Statistics Mauritius announced Saturday that the island’s economy will grow by 3.7 per cent in 2014, compared to 3.2 per cent this year.
It said sugar production on the island will reach 410,000 tons in 2014, resulting in a growth of 0.6 per cent.
Also, the manufacturing sector will expand by around 2.6 per cent, lower than the 3.1 per cent growth recorded in 2013.
Textile will grow by 2 per cent, same as in 2013, the construction sector is expected to decline by -2 per cent after contracting by -9.4 per cent in 2013 and financial and insurance activities will grow by 5.2 per cent.
Statistics Mauritius said the figures for 2013 show that the GDP growth rate for the year would be 3.2 per cent, lower than 3.4 per cent in 2012.
In 2013, according to the office, sugar production reached 407,000 tons; manufacturing grew by 3.1 per cent; information and communications sector by 7.1 per cent and financial and insurance activities 5.4 per cent.
It further said the Gross National Saving (GNS) declined from 14.7 per cent in 2012 to 13.7 per cent in 2013, while investments fell by around -4.3 per cent in 2013 compared to -0.8 per cent in 2012.
Meanwhile, imports of goods and services reached US$7.2 billion in 2013, compared to US$6.9 billion in 2012, representing an increase of 4.9 per cent.
Exports of goods and services increased by 5.7 per cent to US$6 billion in 2013 from US$5.6 billion in 2012.
It said net exports of goods and services would thus result in a deficit of US$1.26 billion in 2013, compared to US$1.24 billion in 2012.