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MAURITIUS
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Mauritius Economy
Country Name: Republic of Mauritius
Capital City: Port Louis
Population: 1,240,827 (July 2006)
Population Growth: 0.82% (2006)
Currency: Mauritian rupee (MUR)
Languages: English (official)
Area: 2,040 sq km
Inflation Rate: 8.9% (2006 est.)
Unemployment Rate: 9.4% (2006)
Domain extension: .mu
ECONOMIC DETAILS 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).
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 - real growth rate:
4.9% (2006 est.)
GDP - per capita:
$13,700 (2006 est.)
GDP - by sector (agriculture):
agriculture: 5.1%
GDP - by sector (industry):
industry: 25.2%
GDP - by sector (services):
services: 69.7% (2006 est.)
Export Partners:
UK 30.5%, France 15.2%, UAE 10.5%, US 10.3%, Madagascar 7% (2006)
Import 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)
Export Commodities:
clothing and textiles, sugar, cut flowers, molasses
Import Commodities:
manufactured goods, capital equipment, foodstuffs, petroleum products, chemicals
Exports Volume:
$2.318 billion f.o.b. (2006 est.)
Imports Volume:
$3.391 billion f.o.b. (2006 est.)
Labour Force:
555,000 (2006 est.)
Unemployment Rate:
9.4% (2006 est.)
Population below poverty line:
10% (2001 est.)
Inflation Rate:
8.9% (2006 est.)
Investment (gross fixed):
23.6% of GDP (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 - 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
Natural gas - production:
0 cu m (2004 est.)
Natural gas - consumption:
Natural gas - exports:
Natural gas - imports:
Current Account Balance:
-$651 million (2006 est.)
Currency Code:
Mauritian rupee (MUR)