Mauritius' trade deficit narrows yr/yr in June

Mauritius' trade deficit narrowed by 12.7 percent year-on-year in June to 4.8 billion rupees, due mainly to lower import costs of food, machinery and transport equipment, official data showed on Monday.

It was the first time the trade deficit on the import-dependent Indian Ocean island shrunk since December last year. Food and oil prices on international markets have been swelling import costs for much of the last 18 months.

The Central Statistics Office said year-on-year import costs rose 4 percent to 10.9 billion rupees driven by mineral fuels, lubricants and related material prices, which rose to 1.7 billion rupees from 1.5 billion a year earlier.

However, food imports fell 11.1 percent year-on-year to 1.8 billion rupees in June, while machinery and transport equipment inflows fell 27.6 percent to 2.1 billion rupees.

Exports increased 3.9 percent to 6.2 billion rupees, on the back of a rise in revenues from the export of manufactured goods.

Britain was the main buyer of goods from Mauritius in June accounting for 23 percent of its exports, while India supplied 18.9 percent of the island's imports.