Mauritius’ Trade Deficit Surges by 17.9% in One Year

Mauritius is facing a significant increase in its trade deficit, which rose to Rs 17.4 billion in July 2024, marking a 17.9% increase compared to July 2023. This figure also represents a 6% month-on-month increase from Rs 16.4 billion recorded in June 2024.

The country’s imports totaled Rs 27.5 billion in July 2024, compared to Rs 23.6 billion in July 2023, and Rs 26.8 billion in June 2024. This indicates an increase of 2.8% from the previous month and 16.5% compared to the same month last year.

On the other hand, the total value of exports in July 2024 stood at Rs 10.1 billion, showing a slight decline from Rs 10.3 billion in June 2024; however, it marked a significant rise from Rs 8.8 billion recorded in July 2023.

Domestic exports reached Rs 5.4 billion in July 2024, an increase from Rs 5.1 billion in June 2024 and Rs 4.9 billion in July 2023. Conversely, re-exports fell from Rs 2.1 billion in July 2023 to Rs 1.7 billion in July 2024.

Imports of machinery and transport equipment surged, reaching Rs 6.1 billion in July 2024, compared to Rs 5.4 billion in June 2024.

Mineral fuels, lubricants, and related materials also saw an increase, although the value imported was lower than in July 2023.

Imports of food and live animals rose to Rs 5.8 billion, up from Rs 4.2 billion in June 2024.

However, imports of beverages and tobacco products dropped to Rs 456 million in July 2024, down from Rs 769 million in June 2024.

In terms of export destinations, the United States emerged as the leading market for Mauritian exports in July 2024, with a value of Rs 873 million, significantly up from Rs 619 million in June 2024 and Rs 662 million in July 2023.

Exports to Madagascar and Spain also increased, while exports to South Africa declined to Rs 774 million in July 2024, down from Rs 930 million in June 2024.

The overall export value reached Rs 7.2 billion in July 2024, a slight increase from Rs 7.1 billion in June 2024.

Regarding imports, China remains Mauritius’ largest supplier, accounting for Rs 4.6 billion in July 2024, followed by India at Rs 3.8 billion.

Notably, imports from South Africa decreased from Rs 2.4 billion in June 2024 to Rs 1.9 billion in July 2024.

In contrast, imports from Brazil soared from Rs 84 million in June 2023 to Rs 1.7 billion in July 2024, while imports from Australia rose to Rs 1.1 billion in July 2024, recovering after a decline in June 2024.

The main export destinations for Mauritius in July 2024 were the United States, Madagascar, South Africa, the United Kingdom, France, and Spain.

The United States accounted for 12% of the exports, while China provided 16.9% of the imports, followed closely by India at 14.1%.

Source: l’Express