{"id":32295,"date":"2023-08-21T08:12:11","date_gmt":"2023-08-21T08:12:11","guid":{"rendered":"https:\/\/www.africa-press.net\/eswatini\/all-news\/slow-growth-in-export-oriented-sectors"},"modified":"2023-08-21T08:35:25","modified_gmt":"2023-08-21T08:35:25","slug":"slow-growth-in-export-oriented-sectors","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eswatini\/all-news\/slow-growth-in-export-oriented-sectors","title":{"rendered":"SLOW GROWTH IN EXPORT ORIENTED SECTORS"},"content":{"rendered":"

Africa-Press – Eswatini. <\/strong><\/span>In the first quarter of 2023, a slower growth was noted in the \u2018manufacture of beverages\u2019, \u2018manufacture of textiles\u2019 and \u2018processing and preserving of fruits and vegetables\u2019 subsectors, all of which are export oriented.<\/b><\/p>\n

According to the recent economic developments June\/July 2023 issued by the Central Bank of Eswatini (CBE), the secondary sector remained suppressed, declining by a steeper 10.1 per cent in the first quarter of 2023, from a revised contraction of 0.4 per cent in the previous quarter.<\/p>\n

Performance<\/b><\/p>\n

It was reported that the persistent poor performance of the sector partially emanated from the \u2018manufacturing\u2019 subsector, which contracted by 12.1 per cent, year-on-year in the first quarter of 2023, from a revised decline of 1.4 per cent in the last quarter of 2022. Moreover, the \u2018water and sewerage\u2019 subsector declined by 17.0 per cent in the quarter under review, from a 2.6 per cent growth in the previous quarter, owing to a slowdown in demand for treated water from domestic industries. The decrease in demand for treated water by commercial customers was driven by a reported closure of some businesses and lower consumption in January due to the festive shut down. On the other hand, within the secondary sector, there was positive performance in the \u2018electricity supply\u2019 and \u2018construction\u2019 subsectors. Electricity generation improved by 16.1 per cent while construction activities rose by a slower 2.7 per cent on a year-on-year basis in the quarter under review.<\/p>\n

Meanwhile, the CBE reported that the primary sector grew by a slower 3.4 per cent, year-on-year in the first quarter of 2023, from a revised growth of 5.0 per cent in the fourth quarter of 2022. Positive performance was mainly observed in the \u2018growing of crops\u2019, \u2018animal production\u2019, and \u2018mining and quarrying\u2019 subsectors. The \u2018growing of crops\u2019 subsector grew by 9.3 per cent in the quarter under review, rebounding from a decline of 0.9 per cent, mainly benefitting from developments in sugarcane production.<\/p>\n

Production<\/b><\/p>\n

Similarly, the \u2018animal production\u2019 subsector grew by 2.4 per cent in the quarter under review, from 11.3 per cent in the previous quarter, owing to increases in both \u2018home and commercial\u2019 cattle slaughters. Furthermore, the \u2018mining and quarrying\u2019 subsector grew by 14.4 per cent largely attributable to a 19.8 per cent increase in coal production in the first quarter of 2023. This acceleration benefitted from resumption of the mining of crown land, following temporary stoppages experienced in the previous quarter. The tertiary sector, accounting for approximately 61 per cent of total industries, grew by a slower 8.6 per cent year-on-year, in the first quarter of 2023, from a revised growth of 11.2 per cent in the previous quarter. The observed growth largely benefitted from increased economic activity in the \u2018wholesale and retail\u2019, \u2018accommodation and food services\u2019, \u2018information and communication\u2019 and \u2018financial and insurance services\u2019 subsectors.<\/p>\n

Activity<\/b><\/p>\n

Activity from the \u2018wholesale and retail trade\u2019 subsector grew by a slower 4.1 per cent in the quarter under review, from 18.3 per cent in the previous quarter. Notably, the accommodation and food services\u2019 subsector rose by 27.9 per cent in the first quarter of 2023, reflecting continued recovery of the subsector post-COVID-19. The increasing usage of digital platforms continues to contribute positively in the use of data services, thereby supporting strong growth in the \u2018information and communication\u2019 subsector. Other improvements were noted in the \u2018financial and insurance services\u2019 subsector which grew by 28.5 per cent in the quarter under review, mainly benefitting from increases in \u2018insurance and pension funding\u2019 activities.<\/p>\n

For More News And Analysis About Eswatini<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eswatini. In the first quarter of 2023, a slower growth was noted in the \u2018manufacture of beverages\u2019, \u2018manufacture of textiles\u2019 and \u2018processing and preserving of fruits and vegetables\u2019 subsectors, all of which are export oriented. According to the recent economic developments June\/July 2023 issued by the Central Bank of Eswatini (CBE), the secondary […]<\/p>\n","protected":false},"author":84,"featured_media":32294,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,242],"tags":[234,248,249],"class_list":["post-32295","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-to-homepage","tag-africa-press","tag-africa-press-eswatini","tag-eswatini"],"yoast_head":"\nSLOW GROWTH IN EXPORT ORIENTED SECTORS - Eswatini<\/title>\n<meta name=\"description\" content=\"In the first quarter of 2023, a slower growth was noted in the \u2018manufacture of beverages\u2019, \u2018manufacture of textiles\u2019 ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/slow-growth-in-export-oriented-sectors\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SLOW GROWTH IN EXPORT ORIENTED SECTORS\" \/>\n<meta property=\"og:description\" content=\"In the first quarter of 2023, a slower growth was noted in the \u2018manufacture of beverages\u2019, \u2018manufacture of textiles\u2019 ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/slow-growth-in-export-oriented-sectors\" \/>\n<meta property=\"og:site_name\" content=\"Eswatini\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-21T08:12:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-21T08:35:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2023\/08\/sm_1692594198.286648.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"878\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/slow-growth-in-export-oriented-sectors#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/slow-growth-in-export-oriented-sectors\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"SLOW GROWTH IN EXPORT ORIENTED SECTORS\",\"datePublished\":\"2023-08-21T08:12:11+00:00\",\"dateModified\":\"2023-08-21T08:35:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/slow-growth-in-export-oriented-sectors\"},\"wordCount\":565,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/slow-growth-in-export-oriented-sectors#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2023\/08\/sm_1692594198.286648.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eswatini\",\"Eswatini\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eswatini\/all-news\/slow-growth-in-export-oriented-sectors#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/slow-growth-in-export-oriented-sectors\",\"url\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/slow-growth-in-export-oriented-sectors\",\"name\":\"SLOW GROWTH IN EXPORT ORIENTED SECTORS - 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