Names: conventional long form: Republic of Maldives conventional short form: Maldives local long form: Dhivehi Raajjeyge Jumhooriyyaa local short form: Dhivehi Raajje
Capital City: Male
Population: 359,008 (July 2006 est.)
GDP Per Capita: $3,900 (2002 est.)
Currency: rufiyaa (MVR)
Languages: Maldivian Dhivehi (dialect of Sinhala, script derived from Arabic), English spoken by most government officials
Total Area: total: 300 sq km land: 300 sq km water: 0 sq km about 1.7 times the size of Washington, DC
Region: Oceania
Industries: fish processing, tourism, shipping, boat building, coconut processing, garments, woven mats, rope, handicrafts, coral and sand mining
Agriculture: coconuts, corn, sweet potatoes; fish
Resources: fish
Labor Force:
88,000 (2000)
agriculture: 22% industry: 18% services: 60% (1995)
Exports:
$123 million f.o.b. (2004 est.)
fish
Imports:
$567 million f.o.b. (2004 est.)
petroleum products, ships, foodstuffs, clothing, intermediate and capital goods
Overview:
Tourism, Maldives' largest industry, accounts for 28% 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 the second leading sector. 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 7% of GDP. 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. Real GDP growth averaged over 7.5% per year for more than a decade. In late December 2004, a major tsunami left more than 100 dead, 12,000 displaced, and property damage exceeding $300 million. As a result of the tsunami, the GDP contracted by about 3.6% in 2005. A rebound in tourism, post-tsunami reconstruction, and development of new resorts helped boost GDP by nearly 18 percent in 2006. The trade deficit has expanded sharply as a result of high oil prices and imports of construction material. Diversifying beyond tourism and fishing is the major challenge facing the government. Over the longer term 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 2007 Missouri exported $385,242 in goods to Maldives. This ranks Maldives 143rd among the 223 international buyers of Missouri goods. Missouri exports to Maldives increased from the previous year by $282,112 a change of 273.55%. State exports to Maldives have increased over the last 5 years by 379,032 a change of 6103.57. Missouri exports account for .00%. of all 2007 US exports to Maldives.
| NAICS Industry | Annual | ||||||
|---|---|---|---|---|---|---|---|
| 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | ||
| 000 - Total All Industries MO | 6,210 | NA | 22,095 | 89,336 | 103,130 | 385,242 | |
| 000 - Total All Industries US | 4,126,316 | 6,579,641 | 9,861,805 | 9,266,610 | 17,647,304 | 19,321,264 | |