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Maldives Industry basically comprises of small scale industries. There are no large scale industries manufacturing heavy machinery or with big industrial set up. The production or manufacturing sector is unable to flourish as it there is a dearth of manpower. There are some indigenous industries which are engaged in the manufacturing of coir which is made from dried out fibers of coconut, boat building and lace making. The exquisitely woven mats are well known for their intricate designs and great quality. Other items that are locally produced and are exported to other countries include handicrafts, copra, bone dust, tortoise shell, ambergris, red stone copra and coconuts.
The fishing industry is an important industry in Maldives. The entire process is carried out by the line and pole method which has been in use for a long period of time. Fishing with nets is considered to be unlawful and is thus prohibited throughout the land. The fishermen go about on their job in flat bottomed boats which are motorized. Earlier the Government of Maldives had a monopoly over the export of tuna fish which was subsequently lifted in 2001 and licenses were issued to four operations for the buying and exporting of tuna fish. There are several fish processing units, garment factories and other small scale manufacturing units that manufacture soaps, furniture, food products and other items of necessity.
Tourism has in fact developed as the main industry of Maldives and accounts for a major portion of the total revenue earned by the state. The growth of the tourism industry has heavily contributed to the economy of Maldives. It earns the maximum amount of foreign exchange and revenue for the country and contributes one fifth of the total GDP.
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