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Garment & fabric business registers a slow down
07
Jul '08
Fabric and readymade garment shops in Maldives have reported a drop in their sales business.

Business in almost all of these apparel and fabric stores has declined by approximately 20 percent and although it is a known fact that sales slow down towards the end of the month, retails stores like Kalhirava have witnessed a 15 percent slump.

Other shops like Model have asserted that under normal circumstances, business is usually better during the first half of the month but presently it is down by about about 25 percent.

While some believe that business have taken a downturn because of SAFF Championship which led to a increase in public spending, others are of the opinion that its is due to a global rise in prices of food, fuel and oil products. Since they are essential consumer goods, buyers are likely to spend less on other luxury products.

Experts believe that business will improve only when global market conditions change due to lowering of oil and fuel prices.

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