Swazi Observer

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SUGAR, MISCELLANEOUS EDIBLES EXPORTS INCREASE

By Hlengiwe Ndlovu | 2018-10-17

Major exports such as sugar, sugar products and miscellaneous edibles increased significantly between August and September.

Sugar exports went up by 80.3 per cent to settle at E575.5 million while miscellaneous edibles sold outside the country went up by 15.5 per cent to settle at E676.5 million, the Central Bank of Eswatini’s Recent Economic Developments report shows.

Textile exports also grew by 18.6 per cent to E203.6 million, while wood and articles of wood declined by 6.0 per cent. Combined, the major exports accounted for 68.3 per cent of total exports in the review month.

Imports

Imports, on the other hand, were outperformed by exports. vehicle import other than railway equipment increased by 19 per cent to E170.2 million while boilers, machinery and mechanical equipment increased by 26 per cent to E163.4 million. Imports of electrical machinery posted a month-on-month decrease of two per cent in the month of August.

CBE said indications are that the merchandise trade account would record a deficit this year as the cumulative balance for the first eight months of 2018 amounted to a deficit of E673.5 million, compared with the E1.528 billion surplus over the same period last year.

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