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Maldives ECONOMY
Gross National Product (GNP): Ranked by United
Nations
as one of world's twenty-nine least developed countries,
World
Bank estimated 1991 GNP at US$101 million and per capita
income
at US$460, with annual growth rate of 6 percent in 1993.
Agriculture: Accounted for almost 10 percent of
gross
domestic product (GDP) in 1990 and employed about 7
percent of
labor force. Major products coconuts, cassava, corn, taro,
and
sweet potatoes. Most food imported.
Fishing:Provided 15 percent of GDP in 1992 and
employed
22 percent of labor force; extensive fishing fleet of
domestically built boats; 1992 catch record 82,000 tons.
Modernization and refrigeration projects underway.
Tourism: In l992 represented 17 percent of GDP
and
major source of foreign exchange. In 1991 had 196,112
tourists,
mainly from Germany, Italy, Britain, and Japan.
Exports: Fish and fish products, clothing
accessories;
main markets Britain, United States, and Sri Lanka.
Imports: Foodstuffs, petroleum products,
consumer
goods; sources India, Sri Lanka, Singapore, and Britain.
Balance of Payments: 1992 trade deficit US$110.5
million; current account deficit US$33.2 million.
Currency and Exchange Rate: 1 rufiyaa (Rf) = 100
laari.
June 1995 exchange rate US$1 = Rf11.77.
Fiscal Year: Calendar year.
Data as of August 1994
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