Economy of the Maldives

Economy of the Maldives

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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. In ancient times the Maldives were renowned for cowries, coir rope, dried tuna fish, ambergris and Coco de mer. Local and foreign trading ships used to load these products in the Maldives and bring them abroad. Nowadays, the mixed economy of the Maldives is based on the principal activities of tourism, fishing and shipping. Tourism is the largest industry in the Maldives, accounting for 28% of GDP and more than 60% of the Maldives' foreign exchange receipts. It powered the current GDP per capita to expand 265% in the 1980s and a further 115% in the 1990s. Over 90% of government tax revenue flows in from import duties and tourism-related taxes. Fishing is the second leading sector in the Maldives. The economic reform program by the government in 1989 lifted import quotas and opened some exports to the private sector. Subsequently, it has liberalized regulations to allow more foreign investment. Agriculture and manufacturing play a minor role in the economy, constrained by the limited availability of cultivable land and shortage of domestic labour. Most staple foods are imported. Industry in the Maldives consists mainly of garment production, boat building, and handicrafts. It accounshow more

Product details

  • Paperback | 88 pages
  • 152 x 229 x 5mm | 141g
  • Bellum Publishing
  • United States
  • English
  • 6135831933
  • 9786135831931