Maldives Monetary Authority (MMA) has revealed the Gross Domestic Product (GDP) increased in most sectors during the last quarter of 2019.
According to the quarterly report published by MMA, GDP from tourism, wholesale and retail businesses increased in the last quarter compared to the third quarter. Meanwhile, GDP from the construction industry was maintained at the same level.
Prices of products from wholesale and retail businesses and the materials and services from the construction industry did not show any significant changes across the last two quarters of 2019. MMA also predicts the prices will be maintained at the same level during the first quarter of 2020.
According to the report, more jobs were created in the tourism and construction industries during the last quarter of 2019 compared to the previous quarter. However, no increase was reported in jobs created from other sectors.
While the expenditure of the tourism sector showed an increase in the last quarter, expenditure of all other sectors were maintained at the same level as the third quarter. MMA predicts the capital of tourism, wholesale and retail to be at the same level this year, while the capital of the construction industry is expected to increase.
The quarterly report was based on a survey which was partaken by 149 companies across different sectors.