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Maldives
| 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. 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 lesser 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. In late December 2004, a major tsunami left more than 100 dead, 12,000 displaced, and property damage exceeding $300 million. |
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| Economy Statistics |
| Exports: |
$90 million f.o.b. (2002 est.) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Export
Commodities: |
fish, clothing [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
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Export
Partners: |
US 26.5%, Thailand 23.5%, Sri Lanka 12.3%, Japan 11.7%, UK 9.8%, Germany 4.9% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Imports: |
$392 million f.o.b. (2002 est.) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Import
Commodities: |
petroleum products, ships, foodstuffs, textiles, clothing, intermediate and capital goods [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
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Import
Partners: |
Singapore 24.9%, Sri Lanka 10.6%, UAE 10.3%, India 10.2%, Malaysia 7.6%, Bahrain 5.4% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Maldives National Chamber of Commerce and Industry |
| Address: |
ST 2/A, Block9, KDA Scheme 5 Clifton, P.O. Box 3831, Karachi-75600, PAKISTAN |
| Phone: |
(9221) 5874756 |
| Fax: |
(9221) 5870765 |
| Website: |
http://www.icci-oic.org/ |
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