Retail, wholesale businesses record 56% boost

Maldives Monetary Authority (MMA) has revealed the retail and wholesale businesses have been significantly profitable during Q2 2018 with a 56% boost to the sector.

MMA conducted the survey including 170 participants from April 4 until April 28. Tourism sector related supply ventures, construction companies as well as retailer and wholesaler businesses were included in the survey.

During the second quarter of 2018 the wholesale orders under supply company requisitions have increased by 62 percent.

While Ramadan fell into second quarter this year much like in 2017 a total of 61% of the businesses (included in the survey) reported the price on goods remained unchanged.

According to MMA the goods in stock under local businesses have increased by 62% during Q2 of 2018.