News on Sunday

Trade deficit widens by 28% over one year

According to figures released by Statistics Mauritius, the country’s balance of visible trade showed a deficit of Rs 6.9 billion in March 2016. This figure is higher by 49.4% when compared to the previous month and by 28.1% when compared to the corresponding month of 2015. In March 2016, total imports increased by 16.3% compared to February 2016 to stand at Rs 13.8 billion but decreased by 2.4% compared to March 2015. This drop is largely accounted for by a lower import figure for items falling under the category “Machinery and transport equipment”. In March 2016, total exports decreased by 4.7 % to reach Rs 6.9 billion as compared to the previous month and by 21.1% compared to March 2015. This lower figure is also largely accounted for by lesser exports of items classified as “Machinery and transport equipment”. Our main export markets remain euro-centric with the United Kingdom (13.3%), France (11.2%) and Italy (8.8%) heading export markets while South Africa (8.8%) remains the top African destination of Mauritian exports as at March 2016. Regarding imports, India (18.3%) is the main sourcing market largely due to Mauritius buying its total demand for petroleum products from that country as well as foodstuffs. China in second position (14.4%) is, followed by South Africa (8.2%) and France (7.5%).
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