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The Maldivian Economy has seen
unprecedented growth during the last two to three decades.
Traditionally dependant on fisheries, the advent of tourism in
1972 has tilted the economy in increasingly in favor of the new
industry. In spite of this structural transformation, the
fisheries sector has seen increased modernization while
maintaining the traditional aspects of the industry that has
sustained is for so long.
Maldives is one of the few countries among the Least Developed
Countries that have demonstrated the capacity to lay the
foundations of a sustainable development process. The fact that
level of poverty found in other developing countries is
virtually absent in the Maldives testifies that the benefits of
growth have been well distributed.
In 1999 the annual growth rate was
registered at 8.5%, brining the GDP to US$ 267 million. GDP per
capita for the year is USD 962. The annual average rate of
growth has been maintained above the 8% mark since 1985.
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