Economy of Mauritius
| 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 billion (2006 est.) |
| GDP (official exchange rate): | $7.175 billion (2006 est.) |
| GDP - real growth rate: | 4.9% (2006 est.) |
| GDP - per capita (PPP): | $13,700 (2006 est.) |
| GDP - composition by sector: | agriculture: 5.1% industry: 25.2% services: 69.7% (2006 est.) |
| Labor force: | 555,000 (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): | 23.6% of GDP (2006 est.) |
| Budget: | revenues: $1.475 billion expenditures: $1.854 billion; including capital expenditures of $NA (2006 est.) |
| Public debt: | 57.9% 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: | 2.107 billion kWh (2004) |
| Electricity - production by source: | fossil fuel: 90.8% hydro: 9.2% nuclear: 0% other: 0% (2001) |
| Electricity - consumption: | 1.96 billion kWh (2004) |
| Electricity - exports: | 0 kWh (2004) |
| Electricity - imports: | 0 kWh (2004) |
| 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 |
| Natural gas - production: | 0 cu m (2004 est.) |
| Natural gas - consumption: | 0 cu m (2004 est.) |
| Current account balance: | -$651 million (2006 est.) |
| Exports: | $2.318 billion f.o.b. (2006 est.) |
| Exports - commodities: | clothing and textiles, sugar, cut flowers, molasses |
| Exports - partners: | UK 30.5%, France 15.2%, UAE 10.5%, US 10.3%, Madagascar 7% (2006) |
| Imports: | $3.391 billion f.o.b. (2006 est.) |
| Imports - commodities: | manufactured goods, capital equipment, foodstuffs, petroleum products, chemicals |
| Imports - partners: | France 15.5%, South Africa 8.6%, India 7.4%, China 5.9%, Bahrain 5.6%, Saudi Arabia 4.2%, UAE 4.2%, Germany 4.1% (2006) |
| Reserves of foreign exchange and gold: | $1.358 billion (2006 est.) |
| Debt - external: | $2.834 billion (2006 est.) |
| Economic aid - recipient: | $42 million (1997) |
| Currency (code): | Mauritian rupee (MUR) |
| Currency code: | MUR |
| Exchange rates: | Mauritian rupees per US dollar - 31.656 (2006), 29.496 (2005), 27.499 (2004), 27.902 (2003), 29.962 (2002) |
| Fiscal year: | 1 July - 30 June |