Debt-sustainability concerns require monitoring

B3

SENSITIVE RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Last updated in August 2022.

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GDP USD11.2bn (World ranking 144, World Bank 2021)
Population 1.27mn (World ranking 156, World Bank 2021)
Form of state Parliamentary Democracy
Head of government Pravind Kumar Jugnauth
Next elections 2024, legislative and presidential
  • Well-developed and stable political system with regular peaceful transfers of power.
  • Solid track record with regards to policy implementation.
  • Few ethnic/religious tensions, despite significant cultural diversity.
  • Strong inward FDI inflows, driven by supportive general business environment.
  • Ranked by international agencies as the best Sub-Saharan economy for ease of doing business and in relation to economic freedoms.
  • The country has not required a financial facility from the IMF since the mid-1980s.
  • Subject to adverse weather conditions (including periodic cyclones).
  • Small island state dependent on external trade and therefore vulnerable to external shocks. Finance and trade links with Europe remain strong and economic prospects depend on the strength of that region.
  • Unemployment is high and there is a shortage of skilled labor.
  • Very high public debt
  • Large current account deficits

Trade structure by destination/origin

(% of total, 2021)

Exports Rank Imports
South Africa 11.8%
1
17.8% China
France 11.5%
2
15.6% India
UnitedKingdom 7.8%
2
8.6% United Arab Emirates
United States 6.9%
4
8.0% South Africa
Madagascar 6.6%
5
6.7% France

Trade structure by product

(% of total, 2021)

Exports Rank Imports
Articles of apparel & clothing accessories 21.1%
1
14.1% Petroleum, petroleum products and related materials
Fish, crustaceans, molluscs and preparations thereof 14.8%
2
6.1% Road vehicles
Sugar, sugar preparations and honey 8.6%
3
4.7% Medicinal and pharmaceutical products
Textile yarn and related products 6.9%
4
4.4% Fish, crustaceans, molluscs and preparations thereof
Miscellaneous manufactured articles, n.e.s. 4.2%
5
4.1% Non metallic mineral manufactures, n.e.s.
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