Mauritius’ trade deficit shoots up to Rs 6.51 billion in July 2014
Higher imports of machinery and transport equipment by 34.5% to Rs 3.78 billion in July 2014 caused total imports to spiral to 14.64 billion for the month, in turn widening the trade deficit by 19.7% to hit Rs 6.51 billion (Image: Frontier Market Network)
Mauritius’ trade deficit showed a 19.7% rise to hit Rs 6.51 billion in July 2014, compared to the corresponding month of the previous year, driven by higher imports of machinery and transport equipment.
The widening gap between imports and exports was a constant theme, with data released today by Statistics Mauritius also showing that the deficit was higher by 1.0% compared to June 2014.
On the imports front, Statistics Mauritius noted that overseas purchases declined by 1.1% compared to June 2014 but increased by 10.8% compared to July 2013, to stand at Rs 14.64 billion.
The top-three import items for the month of July 2014 were: machinery and transport equipment; food and live animals; and manufactured goods, classified chiefly by material.
Import of machinery and transport equipment, which caused total imports to spiral, was estimated to have increased by 34.5% to Rs 3.78 billion in July 2014 compared to the corresponding month in 2013 when it stood at Rs 2.81 billion.
Meanwhile, food and live animals also contributed to the increase in imports, rising 18.67% to attain Rs 3.15 billion in July 2014 against Rs 2.65 billion in July 2013.
Finally, manufactured goods imports were set at Rs 2.51 billion, a decline of 5.64% compared to July 2013 when it stood at Rs 2.66 billion.
On the other hand, total exports for July 2014 saw a 2.8% dip compared to the previous month, and increased by 4.6% compared to July 2013, to stand at Rs 8.12 billion.
The highest export values were notched up under the categories of miscellaneous manufactured articles; food and live animals; and machinery and transport equipment.
Miscellaneous manufactured articles are estimated to have risen by 3.38% to Rs 2.75 billion in July 2014, against Rs 2.66 billion in the corresponding month of 2013.
The second most exported product, food and live animals, amounted to Rs 2.09 billion in July 2014 compared to July 2013 where it stood at Rs 2.19 billion, representing a 4.57% dip.
Meanwhile, machinery and transport equipment exports saw a three-fold increase from Rs 372 million in July 2013 to Rs 1.16 billion in July 2014.
Finally, Statistics Mauritius mentioned that Mauritius’ major exports destinations in July 2014 were United Kingdom with 13.7%, France 11.8%, United Arab Emirates 11.4% and USA 10.7%.
On the other hand, the island economy imported mainly from China at 17.6%, India 16.5%, France 7.9% and South Africa 7.3%.