Historically, the Maldives provided enormous quantities of cowry shells, an international currency of the early ages. From the 2nd century AD, the islands were known as the 'Money Isles' by the Arabs. Monetaria moneta were used for centuries as a currency in Africa, and huge amounts of Maldivian cowries were introduced into Africa by western nations during the period of slave trade. The cowry is now the symbol of the Maldives Monetary Authority. In the early 1970s, the Maldives was one of the world's 20 poorest countries, with a population of 100,000. The economy at the time was largely dependent on fisheries and trading local goods such as coir rope, ambergris (Maavaharu), and coco de mer (Tavakkaashi) with neighbouring countries and East Asian countries. The Maldivian government began a largely successful economic reform programme in the 1980s, initiated by lifting import quotas and giving more opportunities to the private sector. At the time tourism sector which would play a significant role in the nation's development was at its infant stage. Agriculture and manufacturing continue to play lesser roles in the economy, constrained by the limited availability of cultivable land and the shortage of domestic labour.
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