Higher re-exports of telecom equipment to UAE boost Mauritius’ external trade
Mauritius’ first quarter exports inched up 14.1% upon increase in re-exports of telecom equipment to the UAE from Rs 600 million to Rs 3995 million. (Image: etcinternational.com)
Total export proceeds for Mauritius in the first quarter of 2015 are valued at Rs 23,349 million, showing an increase of 14.1% compared to the corresponding quarter of 2014.
This increase is mainly explained by a rise in the re-exports of “Telecommunication equipment & accessories” from Rs 600 million in the first quarter of 2014 to Rs 3,995 million in the first quarter of 2015.
Compared to the previous quarter, total exports for the first quarter of 2015 dropped by 5.7%, mainly as a result of a decrease of 6.8% in exports of EOE with decreases in “Articles of wearing apparel and clothing accessories” by 13.4%, which was partly offset by increases in exports of “Machinery and transport equipment” and “Cane sugar.”
The first quarter exports mainly consisted of exports of ‘Articles of apparel and clothing accessories’ at Rs 5,590 million, ‘Fish and fish preparations’ at Rs 3,233 million, `Live Primates ‘ at Rs 2,124 million and `Cane sugar’ at Rs 1,828 million.
Exports of Export Oriented Enterprises (EOE) for the first quarter of 2015 amounted to Rs 10,818 million, showing a decrease of 1.4% over the corresponding period of 2014.
Exports towards Mauritius’ main buyers declined for France by 15.7%, Madagascar by 11.3%, United Kingdom by 10.9% and South Africa and USA declined by 10.8% and 10.5% each respectively.
On the imports side, a 9.3% increase to Rs 38,930 million was recorded from Rs 35,620 million in the corresponding quarter of 2014.
Compared to the previous quarter, imports rose by 20.4%, mainly due to rise in imports of “Miscellaneous manufactured articles” by 41.7%, “Crude materials, inedible, except fuels” by 24.7%, “Machinery & transport equipment” by 21.1%, “Food and live animals” by 19.8% and “Refined petroleum products” by 17.8%.
Imports from Mauritius’ main suppliers dropped by 31.8% for India, France by 23.5%, South Africa by 19.2% and China by 17.7%.
The trade deficit for the first quarter of 2015 worked out to Rs 15,581 million, 2.8% higher than the deficit of Rs 15,153 million for the corresponding period of 2014. Compared to the previous quarter, the deficit was down by 35.5%.
Finally, based on recent past trends and indicative information from various sources, total exports for the year 2015 are forecast at Rs 106,000 million, against Rs 185,000 million for imports, leading to a trade deficit of around Rs 79,000 million.