| 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
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 foreign investment. 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.
Economic performance since 1991 has continued strong with solid growth and
low unemployment. GDP:
purchasing power parity - $12.3 billion (2000 est.)
GDP - real growth rate: 7.5% (2000 est.)
GDP - per capita: purchasing power parity - $10,400 (2000 est.)
GDP - composition by sector:
agriculture: 10%
industry: 29%
services: 61% (1996)
Inflation rate (consumer prices): 5.3% (2000 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: 6.4% (1999 est.)
Budget:
revenues: $1.1 billion
expenditures: $1.2 billion (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: 1.26 billion kWh (1999)
Electricity - production by source:
fossil fuel: 91.27%
hydro: 8.73%
nuclear: 0%
other: 0% (1999)
Electricity - consumption: 1.172 billion kWh (1999)
Agriculture - products: sugarcane, tea, corn, potatoes, bananas, pulses; cattle,
goats; fish
Exports: $1.7 billion (f.o.b., 1999)
Exports - commodities: clothing and textiles, sugar, cut flowers, molasses
Exports - partners: United
Kingdom 32%, France 19%,
United States 15%, Germany 6%, Italy 4% (1999 est.)
Imports: $2.3 billion (f.o.b., 1999)
Imports - commodities: manufactured goods, capital equipment, foodstuffs,
petroleum products, chemicals (1996)
Imports - partners: France 14%, South Africa 11%, India 8%, United
Kingdom 5% (1999 est.)
Debt - external: $1.9 billion (1998 est.)
Economic aid - recipient: $42 million (1997)
Currency: Mauritian rupee (MUR)
SOURCE: The World Factbook |