Swaziland

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Surrounded by South Africa, aside from a short border with Mozambique, Swaziland depends heavily on South Africa from which it receives more than 90% of its imports and to which it sends 60% of its exports. Swaziland's currency is pegged to the South African rand, effectively subsuming Swaziland's monetary policy to South Africa. The government is heavily dependent on customs duties from the Southern African Customs Union (SACU), and worker remittances from South Africa supplement domestically earned income. Swaziland’s GDP per capita makes it a lower middle income country but its income distribution is highly skewed, with an estimated 20% of the population controlling 80% of the nation’s wealth. Subsistence agriculture employs approximately 70% of the population. The manufacturing sector diversified in the 1980’s and 1990’s, but manufacturing has grown little in the last decade. Sugar and wood pulp had been major foreign exchange earners; however, the wood pulp producer closed in January 2010, and sugar is now the main export earner. Mining has declined in importance in recent years. Coal, gold, diamond, and quarry stone mines are small-scale and the only iron ore mine closed in 2014. With an estimated 40% unemployment rate, Swaziland's need to increase the number and size of small and medium enterprises and attract foreign direct investment is acute. Overgrazing, soil depletion, drought, and floods persist as problems for the future. On 1 January 2015, Swaziland lost its eligibility for benefits under the African Growth and Opportunity Act (AGOA), threatening the remaining 12,000 jobs in the textile and apparel sector; approximately 3,000 jobs have been lost since the 2014 announcement of the loss of AGOA. As of 2013 more than one-quarter of the adult population was infected by HIV/AIDS; Swaziland has the world’s highest HIV prevalence rate.

$8.621 billion (2014 est.)
$8.476 billion (2013 est.)
$8.245 billion (2012 est.)
note: data are in 2014 US dollars
country comparison to the world: 161
$3.676 billion (2014 est.)
1.7% (2014 est.)
2.8% (2013 est.)
1.9% (2012 est.)
country comparison to the world: 145
$7,800 (2014 est.)
$7,700 (2013 est.)
$7,500 (2012 est.)
note: data are in 2013 US dollars
country comparison to the world: 147
household consumption: 80.5%
government consumption: 25.3%
investment in fixed capital: 13.5%
investment in inventories: -0.1%
exports of goods and services: 51%
imports of goods and services: -70.2%
(2014 est.)
agriculture: 7.2%
industry: 47.4%
services: 45.4% (2014 est.)
35.1% of GDP (2014 est.)
country comparison to the world: 61
-1.5% of GDP (2014 est.)
country comparison to the world: 69
$2.192 billion (2014 est.)
$2.104 billion (2013 est.)
country comparison to the world: 142
$2.097 billion (2014 est.)
$1.987 billion (2013 est.)
country comparison to the world: 163
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