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Swaziland Economy 2017
https://theodora.com/wfbcurrent/swaziland/swaziland_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Swaziland Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Surrounded by South Africa, except for a short border with Mozambique, Swaziland depends on South Africa for 60% of its exports and for more than 90% of its imports. Swaziland's currency is pegged to the South African rand, effectively relinquishing Swaziland's monetary policy to South Africa. The government is heavily dependent on customs duties from the Southern African Customs Union (SACU), and worker remittances from South Africa supplement domestically earned income. Swaziland’s GDP per capita makes it a lower middle income country, but its income distribution is highly skewed, with an estimated 20% of the population controlling 80% of the nation’s wealth. As of 2014, more than one-quarter of the adult population was infected by HIV/AIDS; Swaziland has the world’s highest HIV prevalence rate.Subsistence agriculture employs approximately 70% of the population. The manufacturing sector diversified in the 1980s and 1990s, but manufacturing has grown little in the last decade. Sugar and wood pulp had been major foreign exchange earners until the wood pulp producer closed in January 2010, and sugar is now the main export earner. Mining has declined in importance in recent years. Coal, gold, diamond, and quarry stone mines are small scale, and the only iron ore mine closed in 2014.With an estimated 40% unemployment rate, Swaziland's need to increase the number and size of small and medium enterprises and to attract foreign direct investment is acute. Overgrazing, soil depletion, drought, and floods are persistent problems. On 1 January 2015, Swaziland lost its eligibility for benefits under the US African Growth and Opportunity Act, resulting in the loss of thousands of jobs.The IMF forecasted that Swaziland’s economy will grow at a slower pace in 2016/2017 because of a region-wide drought, which is likely to hurt Swaziland’s revenue from sugar exports and other agricultural products, and a decline in the tourism and transport sectors. Swaziland’s revenue from SACU receipts and remittances from Swazi citizens abroad will also decline in 2016/2017, making it harder to maintain fiscal balance.

GDP (purchasing power parity):
$11.06 billion (2016 est.) $11.01 billion (2015 est.) $10.83 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 157
[see also: GDP country ranks ]

GDP (official exchange rate):
$3.43 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
0.5% (2016 est.) 1.7% (2015 est.) 2.5% (2014 est.)
country comparison to the world: 186
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$9,800 (2016 est.) $9,800 (2015 est.) $9,800 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 140
[see also: GDP - per capita country ranks ]

Gross national saving:
4.5% of GDP (2016 est.) 18.1% of GDP (2015 est.) 12.4% of GDP (2014 est.)
country comparison to the world: 169
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 74.7%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 21.4%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 14.6%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.1%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 34.5%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -45.2% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 5.8%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 44.5%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 49.7% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
sugarcane, cotton, corn, tobacco, rice, citrus, pineapples, sorghum, peanuts; cattle, goats, sheep

Industries:
coal, forestry, sugar, soft drink concentrates, textiles and apparel

Industrial production growth rate:
2.8% (2016 est.)
country comparison to the world: 85
[see also: Industrial production growth rate country ranks ]

Labor force:
446,100 (2013 est.)
country comparison to the world: 158
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 70%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: NA%
[see also: Labor force - by occupation - industry country ranks ]
services: NA%
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
40% (2006 est.)
country comparison to the world: 197
[see also: Unemployment rate country ranks ]

Population below poverty line:
69% (2006 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.7%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 40.1% (2010 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
50.4 (2001)
country comparison to the world: 18
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $866.9 million
[see also: Budget revenues country ranks ]
expenditures: $1.195 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
25.3% of GDP (2016 est.)
country comparison to the world: 115
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-9.6% of GDP (2016 est.)
country comparison to the world: 200
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
1 April - 31 March

Inflation rate (consumer prices):
8.8% (2016 est.) 5% (2015 est.)
country comparison to the world: 200
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
6.5% (31 December 2010) 6.5% (31 December 2009)
country comparison to the world: 57
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
10.6% (31 December 2016 est.) 9.04% (31 December 2015 est.)
country comparison to the world: 76
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$236.6 million (31 December 2016 est.) $304.6 million (31 December 2015 est.)
country comparison to the world: 181
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$825.6 million (31 December 2015 est.) $1.008 billion (31 December 2014 est.)
country comparison to the world: 172
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$511.2 million (31 December 2016 est.) $557.8 million (31 December 2015 est.)
country comparison to the world: 172
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA $203.1 million (31 December 2007) $199.9 million (31 December 2006)
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$167 million (2016 est.) $370 million (2015 est.)
country comparison to the world: 79
[see also: Current account balance country ranks ]

Exports:
$1.717 billion (2016 est.) $1.763 billion (2015 est.)
country comparison to the world: 138
[see also: Exports country ranks ]

Exports - commodities:
soft drink concentrates, sugar, timber, cotton yarn, refrigerators, citrus and canned fruit

Imports:
$1.655 billion (2016 est.) $1.603 billion (2015 est.)
country comparison to the world: 168
[see also: Imports country ranks ]

Imports - commodities:
motor vehicles, machinery, transport equipment, foodstuffs, petroleum products, chemicals

Reserves of foreign exchange and gold:
$603.9 million (31 December 2016 est.) $548 million (31 December 2015 est.)
country comparison to the world: 143
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$470.5 million (31 December 2016 est.) $440.1 million (31 December 2015 est.)
country comparison to the world: 180
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$NA
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$NA
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
emalangeni per US dollar - 16.15 (2016 est.) 12.7581 (2015 est.) 12.7581 (2014 est.) 10.8469 (2013 est.) 8.2 (2012 est.)


NOTE: The information regarding Swaziland on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Swaziland Economy 2017 information contained here. All suggestions for corrections of any errors about Swaziland Economy 2017 should be addressed to the CIA.




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