MINING RECORDS STELLAR GROWTH OF 88.8 %

MBABANE - Mining and quarry activities recorded a stellar growth of 88.8 per cent, supported by better coal extraction, coupled with increasing demand in quarry output.

This was in line with the commencement of numerous quarry-dependent projects by the public and private sector, in the period. Through the quarterly bulletin provided by the Ministry of Economic Planning and Development, the overall domestic economy reflected sustained growth momentum in 2023 in 3rd quarter, recorded at 7.7 per cent, y-o-y seasonally adjusted, relative to 8.2 per cent in the preceding quarter. The remarkable performance of the domestic economy was supported by resilient activity in the three sectors (primary, secondary and services) of the economy in the period. The primary sector where mining falls, was recorded at 0.7 per cent, supported by higher output in the ‘growing of crops’ (5.3 per cent) and ‘animal production’ (12.7 per cent).

Production

Favourable weather conditions, in the period, boosted output for these subsectors. Manufacturing activity benefited from a recovery in external demand, which boosted beverage manufacturing, wood manufacturing and cocoa and chocolate production. Moreover, electricity generation gained from the favourable weather conditions in the period, which supported hydropower generation. Construction activity also grew by 34.3 per cent, benefiting from the construction of buildings and major roads. As a result, the secondary sector improved by 4.9 per cent in 2023 third quarter. The services sector grew by a robust 11.1 per cent underpinned by demand-driven sectors such as ‘wholesale and retail’ (6.2 per cent), tourism- related activity (30.9 percent), ‘financial and insurance’ (11.4 percent) as well as information communication and technology (ICT) (49.4 per cent).

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