Economy of Mauritius

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Contents 1 Economy - overview 2 Macroeconomic Statistics 3 See also 4 External links

[edit] 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. Sugarcane is grown on about 90% of the cultivated land area and accounts for 25% of export earnings. The government's development strategy centers on expanding local financial institutions and building a domestic information telecommunications industry. Mauritius has attracted more than 9,000 offshore entities, many aimed at commerce in India and South Africa, and 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).

[edit] Macroeconomic Statistics

GDP: purchasing power parity - $16.36 billion (2005 est.)

GDP - real growth rate: 3.8% (2005 est.)

GDP - per capita: purchasing power parity - $13,300 (2005 est.)

GDP - composition by sector:

agriculture: 6.1%

industry: 29.9%

services: 64% (2005 est.)

Investment (gross fixed): 22.5% of GDP (2004 est.)

Population below poverty line: 10% (2001 est.)

Household income or consumption by percentage share:

lowest 10%: NA

highest 10%: NA

Distribution of family income - Gini index: 37 (1987 est.)

Inflation rate (consumer prices): 4.5% (2004 est.)

Labor force: 570,000 (2005 est.)

Labor force - by occupation: agriculture and fishing 14%, construction and industry 36%, transportation and communication 7%, trade, restaurants, hotels 16%, finance 3%, other services 24% (1995)

Unemployment rate: 10.5% (2005 est.)

Budget:

revenues: $1.231 billion

expenditures: $1.582 billion, including capital expenditures of NA (2004 est.)

Public debt: 29.2% of GDP (2004 est.)

Agriculture - products: sugarcane, tea, corn, potatoes, bananas, pulses; cattle, goats; fish

Industries: food processing (largely sugar milling), textiles, clothing; chemicals, metal products, transport equipment, nonelectrical machinery; tourism

Industrial production growth rate: 8% (2000 est.)

Electricity - production: 1,836 GWh (2002)

Electricity - consumption: 1,707 GWh (2002)

Electricity - exports: None (0 kWh (2002))

Electricity - imports: None (0 kWh (2002))

Oil - production: None (0 bbl/day (2001 est.) )

Oil - consumption: 21,000 bbl/day (2003 est.)
21,000 bbl/day (2001 est.)

Oil - exports: NONE

Oil - imports: NA

Current account balance: $151 million (2005 est.)
$284.1 million (2004 est.)

Exports: $1.949 billion f.o.b. (2005 est.)
$2.012 billion f.o.b. (2004 est.)

Exports - commodities: clothing and textiles, sugar, cut flowers, molasses

Exports - partners: UK 30.6%, France 22.7%, US 13.7%, Madagascar 7.7% (2004)

Imports: $2.507 billion f.o.b. (2005 est.)
$2.245 billion f.o.b. (2004 est.)

Imports - commodities: manufactured goods, capital equipment, foodstuffs, petroleum products, chemicals

Imports - partners: France 13.1%, South Africa 10.8%, India 7.6%, China 5.9%, Germany 4.5%, Singapore 4% (2004)

Reserves of foreign exchange and gold: $1.676 billion (2004 est.)
$1.605 billion (2005 est.)

Debt - external: $2.958 billion (2005 est.)

Economic aid - recipient: $42 million (1997)

Currency: Mauritian rupee (MUR)

Currency code: MUR

Exchange rates: Mauritian rupees per US dollar - 32.86 (2006),29.14 (2005), 27.499 (2004), 27.902 (2003), 29.962 (2002), 29.129 (2001)

Fiscal year: 1 July - 30 June.

[edit] See also

• Mauritian Rupee
• List of Mauritian companies
• Mauritius

[edit] External links

• Ministry Of Finance and Economic Development
• Mauritius Chamber of Commerce and Industry
• Central Statistics Office - Official gatherer and provider of statistics for Mauritius