Woven fabric worth E950m imported
MBABANE – Eswatini imports woven fabric worth millions annually as local suppliers fail to meet market demand.
The woven fabric market is worth over E950 million per annum, this has led to the local market importing it.
The total average imports to Eswatini amounted to over E29 billion in the financial year 2021/2022.
The woven fabric was the sixth most imported item in the country in 2022, with imports reaching almost a billion.
Challenges
One of the challenges cited by industry players was the complications posed by the civil unrest and other economic disruptions.
They said economic disruptions caused financial turmoil, which led to a drop in revenues, thus failing to meet market demands.
Worth noting, The Eswatini Investment Promotion Authority (EIPA)
GOODS AND SERVICES
Petroleum oil and fuel
ICT and electrical components
Medicines and medical instruments
Agricultural and industrial chemicals
Motor vehicles, parts and accessories
Cement products, bitumen and asphalt
Maize / corn, wheat and rice
Woven fabric / yarn
Bottled water
and Taiwan Trade (TAITRA) have facilitated the participation of Eswatini-based traders in the Giftionery and Culture Creative Show 2023 in Taipei, Taiwan.
Eswatini’s participation in this trade show forms part of Eswatini’s efforts
OPPORTUNITIES ON IMPORTS
ANNUAL VALUE
E2.7 billion
E2.6 billion
E1.5 billion
E820 million
E1.3 billion
E380 million
E1.1 billion
E950 million
E250 million
IMPORTS SOURCE
South Africa, India, Turkey, Italy
South Africa, China and Taiwan
India, United States, Turkey, Taiwan
South Africa, India, United States, China
South Africa, India, Japan, Singapore
Mozambique, South Africa, Malaysia
South Africa, Argentina
Lesotho, India, China
South Africa
to deepen trade relations with Taiwan under the Economic Cooperation Agreement signed in 2018, while also encouraging trade between local companies and highly profitable potential markets in Taiwan.
Companies from Eswatini will be represented by The Eswatini Embassy in Taiwan and TAITRA as their products will be shipped and displayed at the Eswatini exhibition stand.
EIPA Manager of External Trade Sibusiso Mnisi said: “We are pleased to once again invite traders to exhibit their products at Giftionery and Culture Creative 2023. This will allow them to diversify their market access and hopefully grow their businesses through enhancing their export trade capability.”
Restrictions
Mnisi said Eswatini had participated before, but due to COVID-19 travel restrictions, traders were represented by Eswatini’s Embassy in Taiwan. He said this time around they would be able to represent themselves and be in a position to present the products to potential buyers or distributors, and undertake market research on key factors and the structure of the creative industries in Taiwan and Asia.
These exhibitions have benefited local companies as trade between Eswatini and Taiwan has increased to US$ 2.3 million (~E38 394 069) based on EIPA 2020 Trade Analysis report and is largely dominated by products in the foods and beverages sector.
Mnisi said this created a need to diversify Eswatini’s high-quality handcrafts, which were already trading in other markets such as SADC, EU, AGOA, Taiwan and Asia.
QUOTE
“Everyone wants to live on top of the mountain, but all the happiness and growth occurs while you’re climbing it.”