ESWATINI’S EXPORTS SURGE BY 11.1% IN SEPT

MBABANE - The country recorded a trade balance surplus of E996.5 million in September 2024, up from the E301.3 million surplus recorded in August 2024.

According to the Central Bank of Eswatini’s (CBE) Recent Economic Developments (RED) report for August-September, the widening surplus was due to exports growing by an 11.1 per cent month-on-month and 16.6 per cent year-on-year increase to E4.205 billion. The surplus was also influenced by a 7.9 per cent fall in imports to E3.209 billion in the month, though higher by 14.5 per cent on a year-on-year basis. The seasonally adjusted trade balance for September 2024 was E643.1 million, where seasonally adjusted exports amounted to E3.813 billion and seasonally adjusted imports were E3.170 billion.  

In the period from January to September 2024, the accumulated trade surplus improved to register E3.129 billion compared to the E2.097 billion documented in the same period of the previous year. Exports for the three quarters of 2024 stood at E31.105 billion, an increase of 14.8 per cent from the E27.248 billion cumulative exports recorded over the three quarters of 2023.  Growth was informed by an increase in soft drink concentrates and sugar products exported thus far in the year. Imports, for the period Jan-Sep 2024 also exhibited growth from E25.150 billion in 2023 to E27.975 billion in the same months of 2024. Growth in imports was influenced by a surge in the value of imported food products, machinery and electrical equipment as well as vehicles.

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