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Mauritius Economy 2019

SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES











Mauritius Economy 2019
SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 08, 2019

Economy - overview:
Since independence in 1968, Mauritius has undergone a remarkable economic transformation from a low-income, agriculturally-based economy to a diversified, upper middle-income economy with growing industrial, financial, and tourist sectors. Mauritius has achieved steady 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 currently depends on sugar, tourism, textiles and apparel, and financial services, but is expanding into fish processing, information and communications technology, education, and hospitality and property development. Sugarcane is grown on about 90% of the cultivated land area but sugar makes up only around 3-4% of national GDP. Authorities plan to emphasize services and innovation in the coming years. After several years of slow growth, government policies now seek to stimulate economic growth in five areas: serving as a gateway for international investment into Africa; increasing the use of renewable energy; developing smart cities; growing the ocean economy; and upgrading and modernizing infrastructure, including public transportation, the port, and the airport.

Mauritius has attracted more than 32,000 offshore entities, many aimed at commerce in India, South Africa, and China. The Mauritius International Financial Center is under scrutiny by international bodies promoting fair tax competition and Mauritius has been cooperating with the European Union and the United states in the automatic exchange of account information. Mauritius is also a member of the OECD/G20’s Inclusive Framework on Base Erosion and Profit Shifting and is under pressure to review its Double Taxation Avoidance Agreements. The offshore sector is vulnerable to changes in the tax framework and authorities have been working on a Financial Services Sector Blueprint to enable Mauritius to transition to a jurisdiction of higher value added. Mauritius’ textile sector has taken advantage of the Africa Growth and Opportunity Act, a preferential trade program that allows duty free access to the US market, with Mauritian exports to the US growing by 35.6 % from 2000 to 2014. However, lack of local labor as well as rising labor costs eroding the competitiveness of textile firms in Mauritius.

Mauritius' sound economic policies and prudent banking practices helped mitigate negative effects of the global financial crisis in 2008-09. GDP grew in the 3-4% per year range in 2010-17, and the country continues to expand its trade and investment outreach around the globe. Growth in the US and Europe fostered goods and services exports, including tourism, while lower oil prices kept inflation low. Mauritius continues to rank as one of the most business-friendly environments on the continent and passed a Business Facilitation Act to improve competitiveness and long-term growth prospects. A new National Economic Development Board was set up in 2017-2018 to spearhead efforts to promote exports and attract inward investment.

GDP (purchasing power parity):
$28.27 billion (2017 est.)
$27.23 billion (2016 est.)
$26.23 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 137
[see also: GDP country ranks ]

GDP (official exchange rate):
$13.33 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.8% (2017 est.)
3.8% (2016 est.)
3.6% (2015 est.)
country comparison to the world: 88
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$22,300 (2017 est.)
$21,500 (2016 est.)
$20,800 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 86
[see also: GDP - per capita country ranks ]

Gross national saving:
16.9% of GDP (2017 est.)
15.8% of GDP (2016 est.)
15.2% of GDP (2015 est.)
country comparison to the world: 122
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 81% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 15.1% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 17.3% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.4% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 42.1% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -55.1% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 4% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 21.8% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 74.1% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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:
3.2% (2017 est.)
country comparison to the world: 98
[see also: Industrial production growth rate country ranks ]

Labor force:
633,900 (2017 est.)
country comparison to the world: 153
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 8%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 29.8%
[see also: Labor force - by occupation - industry country ranks ]
services: 62.2% (2014 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
7.1% (2017 est.)
7.3% (2016 est.)
country comparison to the world: 111
[see also: Unemployment rate country ranks ]

Population below poverty line:
8% (2006 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
35.9 (2012 est.)
39 (2006 est.)
country comparison to the world: 92
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 2.994 billion (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 3.038 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
22.5% (of GDP) (2017 est.)
country comparison to the world: 133
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-0.3% (of GDP) (2017 est.)
country comparison to the world: 54
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
64% of GDP (2017 est.)
66.1% of GDP (2016 est.)
country comparison to the world: 60
[see also: Public debt country ranks ]

Fiscal year:
1 July - 30 June

Inflation rate (consumer prices):
3.7% (2017 est.)
1% (2016 est.)
country comparison to the world: 148
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
9% (31 December 2010)
country comparison to the world: 33
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
8.5% (31 December 2017 est.)
8.5% (31 December 2016 est.)
country comparison to the world: 98
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$3.335 billion (31 December 2017 est.)
$2.833 billion (31 December 2016 est.)
country comparison to the world: 120
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$3.335 billion (31 December 2017 est.)
$2.833 billion (31 December 2016 est.)
country comparison to the world: 125
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$17.16 billion (31 December 2017 est.)
$13.7 billion (31 December 2016 est.)
country comparison to the world: 95
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$7.239 billion (31 December 2015 est.)
$8.751 billion (31 December 2014 est.)
$8.942 billion (31 December 2013 est.)
country comparison to the world: 78
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$875 million (2017 est.)
-$531 million (2016 est.)
country comparison to the world: 136
[see also: Current account balance country ranks ]

Exports:
$2.36 billion (2017 est.)
$2.359 billion (2016 est.)
country comparison to the world: 136
[see also: Exports country ranks ]

Exports - partners:
France 16.7%, US 12.5%, UK 12%, South Africa 9%, Madagascar 6.7%, Italy 6.6%, Spain 5.2% (2017)

Exports - commodities:
clothing and textiles, sugar, cut flowers, molasses, fish, primates (for research)

Imports:
$4.986 billion (2017 est.)
$4.406 billion (2016 est.)
country comparison to the world: 130
[see also: Imports country ranks ]

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

Imports - partners:
India 17.9%, China 15.7%, France 11.1%, South Africa 9.7% (2017)

Reserves of foreign exchange and gold:
$5.984 billion (31 December 2017 est.)
$4.967 billion (31 December 2016 est.)
country comparison to the world: 92
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$19.99 billion (31 December 2017 est.)
$14.34 billion (31 December 2016 est.)
country comparison to the world: 92
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
NA
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
NA
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Mauritian rupees (MUR) per US dollar -
35.17 (2017 est.)
35.542 (2016 est.)
35.542 (2015 est.)
35.057 (2014 est.)
30.622 (2013 est.)


NOTE: 1) The information regarding Mauritius on this page is re-published from the 2019 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Mauritius Economy 2019 information contained here. All suggestions for corrections of any errors about Mauritius Economy 2019 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






This page was last modified 08-Feb-19
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