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The Economy of Mauritius

Mauritian Economy

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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).

GDP:

GDP - real growth rate: 5.2% (2008 est.) 5.4% (2007 est.) 5.1% (2006 est.)

GDP - per capita:

GDP - composition by sector: agriculture: 4.5% industry: 24.9% services: 70.6% (2008 est.)

Population below poverty line:

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

Distribution of family income - Gini index: 39 (2006 est.)

Inflation rate (consumer prices):

Labor force: 584,000 (2008 est.)

Labor force - by occupation: agriculture and fishing 9%, construction and industry 30%, transportation and communication 7%, trade, restaurants, hotels 22%, finance 6%, other services 25% (2007)

Unemployment rate: 7.6% (2008 est.)

Budget: revenues: $1.866 billion expenditures: $2.243 billion; including capital expenditures of $NA (2008 est.)

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

Industrial production growth rate: 4.5% (2008 est.)

Electricity - production: 2.321 billion kWh (2007 est.)

Electricity - production by source:

Electricity - consumption: 2.058 billion kWh (2006 est.)

Electricity - exports: 0 kWh (2007 est.)

Electricity - imports: 0 kWh (2007 est.)

Oil - production: 0 bbl/day (2007 est.)

Oil - consumption: 22,450 bbl/day (2006 est.)

Oil - exports: 0 bbl/day (2006)

Oil - imports: 23,650 bbl/day (2006)

Oil - proved reserves: 0 bbl (1 January 2006 est.)

Natural gas - production: 0 cu m (2007 est.)

Natural gas - consumption: 0 cu m (2007 est.)

Natural gas - exports: 0 cu m (2007 est.)

Natural gas - imports: 0 cu m (2007 est.)

Natural gas - proved reserves: 0 cu m (1 January 2006 est.)

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

Exports: $2.36 billion f.o.b. (2008 est.)

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

Exports - partners: UK 35.1%, France 14.4%, US 7.7%, Madagascar 6.3%, Italy 5.8% (2007)

Imports: $4.503 billion f.o.b. (2008 est.)

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

Imports - partners: India 21.2%, China 11.4%, France 10.7%, South Africa 7.4% (2007)

Debt - external: $2.55 billion (31 December 2008 est.)

Economic aid - recipient:

Currency:

Currency code:

Exchange rates: Mauritian rupees (MUR) per US dollar - 27.973 (2008 est.), 31.798 (2007), 31.656 (2006), 29.496 (2005), 27.499 (2004)

Fiscal year: