Economy
Economy - overview: This small landlocked economy is based largely on subsistence agriculture, which occupies more than 60% of the population. Manufacturing features a number of agroprocessing factories. Mining has declined in importance in recent years; high-grade iron ore deposits were depleted by 1978, and health concerns have cut world demand for asbestos. Exports of soft drink concentrate, sugar and wood pulp 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 nearly 90% of its imports and to which it sends more than half of its exports. Remittances from Swazi workers in South African mines supplement domestically earned income by as much as 20%. The government is trying to improve the atmosphere for foreign investment. Overgrazing, soil depletion, and drought persist as problems for the future.
GDP: purchasing power parity - $3.8 billion (1996 est.)
GDP - real growth rate: 2.9% (1996 est.)
GDP - per capita: purchasing power parity - $3,800 (1996 est.)
GDP - composition by sector: agriculture: 12% industry: 43% services: 45% (1994 est.)
Inflation rate - consumer price index: 14.7% (1995)
Labor force: total: 160,355 (1986 est.) by occupation: private sector about 65%, public sector 35%
Unemployment rate: 15% (1992 est.)
Budget: revenues: $397 million expenditures: $413 million, including capital expenditures of $78 million (1995/96)