Mauritius sees trade deficit narrow to Rs 7.4 billion in November 2014
Statistics Mauritius noted that, compared to November 2013, exports climbed 10% to Rs 8.16 billion while imports into Mauritius rose by a mere 0.7% to Rs 15.6 billion. (Image: Wikimedia)
Mauritius trade deficit declined to Rs 7.43 billion in November 2014, improving by 7.8% compared to the corresponding month of the previous year, on the back of higher exports of machinery & equipment as well as miscellaneous manufactured goods.
However, the trade deficit — or the difference between mercantile imports and exports — was higher by 2.0% compared to the previous month of the same year, according to data by Statistics Mauritius.
According to the Statistics office, compared to the corresponding month last year, the value of exports climbed 10% to Rs 8.16 billion while imports into Mauritius rose by a mere 0.7% to Rs 15.6 billion.
Also, compared to the previous month, exports actually decreased by 5.6% even as imports too declined, albeit by a lower 2.1%.
The top three import items were machinery and transport equipment; food and live animals; and finally, minerals, fuels and lubricants, came at third place.
The cost of machinery and transport equipment rose 9% to Rs 3.94 billion in November 2014 from Rs 3.61 billion in October 2014, while it amounted to Rs 3.42 billion in the corresponding month of last year, representing a rise of 15.2%.
Food and live animal imports, which were estimated at Rs 2.41 billion in November 2014, saw a decline of 28% compared to Rs 3.33 billion in October 2014, and a decrease of 8% compared to Rs 2.62 billion received in the corresponding month of last year.
Finally, minerals, fuels and lubricants saw their imports rise to Rs 3.25 billion in November 2014, going up by 9.06% compared to Rs 2.97 billion in November 2013 and by 33.9% compared to Rs 2.43 billion in October 2014.
The most popular export items were miscellaneous manufactured articles; food and live animals; and machinery and transport equipment.
Compared to Rs 2.38 billion in November 2013, an increase of 13% was witnessed in miscellaneous manufactured articles exported in November 2014, which rose to Rs 2.68 billion, and an increase of 3% was seen compared to October 2014, when it amounted to Rs 2.59 billion.
Food and live animal exports stood at Rs 1.59 billion in November 2014, seeing a dip of 25.6% when compared to Rs 2.14 billion in November 2013. Also, compared to October 2014 when food and live animal exports stood at Rs 2.07 billion, exports declined by 23.18% in November 2014.
As for machinery and transport equipment, its exports amounted to Rs 1.25 billion in November 2014, a rise of 168.4% over the year-ago period when it stood at Rs 466 million, but witnessing a decrease of 9% compared to Rs 1.38 billion in October 2014.
Finally, looking at the geographical break-up, the island’s major exports destinations in November 2014 were: United Arab Emirates accounting for 15.1% exports, United Kingdom 13.6%, France 11.2% and United States of America, 10.8%.
On the other hand, imports were mainly from India, China, France and South Africa, which supplied 23.5, 20.0%, 6.5%, and 6.1% of overseas purchases respectively.