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

NOTE: The information regarding Mauritius on this page is re-published from the 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Mauritius Economy 1998 information contained here. All suggestions for corrections of any errors about Mauritius Economy 1998 should be addressed to the CIA.