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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 services, and tourist sectors. For most of the period, annual growth has been of the order of 5% to 6%. This remarkable achievement has been reflected in 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 industrialization (with a view to modernization and to exports), agricultural diversification, and tourism. Economic performance in 1991-98 continued strong with solid growth and low unemployment.

    GDP: purchasing power parity—$11.7 billion (1998 est.)

    GDP—real growth rate: 5% (1998 est.)

    GDP—per capita: purchasing power parity—$10,000 (1998 est.)

    GDP—composition by sector:
    agriculture: 8%
    industry: 29%
    services: 63% (1996)

    Population below poverty line: 10.6% (1992 est.)

    Household income or consumption by percentage share:
    lowest 10%: NA%
    highest 10%: NA%

    Inflation rate (consumer prices): 6.8% (1997)

    Labor force: 514,000 (1995)

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

    Unemployment rate: 2% (1996 est.)

    Budget:
    revenues: $824 million (FY94/95)
    expenditures: $1 billion, including capital expenditures of $198 million (FY95/96 est.)

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

    Industrial production growth rate: 5.8% (1992)

    Electricity—production: 1.125 billion kWh (1996)

    Electricity—production by source:
    fossil fuel: 86.67%
    hydro: 13.33%
    nuclear: 0%
    other: 0% (1996)

    Electricity—consumption: 1.125 billion kWh (1996)

    Electricity—exports: 0 kWh (1996)

    Electricity—imports: 0 kWh (1996)

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

    Exports: $1.6 billion (f.o.b., 1997)

    Exports—commodities: clothing and textiles 55%, sugar 24% (1995)

    Exports—partners: UK 34.4%, France 19.5%, US 13.0%, Germany 5.6%, Italy 4.0% (1996)

    Imports: $2.3 billion (c.i.f., 1997)

    Imports—commodities: manufactured goods 37%, capital equipment 19%, foodstuffs 13%, petroleum products 8%, chemicals 7% (1995)

    Imports—partners: South Africa 12.0%, France 11.1%, India 8.9%, UK 6.5%, Germany 4.7%, (1996)

    Debt—external: $1.2 billion (1996 est.)

    Economic aid—recipient: $5.2 million (1995)

    Currency: 1 Mauritian rupee (MauR) = 100 cents

    Exchange rates: Mauritian rupees (MauRs) per US$1—24.099 (January 1999), 22.803 (1998), 20.561 (1997), 17.948 (1996), 17.386 (1995), 17.960 (1994)

    Fiscal year: 1 July—30 June

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Revised 1-Mar-99
Copyright © 1999 Photius Coutsoukis (all rights reserved)