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The Trade Deficit 2023 Is Forecasted At Around Rs 205 Billion, 9.6% Higher Than In 2022

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Statistics Mauritius has released its latest release report concerning external Trade for the 2nd Quarter 2023. The trade deficit 2023 is forecasted at around Rs 205 billion, 9.6% higher compared to around Rs 187 billion in 2022.

It seems that total external merchandise trade for the second quarter of 2023 was valued at Rs 97,821 million, i.e. 7.5% higher than the value of Rs 91,021 million of the previous quarter and 5.0% lower than the value of Rs 102,962 million of the corresponding quarter of 2022.

For the second quarter of 2023, total exports (inclusive of ship’s stores & bunkers ) were valued at Rs 25,176 million against total imports of Rs 72,645 million. The resulting trade deficit for the second quarter of 2023 worked out to Rs 47,469 million, 17.9% higher than the deficit of Rs 40,263 million of the previous quarter and 1.3% lower than the deficit of Rs 48,106 million of the corresponding quarter of 2022.

Compared to the corresponding semester of 2022, re-exports increased by 14.5% in the first semester of 2023. This increase was mainly due to a rise in “Machinery and transport equipment” (+59.8%), “Food and live animals” (+15.5%), “Miscellaneous manufactured articles” (+7.8%) and “Chemicals and related products, n.e.s.” (+4.6%), partly offset by a decrease in “Manufactured goods classified chiefly by material” (-7.4%).

Statistics Mauritius - Trade Deficit 2023

Analysis of exports figures by country of destination for the second quarter of 2023 showed that the European countries were our main buyers, purchasing some 45.7% of our exports for a value of Rs 9,415 million. Among countries, the major destinations for our exports were France (10.6%), South Africa (10.1%), U.S.A. (9.1%), United Kingdom (8.8%), Spain (7.2%), Madagascar (6.7%), Italy (6.4%) and Reunion (4.0%).

Compared to the corresponding quarter of 2022, changes in exports to main markets were Italy (+107.3%), Spain (+37.4%), Reunion (+14.4%), U.S.A. (+11.2%), France (+11.1%), Madagascar (-31.6%), South Africa (-17.2%) and United Kingdom (-7.0%).

Total imports for the second quarter of 2023 amounted to Rs 72,645 million, showing an increase of 10.7%, compared to the previous quarter. This is mainly due to increases in imports of “Beverages and tobacco” (+94.2%), “Miscellaneous manufactured articles” (+23.1%), “Machinery and transport equipment” (+22.1%), “Food and live animals” (+13.3%), “Chemicals and related products” (+9.0%) and “Manufactured goods classified chiefly by material” (+8.9%), partly offset by a decrease in the imports of “Mineral fuels, lubricants and related materials” (-12.1%).

During the second quarter of 2023, our imports originated from five main countries, namely: China (15.5%), U.A.E. (12.5%), India (7.9%), South Africa (7.1%) and France (5.6%)

Among continents Asia was our main supplier with a share of Rs 37,283 million, representing 51.3% of total imports.

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