Big Bucks: Trade deficit soars to Rs 17.2 billion

The trade deficit in Mauritius reached Rs 17.2 billion in November, showing a 1.8% increase compared to November 2022.

This was mainly due to a decrease in total exports, which amounted to Rs 7.4 billion, compared to Rs 8.9 billion in the same month last year.

Imports, on the other hand, recorded a 4.5% decline, totaling Rs 24.6 billion.

The overall value of trade for November 2023 decreased to Rs 32.1 billion from Rs 34.8 billion in November 2022.

The decrease in exports is attributed to declines in food and live animal exports and miscellaneous manufactured articles.

The decrease in imports is driven by declines in food and live animal imports, beverages and tobacco, and manufactured goods classified chiefly by material, although there was an increase in petroleum product imports.

The main export destinations for Mauritius in November 2023 were France, South Africa, the United Kingdom, Spain, Madagascar, and the United States.

The main import sources were India, China, South Africa, France, the United Arab Emirates, and Congo.

It is projected that the trade deficit for 2023 will exceed Rs 200 billion for the first time, with an estimated value of around Rs 205 billion.

Source: Le Mauricien