The construction industry's contribution to GDP grew from 5.3 percent in 1987 to about 7.6 percent in 1992, thanks to investment in housing, roads, hotels, factories, and a new airport terminal. Average annual real growth in the construction sector between 1989 and 1992 has been around 10 percent. In 1992 an estimated 10,600 persons were employed in the industry, accounting for about 3.7 percent of total employment.
The Bank of Mauritius, established in 1966, is the country's central bank. Twelve commercial banks (eight of them foreignowned ) operate in the country; the three major ones are the State Commercial Bank, Barclays, and the Mauritius Commercial Bank. Other financial institutions include the Mauritius Housing Corporation, the State Finance Corporation, and the Development Bank of Mauritius. The national currency is the Mauritius rupee (MauR), whose March 1993 exchange rate with the United States dollar was 16.68:1.
Data as of August 1994