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TIME: Almanac 1990
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1990 Time Magazine Compact Almanac, The (1991)(Time).iso
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mauritiu.4
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1991-04-08
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Economy
Overview: The economy is based on sugar, manufacturing (mainly
textiles), and tourism. Despite significant expansion in
other sectors over the past decade, sugarcane remains dominant
and is grown on about 90% of the cultivated land area, accounting
for 40% of export earnings. The government's development
strategy is centered on industrialization (with a view to
exports), agricultural diversification, and tourism. Economic
performance in 1988 was impressive, with 6.3% real growth
rate and low unemployment.
GDP: $1.9 billion, per capita $1,910; real growth rate 6.3% (1988).
Inflation rate (consumer prices): 9.2% (1988).
Unemployment rate: 3.6% (1988).
Budget: revenues $351 million; expenditures $414 million,
including capital expenditures of $76 million (FY87 est.).
Exports: $1.0 billion (f.o.b., 1988); commodities--textiles
44%, sugar 40%, light manufactures 10%; partners--EC and US
have preferential treatment, EC 77%, US 15%.
Imports: $1.3 billion (c.i.f., 1988); commodities--manufactured
goods 50%, capital equipment 17%, foodstuffs 13%, petroleum
products 8%, chemicals 7%; partners--EC, US, South Africa, Japan.
External debt: $670 million (December 1989).
Industrial production: growth rate 12.9% (FY87).
Electricity: 233,000 kW capacity; 420 million kWh produced,
375 kWh per capita (1989).
Industries: food processing (largely sugar milling), textiles,
wearing apparel, chemical and chemical products, metal products,
transport equipment, nonelectrical machinery, tourism.
Agriculture: accounts for 14% of GDP; about 90% of cultivated
land in sugarcane; other products--tea, corn, potatoes,
bananas, pulses, cattle, goats, fish; net food importer,
especially rice and fish.
Illicit drugs: illicit producer of cannabis for the international
drug trade.
Aid: US commitments, including Ex-Im (FY70-88), $72 million;
Western (non-US) countries (1970-87), $538 million; Communist
countries (1970-88), $54 million.
Currency: Mauritian rupee (plural--rupees); 1 Mauritian
rupee (MauR) = 100 cents.
Exchange rates: Mauritian rupees (MauRs) per US$1--15.033
(January 1990), 15.250 (1989), 13.438 (1988), 12.878 (1987),
13.466 (1986), 15.442 (1985).
Fiscal year: 1 July-30 June.