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Mauritius trade deficit widens, up by 11.2% in one month

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Mauritius trade deficit widens, up by 11.2% in one month

The trade deficit continues to widen and is expected to cross the Rs 190 billion mark this year. Latest figures of Statistics Mauritius have revealed an increase of 11.2 % in August 2022 compared to the previous month and by 61.8 % compared to the corresponding month of 2021.

In August 2022, total imports increased by 5.3 % compared to July 2022 and by 45.6 % compared to August 2021. The trade deficit for August stands at Rs 16.8 billion.

In August 2022, total exports (Rs 7 billion) decreased by 4.5% compared to July 2022 (Rs 8.6 billion) and increased by 21.9 % from Rs17.5billion in August 2021 to Rs25.5 billion) in August 2022.

Food and live animals imports went up to Rs 5.6 billion (compared to Rs 2.5 billion in 2021). Import of oil and petroleum products jumped to Rs 4.7 billion in August (compared to Rs 3.8 billion in August 2021). Exports, on the other hand, totalled only Rs 8.6 billion in August.

The main export markets were South Africa (Rs 1 billion), Madagascar (Rs 861 million), the US (Rs 600 million) and the UK (Rs 551 million).

Last August, our main imports were from China (Rs 3.9 billion), followed by the United Arab Emirates (Rs 2.5 billion), India (Rs 2.2 billion) and Oman (Rs 1.9 billion).

Statistics Mauritius forecasts exports of Rs 100 billion for the year, 22% higher than exports of Rs 82 billion in 2021.

Total imports for 2022 will be around Rs 290 billion, 34.9% higher than the Rs 215 billion recorded in 2021. The trade deficit for 2022 is thus expected to be around Rs 190 billion, 42.9% higher than the Rs 133 billion recorded in 2021.

Source: Statistics Mauritius

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The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.