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| Capital city: |
Port Louis |
| Surface area: |
2000 sq km |
| Population: |
1.3 million |
| Official language(s): |
English |
| Head of State: |
President The Rt Hon Sir Anerood Jugnauth |
| Head of Government: |
Prime Minister The Rt Hon Dr Navinchandra Ramgoolam |
| Australian exports to Mauritius: |
A$94 million |
| Australian imports from Mauritius: |
A$7 million |
| Mauritius' principal export destinations: |
UK, France, USA |
| Mauritius' principal import sources: |
India, China, France | (Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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The economic policy of the current government has been focused on steering the economy away from its dependence on sugar and textiles, seeking a greater diversification and openness. It is aiming to develop Mauritius as a regional centre for financial services and for information and communications technology. Another element of the diversification of the country’s economic base is the further development of the tourism and fishing industries.
Mauritius economic reform program has been based on supply side, growth promoting policies characterised by low taxes (15 per cent income and corporate tax), deregulation and fiscal prudence.
Main challenges remain unemployment, inflation, budget deficits and social and economic imbalances.
Mauritian GDP is today largely dependent on services (tourism, business and financial services, wholesale and retail trade), manufacturing (textiles), and agriculture (sugar).
Key economic indicators and statistics for 2008:
- GDP – US$8.1 billion
- GPD per capita – US$6,392
- Real GDP growth – 6.6 per cent
- Inflation – 9.7 per cent
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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Political climate
Mauritius is a parliamentary republic. Administrative power lies in the hands of the Prime Minister and his cabinet. A 62-member National Assembly holds legislative power. The National Assembly is elected every five years, as is the term for the Presidency. The President, who is appointed by the National Assembly, is a symbolic figure.
Ideological differences between major political groupings in Mauritius no longer exist, as is demonstrated by the ease with which alliances are made and broken. The frequency and fluidity of changing alliances may create the impression of political instability, but this is not the case. The commitment to democracy is strong and all parties seem to agree broadly on the country’s major developmental and economic priorities.
The Labour Party Leader and current Prime Minister is leading the Alliance Sociale, which has a substantial majority in the National Assembly and is seeking to move forward with its policy agenda. The next elections will take place in 2010.
The Government of Mauritius' official website contains a vast amount of information on the various ministries, parastatal bodies and contacts, with links to them all and provides access to all official documentation and reports. |
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Trade relations and statistics
Mauritius is a member of several international and regional groups such as the Commonwealth, the African Union, SADC, COMESA, the ACP, and more.
The emergence of the two main regional trading blocs, ie. COMESA and Southern African Development Community (SADC) is favouring more intra-regional trade. For instance, the ratified SADC Trade Protocol provides for the elimination of all tariff barriers within a number of years. The Southern African region is an interesting emerging market. However, Mauritian trade with SADC shows a significant deficit. South Africa is the most prominent exporter to Mauritius from SADC.
Besides its very strong historical and cultural links with India, Mauritius also enjoys privileged relationships with the UK and France.
Double taxation treaties exist between Mauritius and 28 other countries, with more treaties awaiting ratification as they are still being negotiated. None have been signed with Australia.
The commercial relationship between Mauritius and Australia has shown a healthy growth in the last few years. Exports of services (consulting services, and education) have also grown significantly. In 2007, Australia was number one destination for Mauritius students going overseas to further their education.
Major Australian exports to Mauritius (2007-08):
- Milk and cream – A$21 million
- Meat (excluding beef) – A$14 million
- Cheese and curd – A$9 million
- Wool and other animal hair – A$8 million
Major Australian imports from Mauritius (2007-08):
- Clothing – A$4 million
- Fertilisers (excluding crude) – A$1 million
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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