Mauritius Banking Services and Financial Information, List of Mauritius Banks

Mauritius Commercial Bank

State Bank of Mauritius

Barclays Bank

Indian Ocean International Bank

Bank of Baroda

Bramer Banking Corporation

Habib Bank

Bank One Mauritius

Mauritius Post & Cooperative Bank

Banque des Mascareignes

Investec Bank

SBI International Mauritius

Standard Bank

Standard Chartered Bank

Deutsche Bank

HSBC Bank

PT Bank International

AfrAsia Bank

Economy—overview: Since independence in 1968 Mauritius has developed from a low income agriculturally based economy to a middle income diversified economy with growing industrial financial services and tourist sectors. For most of the period annual growth has been of the order of 5% to 6%. This remarkable achievement has been reflected in increased life expectancy lowered infant mortality and a much improved infrastructure. Sugarcane is grown on about 90% of the cultivated land area and accounts for 25% of export earnings. The government's development strategy centers on industrialization (with a view to modernization and to exports) agricultural diversification and tourism. Economic performance in 1991-97 continued strong with solid growth and low unemployment.

 

GDP: purchasing power parity—$11.7 billion (1996 est.)

 

GDP—real growth rate: 5.4% (1996 est.)

 

GDP—per capita: purchasing power parity—$10 300 (1996 est.)

 

GDP—composition by sector:

 

agriculture: 8%

 

industry: 29%

 

services: 63% (1996)

 

Inflation rate—consumer price index: 6.5% (1996)

 

Labor force:

 

total: 514 000 (1995)

 

by occupation: construction and industry 36% services 24% agriculture and fishing 14% trade restaurants hotels 16% transportation and communication 7% finance 3% (1995)

 

Unemployment rate: 1.8% (1995)

 

Budget:

 

revenues: $822 million (FY 94/95)

 

expenditures: $1 billion including capital expenditures of $198 million (FY95/96 est.)

 

Industries: food processing (largely sugar milling) textiles wearing apparel; chemicals metal products transport equipment nonelectrical machinery; tourism

 

Industrial production growth rate: 5.8% (1992)

 

Electricity—capacity: 361 000 kW (1995)

 

Electricity—production: 960 million kWh (1995)

 

Electricity—consumption per capita: 852 kWh (1995)

 

Agriculture—products: sugarcane tea corn potatoes bananas pulses; cattle goats; fish

 

Exports:

 

total value: $2.318 billion (f.o.b. 1996 est.)

 

commodities: clothing and textiles 55% sugar 24% (1995)

 

partners: UK 34% France 21% US 15% Germany 6% Italy 4% (1995)

 

Imports:

 

total value: $2.2 billion (c.i.f. 1996 est.)

 

commodities: manufactured goods 37% capital equipment 19% foodstuffs 13% petroleum products 8% chemicals 7% (1995)

 

partners: France 20% India 8% Hong Kong 7% UK 6% Germany 5% (1995)

 

Debt—external: $1.2 billion (1996 est.)

 

Economic aid:

 

recipient: ODA $NA

 

Currency: 1 Mauritian rupee (MauR) = 100 cents

 

Exchange rates: Mauritian rupees (MauRs) per US$1—22.220 (January 1998) 20.561 (1997) 17.948 (1996) 17.386 (1995) 17.960 (1994) 17.648 (1993)

 

Fiscal year: 1 July—30 June