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AfricaMoney | June 22, 2017

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Mauritius sees net foreign assets at Rs 131 bn & trade deficit down to Rs 4.6 bn

Mauritius sees net foreign assets at Rs 131 bn & trade deficit down to Rs 4.6 bn

Estimated net foreign assets for the week ended 13March15 stood at Rs 131 billion, said the Bank of Mauritius, while Statistics Mauritius’ monthly external merchandise trade statistics for January 2015 showed a lower trade deficit of Rs 4.6 billion. (Image: Composite)

This week, Mauritius’ central bank released its survey for the week of 13 March 2015 showing estimated net foreign assets at Rs 131 billion, while Statistics Mauritius published its monthly external merchandise trade statistics for January 2015 showing a trade deficit of Rs 4.6 billion.

The balance of visible trade was lower by as much as 49.1% compared to the previous month and 9.8% compared to the corresponding month of 2014.

In the BoM survey, net foreign assets comprised claims of non-residents amounting to Rs 131.1 billion, less liabilities to non-residents amounting to Rs 93 million and domestic assets are disaggregated as Claims on Other Depository Corporations, Net Claims on Central Government, and Claims on Other Sectors.
Claims on Other Depository Corporations are estimated at Rs 2.5 billion while net claims on the central government stood at Rs -21.0 billion, with Rs 3.8 billion for claims on Central Government and deducing liabilities to Central Government of Rs 24.8 billion, and claims on other sectors and monetary base amounted to Rs 173.0 million.

Concerning the monetary base, it comprised Rs 28.2 billion for currency in circulation, Rs 45.7 billion for liabilities to Other Depository Corporations and liabilities to other sectors amounted to Rs 92.0 million.

In addition, securities other than shares included in broad money amounted to Rs 3.1 billion, deposits excluded from broad money amounted to Rs 58 million, and securities other than shares excluded from broad money came to Rs 1 million.

Finally, central bank data also showed that shares and other equity – which is essentially equity capital and reserve complied by the bank consisting of equity, general and special reserves – stood at the level of Rs 22.1 billion.

As for the trade report released by Statistics Mauritius, a deficit of Rs 4.6 billion was shown, representing an improvement of 30% over December 2014 and 2.8% against the same period in 2013.
Imports for January 2015 stood at Rs 12.2 billion while exports were at Rs 7.6 billion. On the exports side, the amount decreased by 9.4% compared to the previous month but rose by 12.3% compared to January 2014. On the imports front, total imports decreased by 30.0% compared to December 2014 but increased by 2.8% compared to January 2014.

Imports comprised mainly of machinery and transport equipment mineral fuels, lubricants and related materials and food and live animals, capturing 28.0%, 20.2% and 16.5% of total imports respectively, and on the exports side, miscellaneous manufactured articles, food and live animals and ship’s stores and bunkers were the main components, accounting for 29.0%, 21.9% and 20.4% of total exports each.

Coming to the destinations for export the sources of imports, United Arab Emirates (UAE) (17.8%), United Kingdom (11.9%), USA (10.2%) and Madagascar (9.7%) were the major exports destinations in January 2015 while imports were mainly source from India (25.2%), China (13.7%), South Africa (8.3%) and France (7.4%).

Finally, Statistics Mauritius also released the Producer Price Index of the Manufacturing sector (PPI-M) for December 2014, which showed a decline on the back of lower prices of food, rubber and plastic products.

The value of the index stood at 133.5 basis points, dipping by 0.6% mainly due lower prices of “Rubber and plastic products” (-1.1%) and “Food products and beverages” (-0.6%), partly offset by higher prices of “Printing and reproduction of recorded media” (+1.1%).

It may be noted that the PPI-M index comprises mainly food products and beverages, Chemicals and chemical products, Printing and reproduction of recorded media, Rubber and plastic products, Fabricated metal products and Basic metals.

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