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Mauritius’ economy may expand only by 5% this year, as against 8.7% growth in 2022. The contraction in growth is mainly due to the lackluster performance of the manufacturing sector.
Mauritius’ economy may expand only by 5% this year, as against 8.7% growth in 2022. The contraction in growth is mainly due to the lackluster performance of the manufacturing sector.
The manufacturing sector was expected to grow by 3.5% as against 10.4% in 2022. However, the Statistics Mauritius office did not adduce any reasons for slow growth in the manufacturing sector. Analysts opine that this could be due to the factors emanating from the Covid-19 pandemic, when processing food articles particularly fish was in limbo.
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The Mauritius market is a link between Africa and Asia. The major manufacturing segments in the Indian Ocean Island Nation are sugar, textiles and tourism, financial services, manufacturing, business outsourcing, and luxury real estate.
