Mauritius Bracing for Trade Deficit of Rs 210 Billion by 2025

Analysing the nation’s economy, projections indicate that Mauritius will face a staggering trade deficit of Rs 210 billion by 2025. This marks an increase of 2.9% from an already concerning Rs 204 billion in 2024, reflecting a worrying trend of persistently rising import levels.

According to the latest report released by Statistics Mauritius, the total export figures for 2024 stand at Rs 110.3 billion, a growth of 6.2% compared to Rs 103.8 billion in 2023.

However, this glimmer of hope is overshadowed by the grim forecast for imports, which are expected to spiral to around Rs 320 billion in 2025, excluding exceptional elements, representing a 1.9% rise from Rs 314 billion the previous year.

The report’s detailed paint a disheartening picture: the trade deficit for the fourth quarter of 2024 alone soared to Rs 59.6 billion, a staggering increase of 25.4% from the Rs 47.6 billion recorded in the same quarter of 2023.

Alarmingly, this figure also reflects a 16% rise from the previous quarter.

The total export revenue for 2024, while showing a modest increase, is overshadowed by steep increases in certain categories.

The growth is largely attributed to a remarkable 45.7% surge in ‘Ship’s Stores and Bunkers’ as well as a 4.4% jump in ‘Food and Live Animals’.

Yet, this progress is more than offset by substantial declines in other areas, with ‘Manufactured Goods Classified Chiefly by Material’ plummeting by 13.8% and ‘Miscellaneous Manufactured Articles’ shrinking by 7.9%.

Turning to imports, the total reached a staggering Rs 314 billion in 2024, marking a hefty climb of 10.6% from Rs 283.8 billion the year prior.

This alarming rise is most pronounced in the categories of mineral fuels, lubricants, and related products – which surged by 18.8% – alongside chemicals and machinery, which also saw notable increases.

The commercial landscape of Mauritius is bracing for considerable challenges ahead. The figures released signal not only a troubling trajectory for our trade but also underscore the urgent need for strategic interventions to curb this mounting deficit.

As the nation stands on the brink of a critical economic juncture, the implications are profound, demanding immediate attention and action to secure Mauritius’s financial future.

Source: l’Express