Mauritius Economics and Business

Business

Traditionally, Mauritius’ economy has depended on sugar production. However, sugar’s role in the economy has gradually lost significance, and its share of GDP has decreased. In addition to sugar, tea and tobacco are also grown as barley crops. Food production is mainly in the form of small-scale self-sustaining cultivation, and the country is not self-sufficient with food.

Mauritius GDP (Nominal, $USD) 2003-2017

  • COUNTRYAAH: Find major trading partners of Mauritius, including major exports and major imports with latest trade value and market share as well as growth rate.

Until the 1970s, the industrial sector was small and mainly focused on import substitution. Industrial policy in the 1980s resulted in an investment in a free zone, EPZ (Export Processing Zone), where imported industrial goods are further processed for export. Since the mid-1990s, the financial sector has also grown significantly. The country has also invested heavily in raising the education level of the population, mainly in IT and telecommunications.

Note: the capital city of Mauritius, abbreviated as MUS by abbreviationfinder.org, is Port Louis with a population of 147,500 (2018 estimate). Other major cities include Vacoas-Phoenix, Beau Bassin-Rose Hill.

The tourism sector, which employs about 10,000 people, is the third most important source of foreign currency.

Mauritius Economics and Business

History. – In 1961, continuing with the orderly constitutional evolution, Mauritius acquired internal autonomy; in the elections of 1963 for the Legislative Assembly, the Labor Party still prevailed, to which the Hindu population (led by S. Ramgoolam, a doctor of Indian origin for twenty years on the political scene), but the Parti Mauricien (PM) – headed by ‘lawyer G. Duval -, opposed to independence and in favor of a form of association with Great Britain out of fear of Hindu prevalence (it found a following in the Creole population and among Europeans). The London Constitutional Conference of September 1965 postponed the decision on the future of M to the popular will: the victory in the August 1967 elections of the coalition led by Labor Party – allied with the Muslim Action Committee and with others (43 seats against 27 for the PM) – paved the way for independence, proclaimed after a period of unrest, on March 12, 1968. The Constitution of 1969 confirmed the monarchical structure parliamentary.

From independence to today, the authoritative Ramgoolam has remained at the helm of the government, in which the PM also participated between 1970 and 1973. The most lively opposition came from the Mouvement Militant Mauricien (MMM) headed by Fr. BĂ©renger; after a moment of success, in 1970, thanks to the following of young people, the WMM – which in the search for consensus among the workers fomented a strike by the dockers in 1971 but then lost control – has retained a reduced weight. The positive developsThe economic development, favored first by the closure of the Suez Canal and then by the increase in the price of sugar (in February 1975, however, a cyclone seriously damaged agricultural crops such as tourist facilities), consolidated the prestige of Ramgoolam, under whose leadership Mauritius has established good relations with Western and Arab countries, receiving aid, as well as with African countries (Madagascar in particular); relations with Great Britain, with which a defense agreement has been in force since 1968, have broken down due to the intention of re-discussing the sale, carried out in 1965, of the Chagos archipelago.

Even after the elections of December 1976 – which gave the majority relative to the WMM (34 seats out of 70) – Ramgoolam constituted the new government in a renewed coalition with the PMauritius In 1976 Mauritius hosted the OAU summit, of which Ramgoolam held the office of current president.

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