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Eswatini's exports decline in January 2020

19
Feb '20
Pic: Shutterstock
Pic: Shutterstock
Exports in Eswatini declined in January by 22.5 per cent to 2.078 billion emalangeni (E) over E2.682 billion in December 2019, while the import bill for the month was E1.947 billion, reflecting a month-on-month fall of 5.4 per cent. The trade balance registered a surplus of E131.2 million, a smaller surplus than that of E623.4 million for December 2019.

Receipts from textiles and apparel increased by 19.9 per cent to E232.3 million in January, according to a newspaper report in the country, earlier known as Swaziland.

According to the Central Bank of Eswatini, the decline was a result of contraction in both exports and imports as they were viewed cyclical around January due to slow operations during the festive season holidays.

A breakdown of imports showed 64.6 per cent of total imports came from South Africa. Import of cotton and cotton products, including fabric, increased by 37 per cent, making up 4.5 per cent of total imports in the month, according to the bank.

Fibre2Fashion News Desk (DS)


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