Mauritius Economy - 2024

Economic overview

upper middle-income Indian Ocean island economy; diversified portfolio; investing in maritime security; strong tourism sector decimated by COVID-19; expanding in information and financial services; environmentally fragile

Real GDP (purchasing power parity)

$26.547 billion (2021 est.)
$25.599 billion (2020 est.)
$29.974 billion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

3.7% (2021 est.)
-14.6% (2020 est.)
2.89% (2019 est.)

Real GDP per capita

$21,000 (2021 est.)
$20,200 (2020 est.)
$23,700 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$14.004 billion (2019 est.)

Inflation rate (consumer prices)

4.03% (2021 est.)
2.58% (2020 est.)
0.41% (2019 est.)

Credit ratings

Moody's rating: Baa1 (2012)

note: The year refers to the year in which the current credit rating was first obtained.

GDP - composition, by sector of origin

agriculture: 4% (2017 est.)

industry: 21.8% (2017 est.)

services: 74.1% (2017 est.)

GDP - composition, by end use

household consumption: 81% (2017 est.)

government consumption: 15.1% (2017 est.)

investment in fixed capital: 17.3% (2017 est.)

investment in inventories: -0.4% (2017 est.)

exports of goods and services: 42.1% (2017 est.)

imports of goods and services: -55.1% (2017 est.)

Agricultural products

sugar cane, poultry, pumpkins, gourds, potatoes, eggs, tomatoes, pineapples, bananas, fruit

Industries

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

Industrial production growth rate

20.88% (2021 est.)

Labor force

597,900 (2021 est.)

Unemployment rate

7.41% (2021 est.)
7.41% (2020 est.)
6.33% (2019 est.)

Youth unemployment rate (ages 15-24)

total: 25.3% (2021 est.)

male: 19.7%

female: 32.9%

Population below poverty line

10.3% (2017 est.)

Gini Index coefficient - distribution of family income

36.8 (2017 est.)

Household income or consumption by percentage share

lowest 10%: NA

highest 10%: NA

Remittances

2.36% of GDP (2021 est.)
2.5% of GDP (2020 est.)
2.21% of GDP (2019 est.)

Budget

revenues: $2.461 billion (2020 est.)

expenditures: $3.675 billion (2020 est.)

Budget surplus (+) or deficit (-)

-0.3% (of GDP) (2017 est.)

Public debt

57.96% of GDP (2019 est.)
55.38% of GDP (2018 est.)
56.16% of GDP (2017 est.)

Taxes and other revenues

20.72% (of GDP) (2020 est.)

Fiscal year

1 July - 30 June

Current account balance

-$1.527 billion (2021 est.)
-$1.003 billion (2020 est.)
-$718.495 million (2019 est.)

Exports

$3.198 billion (2021 est.) note: data are in current year dollars
$3.088 billion (2020 est.) note: data are in current year dollars
$5.258 billion (2019 est.)

Exports - partners

France 10%, South Africa 10%, United States 10%, United Kingdom 8%, Zambia 7%, Madagascar 6% (2019)

Exports - commodities

clothing and apparel, skipjack and tuna, raw sugar, fertilizers, diamonds (2021)

Imports

$6.082 billion (2021 est.) note: data are in current year dollars
$5.222 billion (2020 est.) note: data are in current year dollars
$7.365 billion (2019 est.)

Imports - partners

China 15%, India 13%, France 10%, South Africa 8%, United Arab Emirates 7% (2019)

Imports - commodities

refined petroleum, cars, fish products, aircraft, packaged medicines (2019)

Reserves of foreign exchange and gold

$8.563 billion (31 December 2021 est.)
$7.291 billion (31 December 2020 est.)
$7.362 billion (31 December 2019 est.)

Debt - external

$226.799 billion (2019 est.)
$232.17 billion (2018 est.)

Exchange rates

Mauritian rupees (MUR) per US dollar -

Exchange rates:
41.692 (2021 est.)
39.347 (2020 est.)
35.474 (2019 est.)
33.934 (2018 est.)
34.481 (2017 est.)