Mauritius’ trims April trade deficit by 2.6% y-on-y to Rs 6 bn as exports rise
Mauritius trimmed its trade deficit in April 2015 as exports went up on rising contribution of machinery and transport items, whose quantum rose a whopping 234.8%, while on a monthly basis, trade deficit widened upon higher imports of mineral fuels, lubricants and related materials by 44.0% to hit Rs 2.6 billion.(Image:iccwbo.org)
Mauritius’ trade deficit narrowed in April 2015 by 2.6% to Rs 6.0 billion from a year ago, as the gap between imports to and exports from the island economy came down, according to data released by Statistics Mauritius.
However, the month-on-month difference between imports and exports for April 2015 was higher by 15.8% compared to March 2015.
The reason for the decline in trade deficit was that exports climbed a much steeper 16.3% to Rs 8.7 billion year-on-year, while imports inched up by just 7.8% to Rs 14.7 billion.
Compared to the month of April 2014, the main items that contributed to a rise in overseas sales of goods from a year ago were machinery and transport items, whose quantum rose a whopping 234.8% to Rs 1.7 billion, followed by manufactured goods classified chiefly by material, which also rose 6.8% to hit Rs 913 million. The main constituent of imports was miscellaneous manufactured goods which also showed a 1.5% increase to reach Rs 2.6 billion.
On the other side, compared to the month of March 2015, exports dipped due to the combined effect of a drop in sales of “Food and live animals” which declined by 14.2%. This was supplemented by a substantial drop in exports of Machinery and transport equipment which declined by 11.5% on a month-on-month basis.
However, a rise of 76.3% was seen in the exports of chemicals & related products to hit Rs 328 million.
Imports, for their part, increased by 3.6% in April 2015 compared to the previous month, and by 7.8% compared to April 2014.
The main item that was responsible for the rise in imports was the category of machinery and transport equipment, whose overseas purchases rose 25.5% from a year ago to reach a record high of Rs 3.9 billion.
On the positive side, imports of beverages and tobacco declined 38.8% over the year-ago period, to bring overseas purchases by the island economy down to Rs 183 million for April 2015.
Geography-wise, United Arab Emirates at 18.6%, United Kingdom at 14.2%, USA at 8.2% and France at 10.7% were the major exports destinations for the island economy in April 2015.
On source markets, Mauritius mainly imported from India, which commanded a 23.2% share, with China following at 16.9%, France at 7.5% and Vietnam 6.4%.