Discusses key economic indicators and trade statistics, which countries are dominant in the market, the U.S. market share, the political situation if relevant, the top reasons why U.S. companies should consider exporting to this country, and other issues that affect trade, e.g., terrorism, currency devaluations, trade agreements
Last Published: 12/22/2016
Swaziland is a small country (slightly smaller than New Jersey), landlocked by South Africa on the north, west and south a nd Mozambique on the east. Swazilands population stands at approximately 1.3 million ( 2013 International Monetary Fund).
 
Preliminary forecasts for real GDP growth indicate that the economy grew by 2.5 percent in 2014 which is lower than the revised estimate of 3.0 percent in 2013. The slowdown in real output growth resulted from a loss of momentum in the secondary sector mainly manufacturing, electricity and water supply subsectors. Manufacturing, which accounts for about a third of GDP, is projected to have grown by 1.3 percent in 2014 compared to 1.9 percent the previous year. Positive prospects were noted in agriculture and forestry, wholesale and retail, tourism and central government services’ subsectors. (Central Bank of Swaziland Quarterly review January 2015).
Swazilands economy, though small, has links with larger markets. Its major trading partners are South Africa and the European Union. Its membership in the Southern African Customs Union (SACU), which comprises Botswana, Lesotho, Namibia, Swaziland and South Africa, allows for free movement of goods and plays an important role in determining the countrys economic environment as well as the policy instruments as a member of the common monetary area (CMA).

Trade among the Southern African Development Community (SADC), of which Swaziland is a member, allows 85 percent of goods duty free trade between member-states.  Other benefits in the SADC free trade area include the reduction and elimination of tariffs and non-tariff barriers, easy cross border trade, increased market opportunities, the creation of a value chain across the region, the lowering of input costs, and the creation regional competition to reduce consumer price index.
 
Swazilands African Growth and Opportunity Act (AGOA) eligibility was recently withdrawn, effective January 1, 2015. The U.S. and the Southern Africa Customs Union (SACU), which includes Swaziland, signed a Trade, Investment, and Development Cooperative Agreement (TIDCA) in 2008. The TIDCA establishes a
 
forum for consultative discussions, cooperative work, and possible agreements on a wide range of trade issues, with a special focus on customs and trade facilitation, technical barriers to trade, sanitary and phyto -sanitary (SPS) measures, and trade and investment promotion. Swaziland is also a member of the Common Market for Eastern and Southern Africa (COMESA) which signed a Trade and Investment Framework Agreement (TIFA) with the U.S. in 2001.
 
U.S. Exports to in 2013 were USD 23 million down 42.8 percent in 20 12. U.S. goods imports from Swaziland in 2013 were USD 59 million, an 11.6 percent decrease from 2012. (U.S. Trade Representative Resource Center ).
 
The proximity of the major South African seaports, for example Durban and Richards Bay, to Swaziland makes it easier for exporters to send goods to the country. 

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.



Swaziland Trade Development and Promotion