Economy - overview: | Since independence in 1968, Mauritius has developed from a low-income, agriculturally based economy to a middle-income diversified economy with growing industrial, financial, and tourist sectors. For most of the period, annual growth has been in the order of 5% to 6%. This remarkable achievement has been reflected in more equitable income distribution, increased life expectancy, lowered infant mortality, and a much-improved infrastructure. Sugarcane is grown on about 90% of the cultivated land area and accounts for 25% of export earnings. The government's development strategy centers on expanding local financial institutions and building a domestic information telecommunications industry. Mauritius has attracted more than 9,000 offshore entities, many aimed at commerce in India and South Africa, and investment in the banking sector alone has reached over $1 billion. Mauritius, with its strong textile sector, has been well poised to take advantage of the Africa Growth and Opportunity Act (AGOA). |
GDP - per capita | $13,300 (2005 est.) |
GDP - real growth rate (%) | 3.8% (2005 est.) |
Agriculture - products | sugarcane, tea, corn, potatoes, bananas, pulses; cattle, goats; fish |
GDP - composition by sector (%) | agriculture: 6.1%, industry: 29.9%, services: 64% (2005 est.) |
Industries | food processing (largely sugar milling), textiles, clothing; chemicals, metal products, transport equipment, nonelectrical machinery; tourism |
Economic aid - recipient | $42 million (1997) |
Debt - external | $2.958 billion (2005 est.) |
Population below poverty line (%) | 10% (2001 est.) |
Labor force - by occupation (%) | agriculture and fishing 14%, construction and industry 36%, transportation and communication 7%, trade, restaurants, hotels 16%, finance 3%, other services 24% (1995) |