Current account deficit narrows in Q3

December 15, 2015 6:18 AM

The merchandise trade deficit fell by 19.4 percent to 18.41 billion rupees. Exports declined 1.9 percent year-on-year and imports dropped 9.3 percent.

View of the harbour of Port Louis on the Indian Ocean island Mauritius, August 5, 2015. Picture taken August 5, 2015. REUTERS/Jacky Naegelen

Mauritius' current account deficit narrowed in the third quarter compared with the same period last year, helped by a lower merchandise trade deficit, central bank data showed.

The deficit fell to 5.29 billion rupees ($146.99 million)from 8.28 billion rupees ($230.06 million) a year earlier. As a percentage of GDP, the deficit stood at 5.3 percent against 8.7 percent in the third quarter of 2014.

"The decline in the value of imports of goods reflected essentially lower value of imports of 'mineral fuels, lubricants & related products' as a result of lower oil prices, and the fall in imports of 'machinery and transport equipment'," the bank said in a statement.

The bank said it has revised down its current account deficit figures for the first and second quarters after it improved its collection of tourism earnings data.

The current account deficits for the first and second quarter decreased to 6.04 billion rupees and 5.07 billion rupees from 6.78 billion rupees and 5.18 billion rupees, respectively.

($1 = 35.9900 Mauritius rupees)

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