Maldive Islands
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Location History Government Economy People & Culture |
Economy
Industries: fish processing, tourism, shipping, boat building, coconut processing, garments, woven mats, rope, handicrafts, coral and sand mining
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:
-Maldives second largest industry
-Employs about 20% of the labor force
Small boats called a Dhoni largely do fishing.
Exports - commodities: fish, clothing
Imports - commodities: consumer goods, intermediate and capital goods, petroleum products
Exchange rates: rufiyaa (Rf) per US$1 - 11.770 (fixed rate since 1995)
Currency: Maldivian Rufiya (Rf) = 100 laaris. Notes are in denominations of Rf500, 100, 50, 20, 10, 5 and 2. Coins are in denominations of Rf2 and 1, and 50, 25, 10, 5, 2 and 1 laari
To find out more on Government and Economy go to:
http://www.immigration-usa.com/wfb/maldives_government.html