Mauritian GDP expected to grow by 3.5%
GDP growth is expected to be 3.5% for Mauritius according to figures revealed by the Statistics Mauritius yesterday. This means that the GDP will be lower than the 3.7% growth forecasted in December 2012, mostly due to a deeper contraction of -6.9% in “Construction” instead of -2.0% as forecasted earlier, explained by delays expected in the implementation of road decongestion projects. The CSO based its forecast on the assumption that the manufacturing sector will expand by 2%, higher than the 1.5% growth in 2012. ‘Food processsing’ will grow by 2.2% in spite of a new fish processing plant due to start its operation during the first semester of 2013. Textile manufacturing will also grow by 2.0% assuming a recovery in the main markets and more activities resulting from diversification towards the region.
Activities of Export Oriented Enterprises (EOE) are expected to grow by 2.6%, higher than the 1.5% growth registered in 2012. Investment would grow by 0.4% in 2013 after contracting by -1.3% in 2012. Exclusive of investment in aircraft and marine vessels, the growth rate would decline further by -2.6% in 2013 compared to -1.3% in 2012.
Private sector investment is expected to grow by 1.9% in 2013 after a decline of -2.5% in 2012. The positive growth would be mainly due to investment in marine vessels and a new fish processing plant. Excluding aircraft and marine vessels, private investment would drop by -1.3% in 2013 compared to -2.5% in 2012.
Public sector investment would contract by -4.3% after the 2.7% growth in 2012, mostly explained by completion of major projects such as airport extension and prison coupled with delays expected in some major road decongestion projects. Excluding aircraft and marine vessels, investment in public sector would decline by -6.7% in 2013 compared to a growth of 2.7% in 2012.
Investment rate defined as the ratio of investment to GDP at market prices would decrease to 22.2% from 23.0% in 2012. Exclusive of aircraft and marine vessels, the investment rate would be 21.6%.
Private sector investment rate would reach 17.1% and public sector 5.1% in 2013 compared to 17.5% and 5.5% respectively in 2012. Exclusive of aircraft and marine vessels, investment rate of private and public would be 16.6% and 5.0% respectively in 2013.
The share of the private sector in total investment would increase to 77.1% from 76.0% in 2012 and that of the public sector would decrease to 22.9% from 24.0% in 2012. Exclusive of aircraft and marine vessels the share of private sector would reach 77.0% and public sector 23.0%.
Source: Statistics Mauritius