The economy is based on fishing, tourism, and shipping. Agriculture is limited to the production of a few subsistence crops that provide only 10% of food requirements. Fishing is the largest industry, employing 25% of the work force and accounting for over 60% of exports; it is also an important source of government revenue. During the 1980s tourism became one of the most important and highest growth sectors of the economy. In 1988 industry accounted for about 5% of GDP. Real GDP is officially estimated to have increased by about 10% annually during the period 1974-90.
Industries: fishing and fish processing, tourism, shipping, boat building, some coconut processing, garments, woven mats, coir (rope), handicrafts.
Agriculture: accounts for almost 25% of GDP (including fishing); fishing more important than farming; limited production of coconuts, corn, sweet potatoes; most staple foods must be imported; fish catch of 67,000 tons (1990 est.). |
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Name: Maldives |
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Area: 298 sq km |
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Capital City: Malé |
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Population: 301,000 |
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Language: Maldivian Divehi |
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Currency: Rufiyas |
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Time Zone: GMT+ 5 hours |
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Religion: Sunni Muslim |
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