Country intelligence · MDV · 2024

Maldives trade profile

In 2024, Maldives recorded $262.5M in merchandise exports and $4.0B in imports, producing a $3.8B trade deficit. Exports changed -20.5% from the previous year, while imports changed -4.5%.^[1]

Exports

$262.5M

-20.5%

Imports

$4.0B

-4.5%

Trade balance

-$3.8B

deficit

Active partners

270

7 FTA-linked

Historical evidence

Ten-year trade movement

The bars compare exports and imports on the same scale. The accompanying table preserves the exact values so the trend is usable without interpreting a graphic.

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

ExportsImports

Exact annual values

Year	Exports	Imports	Balance	Export growth
2024	$262.5M	$4.0B	-$3.8B	-20.5%
2023	$330.0M	$4.2B	-$3.9B	-55.2%
2022	$737.1M	$4.5B	-$3.8B	+206.0%
2021	$240.8M	$2.8B	-$2.6B	+16.8%
2020	$206.1M	$1.8B	-$1.6B	-12.2%
2019	$234.7M	$2.7B	-$2.4B	-36.6%
2018	$370.2M	$3.1B	-$2.7B	-6.9%
2017	$397.6M	$2.5B	-$2.1B	+62.6%
2016	$244.6M	$2.3B	-$2.1B	+18.3%
2015	$206.8M	$2.1B	-$1.9B	+11.6%

Leading export sectors

HS2 chapters rank broad product groups by observed export value in 2024.

HS 88 · HS chapter

12 active HS6 lines · 11 export partners

$77.9M

HS 03 · HS chapter

167 active HS6 lines · 49 export partners

$74.2M

HS 27 · Mineral fuels and oils

28 active HS6 lines · 8 export partners

$38.1M

HS 16 · HS chapter

41 active HS6 lines · 27 export partners

$34.4M

HS 15 · HS chapter

38 active HS6 lines · 6 export partners

$12.9M

HS 72 · HS chapter

133 active HS6 lines · 7 export partners

$5.4M

HS 23 · HS chapter

10 active HS6 lines · 6 export partners

$3.8M

HS 84 · Machinery

459 active HS6 lines · 47 export partners

$3.1M

Leading export markets

Destinations rank bilateral export flows from Maldives; growth describes each corridor rather than the whole economy.

India

Annual change +27.5% · 3-year CAGR 23.9%

$87.9M

Thailand

Annual change -60.0% · 3-year CAGR -17.5%

$39.0M

United Kingdom

Annual change -14.6% · 3-year CAGR 24.8%

$20.5M

Singapore

Annual change -55.5% · 3-year CAGR 196.0%

$15.4M

Mauritius

Annual change +56.3% · 3-year CAGR 50.3%

$14.4M

Germany

Annual change -14.8% · 3-year CAGR -13.6%

$13.6M

Iran

Annual change +3.9% · 3-year CAGR 889.5%

$12.7M

Oman

Annual change +236.8% · 3-year CAGR 51.2%

$10.0M

Sources, definitions and limitations

[1] Primary trade source

OECD Bilateral International Merchandise Trade Statistics, harmonised by Yugalinks at country-year, HS2 and bilateral-corridor levels. Coverage shown here is 1995–2024 where observations are available.

Calculation notes

USD values are aggregated from reported merchandise records. YoY compares consecutive annual totals; three-year CAGR is the mart-provided compound annual growth rate. Missing values are not inferred.

Data sources Methodology Open country workspace