According to allcitypopulation, Mauritius is an island nation located in the Indian Ocean, about 2,000 kilometers off the east coast of Africa. The country is comprised of two large islands, Mauritius and Rodrigues, as well as several smaller islands. Mauritius is a volcanic island with a mountainous interior and coastal plains. The climate is tropical and humid year-round.
The population of Mauritius is 1.3 million people with the majority living on the main island of Mauritius. The official languages are English and French, although many locals also speak Creole which is derived from French. The population is mostly made up of Indo-Mauritians (68%) followed by Creoles (27%), Sino-Mauritians (3%), Franco-Mauritians (2%) and other ethnicities (1%). According to Petwithsupplies, the capital city of Mauritius is Port Louis with a population of 147,500 (2018 estimate). Other major cities include Vacoas-Phoenix, Beau Bassin-Rose Hill.
The economy of Mauritius is largely dependent on tourism, manufacturing and financial services. Tourism accounts for around 10% of GDP and employs more than 50,000 people directly or indirectly. Manufacturing makes up around 20% of GDP while financial services contribute 11%. Other sectors include agriculture, telecommunications and construction.
The currency in use in Mauritius is the Mauritian rupee which has been pegged to the US dollar since 1976 at a rate of 1USD = 33 MRU. Inflation has been low over recent years due to strict fiscal policies implemented by the government which have kept public debt levels low while fostering economic stability in the country.
Overall, Mauritius has been able to successfully transition from an agricultural economy to a service economy over the past few decades thanks to its strategic location as well as its educated population and stable political environment. This has enabled it to become one of Africa’s most prosperous countries with a high HDI ranking and low poverty rate compared to other African nations. Furthermore, its focus on diversifying its export markets while providing access to a wider range of imported goods has helped it to become a major player in the global economy.
Foreign Trade of Mauritius
Mauritius is an open economy that relies heavily on foreign trade. The country has a long history of successful trading partnerships with countries around the world and its strategic location has enabled it to become a major gateway for goods between East and West. According to the World Trade Organization (WTO), in 2019, Mauritius was the 39th largest exporter in the world, accounting for 0.7% of global exports.
The main exports from Mauritius are textiles and clothing (45%), sugar (12%), seafood (9%), cut flowers (8%) and agricultural products such as tea, spices and fruits (7%). Other exports include chemicals, machinery, wood products and minerals. The main export destinations are France, India, the United Kingdom, South Africa and China.
In terms of imports, Mauritius relies heavily on consumer goods such as foodstuffs (25%), machinery and transport equipment (22%), chemicals (14%) and manufactured goods such as textiles and clothing (10%). Other imports include petroleum products, iron and steel products as well as agricultural products. The main import partners are India, China, France, South Africa and the United States.
Mauritius is also an important transit point for goods travelling between Europe and Africa which accounts for around 10% of its total trade volume. Furthermore, it is a major re-export hub due to its well-developed port infrastructure which facilitates transshipment services between Asia and Africa.
The government has taken steps to further improve its foreign trade performance by signing various free trade agreements with countries in the region such as India, Madagascar and Mozambique. It is also actively pursuing membership in various regional economic blocs such as COMESA which will help to further open up new markets for its exports while providing access to preferential tariffs on imports from other member countries.
Overall, Mauritius has been able to successfully leverage its strategic location along with its educated population to become one of Africa’s most prosperous countries through successful foreign trade partnerships with other nations around the world. This has enabled it to become a major player in global markets while providing access to a wider range of imported goods at competitive prices for local businesses as well as consumers alike.
Major Trading Partners of Mauritius
Mauritius has a diversified and vibrant trading network, with the main trading partners including India, France, South Africa, the United Kingdom and China. India is the largest trading partner of Mauritius, accounting for around 25% of total imports and exports. In terms of exports to India, Mauritius’s top products include clothing and textiles (45%), seafood (9%), cut flowers (8%) and agricultural products such as tea, spices and fruits (7%).
