Economy of Mauritius
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 centre 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 $1 billion. Mauritius, with its strong textile sector, has been well poised to take advantage of the Africa Growth and Opportunity Act (AGOA).
GDP
Real Growth Rate
4%
Per Capita
USD 13,500
From Agriculture
5%
From Industry
25%
From Services
70%
Labour Force
Available for Work
555,000
Working in Agriculture
0%
Working in Industry
0%
Working in Services
0%
Unemployment Rate
9%
Population Below Poverty Line
10%
Inflation Rate
9%
Investment as Percent of GDP
24%
Budget
Revenues
USD 1,475 (m)
Expenditures
USD 1,854 (m)
Public Debt
US$ 4131.00 (m)
Agricultural Products
Sugarcane, tea, corn, potatoes, bananas, pulses, cattle, goats, fish.
Core Industries
Food processing (largely sugar milling), textiles, clothing, mining, chemicals, metal products, transport equipment, nonelectrical machinery, tourism.
Exports
Value
USD 2,318 (m)
Commodities
Clothing and textiles, sugar, cut flowers, molasses.
Partners
UK 32%, France 17%, US 9.7%, UAE 8.6%, Madagascar 5.7%, Italy 5.7% (2005).
Imports
Value
USD 3,391 (m)
Commodities
Manufactured goods, capital equipment, foodstuffs, petroleum products, chemicals.
Partners
China 9.8%, South Africa 8.6%, France 7.6%, India 6.9%, Bahrain 5.2%, Finland 4.8%, Germany 4.1% (2005).
External Debt
USD 2,834 (m)
Fiscal Year
1 July - 30 June
