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) 2011 2012 2013 2014 2015 2016
Total exports 62,358 67,371 71,967  81,176  85,890  77,951
Europe 38,328 38,795 40,351 38,398 36,196 36,834
United Kingdom 12,644 12,644 11,976 10,903 10,696 9,371
France 8,797 8,720 8,594 9,203 8,087 8,952
Africa 13,140 15,916 15,066 15,650 18,154 17,884
Madagascar 3,973 4,641 4,510 5,294 5,616 5,714
South Africa 4,982 6,693 6,039 5,770 7,496 6,355
United States 6,667 6,714 7,253 8,515 9,092 8,876
Asia 3,488 5,107 8,467 17,546 20,845 12,999
 Source : Statistics Mauritius.

Imports by Mauritius from main markets

Country of origin (Rs million) 2011 2012 2013 2014 2015 2016
Total imports 147,815 160,996 165,661 172,038 168,023 165,436
Asia 79,067 90,506 93,837 97,974 93,234 87,825
India 34,666 37,191 40,035 37,225 29,822 27,293
China 20,780 25,834 24,313 27,789 30,317 29,303
Europe 38,320 39,391 40,347 40,300 38,603 41,097
France 13,158 13,363 13,367 13,087 11,954 12,863
Spain 4,462 5,484 6,551 5,972 5,214 4,931
United Kingdom 3,403 3,230 3,560 3,048 3,678 3,597
Africa 16,925 17,383 17,789 18,411 20,160 22,316
South Africa 10,457 10,535 10,230 11,345 11,123 12,386
Kenya 1,294 1,560 1,375 1,268 1,275 1,255
Egypt 957 1,124 1,085 1,016 818 1,003
United States 2,633 2,801 2,438 2,658 2,693 3,491

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.

© 1996-2017 Maurinet.com - All Rights Reserved - Disclaimer - Privacy Policy - Designed and Maintained by COMPNet Ltd