Economy - overview:
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 in the order
of 5% to 6%. This remarkable achievement has been reflected in more
equitable income distribution, increased life expectancy, lowered
infant mortality, and a much-improved infrastructure. Sugarcane is
grown on about 90% of the cultivated land area and accounts for 25%
of export earnings. The government's development strategy centers on
expanding local financial institutions and building a domestic
information telecommunications industry. Mauritius has attracted
more than 9,000 offshore entities, many aimed at commerce in India
and South Africa, and investment in the banking sector alone has
reached over $1 billion. Mauritius, with its strong textile sector,
has been well poised to take advantage of the Africa Growth and
Opportunity Act (AGOA).
GDP (purchasing power parity):
$15.73 billion (2005 est.)
GDP (official exchange rate):
$6.681 billion (2005 est.)
GDP - real growth rate:
2.5% (2005 est.)
GDP - per capita (PPP):
$12,800 (2005 est.)
GDP - composition by sector: agriculture: 5.9% industry: 29.8% services: 64.3% (2005 est.)
Labor force: 570,000 (2005 est.)
Labor force - by occupation: agriculture and fishing 14%, construction and industry 36%, transportation and communication 7%, trade, restaurants, hotels 16%, finance 3%, other services 24% (1995)
Unemployment rate:
9.6% (2005 est.)
Population below poverty line:
10% (2001 est.)