{"id":44163,"date":"2024-02-21T06:24:01","date_gmt":"2024-02-21T06:24:01","guid":{"rendered":"https:\/\/www.africa-press.net\/eswatini\/?p=44163"},"modified":"2024-02-21T06:07:26","modified_gmt":"2024-02-21T06:07:26","slug":"textile-sector-potential-not-fully-reached","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eswatini\/all-news\/textile-sector-potential-not-fully-reached","title":{"rendered":"TEXTILE SECTOR POTENTIAL NOT FULLY REACHED"},"content":{"rendered":"

Africa-Press – Eswatini. <\/strong><\/span>A sector whose potential has not been fully reached in Eswatini is the textile sector.<\/b><\/p>\n

The textile sector is importing more than 50 per cent of the raw and semi-finished materials used in the production processes. So, strengthening local value chains and increasing production may enable Eswatini to benefit to a greater extent from the textile sector, with a positive impact in terms of employment and value- added. Under the second objective, which is boosting value addition in resource-based sectors to ensure inclusive industrialisation, Eswatini\u2019s manufacturing sector is characterised by low value-added production with limited backward and forward linkages. Statistical evidence shows that the country exports mostly raw and semi-finished products with little or no value addition. On average, in 10 value chains, the share of raw materials and semi-finished products in total exports represented more than 55 per cent in 2020.<\/p>\n

The most important trading sectors for Eswatini are export products with low value addition in terms of the level of transformation (wood, leather, metal, chemicals, mineral, fish, sugar, spices and cereals, oilseeds and fats, beverages and spirits). Therefore, boosting value addition in the country\u2019s resource-based sectors can significantly enhance inclusive industrialisation through improved wages locally. The third objective which is enhancing economic resilience by diversifying production and export markets comes after it has been noted that Eswatini currently faces the challenge of producing a limited number of products in the manufacturing sector. For instance, the top three products in 2021 contributed over 56 per cent, as a percentage of total manufactured exports. These top three products each contribute 32, 14 and 10 per cent, respectively.<\/p>\n

The other products that follow these top three contribute less than 9 per cent in total manufactures, which is negligible and problematic. This poses a risk for the Eswatini economy as it remains vulnerable to shocks, thus the need to pursue a product diversification strategy to enhance economic resilience in the country. Impediments to achieve this objective include conflicting policies within government, lack of Research and Development (R&D), poor market intelligence, weak regulations, and insufficient information on trade agreements.<\/p>\n

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

Africa-Press – Eswatini. A sector whose potential has not been fully reached in Eswatini is the textile sector. The textile sector is importing more than 50 per cent of the raw and semi-finished materials used in the production processes. So, strengthening local value chains and increasing production may enable Eswatini to benefit to a greater […]<\/p>\n","protected":false},"author":84,"featured_media":44162,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[234,248,249],"class_list":["post-44163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-eswatini","tag-eswatini"],"yoast_head":"\nTEXTILE SECTOR POTENTIAL NOT FULLY REACHED - Eswatini<\/title>\n<meta name=\"description\" content=\"A sector whose potential has not been fully reached in Eswatini is the textile sector. 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