14.3% increase of exports

MBABANE - The country’s trade account reflects that exports have recorded an annual increase of 14.3 per cent to E15.81 billion in 2012.

Central Bank Governor Martin Dlamini said the increase was attributed to the mining sector coupled with improved performance of manufacturing sector during the year.

He said export earnings from miscellaneous edibles, that include sugar consumable items and sugar products maintained its position of being the highest export revenue earner contributing 49.4 per cent to the country’s total export earnings during 2012.

“Sugar export earnings increased by 42 per cent to E2.88 billion in 2012, largely attributable to favourable prices at destination markets including Southern African Customs Union (SACU) and the European Union (EU). Other contributors to export receipts in 2012 were mineral and textile exports,” said Dlamini.

On the other hand, the import bill increased by 7.6 per cent to E15.15 billion in 2012, mainly reflecting increased demand for imports coupled with high energy prices that include both fuel and electricity imports. On another note, Foreign Direct Investment (FDI) inflows increased to E8.14 billion  in 2012 from E742 billion realised in 2011 due to the increased reinvested earnings and fresh FDI remaining low during the year.

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