Economic Development of Maldives

Overview of The Maldives

The Maldives, officially the Republic of Maldives is an island country in the Indian Ocean. So it is the smallest Asian country by both area and population. Male is the capital and largest city. From the last several years, Maldives has been a development success story. It has a richly diverse marine environment. With more territorial sea than land, marine resources have played a vital role in shaping the contours of economic development, with nature-based tourism and fishing being the main drivers of economic growth. In the early 1980s, it was one of the world's 20 poorest countries, with a population of 156,000. Today, with a population of more than 300,000, it is a middle-income country with a per capita income of almost $7,000. Now it’s going up with some economic problems and opportunities, some of those are 1) Macroeconomic imbalances threaten to derail the government's development agenda, 2) Sustaining the country's impressive human development progress will be a key challenge, 3) Human development indicators such as infant mortality, maternal mortality, and educational attainment have registered improvements, 4) Maldives has made political transition recently by stablish democratic Government, 5) Environmental sustainability is the fundamental development challenge in the country, 6) Cost-effective service delivery is always a challenge in small island nations, 7) Capacity constraints are affecting the ability of the public sector to provide climate-resilient infrastructure and services and so on.

Members of international organization

The Maldives is a founding member of the South Asian Association for Regional Cooperation (SAARC). It is also a member of the United Nations, the Commonwealth of Nations, the Organization of Islamic Cooperation and the Non Aligned Movement.

Exporting Importing Product

Fishing is the second leading sector in the Maldives. The economic reform program by the government in 1989 lifted import...