Attribute | Value |
---|---|
Geography | |
Area | 298 km² |
Continent | Asia |
Land area | 298 km² |
Water area | 0 km² |
Land boundaries | 0 km |
Border countries | Add |
Coastline | 644 km |
Mean elevation | 2 m |
Lowest point | 0 m |
Highest point | 5 m |
People | |
Population | 391,904 |
Official languages |
|
Religion | Sunni Muslim |
Government | |
Long country name | Republic of Maldives |
Short country name | Maldives |
Long local name | Dhivehi Raajjeyge Jumhooriyyaa |
Short local name | Dhivehi Raajje |
Former name | Add |
Government type | Presidential republic |
Capital | Male |
Economy | |
GDP (PPP) | 6,901,000,000 USD |
GDP (OER) | 4,505,000,000 USD |
GDP (real growth rate) | 4.8 % |
GDP - per capita (PPP) | 19,200 USD |
Gross national saving | 0.5 % of GDP |
Labor force | 222,200 |
Unemployment rate | 2.9 % |
Population below poverty line | 15 % |
Budget revenues | 1,190,000,000 USD |
Budget expenditures | 1,643,000,000 USD |
Military expenditures | Add |
Taxes and other revenues | 26.4 % of GDP |
Budget surplus or deficit | -10.1 % of GDP |
Public debt | 63.9 % of GDP |
Inflation rate | 2.3 % |
Central bank discount rate | 7 % |
Commercial bank prime lending rate | 10.5 % |
Stock of narrow money | 908,600,000 USD |
Stock of broad money | 1,982,000,000 USD |
Stock of domestic credit | 1,559,000,000 USD |
Market value of publicly traded shares | 555,000,000 USD |
Current account balance | -876,000,000 USD |
Exports | 256,200,000 USD |
Imports | 2,125,000,000 USD |
Reserves of foreign exchange and gold | 477,900,000 USD |
External debt | 848,800,000 USD |
National currency | rufiyaa |
National currency (code) | MVR |
National currency (symbol) | .ރ |
National currency rate to USD | 15.42 |
A sultanate since the 12th century, the Maldives became a British protectorate in 1887. The islands became a republic in 1968, three years after independence. President Maumoon Abdul GAYOOM dominated Maldives' political scene for 30 years, elected to six successive terms by single-party referendums. Following political demonstrations in the capital Male in August 2003, GAYOOM and his government pledged to embark upon a process of liberalization and democratic reforms, including a more representative political system and expanded political freedoms. Political parties were legalized in 2005. In June 2008, a constituent assembly - termed the "Special Majlis" - finalized a new constitution ratified by GAYOOM in August 2008. The first-ever presidential elections under a multi-candidate, multi-party system were held in October 2008. GAYOOM was defeated in a runoff poll by Mohamed NASHEED, a political activist who had been jailed several years earlier by the GAYOOM regime. In early February 2012, after several weeks of street protests in response to his ordering the arrest of a top judge, NASHEED purportedly resigned the presidency and handed over power to Vice President Mohammed WAHEED Hassan Maniku. A government-appointed Commission of National Inquiry concluded there was no evidence of a coup, but NASHEED contends that police and military personnel forced him to resign. NASHEED, WAHEED, and Abdulla YAMEEN Abdul Gayoom ran in the 2013 elections with YAMEEN ultimately winning the presidency after three rounds of voting. As president, YAMEEN weakened democratic institutions, curtailed civil liberties, jailed his political opponents, restricted the press, and exerted control over the judiciary to strengthen his hold on power and limit dissent. In September 2018, YAMEEN lost his reelection bid to Ibrahim Mohamed SOLIH, a parliamentarian of the Maldivian Democratic Party (MDP), who had the support of a coalition of four parties that came together to defeat YAMEEN and restore democratic norms to Maldives. In April 2019, SOLIH's MDP won 65 of 87 seats in parliament.