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Economy of Swaziland

The economy of Swaziland is fairly diversified, with agriculture, forestry and mining accounting for about 13 percent of GDP, manufacturing (textiles and sugar-related processing) representing 37 percent of GDP and services - with government services in the lead - constituting 50 percent of GDP.

Agriculture

Title Deed Lands (TDLs), where the bulk of high value crops are grown (sugar, forestry, and citrus) are characterized by high levels of investment and irrigation, and high productivity. Nevertheless, the majority of the population - about 75 percent—is employed in subsistence agriculture on Swazi Nation Land (SNL), which, in contrast, suffers from low productivity and investment. This dual nature of the Swazi economy, with high productivity in textile manufacturing and in the industrialized agricultural TDLs on the one hand, and declining productivity subsistence agriculture (on SNL) on the other, may well explain the country's overall low growth, high inequality and unemployment.

Sugar Industry

Swaziland is the fourth largest producer of sugar in Africa and is 25th in production in the world. This demonstrates the immense focus of the industry in order to continue to grow their economy. Swaziland's GDP was $8.621 billion (US dollars) in 2014 base on purchasing power parity and of that 7.2% of that is from the agriculture sector and of that sector, sugarcane and sugar products have the largest impact on GDP.

Mining

Currently, Swaziland's mineral sector is governed under a policy drawn up prior to Swaziland's independence. In response to the sector's recent decline, a new mining policy is being drafted by consultants, paid for by a grant from China, and legislation to facilitate small-scale mining has also been proposed.

The country's main source of foreign exchange is the Bulembu asbestos mine, however production has hit a steep decline. Diamond, iron ore and gold have also been found in the past, however a lack of investment and development policy has seen the region's potential falter.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Economy Of Swaziland"

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