Major trade surplus for Eswatini

MBABANE - During the past month, the country is said to have posted a merchandise trade surplus of E637.5 million.

This is a notable increase from a surplus of E305.1 million the previous month.

According to the Recent Economic Developments report from the Central Bank of Eswatini (CBE), merchandise exports during the month increased by 38.3 per cent month-on-month and 18.5 year-on-year, amounting to

E3.195 billion. This is the highest exports figure recorded in the year to date.

The increase, according to the report, was influenced by a significant monthonmonth surge in Eswatini’s major export commodities that include sugar.

Imports during the month increased by 27.6 per cent month-on-month and 14.7 per cent year-on-year, totalling E2.558 billion.

“Yeartodate figures indicate that the trade balance as at August 2021 recorded a surplus of E425 million, a switch from the deficit trend that has prevailed since the start of the year and lower than the surplus of E1.999 billion posted in the same period last year,” reads the report.

Compared

Cumulative export numbers as at the past month were valued at E18.784 billion, which is 9.8 per cent higher when compared to figures as at August last year. Cumulative import figures as at August this year amounted to E18.359 billion, which is 21.5 per cent greater than figures reported as at the same period last year.