Mauritius’ November trade deficit up 1.3% y-on-y to Rs 7.8 bn upon lower export level.
Mauritius trade deficit rose in November 2015 by 1.3% on a year-on-year basis as exports level was lower upon lower exportation over machinery and transport items, whose quantum dipped by a whopping 171.2% on a yearly basis; and, on a monthly basis as well, trade deficit widened by 22.3% with imports level growing by 5.6% to hit Rs 15.2 bn.
Mauritius’ trade deficit widened in November 2015 by 1.3% to Rs 7.8 billion from a year ago, as the gap between imports to and exports from the island economy increased faster than ever, according to data released by Statistics Mauritius.
The month-on-month difference between imports and exports for November 2015 was also higher by 22.3% compared to October 2015.
The reason for the increase in trade deficit was that exports level dipped decreased by 7.7 % compared to the previous month and by 6.9 % compared to November 2014.
Compared to the month of November 2014, the main items that contributed to a decrease in overseas sales of goods from a year ago was the category of ‘Machinery and transport equipment’ whose quantum declined by a whopping 171.2% to Rs 459 million.
On a monthly basis, exports level was lower upon lower exportation of `Food and live animals` by 25.4% to reach Rs 1.9 bn, followed by the drop in overseas sales of Beverages and tobacco by 52.5% to hit Rs 58 m.
On the other side In November 2015, total imports increased by 5.6% compared to October 2015 but decreased by 2.9% compared to November 2014. Mineral fuels, lubricants and related materials was the item leading to a drop in import level with decline of 45.1% on a yearly basis and on a monthly basis a decline of 21.9% to hit Rs 1.8 bn.
On the other side, compared to the month of April 2015, imports grew higher due to the combined effect of a rise in purchases of machinery and transport equipment which edged higher by 36.4% as well as a spike in purchases of beverages and tobacco by a towering 83.6%.
However an increase in import of Food and live animals of 23.3% was noted between Octobers to November 2015 with figured reaching Rs 3.4 bn.
Geography-wise, France accounted for 11.3% of total exports in November 2015. Other major exports destinations for the island economy were United Kingdom at 10.2%, USA at 9.9%, and South Africa at 9.9%.
On source markets, Mauritius mainly imported from China, which commanded a 19.5% share, with India following at 14.0%, France at 6.6% and South Africa 6.0%.