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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 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 1991-98 continued strong with solid growth and low unemployment.
GDP: purchasing power parity—$11.7 billion (1998 est.)
GDP—real growth rate: 5% (1998 est.)
GDP—per capita: purchasing power parity—$10,000 (1998 est.)
GDP—composition by sector:
agriculture: 8%
industry: 29%
services: 63% (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% (1997)
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: $824 million (FY94/95)
expenditures: $1 billion, including capital expenditures of $198
million (FY95/96 est.)
Industries: food processing (largely sugar milling), textiles, clothing; chemicals, metal products, transport equipment, nonelectrical machinery; tourism
Industrial production growth rate: 5.8% (1992)
Electricity—production: 1.125 billion kWh (1996)
Electricity—production by
source:
fossil fuel: 86.67%
hydro: 13.33%
nuclear: 0%
other: 0% (1996)
Electricity—consumption: 1.125 billion kWh (1996)
Electricity—exports: 0 kWh (1996)
Electricity—imports: 0 kWh (1996)
Agriculture—products: sugarcane, tea, corn, potatoes, bananas, pulses; cattle, goats; fish
Exports: $1.6 billion (f.o.b., 1997)
Exports—commodities: clothing and textiles 55%, sugar 24% (1995)
Exports—partners: UK 34.4%, France 19.5%, US 13.0%, Germany 5.6%, Italy 4.0% (1996)
Imports: $2.3 billion (c.i.f., 1997)
Imports—commodities: manufactured goods 37%, capital equipment 19%, foodstuffs 13%, petroleum products 8%, chemicals 7% (1995)
Imports—partners: South Africa 12.0%, France 11.1%, India 8.9%, UK 6.5%, Germany 4.7%, (1996)
Debt—external: $1.2 billion (1996 est.)
Economic aid—recipient: $5.2 million (1995)
Currency: 1 Mauritian rupee (MauR) = 100 cents
Exchange rates: Mauritian rupees (MauRs) per US$1—24.099 (January 1999), 22.803 (1998), 20.561 (1997), 17.948 (1996), 17.386 (1995), 17.960 (1994)
Fiscal year: 1 July—30 June