Country Summary: Maldives (Republic of Maldives)
Country Name: Maldives (Republic of Maldives)
Capital: Male
Government Type: presidential republic
Background: A sultanate since the 12th century, the Maldives became a British protectorate in 1887. The islands became a republic in 1968, three years after independence. President Maumoon Abdul GAYOOM dominated Maldives' political scene for 30 years, elected to six successive terms by single-party referendums. Following political demonstrations in the capital Male in August 2003, GAYOOM and his government pledged to embark upon a process of liberalization and democratic reforms, including a more representative political system and expanded political freedoms. Political parties were legalized in 2005.
Continent: Asia
Population: 521,021 (2023 est.)
Ethnic Groups: homogeneous mixture of Sinhalese, Dravidian, Arab, Australasian, and African resulting from historical changes in regional hegemony over marine trade routes
Languages: Dhivehi (official, closely related to Sinhala, script derived from Arabic), English (spoken by most government officials)
Religions: Sunni Muslim (official)
Economic Overview: upper middle-income Indian Ocean island economy; major tourism, fishing, and shipping industries; high public debt; systemic corruption; crippled by COVID-19; ongoing deflation; poverty has tripled since pandemic began
Currency: Maldivian Rufiyaa (MVR)
Reserves of Foreign Exchange & Gold: $832.094 million (2022 est.) note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Real GDP (Purchasing Power Parity): $11.142 billion (2022 est.)
Real GDP Growth Rate: 13.91% (2022 est.)
Real GDP per Capita: $21,300 (2022 est.)
Exports:
$5.096 billion (2022 est.) note: balance of payments - exports of goods and services in current dollars
Comparison Ranking: 136
Export Commodities: skipjack and stripe-bellied bonito, fish fillets, propane, tuna, butane, scrap iron (2021)
Export Partners: Thailand 24%, United States 13%, China 12%, France 11%, Germany 11%, Italy 5%, United Kingdom 5% (2019)
Imports:
$4.904 billion (2022 est.) note: balance of payments - imports of goods and services in current dollars
Comparison Ranking: 152
Import Commodities: refined petroleum, fruits, furniture, broadcasting equipment, lumber (2019)
Import Partners: United Arab Emirates 24%, China 16%, Singapore 14%, India 11%, Malaysia 6%, Thailand 5% (2019)
Natural Resources: fish
Agricultural Products: papayas, vegetables, roots/tubers nes, nuts, fruit, other meat, tomatoes, coconuts, bananas, maize
Industries: tourism, fish processing, shipping, boat building, coconut processing, woven mats, rope, handicrafts, coral and sand mining
Industrial Production Growth Rate:
25.2% (2022 est.) note: annual % change in industrial value added based on constant local currency
Comparison Ranking: 4
Labor Force: 261,000 (2022 est.)
Unemployment Rate: 4.39% (2022 est.) note: % of labor force seeking employment
Natural Hazards: tsunamis; low elevation of islands makes them sensitive to sea level rise
Geography:
Total: 298 sq km
Land: 298 sq km
Water: 0 sq km
(Country Summary, The World Factbook, CIA.gov)
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