Despite its small size, low bequest of natural resources, Mauritius has evolved into a successful export-oriented country. In the 1970’s, farsighted policy makers put forward the idea that Mauritius presented a likely opportunity to develop an export-oriented industry. Today, while textile still remains a major component of its export sector, Mauritius has successfully diversified into different other sectors such as Fish & Fish products, Jewellery, Watches & Diamonds, Optical goods, Chemical products, among others.
Contribution to the Economy
The intensification of the Euro Crisis in the first quarter of 2012 and the fiscal disorders in the United States impacted on the export-led sectors. Yet, our export sector experienced a growth rate of 2.8% over the year 2012.
Though a number of reasons have been expounded to explain the growth of the export sector in Mauritius, the focus on international trade has been a critical element of that growing performance. Indeed, Mauritius has a strong pro-trade orientation with preferential trade access and tariff- free access to the main trading markets, like Europe and the USA, coupled with relaxed labour market regulations.