1. The growth of GDP/GVA at basic prices for 2014 is estimated at 3.5%, same as in September 2014. Exclusive of sugar, the rate works out to 3.6%.
At industry level, the main changes compared to the figures published in September 2014 are:
(i) Agriculture, forestry and fishing: a growth of 5.4% instead of 6.4%, mainly due to lower than expected growth in fishing activities.
(ii) Manufacturing: a growth of 2.1% higher than the figure of 1.9% estimated earlier, mostly explained by a better performance of “Other manufacturing” (2.0% instead of 1.0%).
(iii) Accommodation and food service activities: a growth of 4.1%, higher than the 3.5% estimated earlier, based on revised tourist arrivals of 1,040,000 instead of 1,030,000.
(iv) Public administration and defence; compulsory social security: a growth of 5.7% instead of 3.1%, based on figures for first nine months of 2014.
Consumption and Saving
2. Final consumption expenditure of households and government grew by 3.0% in 2014, higher than the 2.3% in 2013, mainly explained by higher government final consumption expenditure. Gross Domestic Saving (GDS) as a percentage of GDP at market prices for 2014 works out to 11.6 compared to 11.8 in 2013.
3. Total investment continued to decline and dropped by -4.9% in 2014 after the -3.3% fall in 2013. Exclusive of aircraft and marine vessels, investment declined by -4.2% compared to -6.7% in 2013.
(i) Private sector investment dipped further by -7.4% in 2014 after a negative growth (-2.8%) in 2013. Exclusive of aircraft and marine vessels, the growth rate was -3.2% compared to -7.2% in 2013.
(ii) Public sector investment rebounded by 3.1% in 2014 after a contraction of -4.9% in 2013. The positive growth of 3.1% is mainly due to investment in Berth extension at Mauritius Container Terminal, Bagatelle Dam and acquisition of a patrol vessel. However, exclusive of aircraft and marine vessels, public sector investment declined by -7.5%.
(iii) Investment rate, defined as the ratio of investment to GDP at market prices is estimated 19.4% in 2014, lower than the figure of 21.2% in 2013.
(iv) Private investment rate decreased to 14.4% from 16.2% in 2013 and public investment rate remained at 5.0%.
(v) The share of the private sector in total investment decreased to 74.4% from 76.4% in 2013 while that of the public sector increased to 25.6% from 23.6%.