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 of the order of 5% to 6%. This remarkable achievement has been reflected in 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. A record-setting drought severely damaged the sugar crop in 1999, however. The government's development strategy centers on foreign investment. 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. Economic performance in 1991-99 continued strong with solid growth and low unemployment.

GDP: purchasing power parity - $12.3 billion (1999 est.)

GDP - real growth rate: 4% (1999 est.)

GDP - per capita: purchasing power parity - $10,400 (1999 est.)

GDP - composition by sector:
agriculture: 10%
industry: 29%
services: 61% (1996)

Population below poverty line: 10.6% (1992 est.)

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

Inflation rate (consumer prices): 6.8% (1999)

Labor force: 514,000 (1995)

Labor force - by occupation: construction and industry 36%, services 24%, agriculture and fishing 14%, trade, restaurants, hotels 16%, transportation and communication 7%, finance 3% (1995)

Unemployment rate: 2% (1996 est.)

Budget:
revenues: $1.1 billion
expenditures: $1.2 billion, including capital expenditures of $NA (1999 est.)

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

Industrial production growth rate: 3.5% (1999 est.)

Electricity - production: 1.225 billion kWh (1998)

Electricity - production by source:
fossil fuel: 91.84%
hydro: 8.16%
nuclear: 0%
other: 0% (1998)

Electricity - consumption: 1.139 billion kWh (1998)

Electricity - exports: 0 kWh (1998)

Electricity - imports: 0 kWh (1998)

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

Exports: $1.7 billion (f.o.b., 1999)

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

Exports - partners: UK 32%, France 19%, US 14%, Germany 6%, Italy 4% (1997)

Imports: $2.1 billion (f.o.b., 1998)

Imports - commodities: manufactured goods, capital equipment, foodstuffs, petroleum products, chemicals (1996)

Imports - partners: France 19%, South Africa 12%, India 9%, Hong Kong 7%, UK 6% (1997)

Debt - external: $1.9 billion (1998 est.)

Economic aid - recipient: $42 million (1997)

Currency: 1 Mauritian rupee (MauR?) = 100 cents

Exchange rates: Mauritian rupees (MauRs?) per US$1 - 25.485 (January 2000), 25.186 (1999), 22.993 (1998), 21.057 (1997), 17.948 (1996), 17.386 (1995)

Fiscal year: 1 July - 30 June