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Economy of Maldives vs Trinidad and Tobago compared: GDP & Debt

Updated on by Georank team

Maldives has a GDP of $7.06B compared to $25.6B for Trinidad and Tobago, ranking 159/197 and 115/197 by economy size, respectively.

Maldives has $9.41B in government debt (133.3% of GDP), compared to $16.5B (64.2% of GDP) in Trinidad and Tobago.

Maldives vs Trinidad and Tobago GDP by year

Maldives
Trinidad and Tobago
1x
Year GDP, current $
Maldives Trinidad
2024 $7,061,608,267 $25,633,544,529
2023 $6,621,008,704 $25,036,993,423
2022 $6,177,123,352 $28,341,164,301
2021 $5,252,457,370 $24,222,963,263
2020 $3,712,604,583 $20,888,515,184
2019 $5,726,094,799 $23,477,745,792
2018 $5,404,344,163 $23,883,058,083
2017 $4,816,426,257 $23,830,750,901
2016 $4,409,942,624 $23,624,322,193
2015 $4,129,505,319 $26,841,141,793
2014 $3,697,353,039 $29,474,180,005
2013 $3,295,009,238 $28,560,537,057
2012 $2,886,163,997 $27,147,349,937
2011 $2,774,350,240 $25,433,007,437
2010 $2,588,176,055 $22,157,920,592
2009 $2,345,294,875 $19,172,165,226
2008 $2,271,646,188 $27,871,587,350
2007 $1,868,383,461 $21,641,620,050
2006 $1,575,200,391 $18,369,361,094
2005 $1,163,362,438 $15,982,389,018
2004 $1,226,829,563 $13,280,291,990
2003 $1,052,121,055 $11,305,459,802
2002 $897,031,250 $9,008,298,229
2001 $870,031,677 $8,824,849,191
2000 $624,337,145 $8,154,342,116
1999 $589,239,754 $6,808,982,521
1998 $540,096,398 $6,043,686,654
1997 $508,223,602 $5,737,771,523
1996 $450,382,328 $5,759,570,336
1995 $398,988,955 $5,329,217,747
1994 $356,014,932 $4,947,181,646
1993 $322,417,837 $4,669,491,134
1992 $284,875,809 $5,439,552,941
1991 $244,396,762 $5,307,905,882
1990 $215,043,970 $5,068,000,000
1989 $189,514,434 $4,323,058,824
1988 $168,514,513 $4,496,910,569
1987 $141,223,029 $4,797,777,778
1986 $141,882,254 $4,794,444,444
1985 $127,190,758 $7,375,918,367
1984 $109,503,546 $7,757,083,333
1983 $57,829,787 $7,763,750,000
1982 $47,911,340 $8,140,416,667
1981 $44,781,457 $6,992,083,333
1980 $42,463,576 $6,235,833,333
1979 $38,523,364 $4,602,416,625
1978 $24,369,109 $3,562,333,458
1977 $20,853,789 $3,138,666,667
1976 $22,399,467 $2,500,424,955
1975 $24,540,878 $2,442,669,825
1974 $39,120,171 $2,042,001,071
1973 $30,862,042 $1,308,785,431
1972 $25,177,138 $1,083,391,758
1971 $21,566,404 $896,765,215
1970 $19,328,038 $821,850,000
1969 - $779,200,000
1968 - $758,899,950
1967 - $761,981,912
1966 - $723,739,857
1965 - $736,573,159
1964 - $711,897,520
1963 - $678,239,329
1962 - $619,322,810
1961 - $584,964,621
1960 - $535,673,252

