The trade deficit for the year 2023 is set to breach the Rs 200 billion mark for the first time, projected to reach around Rs 205 billion, according to Statistics Mauritius. This represents a 9.6% increase compared to the Rs 187 billion deficit in 2022.
Based on trends and information from various reports, the forecasts for the year maintain the previous projections for total exports while revising total import estimates downwards.
Total exports for 2023 are expected to be around Rs 110 billion, marking a 3.8% increase from the Rs 106 billion in exports recorded in 2022. Total imports for 2023, including exceptional items like equipment for metro terminals, are projected to reach approximately Rs 315 billion, signifying a 7.9% increase from the Rs 292 billion imports of 2022.
In the second quarter of the year, the trade deficit stood at Rs 4.4 billion, a decrease of 1.3% compared to the corresponding period in 2022. For the first half of the year as a whole, the trade deficit amounted to Rs 87.7 billion, slightly lower than the deficit recorded in the same period in 2022.
Breaking it down, total exports for the second quarter were valued at Rs 25.1 billion, marking an 8.2% decline compared to the corresponding quarter of 2022.
For the first half of 2023, exports increased by 2.1% compared to 2022. Imports amounted to Rs 72.6 billion, reflecting a 3.8% decrease from the corresponding quarter in 2022.
Total imports for the first half of 2023 increased by 0.6% compared to the corresponding period in 2022.
Source: Le Mauricien
