Africa-Press – Eswatini. The country’s exports for the eleven months of 2023 amounted to E33.511 billion, 12 per cent higher when compared to the same period in 2022.
According to the Central Bank of Eswatini (CBE) Recent Economic Developments, October/November 2023 issued yesterday, key export commodities, which accounted for 84.9 per cent of total exports, performed as follows in November 2023: ‘soft drink concentrates’ amounted to E1.738 billion, flat month-on-month and 9.3 per cent lower year-on-year. ‘Sugar and sugar products’ exports amounted to E677.3 million, recording a 6.7 month-on-month decline, while year-on-year the exports increased by 11.4 per cent.
Challenges
‘Textile and textile apparel’ exports were valued at E299.7 million, reflecting a month-on-month decline of 3.8 per cent and a year-on-year decrease of 30.7 per cent as the sector continues to suffer from challenges of sourcing inputs. Exports of ‘wood and wood articles’ amounted to E202.4 million, which was a fall of 9.8 per cent month-on-month and a year-on-year decline of 6.6 per cent. The central bank reported that in November 2023, the country recorded a trade surplus of E70.0 million, compared to the surplus of E241.3 million in the preceding month. Exports reportedly increased by 1.1 per cent month-on-month and decreased by 5.2 per cent year-on-year totalling E3.446 billion. Seasonally adjusted exports for November 2023 were E2.886 billion, while seasonally adjusted imports were valued at E3.068 billion, resulting in a seasonally adjusted negative trade balance of E182.6 million.
Period
Meanwhile, imports for January-November 2023 totalled 31.768 billion, which was 8.3 per cent more than exports for the same period in 2022. In November 2023, imports of ‘energy products’ totalled E611.8 million, decreasing month-on-month by 12.2 per cent and increasing year-on-year by 33.2 per cent. ‘Animal and vegetable products’ imports amounted to E349.8 million, posing a month-on-month and year-on-year growth of 14.3 and 14.6 per cent, respectively. Imports of ‘machinery and electrical equipment’ were valued at E320.5 million, registering a 9.3 per cent higher balance month-on-month and increasing by 22.3 per cent year-on-year.
Balance
‘Textile and textile apparel’ imports amounted to E213.9 million remaining flat month-on-month and declining by 29.9 per cent year-on-year. Imports of ‘cereals’ totalled E180.7 million in November 2023, recording a month-on-month increase of 15.0 per cent and a year-on-year rise of 10.8 per cent. The cumulative trade balance for 2023 as at November is currently a surplus of E1.743 billion, which is greater than the surplus of E574 million which was recorded by the eleventh month last year.
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