- published: 30 Dec 2012
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The economy of Mauritius refers to the economic activity of the island nation of Mauritius.
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 compares very favourably with other sub-Saharan African countries and is largely due to sustained progress in economic conditions; between 1977 and 2008, growth averaged 4.6% compared with a 2.9% average in sub-Saharan Africa. Also important is that it has achieved what few fast growing economies achieve, a more equitable income distribution and inequality (as measured by the Gini coefficient) fell from 45.7 to 38.9 between 1980 and 2006. This remarkable achievement has been reflected in 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).
Coordinates: 20°12′S 57°30′E / 20.2°S 57.5°E / -20.2; 57.5
Mauritius i/məˈrɪʃəs/ (Mauritian Creole: Moris; French: Maurice, pronounced: [mɔˈʁis]), officially the Republic of Mauritius (Mauritian Creole: Republik Moris; French: République de Maurice) is an island nation off the southeast coast of the African continent in the southwest Indian Ocean, about 870 kilometres (540 mi) east of Madagascar. In addition to the island of Mauritius, the Republic includes the islands of Cargados Carajos, Rodrigues, Tromelin and the Agalega Islands. Mauritius Island is part of the Mascarene Islands, with the French island of Réunion 170 km (110 mi) to the southwest and the island of Rodrigues 570 km (350 mi) to the east. The area of Mauritius is 2040 km2; its capital city is Port Louis.
The United Kingdom took control of the islands in 1810, from France during the Napoleonic Wars, and Mauritius became independent from the UK in 1968. It is a parliamentary republic and is a member of the Southern African Development Community, the Common Market for Eastern and Southern Africa, the African Union, La Francophonie and the Commonwealth of Nations.