Economy Of The Maldives
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Economy Of The Maldives
In ancient times, Maldives were renowned for cowries, coir rope, dried tuna fish (Maldive fish), ambergris (''maavaharu'') and coco de mer (''tavakkaashi''). Local and foreign trading ships used to load these products in the Maldives and bring them abroad. Nowadays, the mixed economy of Maldives is based on the principal activities of tourism, fishing and shipping. Tourism is the largest industry in the Maldives, accounting for 28% of GDP and more than 60% of the Maldives' foreign exchange receipts. It powered the current GDP per capita to expand 265% in the 1980s and a further 115% in the 1990s. Over 90% of government tax revenue flows in from import duties and tourism-related taxes. Fishing is the second leading sector in the Maldives. The economic reform program by the government in 1989 lifted import quotas and opened some exports to the private sector. Subsequently, it has liberalized regulations to allow more foreign investment. Agriculture and manufacturing play a mino ...
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Malé
Malé (, ; dv, މާލެ) is the capital and most populous city of the Maldives. With a population of 252,768 and an area of , it is also one of the most densely populated cities in the world. The city is geographically located at the southern edge of North Malé Atoll ( Kaafu Atoll). Administratively, the city consists of a central island, an airport island, and four other islands governed by the Malé City Council. Traditionally it was the King's Island, from where the ancient royal dynasties ruled and where the palace was located. The city was then called ''Mahal''. Formerly it was a walled city surrounded by fortifications and gates (''doroshi''). The Royal Palace (''Gan'duvaru'') was destroyed along with the picturesque forts (''koshi'') and bastions (''buruzu'') when the city was remodelled under President Ibrahim Nasir's rule in the aftermath of the abolition of the monarchy in 1968. However, some buildings remained, namely, the Malé Friday Mosque. In recent years, t ...
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Ease Of Doing Business Index
The ease of doing business index was an index created jointly by Simeon Djankov, Michael Klein, and Caralee McLiesh, three leading economists at the World Bank Group. The academic research for the report was done jointly with professors Edward Glaeser, Oliver Hart, and Andrei Shleifer. Higher rankings (a low numerical value) indicated better, usually simpler, regulations for businesses and stronger protections of property rights. Empirical research funded by the World Bank to justify their work show that the economic growth effect of improving these regulations is strong. Though the first report was authored by Djankov, Klein, and McLiesh, and they continue to be listed as "founders" of the report, some sources attribute the genesis of the idea to Djankov and Gerhard Pohl. The report was discontinued by the World Bank on September 16, 2021, following the release of an independent audit of the data irregularities. The audit documented how bank leadership pressured experts to ma ...
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Food
Food is any substance consumed by an organism for nutritional support. Food is usually of plant, animal, or fungal origin, and contains essential nutrients, such as carbohydrates, fats, proteins, vitamins, or minerals. The substance is ingested by an organism and assimilated by the organism's cells to provide energy, maintain life, or stimulate growth. Different species of animals have different feeding behaviours that satisfy the needs of their unique metabolisms, often evolved to fill a specific ecological niche within specific geographical contexts. Omnivorous humans are highly adaptable and have adapted to obtain food in many different ecosystems. The majority of the food energy required is supplied by the industrial food industry, which produces food with intensive agriculture and distributes it through complex food processing and food distribution systems. This system of conventional agriculture relies heavily on fossil fuels, which means that the food and agricu ...
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Ship
A ship is a large watercraft that travels the world's oceans and other sufficiently deep waterways, carrying cargo or passengers, or in support of specialized missions, such as defense, research, and fishing. Ships are generally distinguished from boats, based on size, shape, load capacity, and purpose. Ships have supported exploration, trade, warfare, migration, colonization, and science. After the 15th century, new crops that had come from and to the Americas via the European seafarers significantly contributed to world population growth. Ship transport is responsible for the largest portion of world commerce. The word ''ship'' has meant, depending on the era and the context, either just a large vessel or specifically a ship-rigged sailing ship with three or more masts, each of which is square-rigged. As of 2016, there were more than 49,000 merchant ships, totaling almost 1.8 billion dead weight tons. Of these 28% were oil tankers, 43% were bulk carriers, and ...
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Petroleum Product
Petroleum products are materials derived from crude oil (petroleum) as it is processed in oil refineries. Unlike petrochemicals, which are a collection of well-defined usually pure organic compounds, petroleum products are complex mixtures. The majority of petroleum is converted to petroleum products, which includes several classes of fuels. According to the composition of the crude oil and depending on the demands of the market, refineries can produce different shares of petroleum products. The largest share of oil products is used as "energy carriers", i.e. various grades of fuel oil and gasoline. These fuels include or can be blended to give gasoline, jet fuel, diesel fuel, heating oil, and heavier fuel oils. Heavier (less volatile) fractions can also be used to produce asphalt, tar, paraffin wax, lubricating and other heavy oils. Refineries also produce other chemicals, some of which are used in chemical processes to produce plastics and other useful materials. Since petro ...
