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Mauritius Trade Deficit widens to record Rs49.7bn amid rise in imports

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Mauritius Trade Deficit widens to record Rs49.7bn amid rise in imports

Trade deficit for the second quarter of 2022 has risen by 24% (Rs 49.7 billion compared to Rs 40.1 billion of the previous quarter).

According to figures just released by Statistics Mauritius, the deficit soared to 72.8% higher than the deficit of Rs 28.8 billion in the corresponding quarter of 2021.

Exports

Total exports proceed for the second quarter of 2022, including domestic exports, re-exports and ship’s stores and bunkers amounted to Rs 25.9 billion, an increase of 19.0% compared to the previous quarter.

This was mainly explained by increases in exports of “Machinery and transport equipment” (+59.9%), “Ships’ stores & bunkers” (+32.6%), “Crude materials, inedible, except fuels” (+24.9%), “Food and live animals” (+18.3%), “Manufactured goods classified chiefly by material” (+12.7%) and “Miscellaneous manufactured articles” (+11.4%), partly offset by a decrease in the exports of “Chemicals and related products, n.e.s.” (-5.1%).

Compared to the corresponding quarter of 2021, total exports for the second quarter of 2022 increased by 33.8%.

Imports

Total imports for the second quarter of 2022 amounted to Rs 75.7 billion, showing an increase of 22.2%, compared to the previous quarter.

This was mainly due to increases in imports of “Mineral fuels, lubricants and related materials” (+57.1%), “Miscellaneous manufactured articles” (+19.7%), “Beverages and tobacco” (+17.3%), “Manufactured goods classified chiefly by material” (+17.0%), “Chemicals and related products” (+16.1%), “Food and live animals” (+10.2%) and “Machinery and transport equipment” (+3.6%).

Compared to the corresponding quarter of 2021, total imports for the second quarter of 2022 increased by 57.1%.

Forecast for year 2022

The forecast of total exports for 2022 will be around Rs 100 billion, 22.0% higher than the total exports of around Rs 82 billion in 2021. 

Total imports for 2022, including one-off items such as machinery for metro terminals and helicopters, will be around Rs 290 billion, 34.9% higher than the total imports of around Rs 215 billion in 2021.

Hence, analysts forecast that trade deficit for 2022 to hit around Rs 190 billion, 42.9% higher as compared to around Rs 133 billion in 2021. 

Source: Statistics Mauritius

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