Biz Insider Economy Latest News

ESWATINI RECORDED E30.6 BILLION EXPORTS IN 2021- MINISTER MANQOBA KHUMALO

19 May 2022
Ntokozo Nkambule
  • Exports grow by 8% compared to 2020 when they stood at E28.3 Billion
  • Minister reveals that they are working with the Eswatini Sugar Association in a drive to ensure that the country starts exporting intermediaries or finished products of sugar instead of raw sugar.
  • He notes that they are working on creating an ‘Industrial Sugar Park’ in Eswatini.

Photo Credit: http://www.insidebiz.co.sz

By Ntokozo Nkambule

The Minister of Commerce Industry and Trade Manqoba Khumalo has disclosed that the Kingdom of Eswatini recorded a total of E30.6 Billion in Exports for the year 2021. This indicates an increase of 8% as in the previous year the country had recorded E28.3 Billion in exports.

The Minister was speaking during the Second Annual Eswatini Exporter Awards held at the Happy Valley Hotel, eZulwini. The awards are a collaboration between the United States Agency for International Development (USAID), the Eswatini Investment Promotion Authority (EIPA), and Business Eswatini (BE). Khumalo said the improvement in exports is worth celebrating considering that the past two years have been difficult for the country. He said he was highly positive that 2022 would denote even better performance. Furthermore, the Minister noted that the Eswatini Exporter Awards are very important because they show that the country is indeed gunning to be an export-driven economy.

Khumalo also revealed that they are working closely with the Eswatini Sugar Association (ESA) to ensure that the country does not only export raw sugar products. “We are working closely with the ESA regarding tertiary beneficiation of sugar. As it stands our sugar is exported as a raw product, but we are now looking at exporting a finished product from Eswatini” he noted. Additionally, the Minister disclosed that a report has been concluded which will look at how systems such as the Trade Hub can be leveraged to help develop a ‘Sugar Industrial Park’ in Eswatini. He said this would ensure that some of the products that are made from sugar can actually be made in Eswatini. He said their focus was not only on sugar but also on the timber and textile industries. “We will use the recently acquired loan from the African Development Bank (AFDB) to create these supply chain measures. We will use cotton as an enabler so that we stop importing raw materials that the textile industry uses. Our key focus at the end of the day is to have an export-driven economy.

Share With Friends