The economy of Swaziland is small and landlocked, where agriculture is at the subsistence level. Majority (80%) of the population depend on agriculture for basic food requirement. Drought caused severe shortage of food in the year 2004-2005. People (approximately 1/4th of the population) needed emergency food assistance.
The Swaziland government is taking several measures to encourage foreign investment in Swaziland.
The different segments of Swaziland economy at a glance:
The gross domestic product -purchasing power parity in 2006 was USD5.91 billion.
The gross domestic product- real growth rate in 2006 was 2%.
The gross domestic product- per capita PPP in 2006 was USD 5,200.
Sector wise composition:
GDP- agriculture in 2006 was 11.8%
GDP- service industry in 2006 was 36.8%
GDP- industrial sector in 2006 was 51.4%
The total number of workers employed in different sectors in the year 2003 were 155,700.
Population of Swaziland below poverty line in 2005 was 69%.
The agricultural products in Swaziland include rice, citrus, sugar cane, corn, cotton, tobacco, pineapples, peanuts, sorghum.
Livestock consists of cattle, sheep and goats.
The different industries in Swaziland include wood pulp, mining of raw asbestos and coal; sugar, textiles, soft drinks, garments.
Swaziland export commodities:
Sugar, soft drink concentrate, cotton yarn, wood pulp, canned fruit, citrus, refrigerators.
Swaziland exported the above commodities to European Union, South Africa, Mozambique, USA in 2004.
Swaziland import commodities:
Swaziland imports food products, petroleum products, equipments for transport, automobiles, machinery, chemicals.
In the year 2004, Swaziland imported these commodities from Japan, Singapore, South Africa and European Union.
The currency of Swaziland is lilangeni. The currency code is SZL.
For more information on Swaziland, one may visit the links given below:
Last Updated on : 25th June 2013