Agriculture occupies around 44% of the arable land area. Land under agricultural production has declined drastically. In 2002, land under agricultural cultivation was estimated to be approximately 80,000 hectares, of which sugar accounted for 90%, tea 1%, other crops 9%.
The contribution of agriculture in the economy has decreased over the years from 23% in the late 70s to 16% in 1983 and 6% in 2000. Sugarcane constitutes the bulk of this share with 53%. Food-crops account for 17%, livestock 12%, while flowers, fruits and forestry account for the remaining 4% of the share of Agriculture in the GDP.

From a mono-crop economy in early 1970s, Mauritius has transformed its economy. The main pillars of the economy are tourism, textile, financial and recently information technology has joined in.

The Manufacturing landscape constitutes an integral part of the Mauritian economy and remains a priority sector for the Government towards becoming a high-income economy. In 2017, the manufacturing industry contributed 13.4% to GDP, representing an amount of MUR 54,328 million. The breakdown in terms of sub sector contribution are: Food (excl. sugar) 35%, Textile 29%, Sugar 1% and Other Manufacturing Activities 35%. In terms of employment, the manufacturing industry employed 97,600 people in 2017, representing around 20% of total employment.

The Mauritian manufacturing sector has greatly diversified since the early 1970s and now regroups some renowned companies covering a wide range of activities such as textile, food industry, high-end jewellery and medical devices. In fact, over the years the manufacturing sector has experienced a shift from traditional manufacturing to high value-added manufacturing, through the adoption of technology and automated processes.

Economic Importance

Tourism, third pillar of the economy after the E.P.Z. manufacturing sector and Agriculture, contributes significantly to economic growth and has been a key factor in the overall development of Mauritius. In the past two decades tourist arrivals increased at an average annual rate of 9 % with a corresponding increase of about 21% in tourism receipts. In 2000, gross tourism receipts were 14.2 billion rupees (508.3 million US $) and contributed to about 11 % of our GDP. Tourism may be called to play an even more important role in the wake of the After-GATT Agreements.

Global Business

The Global Business sector in Mauritius has developed significantly since it was first conceived in 1992, and has now become one of the main pillars of the economy, offering a range of sophisticated financial products, such as global collective investment schemes, specialised collective investment schemes, closed-end funds, expert funds, CIS management, and investment dealers, amongst others.
It is estimated that the Global Business sector, directly and indirectly, accounts for around 15,000 jobs on the island, with young graduates and professionals representing around one third of these.

Global Funds

Mauritius has a strong track record as a domicile for global funds, serving the needs of Development Finance Institutions (DFIs), sovereign wealth funds as well as international investors. Mauritius is now home to over a thousand funds, and is well reputed for providing an efficient and high quality service in fund management and administration.
Global funds can be structured either as open-ended investment companies, which fall under the Collective Investment Schemes category, or closed-end companies, which are often described as Private Equity funds. Global funds which are domiciled in Mauritius are able to take advantage of all of the benefits available to Global Business Companies.
Global Funds which are domiciled in Mauritius are also able to benefit from the flexible listing rules of the Stock Exchange of Mauritius, which is one of the leading platforms in Africa, and a member of a number of international bodies, including the World Federation of Exchanges, South Asian Federation of Exchanges, African Securities Exchanges Association and the Committee of SADC Stock Exchanges.

Capital Markets

The capital markets segment in Mauritius represents one of the most vibrant sectors of the economy, providing a dynamic securities market and world class trading facilities. The trade of fixed interest securities and equity normally takes place through market intermediaries, regulated as investment dealers. It is the second largest market in the African region.
The Stock Exchange of Mauritius (SEM), launched in 1989, operates two markets: the Official Market and the Development & Enterprise Market (DEM). Currently, there are 51 companies listed on the Official Market representing a market capitalisation of nearly US$ 9.2 billion as at 30 November 2016. There are presently 43 companies listed on the DEM market with a market capitalisation of nearly US$ 1.3 billion as at 30 November 2016. Most recently, in December 2016, SEM has launched dual currency trading and settlement on foreign currency denominated financial instruments that will be listed on SEM’s platform
The SEM aspires to emerge as a capital raising platform for Africa-focused investments routed through the Global Business Sector and the SEM platform will increasingly be used to channel investment flows from South Africa/Europe/Asia into Africa and from USA/Europe into Asia. The SEM has won the ‘Most Innovative Stock Exchange in Africa Award’ three times in five years.

The key to the ICT sector development has been the formulation of National Strategic Plans since 1998 and the enactment of major legislations which are subjected to regular reviews to adapt to the changing ICT landscape and making the ICT environment appealing for attracting flagship companies which in turn would create economic opportunities for the citizens.