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2 Apr 2024 • Development

Revised FDI figures for 2022 further to FALS 2023

Following the Foreign Assets Liabilities Survey (FALS) conducted in 2023, the Bank of Mauritius has revised the estimates for Foreign Direct Investment (FDI) for the year 2022, in its latest data release on 29 March 2024.

The revised FDI flows in Mauritius in 2022, amounted to Rs 33.5 billion, of which Rs 9.2 billion was supplemented from FALS 2023. The figure excluding FALS previously stood at Rs 27.7 billion.

The FALS survey captures, amongst other data, the retained earnings, equity and shareholders’ loans of foreign owned companies. These account for re-investments made by the companies in their sector of activities.

Factoring this new yearly total, the Y-o-Y increase from 2021 to 2022 now averages 81% and the revised total, while remaining an all-time high figure at this point, also breaks the milestone of Rs 30 billion symbolically.

Figures for 2020-2022, source Bank of Mauritius - 2023 figures are estimates by EDB and excludes retained earnings

It is to be noted that the EDB expects this remarkable milestone to be surpassed by the inflows registered in 2023, which should exceed Rs 35 billion.

The re-investment of 2022 which amounted to Rs 9.1 billion, is some Rs 2.6 billion higher than the re-investments in 2021 (Rs 6.5 billion).

Furthermore, sectors which have registered significant increases, observed through the FALS survey, are manufacturing, ICT, hospitality and financial services. These four sectors averaged a combined share of 28% of the total inflow.

This is further evidence that the Mauritian economy has rebounded strongly post the Covid years and that the positive upward pull concerns all sector of activities. The same trend was observed in 2023 where all economic sectors experienced growth, contributing to a GDP growth of 7 %.

Moreover, public and private investment measured by the Gross Fixed Capital Formation grew by a notable 30.9% in 2023 after a growth of 7.8% in 2022, as per the latest figures published by Statistics Mauritius.

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