Exports down by 13% in first semester 2016

The trade deficit is widening. In the first semester of 2016, the deficit has worsened by about 6.9% compared to the same period last year. The main reason for this is a drop in exports. 

For the first six months of this year, the deficit rose to about Rs 35.6 billion, against Rs 32.9 billion in 2015. The import bill on its side reached Rs 77.9 billion. Our exports brought Rs 42.3 billion to local companies. These figures have been released by Statistics Mauritius on Monday. 

The trade deficit is the difference between the amount paid for imports and export earnings. The trade balance is always negative because Mauritius is a net importer of food, equipment and petroleum products. To reduce this deficit, Mauritius is expected to produce more to meet local demand and export more products. 

On the other hand, total exports have also fallen. Compared to the first semester of 2015, the decline was of 13.4%. Imports under the item of food and live animals rose to a provisional amount of Rs 16 billion, that is an increase of 9,4% compared to 2015.