|
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 services 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. The government's development strategy centers on industrialization (with a view to modernization and to exports) agricultural diversification and tourism. Economic performance in 1991-97 continued strong with solid growth and low unemployment. GDP: purchasing power parity—$11.7 billion (1996 est.) GDP—real growth rate: 5.4% (1996 est.) GDP—per capita: purchasing power parity—$10 300 (1996 est.) GDP—composition by sector: agriculture: 8% industry: 29% services: 63% (1996) Inflation rate—consumer price index: 6.5% (1996) Labor force: total: 514 000 (1995) 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: 1.8% (1995) Budget: revenues: $822 million (FY 94/95) expenditures: $1 billion including capital expenditures of $198 million (FY95/96 est.) Industries: food processing (largely sugar milling) textiles wearing apparel; chemicals metal products transport equipment nonelectrical machinery; tourism Industrial production growth rate: 5.8% (1992) Electricity—capacity: 361 000 kW (1995) Electricity—production: 960 million kWh (1995) Electricity—consumption per capita: 852 kWh (1995) Agriculture—products: sugarcane tea corn potatoes bananas pulses; cattle goats; fish Exports: total value: $1.6 billion (f.o.b. 1996 est.) commodities: clothing and textiles 55% sugar 24% (1995) partners: UK 34% France 21% US 15% Germany 6% Italy 4% (1995) Imports: total value: $2.2 billion (c.i.f. 1996 est.) commodities: manufactured goods 37% capital equipment 19% foodstuffs 13% petroleum products 8% chemicals 7% (1995) partners: France 20% India 8% Hong Kong 7% UK 6% Germany 5% (1995) Debt—external: $1.2 billion (1996 est.) Economic aid: recipient: ODA $NA Currency: 1 Mauritian rupee (MauR) = 100 cents Exchange rates: Mauritian rupees (MauRs) per US$1—22.220 (January 1998) 20.561 (1997) 17.948 (1996) 17.386 (1995) 17.960 (1994) 17.648 (1993) Fiscal year: 1 July—30 June
|