Maldives Tenders

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Capital Male
ISO 3166 Code MV
Population 341,256
Area, Sq KM 300
Currency Maldivian rufiyaa
Official Language Maldivian
GDP, Billion USD 2,222
GDP Growth Rate, % 4.5
Inflation, Avg CP, % Chng N/A
Interest Rates, % N/A
Unemployement Rate, % N/A
Exchange Rate, 1 USD Equals 15.38
International dial code 960
Time Zone GMT+05:00
Internet TLD .mv

Maldives is known officially as the Republic of Maldives. It is an island nation located in the Indian Ocean–Arabian Sea area. The capital of Maldives, Malé, is about 750 kilometers southwest of Sri Lanka and 600 kilometers southwest of India. The country has been dominated by the colonial powers since the mid-sixteenth century, like, Britain, Portugal and the Netherlands. The islands acquired its independence from the British Empire in the year 1965, and became a republic ruled by an authoritarian government and a president in 1968. The population of this country is estimated to be 328,536. Out of 1,192 islands, only 192 are inhabited. The capital of the country solely had a population of 103,693 as of 2006. Male is also one of the administrative divisions and was traditionally the "King's Island".Maldives is the smallest Asian country in both in terms of land area and population. It is also the lowest planet in the world with an average ground level elevation of 1.5 meters above sea level. Maldives was renowned for its coir rope, dried tuna fish, coco de mer, ambergris and cowry shells in ancient times. Foreign and local ships used for trading used to load these products in Sri Lanka so that they could be transported to other harbours in Indian Ocean. Arabs used to call Maldives as “money isles” in the 2nd century AD as the country provided huge quantities of cowry shells and an international currency.] The cowry is now considered to be symbol of the Maldives Monetary Authority.In1989, the Maldivian government began an economic reform program by lifting import quotas and opening some exports to the private sector. Gradually, it liberalized regulations so that more foreign investments could be allowed. Real GDP growth of the country was recorded at an average of over 7.5% per year for more than a decade. Today, the largest industry of the country is tourism which accounts for more than 60% of the Maldives' foreign exchange receipts and 28 percent of the GDP. Fishing is considered to be the second leading sector in this region. However, manufacturing and agriculture cannot seem to thrive in this region as the availability of cultivable land is less and there is a shortage of domestic labour as well. The economy is based to a great extent on tourism. Even though Tsunami affected the country badly and the damage was estimated to be around 400 million dollars but the economy quickly recovered solely due to the tourism. Maldivians enjoys the highest GDP in terms of PPP per capita which was recorded at $11,900 among all the other south Asian countries.

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