The good news that constitutes the 8.4% increase in GDP (Gross Domestic Product, the wealth produced) in 2022, proof of good economic activity, is quickly weighed down when we relate it to each inhabitant, +4.7 %. Against +5.2% at the national level. If everyone has benefited from it, more and more of us are sharing a cake which is not increasing enough, and what's more, this year 2022 is marked by high inflation, “a consequence of the outbreak of the war in Ukraine at the end of February , and more broadly an evolution of global circuits of circulation of goods and services,” indicates INSEE. Annual inflation is 5% on average in Mayotte (5.2% nationally), therefore eating into household purchasing power.
With a GDP which stands at 3.1 billion euros in 2022, therefore +8.4%, the growth of the Mahorese economy remains more sustained than at the national level (+5.5% in current euros) and than in the other overseas departments and regions, +2.5% in Guyana to +7.7% in Guadeloupe. But the sharp increase in population sets GDP per capita at 10,300 euros in 2022, or 26% of GDP per capita in France. “As a result, Mayotte still cannot catch up with the national level, there is no convergence”, indicated this Thursday to the 20th anniversary of CESEM Jamel Mekkaoui, Head of the studies division at INSEE Réunion-Mayotte , who knows Mayotte well having managed the local branch for 7 years.
This is the paradox of GDP, the production of wealth can be provided by administrationswhether through the added value produced or through their consumer spending, and they remain the main drivers of growth. Thanks to the increase in the civil service index point that year, the wage bill increased in the public sector, implying +10% added value, or 1.6 billion euros, or half of GDP. It's huge, we can talk about growth under perfusion.
“Whatever it costs” supports the Mahorean GDP
Public administrations are also investing more in 2022. “The construction and rehabilitation of educational establishments continues”, as well as the launch of a major project to restructure and modernize the hospital center.
The consumption of households increases by 7% in 2022, to reach 1.5 billion euros, contributing 3.6 points to GDP growth, linked to the increase in disposable income of all households (+9%). Here too, growth is artificially maintained by an increase in employee remuneration of 10%, under the effect of the increase in the index point in the public sector, and successive and mechanical revaluations of the minimum wage in the private sector due to high inflation in France. The latter also led to exceptional measures concerning social benefits which increased by 9%.
Households did not save more than in 2021: demand deposits or savings increased by only 2% in 2022, compared to +29% in 2020, marked by the health crisis.
If private and public salaries increase, we must not forget the strong income inequalities between households which remain in the department.
Finally, the production of Mahorese companies increases sharply in value in 2022, +19% after +20% in 2021. But here again it is necessary to qualify because they had to support a sharp increase in production costs of +26%, particularly in connection with the increase in oil prices. 'energy. As a final result, the value released only increases by 11%, to reach 1 billion euros, and contributes 3.4 points to the increase in GDP.
After the record of 2021, the number of business creations decreases slightly in Mayotte in 2022 (-2%) due to the decline in the creation of traditional individual businesses. On the other hand, those under the micro-entrepreneur regime put in place in 2020 continue to progress, like those of companies.
Fortunately, “whatever it costs” has allowed financial aid for operations to increase sharply, +27%, which has enabled companies to “compensate for the additional costs of energy production, particularly electricity”. Thus, taxes net of subsidies on products fell by 59% and contributed negatively to the evolution of GDP (-1.1 points).
The trade balance is still very deficit, “as in the other DROMs”, reassures INSEE. With 1 billion euros of imports of goods and services, up +17% in 2022, not in volume but in value, particularly for diesel, or meat, whose imports increase by 35% in value but by 13%. in volume. And only 8 million euros in exports, despite the +15% in value.
A.P-L.
