Flag: three horizontal bands of blue (top), red (triple width), and blue; the red band is edged in yellow; centered in the red band is a large black and white shield covering two spears and a staff decorated with feather tassels, all placed horizontally
- Economy Overview: The economy is based on subsistence agriculture, which occupies much of the labor force and contributes about 25% to GDP. Manufacturing, which includes a number of agroprocessing factories, accounts for another 25% of GDP. Mining has declined in importance in recent years; high-grade iron ore deposits were depleted in 1978, and health concerns cut world demand for asbestos. Exports of sugar and forestry products are the main earners of hard currency. Surrounded by South Africa, except for a short border with Mozambique, Swaziland is heavily dependent on South Africa, from which it receives 90% of its imports and to which it sends about one-third of its exports.
GNP: $539 million, per capita $750; real growth rate 5.7% (1989 est.)
Inflation rate (consumer prices): 17% (1989 est.)
Unemployment rate: NA%
Budget: revenues $255 million; expenditures $253 million, including capital expenditures of $NA million (FY91 est.)
Exports: $394 million (f.o.b., 1988); commodities—sugar, asbestos, wood pulp, citrus, canned fruit, soft drink concentrates; partners—South Africa, UK, US
Imports: $386 million (f.o.b., 1988); commodities—motor vehicles, machinery, transport equipment, chemicals, petroleum products, foodstuffs; partners—South Africa, US, UK
External debt: $275 million (December 1987)
Industrial production: growth rate 24% (1986)