Eswatini records E0.57bn trade surplus

LOBAMBA - During 2022/23, a trade surplus (exports were greater than imports) of E0.57 billion was recorded for the country compared to a E0.72 billion deficit observed in 2021/22.

Total exports to the world stood at E31.366 billion, which was an 10.1 per cent increase from E31.202 billion recorded in 2021/22. Total imports from the world increased by 11.81 per cent and were valued at E34.916 billion compared to E31.227 billion in 2021/22.

South Africa remains Eswatini’s major import partner accounting for E27.860 billion (79.79 per cent) of total imports in 2022/23 which was an 8.31 per cent increase when compared to 2021/22.

The increase was due to a rise in the price of petrol and distillate fuel which increased the value of these products.

The major imported goods from South Africa were petroleum products and cereals and cereal preparations.

Petroleum products and related materials E4.514 billion (47.38 per cent contribution to total imports), Textile yarn, fabrics E2.589 billion (7.91 per cent contribution to total imports) and cereals and cereal preparations, E2.113 billion (13.68 per cent total contribution to total imports) were the top imported classifications in 2022/23.

EXPORTS

On exports, South Africa remains Eswatini’s major export partner accounting for E23.477 billion (69.31 per cent) of total exports in FY 2022/23, with a 9.43 per cent increase when compared to 2021/22.

The increase was due to a rise in the exports of concentrates, sugar cane and other chemical products.

The major exported goods to the neighbouring country were ‘essential oils’ and ‘sugar preparations and honey’.