Statistics Mauritius Expects Growth Down To 3.2% This Year

8 years, 7 months ago - October 01, 2012
Growth will be sluggish this year. Statistics Mauritius has released its new forecasts on Friday 28 September were revised to the downside.

Gross Domestic Product (GDP) will be only 3.2% this year instead of 3.5% announced in June by the analysts of the state. Statistics Mauritius bases its forecasts on growth scenarios in several key sectors of the economy.

Thus, the sugar sector will experience a decrease of 7% due to an average production of 410 000 tonnes this year, against 435 000 tonnes for the 2011 season.

The manufacturing sector will record a growth of 1% against 2.2% last year. Sugar factories in turn slowed due to lower production. They will register a negative growth of 3.4% against 3.8% growth last year.

Textiles will also decline at 2.7%, a decrease from the strong expansion of 8% in 2011. The export industry sector recorded a growth near zero with only 0.6%, against 8.4% in 2011.

For other manufacturing industries, the growth rate will be 1.6% versus 1% last year. The hotel sector will decline by 0.5%. The number of tourists for the year 2012 has been revised downwards: 960,000 visitors are expected only when in 2011 they were 964,000. Our goal of 1 million tourists a medium term away.

The situation is not favorable with a severe economic crisis in Europe, our main market. Diversification of our customers will not be overnight.

After the 2% decline last year's construction sector, 2012 looks bleak even with a drop of 1.2%.

By cons, new sectors promise to be more buoyant than traditional areas. And transport and communications will record a growth of 4.4% this year, marginally lower than the 4.9% in 2011.

Finance will also increase by 4.8% compared to 5.5% in 2011. The side of other economic aggregates, the savings rate will be 14.9%, marginally lower than the 15% in 2011. Consumption expenditure of households and the government will increase by 2.6%, marginally higher than the 2.5% in 2011.

The investment rate will be 0.7% decline following the stagnation of 0.3% last year. The private investment will fall by 3.3%.

This has the backdrop of a private investment of 3.3% and a capital increase of 7.7% in the public sector.

 

Text by lexpress.mu

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