Maldives: New businesses registered (number)

Key figures

What the numbers say

In 2023, Maldives' new businesses registered (number) rose 18.5% on 2022 (from 1,627 to 1,928).

Across the 16 yearly changes before that (2007 to 2022), the average change was +4.9% and a typical year strayed about 16.8% from that (the standard deviation). This year's change was 0.8 standard deviations above 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 47.6% in 2014 and the biggest yearly fall was 16.8% in 2009. 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 2023 the straight-line trend is upward, about 69.04 a year. A straight line explains 61% of the movement over 10 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 2023 ranking

• Chile — 2nd of 5: 123,159
• Belgium — 3rd of 5: 39,772
• Austria — 4th of 5: 5,982

What this measures

New businesses registered are the number of new limited liability corporations (or its equivalent) registered in the calendar year.

Limitations: The definition of entrepreneurship used is limited to the formal sector. Yet, it should be noted that the exclusion of the informal sector is based on the difficulties of quantifying the number of firms that compose it, rather than on its relevance for developing economies. Data collected from economies categorized as offshore financial centers by Eurostat are excluded from the analysis, because registered entities in these countries may not fit the objective of the Entrepreneurship Database aiming at measuring formally registered companies with actual economic activities.

All 18 values

New businesses registered (number) in nearby economies

• Bangladesh — 7,365 (2024)
• Bhutan — 40 (2022)
• India — 173,712 (2024)
• Nepal — 25,859 (2020)
• Sri Lanka — 17,447 (2022)

More private sector & trade data for Maldives

• Merchandise imports (current US$) — US$3.62 billion (2025)
• Merchandise exports (current US$) — US$444 million (2025)
• Merchandise trade (% of GDP) — 52.49% (2025)
• Insurance and financial services (% of commercial service imports) — 6.49% (2025)
• Computer, communications and other services (% of commercial service imports) — 36.01% (2025)
• Commercial service imports (current US$) — US$1.88 billion (2025)
• Transport services (% of commercial service imports) — 29.59% (2025)
• Computer, communications and other services (% of commercial service exports) — 1.08% (2025)
• Commercial service exports (current US$)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Maldives's new businesses registered (number)?

1,928 in 2023, according to the World Bank (World Development Indicators).

How has it changed since 2006?

It is up 111.87% from 910 in 2006 (4.52% a year on average, compounded). The highest value was 1,928 in 2023 and the lowest 720 in 2013.

Is the latest change in new businesses registered (number) unusual for Maldives?

In 2023, Maldives' new businesses registered (number) rose 18.5% on 2022 (from 1,627 to 1,928). Across the 16 yearly changes before that (2007 to 2022), the average change was +4.9% and a typical year strayed about 16.8% from that (the standard deviation). This year's change was 0.8 standard deviations above 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?

The World Bank's World Development Indicators, licensed CC BY 4.0. Original source: Entrepreneurship Database, World Bank (WB), uri: https://www.worldbank.org/en/programs/entrepreneurship.

Source

World Bank, World Development Indicators, indicator IC.BUS.NREG, licensed CC BY 4.0. Original source: Entrepreneurship Database, World Bank (WB), uri: https://www.worldbank.org/en/programs/entrepreneurship 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.

Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.