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Fish
Fish are aquatic, craniate, gill-bearing animals that lack limbs with digits. Included in this definition are the living hagfish, lampreys, and cartilaginous and bony fish as well as various extinct related groups. Approximately 95% of living fish species are ray-finned fish, belonging to the class Actinopterygii, with around 99% of those being teleosts. The earliest organisms that can be classified as fish were soft-bodied chordates that first appeared during the Cambrian period. Although they lacked a true spine, they possessed notochords which allowed them to be more agile than their invertebrate counterparts. Fish would continue to evolve through the Paleozoic era, diversifying into a wide variety of forms. Many fish of the Paleozoic developed external armor that protected them from predators. The first fish with jaws appeared in the Silurian period, after which many (such as sharks) became formidable marine predators rather than just the prey of arthropods. ...
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Sand Mining
Sand mining is the extraction of sand, mainly through an open pit (or sand pit) but sometimes mined from beaches and inland dunes or dredged from ocean and river beds. Sand is often used in manufacturing, for example as an abrasive or in concrete. It is also used on icy and snowy roads usually mixed with salt, to lower the melting point temperature, on the road surface. Sand can replace eroded coastline. Some uses require higher purity than others; for example sand used in concrete must be free of seashell fragments. Sand mining presents opportunities to extract rutile, ilmenite, and zircon, which contain the industrially useful elements titanium and zirconium. Besides these minerals, beach sand may also contain garnet, leucoxene, sillimanite, and monazite. These minerals are often found in ordinary sand deposits. A process known as elutriation is used, whereby flowing water separates the grains based on their size, shape, and density. Sand mining is a direct cause of er ...
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Handicraft
A handicraft, sometimes more precisely expressed as artisanal handicraft or handmade, is any of a wide variety of types of work where useful and decorative objects are made completely by one’s hand or by using only simple, non-automated related tools like scissors, carving implements, or hooks. It is a traditional main sector of craft making and applies to a wide range of creative and design activities that are related to making things with one's hands and skill, including work with textiles, moldable and rigid materials, paper, plant fibers,clay etc. One of the oldest handicraft is Dhokra; this is a sort of metal casting that has been used in India for over 4,000 years and is still used. In Iranian Baluchistan, women still make red ware hand-made pottery with dotted ornaments, much similar to the 5000-year-old pottery tradition of Kalpurgan, an archaeological site near the village. Usually, the term is applied to traditional techniques of creating items (whether for perso ...
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Rope
A rope is a group of yarns, plies, fibres, or strands that are twisted or braided together into a larger and stronger form. Ropes have tensile strength and so can be used for dragging and lifting. Rope is thicker and stronger than similarly constructed cord, string, and twine. Construction Rope may be constructed of any long, stringy, fibrous material, but generally is constructed of certain natural or synthetic fibres. Synthetic fibre ropes are significantly stronger than their natural fibre counterparts, they have a higher tensile strength, they are more resistant to rotting than ropes created from natural fibres, and they can be made to float on water. But synthetic ropes also possess certain disadvantages, including slipperiness, and some can be damaged more easily by UV light. Common natural fibres for rope are Manila hemp, hemp, linen, cotton, coir, jute, straw, and sisal. Synthetic fibres in use for rope-making include polypropylene, nylon, polyes ...
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Clothing
Clothing (also known as clothes, apparel, and attire) are items worn on the body. Typically, clothing is made of fabrics or textiles, but over time it has included garments made from animal skin and other thin sheets of materials and natural products found in the environment, put together. The wearing of clothing is mostly restricted to human beings and is a feature of all human societies. The amount and type of clothing worn depends on gender, body type, social factors, and geographic considerations. Garments cover the body, footwear covers the feet, gloves cover the hands, while hats and headgear cover the head. Eyewear and jewelry are not generally considered items of clothing, but play an important role in fashion and clothing as costume. Clothing serves many purposes: it can serve as protection from the elements, rough surfaces, sharp stones, rash-causing plants, insect bites, by providing a barrier between the skin and the environment. Clothing can insulate against ...
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Coconut
The coconut tree (''Cocos nucifera'') is a member of the palm tree family (Arecaceae) and the only living species of the genus ''Cocos''. The term "coconut" (or the archaic "cocoanut") can refer to the whole coconut palm, the seed, or the fruit, which botanically is a drupe, not a nut. The name comes from the old Portuguese word '' coco'', meaning "head" or "skull", after the three indentations on the coconut shell that resemble facial features. They are ubiquitous in coastal tropical regions and are a cultural icon of the tropics. The coconut tree provides food, fuel, cosmetics, folk medicine and building materials, among many other uses. The inner flesh of the mature seed, as well as the coconut milk extracted from it, form a regular part of the diets of many people in the tropics and subtropics. Coconuts are distinct from other fruits because their endosperm contains a large quantity of clear liquid, called ''coconut water'' or ''coconut juice''. Mature, ripe coconuts ...
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Boat Building
Boat building is the design and construction of boats and their systems. This includes at a minimum a hull, with propulsion, mechanical, navigation, safety and other systems as a craft requires. Construction materials and methods Wood Wood is the traditional boat building material used for hull and spar construction. It is buoyant, widely available and easily worked. It is a popular material for small boats (of e.g. length; such as dinghies and sailboats). Its abrasion resistance varies according to the hardness and density of the wood and it can deteriorate if fresh water or marine organisms are allowed to penetrate the wood. Woods such as Teak, Totara and some cedars have natural chemicals which prevent rot whereas other woods, such as Pinus radiata, will rot very quickly. The hull of a wooden boat usually consists of planking fastened to frames and a keel. Keel and frames are traditionally made of hardwoods such as oak while planking can be oak but is more often so ...
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