PORT LOUIS (Reuters) - Mauritius' economy should expand at a faster pace in 2013 helped by growth in manufacturing and financial services, though its progress will remain heavily dependent on events in Europe, its statistics office said.
Gross domestic product should rise 3.7 percent, up from expected growth of 3.3 percent in 2012, Statistics Mauritius said on Friday.
The Indian Ocean island, which markets itself as a bridge between Africa and Asia, is shifting an economy traditionally focused on sugar, textiles and tourism towards offshore banking, business outsourcing, luxury real estate and medical tourism.
The GDP forecast for 2012 - raised from a previous 3.2 percent - matches the central bank's view but is a touch lower than Finance Minister Xavier Duval's projection of 3.4 percent.
Last month Duval forecast growth of 4 percent next year.
The statistics office said its 2013 forecast did not take into account possible economic deterioration in Mauritius' main export market, the European Union.
But it said a recovery in that market coupled with full implementation of local budget measures, especially in public infrastructure, would result in growth of 3.9 percent in 2013.
The statistics office said the unemployment rate was stable at 7.9 percent in the third quarter compared to a year ago but was down from 8.2 percent in the previous quarter of 2012.
Earlier in the day, the office said the trade deficit narrowed 0.9 percent to 8.02 billion rupees in October from a year ago on higher exports.
Source: http://news.yahoo.com/mauritius-trade-deficit-narrows-0-9-pct-october-073142485--business.html
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