Maldives: Goods and services expense (current LCU)

Key figures

What the numbers say

In 2021, Maldives' goods and services expense (current LCU) rose 40.1% on 2020 (from 3.3 billion to 4.63 billion).

Across the 30 yearly changes before that (1986 to 2020), the average change was +13.9% and a typical year strayed about 24.4% from that (the standard deviation). This year's change was 1.1 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 74.6% in 2005 and the biggest yearly fall was 64.8% in 2011. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2014 to 2021 the straight-line trend is upward, about 203.5 million a year. A straight line explains 50% of the movement over 8 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

Closest to Maldives in the 2021 ranking

• Burundi — 5th of 9: 178.07 billion
• Central African Republic — 6th of 9: 51.58 billion
• Peru — 7th of 9: 39.31 billion
• Eswatini — 9th of 9: 2.81 billion

What this measures

Goods and services include all government payments in exchange for goods and services used for the production of market and nonmarket goods and services. Use of goods and services for account capital formation is excluded. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

All 40 values

Goods and services expense (current LCU) in nearby economies

• Bangladesh — 433.94 billion (2021)
• Bhutan — 8.32 billion (2020)
• India — 2.33 trillion (2022)
• Nepal — 50.39 billion (2023)
• Sri Lanka — 299.7 billion (2023)

More public sector data for Maldives

• Grants and other revenue (current LCU) — 5.92 billion (2021)
• Grants and other revenue (% of revenue) — 27.37% (2021)
• Revenue, excluding grants (current LCU) — 20.01 billion (2021)
• Revenue, excluding grants (% of GDP) — 24.78% (2021)
• Taxes on goods and services (current LCU) — 9.14 billion (2021)
• Taxes on goods and services (% of revenue) — 42.27% (2021)
• Customs and other import duties (current LCU) — 2.84 billion (2021)
• Customs and other import duties (% of tax revenue) — 18.06% (2021)
• Taxes on international trade (current LCU) — 3.83 billion (2021)

Reading data like this

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Questions people ask

What is Maldives's goods and services expense (current LCU)?

4.63 billion in 2021, according to the World Bank (World Development Indicators).

How has it changed since 1979?

It is up 39,439% from 11.7 million in 1979 (15.3% a year on average, compounded). The highest value was 4.95 billion in 2007 and the lowest 11.7 million in 1979.

Is the latest change in goods and services expense (current LCU) unusual for Maldives?

In 2021, Maldives' goods and services expense (current LCU) rose 40.1% on 2020 (from 3.3 billion to 4.63 billion). Across the 30 yearly changes before that (1986 to 2020), the average change was +13.9% and a typical year strayed about 24.4% from that (the standard deviation). This year's change was 1.1 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

Where does this data come from?

The World Bank's World Development Indicators, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).

Source

World Bank, World Development Indicators, indicator GC.XPN.GSRV.CN, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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