Mauritius current account deficit narrows in Q3

Textiles worker Rivo Rakotoarisoa from Madagascar works at a factory belonging to Ciel Textile near Balaclava in northern Mauritius in a file photo. REUTERS/Ed Harris·Reuters· (Reuters)

PORT LOUIS (Reuters) - Mauritius' current account deficit narrowed in the third quarter compared with the same period of last year, as a surplus in the services account more than trebled, the central bank said. The deficit shrank 11.3 percent to 10.72 billion rupees ($340.3 million). The merchandise trade deficit fell to 17.42 billion rupees from 17.60 billion, with exports up 17.2 percent and imports 9.1 percent. Foreign direct investment on the Indian Ocean island, which markets itself as a bridge between Africa and Asia, was at 10.09 billion rupees in the nine months to September, the bank said. Investment was mainly directed towards the real estate sector, which got 4.32 billion rupees, followed by accommodation and food service activities, which got 3.26 billion. France was the biggest investor 2.63 billion rupees followed by South Africa with 904 million. ($1 = 31.5000 Mauritius rupees)

Advertisement