Based on policy measures and an expected increase in tourist arrivals, the GDP of Mauritius is forecasted to grow by 7.1%, higher than previous estimates.
The main contributors to this growth are expected to be activities such as accommodation and food services, construction, financial and insurance activities, and transportation and storage.
The National Accounts Estimates for December 2023 also provide key assumptions for various sectors.
For example, while sugar production is anticipated to decrease slightly (1.6%), other agriculture is projected to grow by 11.8%.
Manufacturing is expected to have lower growth (1.4%) than the previous year (9.1%), with specific growth projected in food processing and other manufacturing.
Construction is forecasted to have significant growth (28.6%) due to ongoing and upcoming public and private sector projects.
In terms of consumption and saving, final consumption expenditure is projected to grow by 1.8%, while gross domestic savings are expected to increase to 18.0% of GDP at market prices.
In the investment sector, gross fixed capital formation is forecasted to grow by 21.2%, with private sector investment expected to increase by 16.2% and public sector investment expanding by 41.3%.
The investment rate is projected to increase, with the private investment rate reaching 16.8% and the public investment rate reaching 5.0%.
The share of private sector investment in gross fixed capital formation is expected to decrease, while the share of public sector investment is anticipated to increase.
Source: Statistics Mauritius
