Mauritius Economy - 2004

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

GDP:
purchasing power parity - $13.85 billion (2003 est.)

GDP - real growth rate:
4.1% (2003 est.)

GDP - per capita:
purchasing power parity - $11,400 (2003 est.)

GDP - composition by sector:
agriculture: 6%
industry: 33%
services: 61% (1999 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):
6.4% (2002 est.)

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:
8.8% (2002 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:
8% (2000 est.)

Electricity - production:
1.311 billion kWh (2001)

Electricity - production by source:
fossil fuel: 90.8%
hydro: 9.2%
other: 0% (2001)
nuclear: 0%

Electricity - consumption:
1.219 billion kWh (2001)

Electricity - exports:
0 kWh (2001)

Electricity - imports:
0 kWh (2001)

Oil - production:
0 bbl/day (2001 est.)

Oil - consumption:
21,000 bbl/day (2001 est.)

Oil - exports:
NA

Oil - imports:
NA

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

Exports:
$1.965 billion f.o.b. (2003 est.)

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

Exports - partners:
UK 30.5%, France 20.3%, US 20.2%, Madagascar 4% (2002)

Imports:
$2.136 billion f.o.b. (2003 est.)

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

Imports - partners:
South Africa 12.6%, France 11%, China 8.5%, India 7.3%, Australia 4% (2002)

Debt - external:
$2.4 billion (2002 est.)

Economic aid - recipient:
$42 million (1997)

Currency:
Mauritian rupee (MUR)

Currency code:
MUR

Exchange rates:
Mauritian rupees per US dollar - 27.9 (2003), 29.96 (2002), 29.13 (2001), 26.25 (2000), 25.19 (1999)