Mayotte's economy remains "green" in 2022 despite "structural challenges"

However, "Mayotte remains a territory where many challenges must be met to ensure the sustainability of its development", warns on Wednesday the Issuing Institute for Overseas Departments (IEDOM) of Mayotte, a subsidiary company of the Banque de France, in a press release.

In this French department, located at the entrance to the Mozambique Channel in the Indian Ocean, the government began in April a vast operation, very controversial, against delinquency and unsanitary housing, mobilizing significant reinforcements of forces of order.

"Despite the structural challenges linked in particular to demography, lack of infrastructure, insecurity and the deficit in terms of engineering, the year 2022 confirms and accentuates the positive trend for the economy of Mayotte initiated in 2021. “, assures the IEDOM.

"The good orientation of global activity is mainly driven by the construction and market services sectors and to a lesser extent by trade," he said.

“In 2022, business leaders in the construction sector report sustained and growing activity throughout the year,” reports IEDOM.

The year 2022 saw the realization of projects such as the inauguration of a Data Center or the delivery of the Petite-Terre hospital, he recalls. For 2023, "other infrastructures (shopping center, construction of social housing, works at the port of Longoni, etc.), deemed essential for the development of the territory, should be finalized or launched".

Important downside: the rise in prices, which began at the end of 2021, continued, "placing Mayotte inflation above the national average in December" 2022.

In addition, "the problems of mobility and insecurity produce clearly negative effects on the activity, the profitability of companies and the attractiveness", judges the institute. "In addition, companies are faced with a problem of ability to meet demand, due in particular to a lack of labor and difficulties in finding land. Added to this is a potential water crisis. the adverse consequences of which could [affect] significantly the activity of the island", according to the press release.

According to another institute, INSEE, basing itself on official statistics from several years ago, Mayotte is "the French department which generates the least wealth" and "the overseas department most affected by the unemployment".