Economic indicators

No growth in tourism sector, 32% increase in fisheries sector: MMA

  • 4990.6 metric tons of fish weighed in December 2016
  • Asian nations accounted for increase in tourism sector
  • UK, German markets dropped

Rushdha Rasheed

K. Male' 2017 Feb 04 | Sat 23:05 1,145 business

MMA: the Authority has released the indicators for last year - Google

Maldives Monetary Authority (MMA) has revealed that tourism sector had not showed no growth in December 2016. However the authority reported that fisheries sector had recorded a growth of 32 percent in the same period.

The Economic Review publication, publicized by MMA, shows that in December 2016, 119,000 tourists visited the country. The figure is a stagnant figure from the same period a year before. The number of days tourists had spent in the country had increased by three percent.

The biggest growth was recorded from Asian nations, with Indian and Malaysian visitors bringing in the most visitors. However, major travel markets such as UK and Germany had dipped in the same period.

The occupancy rates for 2016 had fallen by three percent compared to 2015. In 2015, occupancy rate was at 67 percent. Last year the figure was at 64 percent.

Nearly 5000 metric tons of fish were weighed in December 2016, an increase of 32 percent compared to 2015. This however, is a decrease of 13 percent compared to November 2016 figures. Exports of fish in November 2016 increased by 19 percent compared to 2015 figures for the same period. But, the total value of exports decreased by 26 percent for the period.

MMA adds that exports for fresh and chilled fish increased, while earnings from frozen, fresh and chilled skip jack tuna decreased.


Last updated at: 1 week ago | Reviewed by: Aishath Shaany

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