Mauritius April trade deficit down 12 pct

PORT LOUIS (Reuters) - Mauritius' balance of visible trade recorded a deficit of 5.05 billion rupees in April, lower by 12.1 percent on the same month the previous year, according to official data on Friday.

Total trade inflows fell 6.9 percent in April compared with the year before while exports fell 0.9 percent, continuing a sharp contraction of the import-dependent island's current account deficit.

"Balance of visible trade showed a deficit of 5,047 million rupees in April 2009, higher by 21.7 percent compared to the previous month but lower by 12.1 percent compared to the corresponding month of the previous year," the Central Statistics Office (CSO) said in a statement.

Mauritius' current account deficit narrowed sharply during the first quarter of 2009 from the year before, with the Indian Ocean island's slowing economy showing a hefty fall in imports.

Total imports for Q1 2009 decreased by 17.9 percent to 23.73 billion rupees versus the year-ago period. Exports registered a marginal decline of 0.3 percent.

A Reuters poll of analysts expects the $9 billion economy to expand by 2.3 percent this year, down from growth of above 5 percent in the last three years, as exports slow and the global downturn depresses local demand.

Economic prospects for the palm-fringed island - best known for its white sand beaches and luxury spas - have become steadily more pessimistic for the year 2009, largely in response to the poor outlook for tourism, textiles and foreign investment.

The government has approached both the International Monetary Fund (IMF) and African Development Bank (AfDB) for precautionary loans. However, Finance Minister Ramakrishna Sithanen insisted the economy is not in danger.