Part 521

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

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

Judicial branch: High Court

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

International organization participation: AsDB, C, CCC, 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 the 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

Diplomatic representation from the US: 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 description: 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

Economy - 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 - $423 million (1995 est.)

GDP - real growth rate: 5.8% (1995 est.)

GDP - per capita: purchasing power parity - $1,620 (1995 est.)

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

Inflation rate - consumer price index: 7.7% (1995 est.)

Labor force: total: 56,435 (1990 est.) by occupation: fishing industry and agriculture 25%, services 21%, manufacturing and construction 21%, trade, restaurants, and hotels 16%, transportation and communication 10%, other 7%

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: 18,000 kW (1994)

Electricity - production: 40 million kWh (1994)

Electricity - consumption per capita: 163 kWh (1994 est.)

Agriculture - products: coconuts, corn, sweet potatoes; fishing

Exports: total value: $50 million (f.o.b., 199) commodities: fish, clothing partners: Sri Lanka, US, Germany, Singapore, UK

Imports: total value : $268 million (f.o.b., 1995 est.) commodities: consumer goods, intermediate and capital goods, petroleum products partners : Singapore, India, Sri Lanka, Hong Kong, Japan, Thailand

Debt - external: $137.5 million (1994 est.)

Economic aid: recipient: ODA, $NA