Diplomatic representation from the US:
the US does not have an embassy in Maldives; the US Ambassador to
Sri Lanka is accredited to Maldives and makes periodic visits there
Flag description:
red with a large green rectangle in the center bearing a vertical
white crescent; the closed side of the crescent is on the hoist side
of the flag
Economy 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. 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
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.
GDP:
purchasing power parity - $1.25 billion (2002 est.)
GDP - real growth rate:
2.3% (2002 est.)
GDP - per capita:
purchasing power parity - $3,900 (2002 est.)
GDP - composition by sector:
agriculture: 20%
industry: 18%
services: 62% (2000 est.)
Population below poverty line:
NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%