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 2015 2016 2017 2018 2019 2020a
GDP (market prices) Rs bn 409.9 434.8 457.2 481.3 498.3

429.7 

Per capita GDP (market prices) US $ 324.6 344.0 361.5 380.3 393.6

339.4

GDP growth (basic prices) % +1.3 +3.8 +3.8 +3.8 +3.0

-15.2

Headline inflation Dec, % 1.3 1.0 3.7 3.2 0.5 2.5
Unemployment rate Average, % 7.9 7.3 7.1 6.9 6.7 -

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

Foreign direct investment in Mauritius by sector, 2015-20202(excluding GBC1s transactions)

  2015 2016 2017 2018 2019 20202
Construction 332 511 1,051 223 15 3
Accommodation & food service activities 725.8 2563.3 2381.9 1365 70 192
Financial and insurance activities 860 199 386 4,277 534 607
Real estate activities 8,120 9,931 8793 9,066 16,148 8,531
of which IRS/RES 6,842 7,936 5,775 8,064 14,030 6,308
Other            
Total 16,879.8 21,140.3 18,386.9 18,161 21,337 14,193

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

Direct investment abroad by sector, 2015-2020 (excluding GBC1s)

  2015 2016 2017 2018 2019 20203
Manufacturing 91 497 108 56 362 1645
Accommodation & food service activities 860 199 386 1,365 1,498 192
Financial and insurance activities 229 2,150 6,586 4,277 534 607
Real estate activities 8120 9,931 8,793 9,066 16,148 8,531
Other            
Total 9,286 15,132 21,371 12,777 15,873  
Source : Bank of Mauritius.

 

Imports from and exports to Mauritius (2015/ 2016 / 2017/ 2018/19/20)

Country of origin (Rs million)/U.S. Imports To Mauritius 2015 2016 2017 2018 2019 2020
France 318,857.67 365,118.79 422.625.01 464,931.22 392,907.04 -
United Kingdom 97,783.14 101,254.04 111.028.24 125,417.69 169,413.79 -
United Arab Emirates 68,896.57 86,312.30 112.485.30 193,662.33 407,625.08 -
United States 73,964.09 98,838.82 125.463.24 137,993.66 116,105.84 -
South Africa 288.036.98 348,506.81 448.553.84 523,123.11 452,291.35 -

 

Country of origin (Rs million)/U.S. Exports To Mauritius 2015 2016 2017 2018 2019 2020
France 294,848.42 325,356.61 332.715.09 278,203.16 237,285.19  -
United Kingdom 325.114.01 263.739.51 249.533.60 224,219.33 208,750.92  -
United Arab Emirates 306,766.98 63,334.23 21.377.96 15,290.37 6,547.56  -
United States 263,734.68 249,796.55 235.424.26 237,622.24 201,782.84  -
South Africa 214,302.70 179.851.79 187.823.60 218,137.72 195,976.21  -

Source : WITS - World Integrated Trade Solution.

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