Mauritius’ trims September trade deficit by 15.0% y-on-y to Rs 5 bn upon lower imports.
Mauritius trade deficit narrowed in September 2015 by 15.0% on a year-on-year basis as the gap between imports to and exports from the island economy was reduced, upon fuel and lubricants imports shrinking to a tenth of the cost of a year earlier with Imports to the Indian Ocean island nation fell by 13.0% to Rs13.3 billion as on a year-on-year basis, the cost of fuel and lubricants declined by 47.7% to 1.4 billion rupees.
Mauritius’ trade deficit narrowed in September 2015 by 15.0% to Rs 5.5 billion from a year ago, as the gap between imports to and exports from the island economy reduced, according to data released by Statistics Mauritius.
The month-on-month difference between imports and exports for September 2015 was higher by 11.6% compared to August 2015.
The reason for the decrease in trade deficit was that imports declined as much as 13.0% to Rs 13.3 billion year-on-year, while exports dipped 11.6% to Rs 7.8 billion.
Compared to the month of September 2014, the main items that contributed to a fall in overseas purchases of goods from a year ago was the category of ‘Mineral fuels, lubricants and related materials`’ whose quantum declined by 47.7% to Rs 1.4 billion, followed by items in the category ‘Machinery and transport equipment’, which also declined by 27.1% to hit Rs 3.1 billion.
`Food and live animals` also recorded a drop of 5.0% to reach Rs 2.6 billion.
On the other side, compared to the month of August 2015, imports dampened due to the combined effect of a fall in purchases of Food and live animals which dipped by 13.1% as well as plunged in Beverages and tobacco purchases of by a towering 15.3%.
Exports, for their part, decreased by 7.2 % in August 2015 compared to the previous month, while dipped further by 11.6% compared to September 2014.
The main item that was responsible for the decline in exports was the category of ‘Machinery and transport equipment’, whose overseas sales dipped by 46.8% from a year ago to reach Rs 701 million, while on a monthly basis this item recorded a decline of 43.1% as it amounted to Rs 1.2 billion in the August 2015.
Accordingly, Food and live animals also fell by 12.3% on yearly basis to reach Rs 2.3 billion and on a monthly comparison a decrease of 10.2% can be noted.
Geography-wise, United Kingdom at 13.4%, United States at 11.5% and South Africa at 11.1% were the major exports destinations for the island economy in August 2015.
On source markets, Mauritius mainly imported from China, which commanded a 16.8% share, with India following at 12.3% South Africa 7.6% and France 7.4%.