Economy of Mauritius

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Economy of Mauritius

Post  kosovohp on Fri Jan 07, 2011 2:13 am

Since independence in 1968, Mauritius has developed from a low-income, agriculturally based economy to a middle income diversified economy with growing industrial, financial, and tourist sectors. For most of the period, annual growth has been of the order of 5% to 6%. This has been reflected in increased life expectancy, lowered infant mortality and improved infrastructure.

Estimated at US$12,356 for 2009 at purchasing power parity (PPP),[23] Mauritius has the sixth-highest GDP per capita in Africa, behind Seychelles (US$19,274 at PPP), Equatorial Guinea (US$16,853 at PPP), Gabon (US$14,421 at PPP), Libya (US$14,381 at PPP) and Botswana (US$13,417 at PPP).The economy is mainly dependent on sugarcane plantations, tourism, textiles, and services, but other sectors such as seafood processing, information technology and medical tourism are rapidly developing as well. Mauritius, Libya, and Seychelles are the only three African nations with a "high" Human Development Index rating. Réunion, as part of France, is not listed by the UN in their Human Development Index ranking.

Sugar cane is grown on about 90% of the cultivated land area and accounts for 25% of export earnings.Mauritius is a good example of a monocrop economy but since it is no more dependent only upon agriculture, using this term would not be apt. However, a record-setting drought severely damaged the sugar crop in 1999. The government's development strategy centres on foreign investment. Mauritius has attracted more than 9,000 offshore entities; many aimed at commerce in India and South Africa while investment in the banking sector alone has reached over $1 billion. Economic performance during the period from 2000 through 2004 combined strong economic growth with unemployment at 7.6% in December 2004. France is the country's biggest trading partner, has close ties with the country, and provides technical assistance in various forms.

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Re: Economy of Mauritius

Post  lunamoonfang on Sun Jan 09, 2011 5:13 am

Sugar cane is grown on about 90% of the cultivated land area and accounts for 25% of export earnings.Mauritius is a good example of a monocrop economy but since it is no more dependent only upon agriculture, using this term would not be apt. However, a record-setting drought severely damaged the sugar crop in 1999. The government's development strategy centres on foreign investment. Mauritius has attracted more than 9,000 offshore entities; many aimed at commerce in India and South Africa while investment in the banking sector alone has reached over $1 billion. Economic performance during the period from 2000 through 2004 combined strong economic growth with unemployment at 7.6% in December 2004. France is the country's biggest trading partner, has close ties with the country, and provides technical assistance in various forms.


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Re: Economy of Mauritius

Post  heroisthai on Wed Jan 12, 2011 4:02 am

Estimated at US$12,356 for 2009 at purchasing power parity (PPP),[23] Mauritius has the sixth-highest GDP per capita in Africa, behind Seychelles (US$19,274 at PPP), Equatorial Guinea (US$16,853 at PPP), Gabon (US$14,421 at PPP), Libya (US$14,381 at PPP) and Botswana (US$13,417 at PPP).The economy is mainly dependent on sugarcane plantations, tourism, textiles, and services, but other sectors such as seafood processing, information technology and medical tourism are rapidly developing as well. Mauritius, Libya, and Seychelles are the only three African nations with a "high" Human Development Index rating. Réunion, as part of France, is not listed by the UN in their Human Development Index ranking.






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