Mayotte shows growth of 8.4% in 2022 but inflation slows down the purchasing power of the Mahorais

Mayotte shows growth of 8.4% in 2022 but inflation slows down the purchasing power of the Mahorais
Mayotte shows growth of 8.4% in 2022 but inflation slows down the purchasing power of the Mahorais

Despite an unprecedented inflationary context marked by a 5% price increase, Mayotte's gross domestic product (GDP) increased by 8.4% in 2022, reaching 3.1 billion euros, according to INSEE data. . This result follows the 11.5% rebound observed in 2021 after the health crisis, confirming the resilience of the Mahorean economy.

Public administrations remain the main drivers of this growth. They represent 50% of GDP thanks to an increase in the wage bill, driven by the increase in the index point in the public service and investments in infrastructure, such as schools and hospitals.

Household consumption also increased by 7%, supported by a 9% increase in disposable income, linked to salary increases and social assistance. However, inflation has neutralized this increase, leaving individual purchasing power stable.

Mahorese companies, although dynamic with production up 19%, are suffering the impact of the surge in production costs, particularly for energy and imported products. At the same time, the foreign trade balance remains in deficit, with an increase in imports of 17%, driven by the increase in the price of products such as diesel and meat.

Despite these challenges, Mayotte recorded economic growth higher than the national average (+5.5%) and other overseas departments. However, GDP per capita, estimated at 10,300 euros, remains well below that of mainland (38,775 euros), representing only 26% of the national average. This dynamic highlights Mayotte's persistent challenges: reconciling economic growth, demographic growth and purchasing power. Continuing public investment efforts and supporting businesses will be key to maintaining this pace of growth in an inflationary context.

By France-Mayotte Matin

France

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