Mauritius trade deficit broadens 5.4% in December as imports ascent quicker than exports
The main constituent of imports is machinery and transport items which accounts for 35.2 %, whose overseas purchases rose a whopping 46.0% to Rs 6.15 billion followed by food and live animal imports, which also showed an increase of 10.9% to reach Rs 30.03 billion.( Image: tmcmarine)
Mauritius faced a larger trade deficit in December from a year earlier, as the gap between imports and exports from the island economy rose by 5.4 % to Rs 9.09 billion for the month, according to data released by Statistics Mauritius today February 24, 2015.
Besides, the difference between imports and exports for December 2014 was also higher by 18.8% compared to November 2014.
The reason for the widening gap between imports and exports was that imports climbed a much steeper 12.1% to Rs 17.49 billion while exports inched up just by 3.07% to Rs 8.40 billion.
Total imports for the month of December amounted to Rs 17.49 billion with the main items that contributed to the rise in imports from a year-ago were machinery and transport items, whose overseas purchases rose a whopping 46.0% to Rs 6.15 billion, and food and live animal imports, which also showed an increase of 10.9% to reach Rs 30.03 billion.
Compared to the month of November 2014, imports climbed up due to a rise in overseas purchases of machinery and transport, which rose a towering 55.96%, followed by food and live animal imports which rose by 25.72% to Rs 3.03 billion.
On the other hand a dropped in imports of Mineral fuels, lubricants and related materials by 40.01% to Rs 1.95 billion.
Exports, on their part, increased by 5.6% in December 2014 compared to the previous month and by 3.1% compared to December 2013.
The main item that was responsible for the slow rise in exports was the category of food and live animals, whose outbound sales dipped by 19.5% from a year ago to hit a low of Rs 1.94 billion.
On the positive side, exports of Machinery and transport inched up by 151.3% over the year-ago period to notch up outbound sales of Rs 1.23 billion for December 2014.
Geography-wise, United Arab Emirates at 15.4%, United Kingdom with 14.0%, United States of America at 11.2% and France at 8.4% were the major exports destinations for the island economy in June 2014.
Meanwhile, Mauritius mainly imported from India, which commanded a 23.3 % share, China at 18.0%, South Africa at 6.3% and France at 5.9%.