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

GeoRank.org/economy/maldives/trinidad-and-tobago | CC BY

GDP per capita in Maldives vs Trinidad and Tobago by year

Maldives
GDP per capita

GDP per capita, PPP
Trinidad and Tobago
GDP per capita

GDP per capita, PPP
1x
Year Current $
Maldives Trinidad
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $13,379 $26,183 $18,733 $36,329
2023 $12,588 $24,786 $18,308 $34,623
2022 $11,786 $22,881 $20,751 $32,979
2021 $10,176 $19,053 $17,713 $30,482
2020 $7,394 $13,425 $15,284 $26,731
2019 $11,740 $23,077 $17,213 $29,316
2018 $11,423 $21,899 $17,571 $28,673
2017 $10,510 $19,768 $17,566 $28,484
2016 $9,948 $18,770 $17,449 $28,232
2015 $9,645 $17,875 $19,887 $29,825
2014 $8,939 $16,723 $21,908 $32,027
2013 $8,236 $15,264 $21,305 $31,746
2012 $7,461 $13,989 $20,332 $31,883
2011 $7,425 $13,726 $19,151 $31,078
2010 $7,174 $12,797 $16,815 $30,778
2009 $6,734 $12,266 $14,634 $29,602
2008 $6,757 $13,779 $21,299 $30,807
2007 $5,758 $12,852 $16,607 $29,355
2006 $5,019 $12,075 $14,153 $27,393
2005 $3,797 $9,704 $12,346 $23,536
2004 $4,070 $10,770 $9,871 $20,674
2003 $3,549 $10,065 $8,445 $18,743
2002 $3,076 $8,823 $6,763 $16,141
2001 $3,034 $8,236 $6,657 $14,797
2000 $2,214 $8,526 $6,179 $13,953
1999 $2,124 $8,162 $5,179 $12,812
1998 $1,980 $7,710 $4,613 $11,735
1997 $1,898 $7,226 $4,394 $10,769
1996 $1,717 $6,687 $4,427 $9,883
1995 $1,555 $6,223 $4,115 $9,099
1994 $1,419 $5,520 $3,840 $8,631
1993 $1,317 $5,138 $3,647 $8,209
1992 $1,194 $4,881 $4,277 $8,129
1991 $1,054 $4,604 $4,205 $7,274
1990 $957 $4,528 $4,047 $6,878
1989 $870 - $3,482 -
1988 $799 - $3,656 -
1987 $692 - $3,941 -
1986 $720 - $3,985 -
1985 $669 - $6,212 -
1984 $594 - $6,613 -
1983 $323 - $6,690 -
1982 $274.8 - $7,091 -
1981 $264.1 - $6,160 -
1980 $257.6 - $5,559 -
1979 $240.2 - $4,155 -
1978 $156.1 - $3,258 -
1977 $137.3 - $2,907 -
1976 $151.8 - $2,345 -
1975 $171.4 - $2,319 -
1974 $281.5 - $1,962 -
1973 $228.7 - $1,273 -
1972 $192.2 - $1,067 -
1971 $169.8 - $894 -
1970 $156.9 - $829 -
1969 - - $795 -
1968 - - $783 -
1967 - - $797 -
1966 - - $768 -
1965 - - $793 -
1964 - - $780 -
1963 - - $756 -
1962 - - $704 -
1961 - - $678 -
1960 - - $634 -

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

GeoRank.org/economy/maldives/trinidad-and-tobago | CC BY

Maldives' GDP per capita is $13,379, ranking 75/197, compared to $18,733 in Trinidad and Tobago, ranking 61/197. Adjusted for purchasing power (GDP per capita PPP), Maldives ranks 81st at $26,183, while Trinidad and Tobago ranks 62nd at $36,329.

Economic indicators

Maldives Trinidad
Gross domestic product
$7.06B
2024
$25.6B
2024
GDP rank
159/197
2024
115/197
2024
GDP growth
3.49%
2023-2024
2.51%
2023-2024
GDP per capita
$13,379
2024
$18,733
2024
GDP per capita rank
75/197
2024
61/197
2024
GDP per capita, PPP
$26,183
2024
$36,329
2024
GDP per capita PPP rank
81/197
2024
62/197
2024
Government debt
$9.41B
2024
$16.5B
2024
Debt-to-GDP ratio
133.3%
2024
64.2%
2024
Government debt per person
$17,837
2024
$12,028
2024
Government debt per person rank
35/185
2024
45/185
2024
Average annual personal income after taxes
$9,909
2026
$11,007
2026
Market capitalization of domestic companies n/a
$3.89B
2001
Income share by richest 10%
23.3%
2019
29.9%
1992
Income share by poorest 10%
3.8%
2019
2.1%
1992
Government expenditure, % of GDP
46.1%
2024
32.3%
2024
Consumer prices inflation
1.4%
2023-2024
0.53%
2023-2024
Central bank interest rate n/a
3.5%
2020
Unemployment rate
4.56%
2019
4.01%
2024
Population
532057
1374840

