Maldives Profile:

• The Maldives, officially the Republic of Maldives is a South Asian island country, located in the Indian Ocean, situated in the Arabian Sea.
• The Maldives are ranked the third most endangered nation due to flooding from climate change.
• The Maldives is a founding member of the South Asian Association for Regional Cooperation (SAARC) and also a member of the United Nations, the Organization of Islamic Cooperation, and the Non-Aligned Movement.
• Maldives is one of only two South Asian countries along with Sri Lanka are rated “high” on the Human Development Index, with its per capita income the highest among SAARC nations.
• 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 1 meter or less above sea level.

Maldives Economy:

• The World Bank classifies the Maldives as having an upper middle-income economy, driven by the rapid growth of its tourism and fisheries sectors, but the country still contends with a large and growing fiscal deficit.
• Fishing has historically been the dominant economic activity and remains the largest sector by far, followed by the rapidly growing tourism industry.
• 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.
• Tourism-related tax receipts increased by 13% in 2015 because of higher tax rates has led to higher usable foreign exchange reserves that helped partially fund increases in construction-related imports.
• Diversifying the economy beyond tourism and fishing, reforming public finance, increasing employment opportunities, and combating corruption, cronyism, and a growing drug problem are near-term challenges facing the government.

Maldives Facts:

• Population: 392,709
• Capital: Malé
• Largest city: Malé
• Area: 298 sq km
• Major language: Dhivehi (official), English (official)
• Major religion: Sunni Muslim
• Life expectancy: 73.5 years (Male), 78.3 years (Female)
• Monetary unit: 1 Rufiyaa(MVR) = 100 Laari
• Main exports: Fish
• GNI per Capita: $17,150