Mauritius’ July trade shortfall down 15pct year-on-year
A sugarcane plantation in Mauritius (Source: Reuters)
Mauritius saw its merchandise trade deficit fall by 15% to Rs 5,242 million in July 2013 on a year-on-year basis, said a report released by Statistics Mauritius on September 23.
However, the import-export gap for goods was higher by 2.7% when compared to June, when the deficit stood at Rs 5,105 million.
While both exports and imports of goods showed negative growth, the island nation’s trade deficit increased in July on a month-on-month basis as exports shrank at a faster rate than imports. Even as exports slid by a modest 2.8 percent to Rs 7,927 million, imports slid by an even more minuscule 0.7 percent to Rs 13,169 million.
On a year-on-year basis however, Mauritius reduced its trade gap, as exports zoomed up by a whopping 17.2 percent compared to July 2012, while imports only showed a marginal increase of 1.9 percent.
United Kingdom (16.5%), Italy (11.6%), USA (11.0%) and France (10.7%) were the major exports destinations in July 2013 while the island nation relied mainly on India (19.8%), China (17.1%) and France (12.0%) for imports.
In terms of the composition of goods, imports of mineral fuels, lubricants and related materials saw the most significant shift, a decline of 48.9%, to finally stand at Rs 1,905 million in July. On the exports front, the ‘Food and live animals’ category witnessed the most significant shift, falling 12% to Rs 2,328 million compared to the June figure of Rs 2,648 million.
Source: Statistics Mauritius (under the Ministry of Finance & Economic Development)