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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, 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 and responsible fiscal management, has been well poised to take advantage of the Africa Growth and Opportunity Act (AGOA).
GDP:
purchasing power parity - $13.85 billion (2003 est.)
GDP - real growth rate:
4.1% (2003 est.)
GDP - per capita:
purchasing power parity - $11,400 (2003 est.)
GDP - composition by sector:
agriculture: 6.1%
industry: 30.3%
services: 63.6% (2003 est.)
Investment (gross fixed):
22.9% of GDP (2003)
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):
4.2% (2003 est.)
Labor force:
560,000 (2003)
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:
9.8% (2003 est.)
Budget:
revenues: $1.122 billion
expenditures: $1.461 billion, including capital expenditures of $NA (2003)
Public debt:
31.9% of GDP (2003)
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:
1.311 billion kWh (2001)
Electricity - production by source:
fossil fuel: 90.8%
hydro: 9.2%
other: 0% (2001)
nuclear: 0%
Electricity - consumption:
1.219 billion kWh (2001)
Electricity - exports:
0 kWh (2001)
Electricity - imports:
0 kWh (2001)
Oil - production:
0 bbl/day (2001 est.)
Oil - consumption:
21,000 bbl/day (2001 est.)
Oil - exports:
NA (2001)
Oil - imports:
NA (2001)
Agriculture - products:
sugarcane, tea, corn, potatoes, bananas, pulses; cattle, goats; fish
Current account balance:
$289 million (2003)
Exports:
$1.965 billion f.o.b. (2003 est.)
Exports - commodities:
clothing and textiles, sugar, cut flowers, molasses
Exports - partners:
France 34.3%, UK 24.3%, US 14.4%, Madagascar 4.4% (2003 est.)
Imports:
$2.136 billion f.o.b. (2003 est.)
Imports - commodities:
manufactured goods, capital equipment, foodstuffs, petroleum products, chemicals
Imports - partners:
France 27.6%, South Africa 11.1%, India 6.4%, Germany 4.6%, China 4% (2003 est.)
Reserves of foreign exchange & gold:
$1.598 billion (2003)
Debt - external:
$1.75 billion (2003 est.)
Economic aid - recipient:
$42 million (1997)
Currency:
Mauritian rupee (MUR)
Currency code:
MUR
Exchange rates:
Mauritian rupees per US dollar - 27.9015 (2003), 29.962 (2002), 29.1293 (2001), 26.2496 (2000), 25.1858 (1999)
Fiscal year:
1 July - 30 June
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