Lower import costs reduce Mauritius’ trade deficit

Mauritius’s visible trade deficit fell 25.8 percent in June from the same month last year due mainly to lower import costs, official data showed on Friday.

The Central Statistics Office (CSO) said total imports fell in June by 15.9 percent versus the same period of the year previous. Exports also fell 4.1 percent against June 2008 but rose 5.0 percent against a month earlier.

“(The) balance of visible trade showed a deficit of 4,669 million rupees in June 2009, higher by 4.6 percent compared to the previous month but lower by 25.8 percent compared to the corresponding month of the previous year,” CSO said in a statement.

The total import bill for June was 9.71 billion rupees.

Mineral fuels, lubricants and related materials led the fall in import costs, tumbling 59.67 percent to 1.31 billion rupees.

In June 2008 oil prices were surging towards a record high price of over $147 a barrel. Oil on Friday touched a high for this year above $74 a barrel.

Imports of manufactured goods fell by 15.51 percent to 1.7 billion rupees. Exports totalled 5.05 billion rupees.

“The UK was our major exports destination in June 2009 (25.7 percent) while the bulk of our imports were from India (16.2 percent) and China (13.0 percent),” CSO said.

Source: Reuters