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2023
Product
Exports | Imports $361M | $3.85B176 of 226 |  152 of 226
2023
Per Capita Product
Exports | Imports $685 | $7.32k135 of 220 |  83 of 220

About

Overview In 2023 Maldives was the number 176 economy in the world in terms of total exports and the number 152 in total imports.

Exports The top exports of Maldives are Non-fillet Frozen Fish ($127M), Planes, Helicopters, and/or Spacecraft ($57.8M), Processed Fish ($42.5M), Refined Petroleum ($34.3M), and Fish Fillets ($31.5M), exporting mostly to Thailand ($115M), India ($74.9M), Singapore ($31.4M), United Kingdom ($24.1M), and Germany ($16.9M).

Imports The top imports of Maldives are Refined Petroleum ($730M), Planes, Helicopters, and/or Spacecraft ($79.2M), Granite ($78.9M), Broadcasting Equipment ($62.5M), and Raw Iron Bars ($62.2M), importing mostly from India ($591M), United Arab Emirates ($567M), Oman ($529M), China ($467M), and Singapore ($318M).

Location Maldives borders India, Sri Lanka, and British Indian Ocean Territory by sea.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Maldives.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Non-fillet Frozen Fish$127M
Top Destination (2023)Thailand$115M

In 2023, Maldives exported a total of $361M, making it the number 176 exporter in the world. During the last five reported years the exports of Maldives have changed by $71.8M from $289M in 2018 to $361M in 2023.

The most recent exports are led by Non-fillet Frozen Fish ($127M), Planes, Helicopters, and/or Spacecraft ($57.8M), Processed Fish ($42.5M), Refined Petroleum ($34.3M), and Fish Fillets ($31.5M). The most common destination for the exports of Maldives are Thailand ($115M), India ($74.9M), Singapore ($31.4M), United Kingdom ($24.1M), and Germany ($16.9M).

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Exports (2023)
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Destinations (2023)
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Market Growth

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Growth
Fastest Growing Export Markets (2022 - 2023)
Singapore$30.9M (+ 7.21k%)
Thailand$28.8M (+ 33.2%)
United Kingdom$10.4M (+ 75.3%)
Fastest Growing Import Markets (2022 - 2023)
United Arab Emirates$287M (+ 102%)
Singapore$154M (+ 93.8%)
India$33.5M (+ 6.01%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

Maldives Exports Services (2017)$3.15B
Maldives Imports Services (2017)$1.3B

In 2017, Maldives exported $3.15B worth of services. The top services exported by Maldives in 2017 were Personal travel ($2.74B), Air transport ($273M), Telecommunications services ($98.8M), Sea transport ($17.1M), and Construction in the compiling economy ($9.55M).

The top services imported by Maldives in 2017 were Air transport ($332M), Miscellaneous business, professional, and technical services ($308M), Personal travel ($288M), Construction in the compiling economy ($154M), and Telecommunications services ($74.4M).

Service Exports (2017)

Service Imports (2017)

Economic Complexity

Most Specialized Products by RCA Index

Maldives has a high level of specialization in Non-fillet Frozen Fish (305), Processed Fish (141), Live Fish (68.8), Fish Fillets (66.1), and Non-fillet Fresh Fish (45.3). Specialization is measured using RCA, an index that takes the ratio between Maldives observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Maldives according to the relatedness index, were Crustaceans (0.05), Cocoa Beans (0.04), Fish Oil (0.04), Gold (0.039), and Crude Petroleum (0.038). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Maldives is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Maldives. These are products that tend to be co-exported with the products that Maldives exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

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