MMA: Business activity increased in all main sectors in Q4-2014

Maldives Monetary Authority (MMA) has said following a survey that all major sectors reported an increase in the level of business activity in the final quarter of 2014, compared to the third quarter of 2014.

This came in a report titled Quarterly Business Survey, Fourth Quarter 2014; published on 18 February 2015.

MMA said that the business survey was conducted from 25 December 2014 to 8 January 2015, for which survey forms were sent out to 158 large enterprises - of which 66 responded - in four main sectors of the economy, namely construction, manufacturing, tourism, and wholesale and retail trade sectors.

According to the report, in the tourism sector, respondents reported an increase in total revenue of 43 percent, as well as an increase in labour-related costs in the fourth quarter of 2014 compared to the third quarter of 2014. They also expected total revenue to increase in the first quarter of 2015 compared to the fourth quarter of 2014, read the report.

As for the construction sector, 42 percent of respondents indicated an increase in the volume of orders received, as well as increases in labour costs and other input prices in the fourth quarter of 2014 compared to the previous quarter.

In the wholesale and retail trade sector, total volume of sales increased in in the fourth quarter of 2014 compared to the third quarter of 2014, by 55 percent; and respondents also reported an increase in selling price of 22 percent in the same period.

In the manufacturing sector, majority of businesses reported an increase in the volume of production in the fourth quarter of 2014 compared to the third quarter of 2014; however, during the same period, 71 percent of the respondents indicated a fall in the volume of orders received, read the report.