Economics

Government

Type: Parliamentary democracy
Capital: Port-Louis
Names: Conventional long form: Republic of Mauritius
Conventional short form: Mauritius
Administrative divisions: 9 districts and 3 dependencies*; Agalega Islands*, Black River, Cargados Carajos*, Flacq, Grand Port, Moka, Pamplemousses, Plaines Wilhems, Port-Louis, Riviere du Rempart, Rodrigues*, Savanne
Independence: 12 March 1968 (from UK) National holiday: Independence Day, 12 March 1968.

 

Mauritius Economy

Economy Overview
Since independence in 1968, Mauritius has developed from a low-income, agriculturally based economy to a middle-income diversified economy with growing industrial, financial, and tourist sectors. For most of the period, annual growth has been in the order of 5% to 6%. This remarkable achievement has been reflected in more equitable income distribution, increased life expectancy, lowered infant mortality, and a much-improved infrastructure. The economy rests on sugar, tourism, textiles and apparel, and financial services, and is expanding into fish processing, information and communications technology, and hospitality and property development. Sugarcane is grown on about 90% of the cultivated land area and accounts for 15% of export earnings. The government's development strategy centers on creating vertical and horizontal clusters of development in these sectors. Mauritius has attracted more than 32,000 offshore entities, many aimed at commerce in India, South Africa, and China. Investment in the banking sector alone has reached over $1 billion. Mauritius, with its strong textile sector, has been well poised to take advantage of the Africa Growth and Opportunity Act (AGOA).

 Key economic indicators
Main Economic indicators Unit 2011 2012 2013 2014 2015 2016
GDP (market prices) Rs bn 323 344 366 383 403.5

431.8*

Per capita GDP (market prices) US $ 257.8 273.5 290.8 306.2 b 319.5

341.8*

GDP growth (basic prices) % +3.6 +3.4 +3.2 +3.4 +3.1

+3.9*

Headline inflation Dec, % 6.5 3.9 3.5 3.2 1.3 -
Unemployment rate Average, % 7.8 8.0 8.0 7.8 7.8 -

Source : Statistics Mauritius, Ministry of Finance and Economic Development.
*First Quarter
 

Foreign direct investment in Mauritius by sector, 2011-2016 (excluding GBC1s transactions)

  2011 2012 2013 2014 2015 2016
Construction 262.9 330.9 389.3 410.7 310.2 499 (1st QTR)
Accommodation & food service activities 3718.7 2702.8 4547.4 4413.2 725.8 3374 (1st QTR)
Financial and insurance activities 1,972 5,512 716 - - -
Real estate activities 5,236 7,553 5,924 1,511 - -
of which IRS/RES 3,352 4,228 4,596 1,146 - -
Other - - - - - -
Total - - - - - -

Source : Bank of Mauritius.
*1st QTR : First Quarter

Direct investment abroad by sector, 2011-2016 (excluding GBC1s)

  2011 2012 2013 2014 2015 2016
Manufacturing 669 1,597 280 - - -
Accommodation & food service activities 999 1,839 314 117* - -
Financial and insurance activities 1,972 5,512 716 - - -
Real estate activities 5,236 7,553 5,924 1,511* - -
Other - - - - - -
Total - - - - - -
Source : Bank of Mauritius.
 
*First Quarter
 

Export of goods by Mauritius to main markets

Country of destination (Rs million) 2008 2009 2010 2011 2012 2013
Total exports 59,015 56,162 61,990 62,358 67,371 71,967
Europe 40,136 37,445 39,281 38,328 38,795 40,351
United Kingdom 20,134 15,280 13,373 12,644 12,644 11,976
France 7,915 9,317 10,517 8,797 8,720 8,594
Africa 9,826 10,516 11,399 13,140 15,916 15,066
Madagascar 3,451 3,587 3,562 3,973 4,641 4,510
South Africa 2,146 2,553 3,602 4,982 6,693 6,039
United States 3,926 4,624 6,189 6,667 6,714 7,253
Asia 4,412 2,904 4,471 3,488 5,107 8,467
 Source : Statistics Mauritius.

Imports by Mauritius from main markets

Country of origin (Rs million) 2008 2009 2010 2011 2012 2013
Total imports 132,165 118,444 134,882 147,815 160,996 165,661
Asia 71,250 59,049 71,188 79,067 90,506 93,837
India 31,699 22,336 29,629 34,666 37,191 40,035
China 15,288 14,903 18,033 20,780 25,834 24,313
Europe 32,162 33,960 34,264 38,320 39,391 40,347
France 10,159 13,812 11,787 13,158 13,363 13,367
Spain 3,759 2,800 3,680 4,462 5,484 6,551
United Kingdom 2,996 2,925 2,992 3,403 3,230 3,560
Africa 16,986 14,799 16,910 16,925 17,383 17,789
South Africa 10,723 10,236 11,433 10,457 10,535 10,230
Kenya 1,038 1,089 1,317 1,294 1,560 1,375
Egypt 961 834 945 957 1,124 1,085
United States 2,990 2,576 3,142 2,633 2,801 2,438

Source : Statistics Mauritius & Bank of Mauritius.

Imports from and exports to Mauritius (2002-2013)

(US$ million) U.S. Exports To Mauritius % Change U.S. Imports from Mauritius % Change Two-Way
Trade
% Change
2000 24.346   286.008   310.354  
2001 29.033 +19.3 275.127 -3.8 304.160 -2.0
2002 27.457 -5.7 280.433 +1.9 307.890 +1.2
2003 32.010 +16.6 298.096 +6.3 330.106 +7.2
2004 28.416 -11.2 270.397 -9.3 298.813 -9.5
2005 30.849 +8.6 221.997 -17.9 252.846 -15.4
2006 35.608 +15.4 218.649 -1.5 254.257 +0.6
2007 49.794 +39.8 187.020 -14.5 263.814 +3.8
2008 51.293 +3.0 176.189 -5.8 227.482 -13.8
2009 70.031 +36.5 168.863 -4.2 238.894 +6.3
2010 40.028 -42.8 196.055 +16.2 236.083 -1.2
2011 45.951 +14.8 250.483 +27.8 296.434 +24.3
2012 95.976 +108.9 261.412 +4.4 357.388 +20.6
2013 42.036 -56.2 338.024 +29.3 380.060 +6.3

Source : US International Trade Commission.

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