3.09%
2009 -17.9% -1.51%
2008 -9.92% -2.22%
2007 -3.16% 12.6%
2006 -4.52% -0.93%
2005 -7.81% -1.17%
2004 -2.26% -1.46%
2003 -3.45% -2.78%
2002 -3.97% -3.03%
2001 -3.97% -3.22%
2000 -3.89% -1.94%
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/sierra-leone | CC BY

In 2024, Maldives' government deficit, the difference between spending and revenue, was $982M, equivalent to 13.9% of GDP. This compares to Sierra Leone's deficit of $316M, or 4.53% of GDP.

Over the past 25 years, Maldives recorded a fiscal deficit in 25 of those years, while Sierra Leone ran a deficit in 24 years. On average, Maldives posted an annual deficit equal to 8.11% of GDP, compared to deficit of 2.49% of GDP for Sierra Leone.

Inflation comparison by year

Inflation
Maldives

Sierra Leone
1x
Year Consumer prices inflation
Maldives Sierra Leone
2024 1.4% 28.4%
2023 2.6% 47.7%
2022 2.6% 27.2%
2021 0.2% 11.9%
2020 -1.6% 13.4%
2019 1.3% 14.8%
2018 1.4% 16%
2017 2.3% 18.2%
2016 0.8% 10.9%
2015 1.4% 6.7%
2014 2.4% 4.6%
2013 4% 5.5%
2012 10.9% 6.6%
2011 11.3% 6.8%
2010 6.1% 7.2%
2009 4.5% 7.5%
2008 12% 8.2%
2007 6.8% 17%
2006 3.5% 10.5%
2005 2.5% 13.7%
2004 6.3% 12.9%
2003 -2.8% 4%
2002 0.9% 0.1%
2001 0.7% 2.6%
2000 -1.2% -0.9%
1999 3% 34.1%
1998 -1.4% 36%
1997 7.6% 14.6%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

GeoRank.org/economy/maldives/sierra-leone | CC BY

Over the past 28 years, Maldives has recorded an average annual inflation rate of 3.2%, compared with 13.8% in Sierra Leone. In 2024, inflation was 1.4% in Maldives and 28.4% in Sierra Leone.

Balance of trade

Maldives Sierra Leone
Current account balance
-$1.32B
2024
-$606M
2023
Current account balance ranking
130/190
2024
109/190
2023
Current account balance, % of GDP
-18.7%
2024
-9.45%
2023
Goods imports
$3.46B
2024
$1.92B
2023
Goods exports
$383M
2024
$1.34B
2023
Service imports
$1.89B
2024
$348M
2023
Service exports
$5.03B
2024
$42.5M
2023
Imports of goods and services, % of GDP
78.3%
2024
23.3%
2024
Exports of goods and services, % of GDP
78.2%
2024
17.3%
2024

Economic freedom indices

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

Maldives Sierra Leone
Economic freedom 47.6 49.6
Economic freedom ranking 174/197 165/197
Property rights 52.2 32.9
Government integrity 41.9 35.8
Judicial effectiveness 39.3 42
Tax burden 89.9 88.2
Government spending 39.5 92.4
Fiscal health 0 54.1
Business freedom 49.7 44.8
Labor freedom 54.1 38.2
Monetary freedom 76.4 53.6
Trade freedom 62.8 63.6
Investment freedom 35 30
Financial freedom 30 20

Economic freedom comparison by year

Maldives
Sierra Leone
1x
Year Economic freedom index
Maldives Sierra Leone
2026 47.6 49.6
2025 48.3 48
2024 47.8 44.6
2023 46.6 50.2
2022 47.3 52
2021 55.2 51.7
2020 56.5 48
2019 53.2 47.5
2018 51.1 51.8
2017 50.3 52.6
2016 53.9 52.3
2015 53.4 51.7
2014 51 50.5
2013 49 48.3
2012 49.2 49.1
2011 48.3 49.6
2010 49 47.9
2009 51.3 47.8
2008 - 48.3
2007 - 47
2006 - 45.2
2005 - 44.8
2004 - 43.6
2003 - 42.2
2002 - -
2001 - -
2000 - 44.2
1999 - 47.2
1998 - 47.7
1997 - 45
1996 - 52.3
1995 - 49.8

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

GeoRank.org/economy/maldives/sierra-leone | CC BY

The Economic Freedom Index for Maldives is 47.6, ranking 174/197, compared to 49.6 for Sierra Leone, ranking 165/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Maldives Sierra Leone
Services, % of GDP
72.1%
2024
42.6%
2024
Industry, % of GDP
9.2%
2024
25.6%
2024
Agriculture, forestry, and fishing, % of GDP
3.84%
2024
29.2%
2024
GNI, Atlas method
$6.15B
2024
$7.08B
2024
GNI per capita, PPP
$23,400
2024
$3,490
2024
Total reserves including gold
$674M
2024
$433M
2024
Total reserves ranking
150/177
2024
160/177
2024
Net foreign direct investment
-$806M
2024
-$241M
2023
Net inflows of foreign direct investment
$806M
2024
$122M
2024
Net outflows of foreign direct investment
$0
2024
$0
2024
Servicing debt to the IMF, % of GNI
7.95%
2024
2.22%
2024
Poverty at national poverty lines
15%
2020
56.8%
2018
Gross capital formation, % of GDP
30.8%
2024
20.5%
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/sierra-leone | 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. 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.