Mauritius Aug trade deficit down 21% year on year
Mauritius trade deficit came down by 20.7 percent in August from a year ago to Rs 6.07 billion ($199.67 million), as revenue from food and live animals contributed to a higher value of exports, data from Statistics Mauritius showed on Monday. (Image: http://www.harelmallac-export.com)
Mauritius trade deficit came down by 20.7 percent in August from a year ago to Rs 6.07 billion ($199.67 million), data from Statistics Mauritius showed on Monday. However, the gap between exports and imports was higher by 15.9% compared to July.
The trade deficit for the month of August narrowed on a year-on-year basis as revenue from food and live animals contributed to a higher value of exports. Exports rose by 18 percent to Rs 7.73 billion as revenue from exports of food and live animals reached Rs 2.59 billion from Rs 2.17 billion a year ago. On the imports front, merchandise supplies from other nations to Mauritius declined 2.8 percent to Rs 13.80 billion. Fuelling the reduction in imports was a lower contribution of imported fuel, which fell to Rs 2.64 billion in August from Rs 3.5 billion a year ago.
However, on a month-on-month basis, the value of imported fuels was higher, contributing to an increased trade deficit in August, compared to Rs 5.24 billion in July. Fuel imports rose to Rs 2.64 billion in August from Rs 1.91 billion in July, causing overall imports to shoot up from Rs 13.16 billion in July to Rs 13.80 billion in the subsequent month. On the export front however, both months fared almost the same, with merchandise goods supplied by Mauritius to other nations totaling Rs 7.73 billion in August compared to Rs 7.92 billion in July.
On a country-wise basis, Britain emerged as the main importing nation in August, accounting for 15.3 percent of total exports from the island nation. On the imports front, India contributed 21.9 percent of foreign supplies to Mauritius.