Maldives: Net incurrence of liabilities, total (current LCU)

Key figures

What the numbers say

In 2021, Maldives' net incurrence of liabilities, total (current LCU) fell 12.7% on 2020 (from 13.8 billion to 12.04 billion).

Across the 27 yearly changes before that (1991 to 2020), the average change was +45.1% and a typical year strayed about 105.4% from that (the standard deviation). This year's change was 0.5 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 435.4% in 2005 and the biggest yearly fall was 54.2% in 1996. 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 1.51 billion a year. A straight line explains 76% 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

• Congo, Rep. — 5th of 9: 119.5 billion
• Peru — 6th of 9: 52.7 billion
• Central African Republic — 7th of 9: 50.67 billion
• Eswatini — 9th of 9: 2.83 billion

What this measures

Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. 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 30 values

Net incurrence of liabilities, total (current LCU) in nearby economies

• Bangladesh — 1.51 trillion (2021)
• Bhutan — 11.71 billion (2020)
• India — 17.63 trillion (2022)
• Nepal — 303.12 billion (2021)
• Sri Lanka — 2.77 trillion (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)

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Questions people ask

What is Maldives's net incurrence of liabilities, total (current LCU)?

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

How has it changed since 1990?

It is up 7,358% from 161.4 million in 1990 (14.92% a year on average, compounded). The highest value was 13.8 billion in 2020 and the lowest 77 million in 1997.

Is the latest change in net incurrence of liabilities, total (current LCU) unusual for Maldives?

In 2021, Maldives' net incurrence of liabilities, total (current LCU) fell 12.7% on 2020 (from 13.8 billion to 12.04 billion). Across the 27 yearly changes before that (1991 to 2020), the average change was +45.1% and a typical year strayed about 105.4% from that (the standard deviation). This year's change was 0.5 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Where does this data come from?

Source

World Bank, World Development Indicators, indicator GC.LBL.TOTL.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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