Spending and national debt comparison by year

Maldives
Spending

Debt
Trinidad and Tobago
Spending

Debt
1x
Year % of GDP
Maldives Trinidad
Government spending Government debt Government spending Government debt
2024 46.1% 133.3% 32.3% 64.2%
2023 46.7% 122.4% 33.5% 62.2%
2022 42% 111.6% 27.2% 51.3%
2021 40.6% 123.4% 30.3% 58.4%
2020 50.4% 155.7% 36.2% 62.5%
2019 32.9% 77.2% 31.2% 46.2%
2018 31.9% 70.7% 30.2% 41.5%
2017 30.4% 63.8% 30.7% 39.8%
2016 37.3% 61.9% 31.9% 35.4%
2015 33.8% 54.8% 35% 27.1%
2014 29.1% 55.1% 32.8% 23.5%
2013 27% 55.9% 31.3% 21.6%
2012 29.8% 57.1% 29.5% 21.8%
2011 31.3% 51.9% 29.4% 26.4%
2010 33.2% 52.7% 30.4% 16.8%
2009 37% 48.4% 37% 20.7%
2008 35.6% 39% 26.7% 13.5%
2007 34.8% 35.8% 25.7% 16.2%
2006 35% 36.8% 31.6% 16.9%
2005 38.8% 43.2% 26.7% 19.8%
2004 24.1% 34.7% 22.5% 24.2%
2003 26.4% 37.6% 22.2% 30.2%
2002 29.6% 44.3% 24.4% 37%
2001 29.6% 41.8% 24.8% 36.6%
2000 29% 39% 23.1% 38.9%
1999 28% 38.9% 24.1% 42.2%
1998 25.9% 39.3% 26.9% 42.8%
1997 25.2% 38.1% 27.2% 46.1%
1996 27.3% 46.9% 27.6% 47%
1995 31.3% 52.2% 26.2% 50.1%
1994 30.7% 54.6% 25.4% 52.6%
1993 34.7% 55.7% 26.9% 58.8%
1992 36.1% 49% 28.6% 49.2%
1991 37.7% 46.7% 29.6% 49.5%
1990 33.3% 42.4% 26.9% 47.7%
1989 - - 30.9% 51.9%
1988 - - 45.3% 65.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1988–1996, retrieved 2026-02-20).

GeoRank.org/economy/maldives/trinidad-and-tobago | CC BY

In 2024, Maldives' government spending was $3.25B, accounting for 46.1% of its GDP, while Trinidad and Tobago spent $8.28B, or 32.3% of GDP.

Debt-to-GDP ratio is 133.3% in Maldives and 64.2% in Trinidad and Tobago, ranking 10/185 and 70/185, respectively.

Government deficit by year

Deficit/surplus
Maldives

Trinidad and Tobago
1x
Year Deficit/surplus, % of GDP
Maldives Trinidad
2024 -13.9% -5.24%
2023 -13.2% -1.24%
2022 -11.2% 0.92%
2021 -14.2% -8.1%
2020 -23.7% -12.2%
2019 -6.54% -3.74%
2018 -5.17% -5.89%
2017 -3.02% -10.4%
2016 -9.93% -10.1%
2015 -6.52% -7.56%
2014 -2.42% -4.31%
2013 -3.49% -2.67%
2012 -6.91% -1.26%
2011 -8.13% -0.67%
2010 -13.6% 0.13%
2009 -17.9% -5.42%
2008 -9.92% 5.39%
2007 -3.16% 3.12%
2006 -4.52% 1.56%
2005 -7.81% 2.36%
2004 -2.26% 1.84%
2003 -3.45% 1.8%
2002 -3.97% -0.2%
2001 -3.97% 0.61%
2000 -3.89% 0.17%
1999 -3.03% -0.88%
1998 -2.25% -1.8%
1997 -1.46% 0.11%
1996 -2.01% -0.45%
1995 -5.66% 0.17%
1994 -4.82% -0.02%
1993 -13.9% 0.23%
1992 -12.6% -2.74%
1991 -10.2% -0.21%
1990 -12.8% -1.27%
1989 - -4.46%
1988 - -9.34%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1988–1989, retrieved 2026-02-20).

GeoRank.org/economy/maldives/trinidad-and-tobago | CC BY

In 2024, Maldives' government deficit, the difference between spending and revenue, was $982M, equivalent to 13.9% of GDP. This compares to Trinidad and Tobago's deficit of $1.34B, or 5.24% of GDP.

Over the past 35 years, Maldives recorded a fiscal deficit in 35 of those years, while Trinidad and Tobago ran a deficit in 22 years. On average, Maldives posted an annual deficit equal to 7.75% of GDP, compared to deficit of 1.94% of GDP for Trinidad and Tobago.

