5.4%. This is the estimated growth rate for the calendar year 2021 by Statistics Mauritius in the national accounts published this Wednesday, July 30. A 1% increase from its projection of 4.4% of gross domestic product (GDP) shown in the first version of the National Accounts Estimates, released Monday, July 28.
Reasons given: an observed performance of the main economic sectors in the first quarter of 2021, coupled with the measures announced in the 2021-22 Budget. This growth rate of 5.4% of GDP (estimated at Rs 463.7 billion) is higher than that estimated by MCB Focus calculated at 4.7%, while the 2021-22 Budget provides that the GDP will grow by 9 % for the fiscal year ending June 2022.
Statistics Mauritius is based on strong growth in the construction sector, 25.2% in 2021 against a contraction of 25.8% last year, to support this increase in growth in 2021. A performance driven by the launch of private projects, including the construction of smart cities and hotels during the second half of the year, while continuing current projects.
At the same time, agribusiness will grow by 6.8%, followed by a decline of 2.5% last year. To this end, it should be noted that, according to the estimate of Statistics Mauritius, the cane activity will register a growth of 2% on the basis of a production of 275,000 metric tons.
At the same time, the textile and clothing sector will be called upon to rebound with growth of 18.5%. Last year it contracted 28.6%. As for the tourism and catering sector, a resumption of activity is expected with 4.4% growth based on the presence of 325,000 tourists in 2021 with the reopening of borders. The first version of the National Accounts Estimates had bet between 150,000 and 160,000 tourist arrivals.