International Trade in the Maldives

International Trade in Maldives

After having registered a GDP growth rate of 5.8% in 2008, the country entered into recession in 2009 with a growth rate of - 1.3%, being strongly hit by the effects of the global economic crisis (fall in tourism, foreign financing and exports). Growth rate recovered in 2010, reaching... Read more

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Market Analyses About the Maldives (0)

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Import and Export Services in the Maldives (48)

  • Heritage Destination Consulting Ltd

    Heritage Destination Consulting Ltd

    Tourism Consulting, the Maldives

    International Heritage Interpretation & Heritage Tourism Destination Consultants Heritage Destination Consulting...
  • Bank of Ceylon

    Bank of Ceylon

    International Banking, the Maldives

    Twenty-eight years of presence in Maldives, offering effective and efficient service blended with professionalism to the industry. The...

Business Tips About the Maldives (0)

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Agents and Distributors in the Maldives (1)

  • Fresh Crops & Grains

    Fresh Crops & Grains

    Food/Agricultural Sales and Distribution, the Maldives

    How your food is grown or raised can have a major impact on your mental and emotional health as well as the environment. The Farm...
  • Zeal Enterprises

    Zeal Enterprises

    Trading Companies, the Maldives

    Our company was established in the 1997 as an Exporter of Spices from Sri Lanka and diversifying activities we commenced supplying of...

Overview About International Trade in the Maldives

Economic Overview

After having registered a GDP growth rate of 5.8% in 2008, the country entered into recession in 2009 with a growth rate of - 1.3%, being strongly hit by the effects of the global economic crisis (fall in tourism, foreign financing and exports). Growth rate recovered in 2010, reaching 3.4%, due to the resumption of tourism activities and exports. 

After the global economic crisis' destabilizing effect on the country's balance of payments, the public authorities asked the IMF for help, signing a stand-by accord in December 2009. The government's priorities are to restore macro-economic stability through a rigorous tax and monetary policy, to increment monetary reserves and to reinforce the banking sector. In addition to the crisis, the main problems that the country's economy faces are the lack of natural resources, the low availability of agricultural land and its great dependence in imports. Moreover, the country is still recovering from the destruction caused by the tsunami in 2004. 

Maldives is the most prosperous country in South Asia in terms of its per capita GDP. However, poverty does exist, unemployment is significant and infrastructures remain insufficient

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