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Mauritian Trade Deficit Worsens as Import Bill Rises by 9.1%



Mauritian Trade Deficit Worsens as Import Bill Rises by 9.1%

The import bill rose to Rs 26 billion, while exports registered a decline of 6.3% to reach Rs 8.8 billion.

The trade deficit, which is the difference between the value of imports and exports, has continued to deteriorate.

In March 2024, the deficit stood at Rs 17.2 billion, a significant increase of 19.1% from the same period last year.

The total value of trade transactions in March 2024 was Rs 34.8 billion, up from Rs 33.2 billion in March 2023.

The country’s exports have declined by 6.3% compared to March 2023, with a total value of Rs 8.8 billion.

The textile products sector was the hardest hit, with exports falling from Rs 1.2 billion to Rs 714 million.

The manufactured goods sector (Miscellaneous) also experienced a decline, with exports falling from Rs 2.4 billion to Rs 2 billion.

On the other hand, imports have increased by 9.1% to reach Rs 26 billion. The main contributors to this increase were imports of food and live animals, which rose from Rs 3.9 billion to Rs 4.6 billion, and imports of machinery and equipment, which increased from Rs 4.3 billion to Rs 6.6 billion.

The country’s main trading partners are China, India, and the United Arab Emirates, with imports from these countries accounting for the majority of the total import bill.

In terms of export destinations, Madagascar emerged as the largest market for Mauritius’ exports in March 2024, with a value of Rs 738 million.

France, South Africa, and the United Kingdom were the next largest markets, with exports valued at Rs 717 million, Rs 710 million, and Rs 552 million respectively.

The data highlights the challenges faced by Mauritius in maintaining a balanced trade balance.

The country’s reliance on imports is a major concern, and efforts need to be made to boost exports and reduce the trade deficit.

Source: Le Mauricien

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