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Thursday, December 7, 2023

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Export-Oriented Enterprises Sector Grows Around 18% In 2022

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The performance of the Export-Oriented Enterprises (EOE) sector from January to June 2022 stood at Rs 23.43 billion as compared to some Rs 19.78 billion during the corresponding period in 2021, representing an increase of around 18%.

The Minister of Industrial Development, SMEs and Cooperatives, Mr. Soomilduth Bholah, provided this information on Tuesday, during a press conference focusing on the performance of the EOE sector, held in Port-Louis.

Mr. Soomilduth Bholah indicated that despite the prevailing challenging time, Mauritius has made a total export of Rs 12.5 billion in April-May-June 2022, compared to Rs 10.4 billion in the same period last year, representing an increase of 20.6%.

The Minister announced that after in-depth analysis of the market situation and relevant factors, the Ministry has forecasted a total export value of Rs 50 billion for this year, from January to December 2022.

Speaking about the increase in total EOE exports, the Minister attributed it due to the fact that export orders have been maintained, irrespective of the prevailing economic situation in our traditional markets (UK, France and South Africa). He observed that Mauritius is reputed as a reliable and preferred sourcing destination supplying branded and high-quality products to international buyers. Moreover, he added that enterprises have adopted sustainable and green practices that are meeting the growing exigencies of international clients seeking eco-friendly products.

Export-Oriented Enterprises sector (2)

He dwelt on the performance of key sub-sectors as follows:

  Jan-June 2021 Jan-June 2022 % Value Change
Textile Yarn & Fabrics 2,447 2,600 6.3
Wearing Apparel 6,954 7,764 11.6
Fish & Fish Preparations 5,032 5,324 5.8
Jewellery & Precious Stones 1,341 2,590 93.1
Medical Devices 669 949 41.9
Watches & Clocks 544 750 37.9
Others 2,796 3,457 23.6
TOTAL 19,783 23,434 18.5

Minister Bholah also attributed this performance to our enhanced export competitiveness following the positive impacts of support schemes such as Freight Rebate Scheme, for which since its introduction in 2014 to 31 July 2022, the amount disbursed stood at Rs 113.8 million to 97 beneficiaries) and the Support for Trade Promotion and Marketing Scheme, for which from 2016 to 31 July 2022, the amount disbursed stood at Rs 913.0 million to 105 manufacturing companies and 413 agro businesses).

The extensive use of export promotional activities and B2B meetings, said the Minister, equally played a key role. He informed that the EDB accompanied various local operators during their participation to important international trade events, such as the ‘Première Vision’ in France, “Prowein” in Germany and “Seafood Expo Global” in Spain , where they secured considerable orders.

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