France is the second largest trading partner of Mauritius with bilateral trade amounting to over US$2 billion annually. The export from Mauritius to France includes apparel and clothing (40%), sugar (12%), seafood (9%), cut flowers (8%) as well as other manufactured goods such as chemicals, machinery and wood products. On the other hand, imported goods from France consist primarily of consumer goods including foodstuffs (25%), machinery and transport equipment (22%) as well as chemicals which account for 14%.
The United Kingdom is another major trading partner of Mauritius with bilateral trade amounting to around US$1 billion annually. The main exports from Mauritius to UK are textiles & clothing (45%), sugar (12%), seafood(9%)and cut flowers(8%). The import from UK consists primarily of consumer goods such as foodstuffs(25%) machinery & transport equipment(22%)chemicals(14%)&manufactured goods like textiles &clothing(10%).
South Africa is one of the major trading partners of Mauritius with bilateral trade amounting to over US$1 billion annually. The export from Mauritius consists primarily of textiles & clothing(45%), sugar(12%),seafood(9%)and cut flowers(8%). The import from South Africa includes primarily consumer goods such as foodstuffs(25%)machinery&transport equipment(22%)chemicals(14)&manufacturedgoodsliketextiles&clothing(10%).
Finally, China is another major trading partner for Mauritius with bilateral trade amounting to over US$800 million annually. Exports from Mauritius include textiles & clothing(45%), sugar(12%),seafoods 9%and cutflowers 8%. Imported goods consist primarilyof consumergoodslikefoodstuffs25%,machinery&transportequipment 22%,chemicals14%&manufacturedgoodsliketextiles &clothing10%.
Overall, through its strategic location along with its educated population base has enabled it to become a major player in global markets while providing access to a wider range of imported goods at competitive prices for local businesses as well as consumers alike. This has been further strengthened by signing various free trade agreements with countries in the region such as India, Madagascar and Mozambique which have helped open up new markets for its exports while providing access to preferential tariffs on imports from other member countries.
Major Imports and Exports of Mauritius
Mauritius is an island nation located in the Indian Ocean off the south-east coast of Africa. It is a major trading partner with many countries, including India, the United Kingdom, South Africa and China. The country’s strategic location along with its educated population base has enabled it to become a major player in global markets while providing access to a wider range of imported goods at competitive prices for local businesses as well as consumers alike. This has been further strengthened by signing various free trade agreements with countries in the region such as India, Madagascar and Mozambique which have helped open up new markets for its exports while providing access to preferential tariffs on imports from other member countries.
Mauritius’ main exports include textiles and clothing (45%), sugar (12%), seafood (9%) and cut flowers (8%). Textiles and clothing are by far the largest export item of Mauritius and account for almost half of all exports from the country. The textile industry is one of the main drivers of economic growth in Mauritius due to its relatively low labour costs compared to other developed nations. Sugar is another important export item for Mauritius, with most of it being exported to Europe. Seafood exports are also significant, particularly tuna which accounts for around 40% of all seafood exports from Mauritius. Cut flowers are mainly exported to Europe and North America where they are used for decorative purposes.
The main imports into Mauritius consist primarily of consumer goods including foodstuffs (25%), machinery and transport equipment (22%) as well as chemicals which account for 14%. The importation of consumer goods has been increasing steadily over recent years due to rising incomes amongst local households. Machinery and transport equipment have also seen an increase in importation due to increasing demand from both private companies as well as government sectors such as health care and infrastructure development projects. Chemicals are mainly imported for industrial use in manufacturing processes such as food processing or agriculture production.
Overall, through its strategic location along with its educated population base has enabled it to become a major player in global markets while providing access to a wider range of imported goods at competitive prices for local businesses as well as consumers alike. This has been further strengthened by signing various free trade agreements with countries in the region such as India, Madagascar and Mozambique which have helped open up new markets for its exports while providing access to preferential tariffs on imports from other member countries.