MMA’s survey register growth in local trade, tourism

Maldives Monetary Authority headquarters at Male' City. (File photo/Sun)

Statistics collected by central bank, Maldives Monetary Authority, show a significant growth in local trade and tourism in Maldives during the fourth quarter of 2018.

According to the Quarterly Business Survey for Q4 of 2018 released by MMA, the tourism sector and wholesale and retail trade experienced significant growth compared to the performance during Q3 of 2018

The survey shows the tourism sector experienced a 99 percent growth.

The income of the businesses involved in wholesale and retail increased by 55 percent in the last quarter of 2018, indicating a growth in the sector. 

The overall employment levels in tourism and wholesale and retail trade sector remained unchanged during Q4, while the manufacturing sector reported a significant increase in the employment level indicating a strong business performance.

The tourism sector, local trade, and manufacturing sector is projected to show further improvements during the current Q1 of 2019.

Meanwhile, the statistics show a lack of growth in the construction sector, which is projected to remain unchanged through Q1 of 2019.