Mauritius has during the past few years embarked on a process towards the structured transformation of its economy. One of the main objectives of the new economic paradigm is to usher Mauritius into a services based economy.
Government is specifically aiming at expanding services exports and attracting more Foreign Direct Investment in the sector. The following table illustrates the Mauritius’ import and export of services to the world.
Mauritius’ export and import of services(Rs Million) | 2013 | 2014(Jan-Sep) |
Export of services | 104,646 | 76,478 |
Transportation | 11,018 | 8,124 |
Passenger | 11,018 | 8,124 |
Freight | 11,018 | 8,124 |
Other | 11,018 | 8,124 |
Travel | 40,557 | 32,232 |
Business | 15,502 | 11,119 |
Personal | 25,055 | 21,113 |
Other Services | 53,071 | 36,122 |
Private | 49,759 | 33,360 |
Government | 3,312 | 2,762 |
Import of services | 83,165 | 56,738 |
Transportation | 18,063 | 13,263 |
Passenger | 603 | 517 |
Freight | 9,867 | 7,010 |
Other | 7,593 | 5,736 |
Travel | 13,388 | 10,992 |
Business | 1,076 | 978 |
Personal | 12,312 | 10,014 |
Other Services | 51,714 | 32,483 |
Private | 49,443 | 30,835 |
Government | 2,271 | 1,648 |
Figure 1 above shows the contribution of services to GDP in Mauritius in 2015. It reveals the extent to which the economy has diversified from agriculture and manufacturing and the clear importance of services (public and private) in national production. Services account for about 72 percent of GDP. Of particular note is the size of the financial services (10.3%) and distribution (wholesale and retail) sectors (12.5%).