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PROCESSED FRUITS, NUTS EXPORTS TO US UP 56.9%

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MBABANE – The United States’ year-by-year imports from Eswatini has shown an increase, which was explained primarily by an increase in product imports in processed fruits and nuts which grew by 56.9 per cent.

This is according to the Observatory of Economic Complexity (OEC) website, which is an online data visualisation and distribution platform focused on the geography and dynamics of economic activities. In January 2024 the top imports of United States from Eswatini were processed fruits and nuts E1 951700.65 (US$103 000), liquid pumps E1 387 033.86 (US$73 200), commodities not elsewhere specified E322 323.40 (US$17 000), bells and other metal ornaments E265 442.80 (US$14 000), and machinery having individual functions E252 170.66 (US$13 300).

Alcohols

The top exports of United States to Eswatini were acyclic alcohols, worth E17 584 996.80 (US$928 000), Kraft Paper worth E 17 413 901.25 (US$919 000), ball bearings E 2 539 090.96 (US$134 000), dextrins E 2444 348.76 (US$129 000), and other commodities not elsewhere specified E2 198 234.80 (US$116 000). Overall, in January 2024, the Kingdom of Eswatini imported goods worth US$2.16 million (E40 934 160) and exported items worth US$734 000 (E13 902 363.70). This resulted in a positive trade balance of US$1.42 million (E26 891 605). In terms of growth, the decrease in United States’s year-by-year exports to Eswatini was explained primarily by an decrease in product exports in chemical analysis instruments (-84.8 per cent), scented mixtures (-58.8 per cent), and Aircraft Parts (-96.5 per cent). It is worth noting that in 2022, United States exported E1 308 331 076 to Eswatini. The main products that United States exported to Eswatini were gas turbines, kraft paper and sculptures.

Increase

During the last 22 years the exports of United States to Eswatini have increased at an annualised rate of 0.058 per cent, from E1 290 867 120 in 2000 to E1 308 331 076 in 2022. In the same year, 2022, Eswatini exported E263 868 426 to United States. The main products that Eswatini exported to United States were raw sugar E86 717 806.50, processed fruits and nuts E67 742 356.50 and knit T-shirts E28 273 420.50. During the last 22 years the exports of Eswatini to United States have decreased at an annualised rate of 8.68 per cent, from E1 954 713 400 in 2000 to E263 791 420 in 2022. Comparison In 2022, United States ranked 10 in the Economic Complexity Index (ECI 1.41), and 2 in total exports valued at US$1.95 trillion. That same year, Eswatini ranked 143 in total exports E38 917 815 000. Meanwhile, the United Kingdom (UK) exports of goods to Eswatini decreased by 50.0 per cent in 12 months to January 2024 in current prices, compared to the same period the previous year.

Imports

According to the trade and investments factsheet provided by the UK Department for Business and Trade published on March 21, 2024, UK imports of goods from Eswatini decreased by 92.3 per cent, in current prices, over the same period. It was reported that the total trade in goods and services (exports plus imports) between the UK and Eswatini was E191 591 812.72 (£8 million) by the end of the third quarter of 2023 (October – December 2023). This reflected a decrease of 72.4 per cent or E502 847 100 (£21 million) in current prices from the four quarters to the end of Q3 2022. Of this E191 591 812.72 (£8 million): Total UK exports to Eswatini amounted to E95 784 404.96 (£4 million) in the four quarters to the end of Q3 2023 (a decrease of 55.6 per cent or E119 732 200 (£5 million) in current prices, compared to the four quarters to the end of Q3 2022);

Prices

Total UK imports from Eswatini amounted to E95 784 404.96 (£4 million) in the four quarters to the end of Q3 2023 (a decrease of 80.0 per cent or E383 125 997.12 (£16 million) in current prices, compared to the four quarters to the end of Q3 2022). Eswatini was the UK’s joint 210th largest trading partner in the four quarters to the end of Q3 2023 accounting for less than 0.1 per cent of total UK trade. This means the UK reported a total trade balance of less than E23 921 320 (£1 million) with Eswatini, compared to a trade deficit of E262 954 309.53 (£11 million) in the four quarters to the end of Q3 2022. In the four quarters to the end of Q3 2023, the UK had a trade in goods deficit of E71 725 593.78 (£3 million) with Eswatini, compared to a trade in goods deficit of £15 million in the four quarters to the end of Q3 2022.

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