:
Since independence in 1968, Mauritius has developed from
a low-income, agriculturally based economy to a middle-income
diversified economy with growing industrial, financial, and tourist
sectors. For most of the period, annual growth has been in the order
of 5% to 6%. This remarkable achievement has been reflected in
increased life expectancy, lowered infant mortality, and a
much-improved infrastructure. Sugarcane is grown on about 90% of the
cultivated land area and accounts for 25% of export earnings. The
government's development strategy centers on foreign investment.
Mauritius has attracted more than 9,000 offshore entities, many
aimed at commerce in India and South Africa, and investment in the
banking sector alone has reached over $1 billion. Economic
performance since 1991 has continued strong with solid growth and
low unemployment.
Mayotte:
Economic activity is based primarily on the agricultural
sector, including fishing and livestock raising. Mayotte is not
self-sufficient and must import a large portion of its food
requirements, mainly from France. The economy and future development
of the island are heavily dependent on French financial assistance,
an important supplement to GDP. Mayotte's remote location is an
obstacle to the development of tourism.
Mexico:
Mexico has a free market economy with a mixture of modern
and outmoded industry and agriculture, increasingly dominated by the
private sector. The number of state-owned enterprises in Mexico has
fallen from more than 1,000 in 1982 to fewer than 200 in 2000. The
ZEDILLO administration privatized and expanded competition in
seaports, railroads, telecommunications, electricity, natural gas
distribution, and airports. A strong export sector helped to cushion
the economy's decline in 1995 and led the recovery in 1996-2000.
Private consumption became the leading driver of growth in 2000,
accompanied by increased employment and higher real wages. Mexico
still needs to overcome many structural problems as it strives to
modernize its economy and raise living standards. Income
distribution is very unequal, with the top 20% of income earners
accounting for 55% of income. Trade with the US and Canada has
tripled since NAFTA was implemented in 1994. Mexico completed free
trade agreements with the EU, Israel, El Salvador, Honduras, and
Guatemala in 2000, and is pursuing additional tra
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