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Mauritius Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
1,364,283 (July 2018 est.)GDP (PPP)
$28.27 billion (2017 est.)The economy currently depends on sugar, tourism, textiles and apparel, and financial services, but is expanding into fish processing, information and communications technology, education, and hospitality and property development. Sugarcane is grown on about 90% of the cultivated land area but sugar makes up only around 3-4% of national GDP.
GDP growth rate
3.8% (2017 est.)After several years of slow growth, government policies now seek to stimulate economic growth in five areas: serving as a gateway for international investment into Africa; increasing the use of renewable energy; developing smart cities; growing the ocean economy; and upgrading and modernizing infrastructure, including public transportation, the port, and the airport.
GDP (PPP) per capita
$22,300 (2017 est.)Since independence in 1968, Mauritius has undergone a remarkable economic transformation from a low-income, agriculturally-based economy to a diversified, upper middle-income economy with growing industrial, financial, and tourist sectors.
Local currency
Mauritian rupee (MUR)Stable currency.
Financial stability (Public debt)
64% of GDP (2017 est.)Mauritius' sound economic policies and prudent banking practices helped mitigate negative effects of the global financial crisis in 2008-09. GDP grew in the 3-4% per year range in 2010-17, and the country continues to expand its trade and investment outreach around the globe. Mauritius continues to rank as one of the most business-friendly environments on the continent and passed a Business Facilitation Act to improve competitiveness and long-term growth prospects. A new National Economic Development Board was set up in 2017-2018 to spearhead efforts to promote exports and attract inward investment.
Inflation
3.7% (2017 est.)Growth in the US and Europe fostered goods and services exports, including tourism, while lower oil prices kept inflation low.
Language
Creole 86.5%, Bhojpuri 5.3%, French 4.1%, English 1%English is generally accepted as the official language of Mauritius as it is the language of government administration, the courts and business sector. The dominant language in the mass media (newspapers, magazines, radio and TV), as well as in corporate and business dealings is French.
Corruption perception index (Source: Transparency International)
56/180Medium to high, though among the lowest in Africa.
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
15%Exemptions apply to wheat, healthcare, education, banking, among others.
Corporate Tax
15%Mauritius provides an 80% partial exemption in relation to certain specific foreign-source income (dividends, interests, rental/leasing income, insurance)
Duties
N/ACustoms duty is levied on commodities imported into Mauritius. The rate of duty applicable is the rate in force under the Customs Tariff Act at the time the bill of entry is validated at the Customs. A number of exemptions and concessions are available to industries, organisations, and persons under the Customs Tariff Act.
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