In The performance of the Export Oriented Enterprises (EOE) sector for the first quarter of 2022 was highlighted by the Minister of Industrial Development, SMEs and Cooperatives, Mr Soomilduth Bholah, during a press conference held, yesterday, at the seat of the Ministry in Port Louis.
At the outset, Minister Bholah spoke of the rate of inflation in Mauritius for 12 months ending March 2022 which stood at 6.0% compared to 2.2 % during the previous corresponding period, due to upward price pressures arising from soaring energy prices and food items. Inflationary pressures in Mauritius, he stated, will continue to be impacted by ongoing geopolitical tensions in Eastern Europe, global supply-chain disruptions and the prevailing COVID-19 pandemic.
Speaking of the period January to March 2022, the Minister pointed out that the EOE exports stood at around Rs 10.94 billion as compared to some Rs 9.43 billion during the corresponding period in 2021, representing an increase of 16.0%. “The EOE exports to our main destinations, namely South Africa, United Kingdom, USA and France have increased by 13.6%, 1.4%, 44.8% and 36.5%, respectively”, he said.
Exports of Textile and Clothing, the Minister stated, have increased from around Rs 4.65 billion to some Rs 5.08 billion representing an increase of 9.1% for the period January to March 2022. The Exports of textile yarn and fabrics surged by 24.2% in terms of value, despite having recorded a drop by 2.7% in terms of volume compared to the same period in 2021. The positive performance of the Textile and Apparel sub-sector is attributed to an increase in exports by major operators, he emphasised.
As for the exports of Fish and Fish preparations, he observed that there is a decline from Rs 2.58 billion to Rs 2.44 billion representing a drop of 5.4% which is attributed to the fact that buyers are not stocking up due to a tendency of re-sellers to source from cheaper countries such as Thailand and Ecuador.
The Minister noted that the exports of Jewellery/Pearls, Precious and Semi-precious Stones increased from Rs 0.49 billion to Rs 1.17 billion representing an impressive increase of around 139% attributed to an increase in exports by major operators. Regarding the exports of Medical Devices, he stated that they have increased from Rs 277 million to Rs 379 million representing an increase of 36.8%, attributed mainly to an increase in orders of three major players.
The major achievements of the Industrial Development Division including a two-day National Policy Dialogue on the Manufacturing Sector in March 2022 and the launching of the Industrial Waste Management – Cost Structure Review were brought forth by the Minister.
Minister Bholah also elaborated on the situation in year 2021 whereby the EOE sector contributed about 4.4% to Gross Value Added (GVA) accounting for around 70 % of total exports, excluding sugar. In the same year, the EOE sector comprised 233 enterprises and provided employment to 35,024 workers, out of which 15,116 were expatriates, added the Minister.
