FAX: [268] 404-5959
Flag description: 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
Swaziland Economy
Economy - overview: In this small landlocked economy, subsistence agriculture occupies more than 60% of the population. Manufacturing features a number of agroprocessing factories. Mining has declined in importance in recent years: diamond mines have shut down because of the depletion of easily accessible reserves; 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 four-fifths of its imports and to which it sends two-thirds of its exports. Remittances from the Southern African Customs Union and Swazi workers in South African mines substantially supplement domestically earned income. The government is trying to improve the atmosphere for foreign investment. Overgrazing, soil depletion, drought, and sometimes floods persist as problems for the future. Prospects for 2001 are strengthened by government millennium projects for a new convention center, additional hotels, an amusement park, a new airport, and stepped-up roadbuilding and factory construction plans.
GDP: purchasing power parity - $4.4 billion (2000 est.)
GDP - real growth rate: 2.4% (2000 est.)
GDP - per capita: purchasing power parity - $4,000 (2000 est.)
GDP - composition by sector: agriculture: 10%
industry: 46%
services: 44% (1998 est.)