Mauritius’ trade deficit rises 21% in August year-on-year on rising fuel imports
The rising cost of imports primarily comprised of hikes in mineral fuels, lubricants and related materials, which rose 81.6% to Rs 3.85 billion in August 2014 from Rs 2.12 billion in July 2014, while it amounted to Rs 2.65 billion in the corresponding month of last year, representing a rise of 45.3%.(Image: MRPL)
Mauritius’ trade deficit rose by 21.1% to hit Rs 7.47 billion in August 2014, compared to the year-ago period, driven by higher imports of fuels and lubricants, according to data released on Statistics Mauritius on October 21, 2014.
Besides, the gap between imports and exports by Mauritius also widened by 14.7% in August 2014, compared to July 2014.
In August 2014, total imports rose by 13.58% compared to August 2013, and by 7.46% compared to July 2014.
The top three import items were mineral fuels, lubricants and related materials; machinery and transport equipment; and finally, food and live animals.
The cost of Mineral fuels, lubricants and related materials rose 81.6% to Rs 3.85 billion in August 2014 from Rs 2.12 billion in July 2014, while it amounted to Rs 2.65 billion in the corresponding month of last year, representing a rise of 45.3%.
Machinery and transport equipment, which was estimated at Rs 3.72 billion in August 2014, saw a decline of 1.59% compared to Rs 3.78 billion received in July 2014, and an increase of 47.62% compared to Rs 2.52 billion purchased from overseas last year.
Finally, food and live animals decreased by 14.56% and 18.52% compared to July 2014 and August 2013 respectively, to reach Rs 2.69 billion.
In August 2014, total exports rose by 7.52% compared to August 2013 and by 1.64% compared to July 2014.
The most exported goods were miscellaneous manufactured articles; food and live animals; and machinery and transport equipment.
Compared to August 2013, an increase of 4.24% was seen in miscellaneous manufactured articles exported in August 2014 to Rs 2.65 billion, while their exports declined by 3.31% compared to July 2014, when it amounted to Rs 2.75 billion.
Food and live animals, at Rs 1.92 billion, have shown a dip of 26.73% and 8.17% respectively when compared to August 2013 and June 2014.
As for machinery and transport equipment, it increased to Rs 1.57 billion in August 2014, an almost 6-fold rise over the year-ago period when it stood at Rs 269 million, as well as witnessed an increase of 35.6% compared to July 2014.
Finally, looking at the geographic break-up the island’s major exports destinations in August 2014 were: United Arab Emirates accounting at 17.3% share, United Kingdom 12.3%, United States of America 10.2% and France 9.8%. On the other hand, imports were mainly from India, China, France and South Africa which supplied 24.5%, 14.9%, 6.4%, and 5.2% respectively.