Inflation comparison by year

Inflation
Maldives

Trinidad and Tobago
1x
Year Consumer prices inflation
Maldives Trinidad
2024 1.4% 0.53%
2023 2.6% 4.63%
2022 2.6% 5.83%
2021 0.2% 2.06%
2020 -1.6% 0.6%
2019 1.3% 1%
2018 1.4% 1.02%
2017 2.3% 1.88%
2016 0.8% 3.07%
2015 1.4% 4.66%
2014 2.4% 5.68%
2013 4% 5.2%
2012 10.9% 9.26%
2011 11.3% 5.11%
2010 6.1% 10.5%
2009 4.5% 6.98%
2008 12% 12%
2007 6.8% 7.89%
2006 3.5% 8.33%
2005 2.5% 6.87%
2004 6.3% 3.72%
2003 -2.8% 3.81%
2002 0.9% 4.15%
2001 0.7% 5.54%
2000 -1.2% 3.56%
1999 3% 3.44%
1998 -1.4% 5.61%
1997 7.6% 3.63%

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/trinidad-and-tobago | CC BY

Over the past 28 years, Maldives has recorded an average annual inflation rate of 3.2%, compared with 4.88% in Trinidad and Tobago. In 2024, inflation was 1.4% in Maldives and 0.53% in Trinidad and Tobago.

Balance of trade

Maldives Trinidad
Current account balance
-$1.32B
2024
$645M
2024
Current account balance ranking
130/190
2024
58/190
2024
Current account balance, % of GDP
-18.7%
2024
+2.52%
2024
Goods imports
$3.46B
2024
$7.54B
2024
Goods exports
$383M
2024
$10B
2024
Service imports
$1.89B
2024
$2.71B
2024
Service exports
$5.03B
2024
$1.26B
2024
Imports of goods and services, % of GDP
78.3%
2024
n/a
Exports of goods and services, % of GDP
78.2%
2024
45%
2025

Economic freedom indices

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

Maldives Trinidad
Economic freedom 47.6 62.4
Economic freedom ranking 174/197 87/197
Property rights 52.2 47.3
Government integrity 41.9 45.5
Judicial effectiveness 39.3 58.8
Tax burden 89.9 76.1
Government spending 39.5 71.1
Fiscal health 0 86.3
Business freedom 49.7 67.1
Labor freedom 54.1 57.2
Monetary freedom 76.4 81
Trade freedom 62.8 68.8
Investment freedom 35 50
Financial freedom 30 40

Economic freedom comparison by year

Maldives
Trinidad and Tobago
1x
Year Economic freedom index
Maldives Trinidad
2026 47.6 62.4
2025 48.3 63.6
2024 47.8 60.4
2023 46.6 59.5
2022 47.3 58.8
2021 55.2 59
2020 56.5 58.3
2019 53.2 57
2018 51.1 57.7
2017 50.3 61.2
2016 53.9 62.9
2015 53.4 64.1
2014 51 62.7
2013 49 62.3
2012 49.2 64.4
2011 48.3 66.5
2010 49 65.7
2009 51.3 68
2008 - 69.5
2007 - 70.6
2006 - 70.4
2005 - 71.5
2004 - 71.3
2003 - 68.8
2002 - 70.1
2001 - 71.8
2000 - 74.5
1999 - 72.4
1998 - 72
1997 - 71.3
1996 - 69.2

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

GeoRank.org/economy/maldives/trinidad-and-tobago | CC BY

The Economic Freedom Index for Maldives is 47.6, ranking 174/197, compared to 62.4 for Trinidad and Tobago, ranking 87/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Maldives Trinidad
Services, % of GDP
72.1%
2024
59.2%
2024
Industry, % of GDP
9.2%
2024
34.6%
2024
Agriculture, forestry, and fishing, % of GDP
3.84%
2024
0.78%
2024
GNI, Atlas method
$6.15B
2024
$27B
2024
GNI per capita, PPP
$23,400
2024
$36,580
2024
Total reserves including gold
$674M
2024
$5.6B
2024
Total reserves ranking
150/177
2024
94/177
2024
Net foreign direct investment
-$806M
2024
$980M
2024
Net inflows of foreign direct investment
$806M
2024
-$453M
2024
Net outflows of foreign direct investment
$0
2024
$527M
2024
Servicing debt to the IMF, % of GNI
7.95%
2024
n/a
Poverty at national poverty lines
15%
2020
20%
2020
Gross capital formation, % of GDP
30.8%
2024
19%
2023

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/trinidad-and-tobago | 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 (1996–2026, 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 (1988–1996, retrieved 2026-02-20)
  6. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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.