Maldives, the last paradise on Earth, is more than just an island nation of the Indian Ocean. It offers a plethora of products that together facilitate and drive the economy of the Archipelago Island.
Many confuse the beauty of the island as the primary source of income for the small nation. However, it’s just not the blue lagoon, the corals and the extensive reef that generate the economy of the nation. According to the official data of the small nation, only 28% of the GDP is driven by the tourism sector. This is fairly low as compared to the trade practices that generate 68% of the GDP.
Maldivian economy is, to a large extent, driven by trading of 5 products – cowries, coir rope, dried tuna fish (Maldive fish), ambergris and coco de mer. Since ancient years, these products have dominated the sphere of economy and attracted the markets of the World for the major period of time.
Let’s have a look at the predominant products that facilitate the trade practices in Maldives:
Although the word “Cowry” alludes to the sea snails, however, in the Maldivian culture, the word “Cowry” or “Cowrie” pertains to the shell of the snails. In the case of cowry, the shell is often shaped like an egg and is really smooth as compared to other shells of the snail.
Ever used a rope? Well, it is rather interesting to note that the rope is made from a fiber called coir. The material is extracted from the interior and the exterior of the coconut. Maldives is a primary exporter of coir rope.
DRIED TUNA FISH
The Maldivian Fish has an exquisite taste that titillates the taste buds like no sea food. Not just that, it specializes in exporting the dried finfish to all the fish markets across the world.
The word may seem difficult to comprehend but it’s something that is used in everyday lives. Ambergris is basically a marine odour that is derived from the intestines of the Sperm Whales. It mostly used as musk for fragrances and perfumes. Maldives produces large amount of perfumes that are exported across different regions.
COCO DE MER
Also called the Sea Coconut or the Double Coconut, Maldives is one of the major exporters of this product. It is not an ordinary coconut. It is used as an ingredient in making ayurvedic medicines or developing Chinese medicines.