The Engaging Economy of Mauritius

Mauritius is an island country with an attractive economy. Over the years, Mauritius has been regarded as a low income country but that particular trend is changing because of the enterprising reforms carried out by the government of Mauritius.

Mauritius economy is quite attractive in the sense that it is mainly an agriculture oriented nation coupled with increasing industrialization of the country. So let us take a brief look into the economy of Mauritius, the contribution from various sectors and also learn much more about the financial status of this island country.

Growth Rate of Mauritius:

Since this is a developing nation, (partly under-developed as well) the growth rate of Mauritius isn’t that convincing as many would think. Still this country has a fairly good GDP growth rate of about 5.2%. The GDP of this nation as of 2008 was 15.36 billion dollars.

The financial debacle year i.e. 2009 did not have much impact on the economy of Mauritius. The reason is that this country is mainly agriculture dependent and most of their exports are agricultural products and fisheries rather than the IT sector.

Still there were certain hiccups in terms of the balance of the economy of this country in the year 2009, but the effect of the impact was only marginal.

The Population Factor:

As said earlier, this country is still a developing nation with agriculture as its forte; the labor force is one of the defining aspects of Mauritius economy. Most of the working populations are labors and they are involved in agriculture (sugarcane and sugar milling industry, textiles etc) or fishing related jobs. The estimated number of labor force in Mauritius is about 580, 000 and may be this is one reason for this country to have a very slow rate of increase of their economy.