Economy

GDP: US$ 1.8bn (IMF, 2011 est)
GDP per head: US$5,841 (IMF, 2011 est)
GDP Growth: 8.0% (IMF, 2011 est)
Human Development Index Ranking: 107th out of 168 countries (UN, 2010)
Inflation: 6.5% (IMF, 2011 est)
Major Industries (as a % of GDP): Tourism (29%), Transport and Communications (20%); Government (18%), Manufacturing (7%), Construction (6%), Fishing (3%),  
Export partners (goods): Thailand (49%), EU27 (31%), Sri Lanka (9.5%), Japan (2.9%), Iran (2.9%) (WTO, 2009)
Import partners (goods): Singapore (21.3%), UAE (18%), EU27 (11.5%), India (10.4%), Malaysia (7.7%) (WTO, 2009)
Total exports: US$ 163 million (2009) 90% agricultural products
Total imports: US$ 967 million (2009) 24% agricultural products, 12% fuels, 60.7% manufacturing
Transparency International Corruption Perceptions Index ranking:  143th of 180 countries (2011)
World Bank Doing Business Ranking: 85th of 183 countries (2011)

Maldives economy is dominated by tourism, which accounts for a third of GDP, over 60% of foreign exchange receipts and 90% of government tax revenues. Over half a million people visit the islands each year. The traditional fishing industry now only accounts for 3% GDP, although it remains an important source of employment (11% of the population) and exports (over $80 million in 2009). The manufacturing and agricultural sectors are small, constrained by a low skilled workforce and lack of cultivable land.

The IMF has categorised the Maldives as a moderate risk of debt default, due to concerns over its fiscal budgets. In December 2009, The IMF stepped in to provide the Maldives with a $79.3mn standby loan, but last year refused to release the second tranche in November 2010, due to a lack of progress on cutting fiscal expenditure and reforms.

Trade and Investment

The Maldives has an open economy with a narrow export base, the country is heavily import oriented for most of its economic activities. As a result, foreign merchandise trade normally records a large deficit. Imports have averaged around two thirds of GDP in the last 5 years, and domestic exports, consisting primarily of fish and fish products have ranged between 10 to 15 percent of GDP.
Imports: As the Maldives' economy is heavily import-oriented, the country imports virtually everything such as petroleum products, intermediate and capital goods, foodstuffs, textiles, clothing, etc.   
Import partners: Singapore 23%, UAE 19%, India 11%, Malaysia 9%, Sri Lanka 7%.
Exports: Frozen, fresh and processed fish and other marine products.   
Export partners: Thailand 22%, Japan 22%, UK 14%, Sri Lanka 15%, Germany 5%. 
Exchange rate: Maldivian Rufiyaa is pegged to the US dollar at USD 1.00 = Rf 12.80 (mid rate)

Investment opportunities range from investment affiliated with the tourism industry, such as development of air and sea transport or direct investment in tourism itself and marine based industries such as reef fish processing, aquaculture/marine culture and production of value-added fish and marine based products.  

The sectors where potential exists are:  

• Fisheries sector 
• Financial sector 
• Transport and other services sectors 
• Infrastructure development 

Travel & Tourism

Maldives is one of the few island in the world that presents added attractions of sun, sand and sea,. It is situated in the South West of Sri Lanka, on the equator. Made up of 26 natural water bodies, stretching from north to south, Maldives is a perfect natural mishmash for the ideal tropical holiday destination. Sightsee to Maldives takes you to dazzling bright sun-kissed beaches, crystal-clear lagoons with colored corals and superb marine life surrounded with palm-fringed islands giving a rare glimpse of tropical paradise. If water is your sport, Maldives is the first name for you. Water-Sports is a prime magnetism for the adventure seeking tourists who love to indulge in water sports activities like surfing, skiing, speed boating. The water sports adventures in Maldives are one of the main reasons to make a tour to this island of corals.