The Maldives Monetary Authority (MMA) has reported an increase in employment across the primary sectors in the Maldives for the third quarter of this year.
In its recent Quarterly Business Survey Report, the MMA analysed data from major businesses in four key economic areas: tourism, construction, transportation, and communication services. The report also covered the wholesale and retail sectors, providing an overview of the current economic status and potential trends in the coming quarters.
The survey indicates that the tourism sector saw an increase in employment, with the construction sector continuing its previous job creation rates from the second quarter.
As the fourth quarter approaches, traditionally recognised as the peak tourism season in the Maldives, there are expectations for growth within the industry. On the other hand, some caution is expressed by the wholesale, retail, and construction sectors, anticipating a possible slowdown.
The transport and communication services sector, which experienced some setbacks in the first half of the fiscal year, showed positive trends in the third quarter, with the establishment of new companies contributing to job creation.
Initiated in 2013 and published quarterly, the MMA’s business survey aims to provide policymakers with insights into the current economic landscape and short-term projections.