Mauritius Economy 2007

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, has been well poised to take advantage of the Africa Growth and Opportunity Act (AGOA).

GDP (purchasing power parity):
$17.02 billion (2006 est.)

GDP (official exchange rate):
$7.182 billion (2006 est.)

GDP - real growth rate:
5% (2006 est.)

GDP - per capita (PPP):
$13,700 (2006 est.)

GDP - composition by sector:
agriculture: 5.2%
industry: 25.2%
services: 69.6% (2006 est.)

Labor force:
541,000 (2006 est.)

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:
9.4% (2006 est.)

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):
8.9% (2006 est.)

Investment (gross fixed):
24% of GDP (2006 est.)

Budget:
revenues: $1.236 billion
expenditures: $1.562 billion; including capital expenditures of $NA (2006 est.)

Public debt:
66.4% of GDP (2006 est.)

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

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

Industrial production growth rate:
8% (2000 est.)

Electricity - production:
2.122 billion kWh (2005)

Electricity - consumption:
1.973 billion kWh (2005)

Electricity - exports:
0 kWh (2005)

Electricity - imports:
0 kWh (2005)

Oil - production:
0 bbl/day (2004 est.)

Oil - consumption:
21,500 bbl/day (2004 est.)

Oil - exports:
NA bbl/day

Oil - imports:
NA bbl/day

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

Natural gas - production:
0 cu m (2005 est.)

Natural gas - consumption:
0 cu m (2005 est.)

Current account balance:
$-618.4 million (2006 est.)

Exports:
$2.339 billion f.o.b. (2006 est.)

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

Exports - partners:
UK 32.5%, France 15.1%, UAE 11.4%, US 8.3%, Madagascar 4.8% (2006)

Imports:
$3.427 billion f.o.b. (2006 est.)

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

Imports - partners:
France 14.3%, India 13.6%, China 8.6%, South Africa 7.3% (2006)

Economic aid - recipient:
$31.93 million (2005)

Reserves of foreign exchange and gold:
$1.301 billion (2006 est.)

Debt - external:
$2.419 billion (2006 est.)

Stock of direct foreign investment - at home:
$NA

Stock of direct foreign investment - abroad:
$NA

Market value of publicly traded shares:
$3.598 billion (2006)

Currency (code):
Mauritian rupee (MUR)

Exchange rates:
Mauritian rupees per US dollar - 31.656 (2006), 29.496 (2005), 27.499 (2004), 27.902 (2003), 29.962 (2002)