Fisheries

The Maldivian economy was for many centuries, entirely dependent on fishing and other marine products; therefore fishing has been and still remains the main occupation of the people. The government gives special priority to the development of the fisheries sector.

The mechanization of the traditional fishing dhoani in 1974 was a major milestone in the development of the fisheries industry and the country’s economy in general. A fish canning plant was installed in the island of Felivaru in 1977, as a joint venture with a Japanese firm. In 1979, a Fisheries Advisory Board was set up with the mandate of advising the government on policy guidelines for the overall development of the fisheries sector.

Manpower development programs were begun in the early 1980s, and fisheries education was incorporated into the school curriculum. Fish aggregating devices and navigational aids were located at various strategic points. Moreover, the opening up of the Exclusive Economic Zone (EEZ) of Maldives for fisheries has further enhanced the growth of the fisheries sector. Today, fisheries contribute over 15 percent of the GDP and engage about 30 percent of the country’s work force. It is also the second-largest foreign exchange earner after tousism.

Tourism

The capital of the Maldives, Male. The development of tourism has fostered the overall growth of the country’s economy. It has created direct and indirect employment and income generation opportunities in other related industries. Today, tourism is the country’s biggest foreign exchange earner, contributing to 20 percent of the GDP. With 86 tourist resorts in operation, the year 2000 recorded 467,154 tourist arrivals.

Cottage industries

The development tourism sector gave a major boost to the country’s fledging traditional cottage industries such as mat weaving, lacquer work, handicraft, and coir rope making. New industries that have since emerged include printing, production of PVC pipes, brick making, marine engine repairs, bottling of aerated water, garment production.