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Economics

At the beginning of the Sixties, the prospects for the economy Mauritian were completely dull. Caught in the trap of Malthusian of a population rapid growth and with approximately 30 percent of the population below the line of poverty, there were not many prospects for the economic growth and the standards of living. Economic prospects of the island were first of all related to the industry of the sugar, which explained approximately 34% of the GNP, contributed more to 95% of total earnings export and so more than 50% of total employment. Four decades later, the Mauritian economy evolved/moved considerably and is now more like “success story”. With annual growth rates more of 5 percent and per capita of an income exceeding $4,000, the Mauritian islands moved up to the levels of higher average income countries. Mauritius also saw diversification in its economic activities into Agriculture, manufacture and tourism emerged like three main sectors of the economy. The fourth sector of the economy, the banking services, which represents approximately 12 percent of total output, has increased because at sea making in the Mauritius a honourable centre and finances as well as a regional hub. Political and social stability, the continuity of policy and the constant developments of infrastructure were among the other factors, which attracted the foreign investment to develop the Export Processing Zone (EPZ) and later tourism. The Mauritius also drew benefit from the various arrangements established with its principal trade partners. The economic performance of the Mauritius during the last decade established as a one of the healthy economies in the African area. The country gained 2nd in the index of competitiveness according to Africa Competitiveness Index Competitiveness Report 2000. Mauritius can be seen as the wealthiest when included in the list of all African states in terms of citizen wealth, or per capita income. Its economic size however is not as large as that of say, South Africa, Nigeria or Libya.

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