Maldives: Taxes on goods and services (current LCU)

Key figures

What the numbers say

In 2021, Maldives' taxes on goods and services (current LCU) rose 83.2% on 2020 (from 4.99 billion to 9.14 billion).

Across the 30 yearly changes before that (1986 to 2020), the average change was +14.4% and a typical year strayed about 31.4% from that (the standard deviation). This year's change was 2.2 standard deviations above that average, so it was unusually large compared with the rest of the record.

On record, the biggest yearly rise was 161.2% in 2011 and the biggest yearly fall was 45% in 2020. 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 there is no clear straight-line trend: a straight line explains 18% of the movement over 8 observed years, so the value is moving around more than it is heading anywhere.

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. — 4th of 8: 232.66 billion
• Gabon — 5th of 8: 227.38 billion
• Peru — 6th of 8: 67.68 billion
• Eswatini — 8th of 8: 4.64 billion

What this measures

General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. 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

Taxes on goods and services (current LCU) in nearby economies

• Bangladesh — 1.47 trillion (2021)
• Bhutan — 9.84 billion (2020)
• India — 7.99 trillion (2022)
• Nepal — 345.78 billion (2023)
• Sri Lanka — 1.42 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 (% 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)
• Taxes on international trade (% of revenue) — 17.7% (2021)
• Tax revenue (current LCU)

Reading data like this

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Questions people ask

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

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

How has it changed since 1979?

It is up 761,685% from 1.2 million in 1979 (23.72% a year on average, compounded). The highest value was 9.14 billion in 2021 and the lowest 1.2 million in 1979.

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

In 2021, Maldives' taxes on goods and services (current LCU) rose 83.2% on 2020 (from 4.99 billion to 9.14 billion). Across the 30 yearly changes before that (1986 to 2020), the average change was +14.4% and a typical year strayed about 31.4% from that (the standard deviation). This year's change was 2.2 standard deviations above that average, so it was unusually large compared with the rest of the record.

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.TAX.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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