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Mauritius: Economy#

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. Mauritius has achieved steady and strong growth over the last several decades, resulting 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). Mauritius' sound economic policies and prudent banking practices helped to mitigate negative effects of the global financial crisis in 2008-09. GDP grew in the 3-4% per year range in 2010-13, and the country continues to expand its trade and investment outreach around the globe.

Economic Facts#

GDP (purchasing power parity)$20.95 billion (2013 est.)
$20.26 billion (2012 est.)
$19.61 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate3.4% (2013 est.)
3.3% (2012 est.)
3.8% (2011 est.)
GDP - per capita (PPP)$16,100 (2013 est.)
$15,600 (2012 est.)
$15,200 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 4.5%
industry: 22%
services: 73.4% (2013 est.)
Population below poverty line8% (2006 est.)
Household income or consumption by percentage sharelowest 10%: NA%
highest 10%: NA%
Labor force - by occupationagriculture and fishing: 9%
construction and industry: 30%
transportation and communication: 7%
trade, restaurants, hotels: 22%
finance: 6%
other services: 25% (2007)
Exports - commoditiesclothing and textiles, sugar, cut flowers, molasses, fish, primates (for research)
Exports - partnersUK 19.3%, France 16.4%, US 9.9%, South Africa 9.8%, Spain 7.5%, Italy 6.9%, Madagascar 6.8% (2012)
Agriculture - productssugarcane, tea, corn, potatoes, bananas, pulses; cattle, goats; fish
Budgetrevenues: $2.507 billion
expenditures: $2.736 billion (2013 est.)
Imports - commoditiesmanufactured goods, capital equipment, foodstuffs, petroleum products, chemicals
Imports - partnersIndia 23.1%, China 16%, France 8.5%, South Africa 6.5% (2012)
Exchange ratesMauritian rupees (MUR) per US dollar -
30.89 (2013 est.)
30.051 (2012 est.)
30.784 (2010 est.)
31.96 (2009)
27.973 (2008)
Exports$2.788 billion (2013 est.)
$2.673 billion (2012 est.)
Debt - external$2.894 billion (31 December 2013 est.)
$2.606 billion (31 December 2012 est.)
Fiscal year1 July - 30 June
Imports$4.953 billion (2013 est.)
$5.104 billion (2012 est.)
Industrial production growth rate0.2% (2013 est.)
Industriesfood processing (largely sugar milling), textiles, clothing, mining, chemicals, metal products, transport equipment, nonelectrical machinery, tourism
Inflation rate (consumer prices)3.5% (2013 est.)
3.9% (2012 est.)
Labor force637,600 (2013 est.)
Unemployment rate8.3% (2013 est.)
8.1% (2012 est.)
Distribution of family income - Gini index39 (2006 est.)
37 (1987 est.)
Public debt58% of GDP (2013 est.)
57.7% of GDP (2012 est.)
Current account balance-$1.099 billion (2013 est.)
-$1.175 billion (2012 est.)
Reserves of foreign exchange and gold$3.286 billion (31 December 2013 est.)
$3.046 billion (31 December 2012 est.)
GDP (official exchange rate)$11.9 billion (2013 est.)
Stock of direct foreign investment - at homeNA
Stock of direct foreign investment - abroadNA
Market value of publicly traded shares$NA (31 December 2012 est.)
$7.667 billion (31 December 2011)
$7.442 billion (31 December 2010 est.)
Central bank discount rate9% (31 December 2010 est.)
Commercial bank prime lending rateNA% (31 December 2013 est.)
8.67% (31 December 2012 est.)
Stock of domestic credit$13.03 billion (31 December 2013 est.)
$12.87 billion (31 December 2012 est.)
Stock of narrow money$2.475 billion (31 December 2013 est.)
$2.378 billion (31 December 2012 est.)
Stock of broad money$11.73 billion (31 December 2013 est.)
$11.38 billion (31 December 2012 est.)
Taxes and other revenues21.1% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-1.9% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 74.1%
government consumption: 13.2%
investment in fixed capital: 22%
investment in inventories: 1.5%
exports of goods and services: 54.6%
imports of goods and services: -65.4%
(2013 est.)
Gross national saving32% of GDP (2013 est.)
32% of GDP (2012 est.)
31% of GDP (2011 est.)