Part 460

Suffrage: 21 years of age; universal

Executive branch: chief of state and head of government: President Maumoon Abdul GAYOOM (since 11 November 1978) was reelected for a five-year term by secret ballot of the Majlis; election last held 1 October 1993 (next to be held NA 1998); results - President Maumoon Abdul GAYOOM was reelected with 92.76% of the vote cabinet: Ministry of Atolls was appointed by the president; note - need not be members of Majilis

Legislative branch: unicameral; members elected for five-year terms or appointed by the president Citizens' Council (Majlis): elections last held 2 December 1994 (next to be held NA December 1999); results - percent of vote NA; seats - (48 total, 40 elected, 8 appointed by the president) independents 40

Judicial branch: High Court

Political parties and leaders: although political parties are not banned, none exist

International organization participation: AsDB, C, CP, ESCAP, FAO, G-77, IBRD, ICAO, IDA, IDB, IFAD, IFC, IMF, IMO, Intelsat (nonsignatory user), Interpol, IOC, ITU, NAM, OIC, SAARC, UN, UNCTAD, UNESCO, UNIDO, UPU, WHO, WMO, WToO, WTrO

Diplomatic representation in US: Maldives does not have an embassy in the US, but does have a Permanent Mission to the UN in New York, headed by Ahmed ZAKI

US diplomatic representation: the US does not have an embassy in Maldives; the US Ambassador to Sri Lanka is accredited to Maldives and makes periodic visits there

Flag: red with a large green rectangle in the center bearing a vertical white crescent; the closed side of the crescent is on the hoist side of the flag

Economy -------

Economic overview: During the 1980s tourism became one of the most important and highest growth sectors of the economy. In 1994, tourism, Maldives largest industry, accounted for about 18% of GDP and more than 60% of the Maldives' foreign exchange receipts. Fishing is a second leading growth sector. Over 90% of government tax revenue comes from import duties and tourism-related taxes. The Maldivian Government initiated an economic reform program in 1989 initially by lifting import quotas and opening some exports to the private sector. Subsequently, it has liberalized regulations to allow more foreign investment. Agriculture and manufacturing continue to play a minor role in the economy, constrained by the limited availability of cultivable land and the shortage of domestic labor. Most staple foods must be imported. In 1994, industry which consisted mainly of garment production, boat building, and handicrafts accounted for about 15% of GDP.

GDP: purchasing power parity - $390 million (1994 est.)

GDP real growth rate: 6.6% (1994 est.)

GDP per capita: $1,560 (1994 est.)

GDP composition by sector: agriculture: 21.5% industry: 15.3% services: 63.2% (1994 est.)

Inflation rate (consumer prices): 16.5% (1994 est.)

Labor force: 66,000 (est.) by occupation: fishing industry 25%

Unemployment rate: NEGL%

Budget: revenues: $88 million (excluding foreign grants) expenditures: $141 million, including capital expenditures of $NA (1995 est.)

Industries: fish processing, tourism, shipping, boat building, coconut processing, garments, woven mats, rope, handicrafts, coral and sand mining

Industrial production growth rate: 6.3% (1994 est.)

Electricity: capacity: 5,000 kW production: 30 million kWh consumption per capita: 123 kWh (1993)

Agriculture: coconuts, corn, sweet potatoes; fishing

Exports: $75.3 million (f.o.b., 1994 est.) commodities: fish, clothing partners: Sri Lanka, US, Germany, Singapore, UK

Imports: $195.1 million (f.o.b., 1994 est.) commodities: consumer goods, intermediate and capital goods, petroleum products partners: Singapore, India, Sri Lanka, Hong Kong, Japan, Thailand

External debt: $137.5 million (1994 est.)

Economic aid: recipient: ODA, $NA

Currency: 1 rufiyaa (Rf) = 100 laari