Statistics from National Bureau of Statistics (NBS) has shown the nominal Gross Domestic Product (GDP) of Maldives has increased 12.5% from 2017 to 2018, which is an all-time high for the country.
The nominal GDP was at USD 4.714 billion in 2017 and the amount rose to USD 5.303 billion, recording an increase of 12.5%. The statistics showed the biggest contribution to the GDP was made from tourism sector with a total of 20.2% of the amount.
Meanwhile, the second biggest contribution towards GDP was made from transport, post services and communication services with a total of 11%. Construction and fisheries sector contributed 9.3% and 4.5% to the GDP respectively.
The GDP measures national income and output for a given country's economy. The GDP is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time.
The GDP value of Maldives represents 0.01% of the world economy. GDP in Maldives averaged USD 1.35 billion from 1980 until 2018.