Mauritius’ Export Woes: 20.7% Crash Hits Economy Hard

The latest figures on exports have sounded a dire note, with a significant decline recorded for the first three months of the year. The performance of Export-Oriented Enterprises (EOEs) in the first quarter of this year has been marked by a Rs 9.4 billion drop, representing a 20.7% decline compared to the same period in 2023.

The top four markets for Mauritian exporting companies remained unchanged, with South Africa, the United Kingdom, France, and the United States accounting for Rs 5.1 billion (53.9%) of total exports.

While the US market saw a 6.3% increase compared to the same period last year, exports to France, the UK, and South Africa declined by 32.2%, 16.5%, and 11.5%, respectively.

Meanwhile, the latest available figures show that the total employment in EOEs has decreased by 442 (-1.3%) compared to the same period last year, falling from 33,293 to 32,851 in the first quarter of 2024.

This decline is attributed to a contraction in workforce in certain enterprises, with 810 jobs lost, while 368 new opportunities were created through the expansion of other businesses.

The employment of Mauritian nationals decreased by 188 (-1.0%), dropping from 18,548 to 18,360, while that of foreign workers decreased by 254 (-1.7%), falling from 14,745 to 14,491.

A closer look at employment trends in the sector reveals that a total of 2,486 jobs were lost over the past year (between March 2023 and March 2024), representing a decline of 7%.

This contraction was observed among both Mauritian and foreign workers.

Source: Le Mauricien