ESWATINI’S TRADE SURPLUS SHRINKS IN NOV 2024

MBABANE - In November 2024, Eswatini’s trade surplus narrowed to E628.5 million from E903.5 million in October.
According to the latest Recent Economic Developments (RED) report from the Central Bank of Eswatini (CBE), exports were E4.165 billion in the month under review, lower when compared to E4.405 billion recorded in October 2024. Year-on-year, this represented an increase of 17.8 per cent. On the contrary, imports were higher in November 2024, amounting to E3.537 billion compared to E3.502 billion in the preceding month. Year-on-year, imports grew by 6.1 per cent. Seasonally adjusted figures presented a positive trade balance of E479.0 million for November 2024. Seasonally adjusted exports amounted to E3.741 billion and seasonally adjusted imports were E3.262 billion.

Country

The CBE further reported that the direction of trade for the country indicates South Africa as the country’s major trading partner received 59.6 per cent of the country’s exports, while 76.2 per cent of the country’s imports originated from that country. The country posted a wider trade surplus of E4.710 billion for the 11 months of 2024, compared to a trade surplus of E839.0 million for the same period in 2023. Cumulative exports were E39.675 billion for the period January-November 2024 compared to E34.286 billion for January-November 2023, with growth coming mainly from soft drink concentrates and sugar exports.

Imports

Similarly, imports for January-November 2024 increased, amounting to E34.965 billion compared to E31.624 billion for the same period in 2023. Growth was recorded in imports of animal and vegetable products, machinery, electrical equipment and vehicles.

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