Mother Earth Travel > Country Index > Maldives > Map Economy History |
| Economy - overview: Tourism, Maldives largest industry, accounts
for 20% of GDP and more than 60% of the Maldives' foreign exchange
receipts. Over 90% of government tax revenue comes from import duties and
tourism-related taxes. Almost 400,000 tourists visited the islands in
1998. Fishing is a second leading sector. The Maldivian Government began
an economic reform program in 1989 initially by lifting import quotas and
opening some exports to the private sector. Subsequently, it has
liberalized regulations to allow more foreign investment. Agriculture and
manufacturing continue to play a minor role in the economy, constrained by
the limited availability of cultivable land and the shortage of domestic
labor. Most staple foods must be imported. Industry, which consists mainly
of garment production, boat building, and handicrafts, accounts for about
18% of GDP. Maldivian authorities worry about the impact of erosion and
possible global warming on their low-lying country; 80% of the area is one
meter or less above sea level. GDP:
purchasing power parity - $594 million (2000 est.) SOURCE: The World Factbook |
Mother Earth Travel > Country Index > Maldives > Map Economy History