The 2001 CIA World Factbook

by United States. Central Intelligence Agency

Swaziland:
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.

Sweden:
Aided by peace and neutrality for the whole twentieth
century, Sweden has achieved an enviable standard of living under a
mixed system of high-tech capitalism and extensive welfare benefits.
It has a modern distribution system, excellent internal and external
communications, and a skilled labor force. Timber, hydropower, and
iron ore constitute the resource base of an economy heavily oriented
toward foreign trade. Privately owned firms account for about 90% of
industrial output, of which the engineering sector accounts for 50%
of output and exports. Agriculture accounts for only 2% of GDP and
2% of the jobs. In recent years, however, this extraordinarily
favorable picture has been somewhat clouded by budgetary
difficulties, high unemployment, and a gradual loss of
competitiveness in international markets. Sweden has harmonized its
economic policies with those of the EU, which it joined at the start
of 1995. GDP growth is forecast for 4% in 2001.

Switzerland:
Switzerland, a prosperous and stable modern market
economy with a per capita GDP 20% above that of the big western
European economies, experienced solid growth of 3% in 2000, but
growth is expected to fall back to about 2% in 2001. The Swiss in
recent years have brought their economic practices largely into
conformity with the EU's to enhance their international
competitiveness. Although the Swiss are not pursuing full EU
membership in the near term, in 1999 Bern and Brussels signed
agreements to further liberalize trade ties, and the agreements
should come into force in 2001. Switzerland is still considered a
safe haven for investors, because it has maintained a degree of bank
secrecy and has kept up the franc's long-term external value.

Syria:
Syria's predominantly statist economy is on a shaky footing
because of Damascus's failure to implement extensive economic
reform. The dominant agricultural sector remains underdeveloped,
with roughly 80% of agricultural land still dependent on rain-fed
sources. Although Syria has sufficient water supplies in the
aggregate at normal levels of precipitation, the great distance
between major water supplies and population centers poses serious
distribution problems. The water problem is exacerbated by rapid
population growth, industrial expansion, and increased water
pollution. Private investment is critical to the modernization of
the agricultural, energy, and export sectors. Oil production is
leveling off, and the efforts of the nonoil sector to penetrate
international markets have fallen short. Syria's inadequate
infrastructure, outmoded technological base, and weak educational
system make it vulnerable to future shocks and hamper competition
with neighbors such as Jordan and Israel. The government recognizes
the need to open the economy to additional domestic and foreign
investment.

Tajikistan:
Tajikistan has the lowest per capita GDP among the 15
former Soviet republics. Cotton is the most important crop. Mineral
resources, varied but limited in amount, include silver, gold,
uranium, and tungsten. Industry consists only of a large aluminum
plant, hydropower facilities, and small obsolete factories mostly in
light industry and food processing. The Tajikistani economy has been
gravely weakened by six years of civil conflict and by the loss of
subsidies from Moscow and of markets for its products. Most of its
people live in abject poverty. Tajikistan depends on aid from Russia
and Uzbekistan and on international humanitarian assistance for much
of its basic subsistence needs. The future of Tajikistan's economy
and the potential for attracting foreign investment depend upon
stability and continued progress in the peace process.

Tanzania:
Tanzania is one of the poorest countries in the world. The
economy is heavily dependent on agriculture, which accounts for half
of GDP, provides 85% of exports, and employs 80% of the work force.
Topography and climatic conditions, however, limit cultivated crops
to only 4% of the land area. Industry is mainly limited to
processing agricultural products and light consumer goods. The World
Bank, the International Monetary Fund, and bilateral donors have
provided funds to rehabilitate Tanzania's deteriorated economic
infrastructure. Growth in 1991-2000 featured a pick up in industrial
production and a substantial increase in output of minerals, led by
gold. Natural gas exploration in the Rufiji Delta looks promising
and production could start by 2002. Recent banking reforms have
helped increase private sector growth and investment. Continued
donor support and solid macroeconomic policies should allow Tanzania
to achieve real GDP growth of 6% in 2001 and in 2002.

Thailand:
After enjoying the world's highest growth rate from 1985
to 1995 - averaging almost 9% annually - increased speculative
pressure on Thailand's currency in 1997 led to a crisis that
uncovered financial sector weaknesses and forced the government to
float the baht. Long pegged at 25 to the dollar, the baht reached
its lowest point of 56 to the dollar in January 1998 and the economy
contracted by 10.2% that same year. Thailand entered a recovery
stage in 1999, expanding 4.2% and grew about the same amount in
2000, largely due to strong exports - which increased about 20% in
2000. An ailing financial sector and the slow pace of corporate debt
restructuring, combined with a softening of global demand, is likely
to slow growth in 2001.

Togo:
This small sub-Saharan economy is heavily dependent on both
commercial and subsistence agriculture, which provides employment
for 65% of the labor force. Some basic foodstuffs must still be
imported. Together, cocoa, coffee, and cotton generate some 40% of
export earnings, with cotton being the most significant cash crop
despite falling prices on the world market. In the industrial
sector, phosphate mining is by far the most important activity. Togo
is the world's fourth largest producer, and geological advantages
keep production costs low. The recently privatized mining operation,
Office Togolais des Phosphates (OTP), is slowly recovering from a
steep fall in prices in the early 1990's, but continues to face the
challenge of tough foreign competition, exacerbated by weakening
demand. Togo serves as a regional commercial and trade center. It
continues to expand its duty-free export-processing zone (EPZ),
launched in 1989, which has attracted enterprises from France,
Italy, Scandinavia, the US, India, and China and created jobs for
Togolese nationals. The government's decade-long effort, supported
by the World Bank and the IMF, to implement economic reform
measures, encourage foreign investment, and bring revenues in line
with expenditures has stalled. Progress depends on following through
on privatization, increased openness in government financial
operations, progress towards legislative elections, and possible
downsizing of the military, on which the regime has depended to stay
in place. Lack of foreign aid, deterioration of the financial
sector, energy shortages, and depressed commodity prices continue to
constrain economic growth; however, Togo did realize a 3% gain in
GDP in 1999. The takeover of the national power company by a
Franco-Canadian consortium in 2000 should ease the energy crisis and
if successful legislative elections pave the way for increased aid,
growth should rise to 5% a year in 2001-02.

Tokelau:
Tokelau's small size (three villages), isolation, and lack
of resources greatly restrain economic development and confine
agriculture to the subsistence level. The people must rely on aid
from New Zealand to maintain public services, annual aid being
substantially greater than GDP. The principal sources of revenue
come from sales of copra, postage stamps, souvenir coins, and
handicrafts. Money is also remitted to families from relatives in
New Zealand.

Tonga:
Tonga has a small, open economy with a narrow export base in
agricultural goods, which contributes 30% to GDP. Squash, coconuts,
bananas, and vanilla beans are the main crops, and agricultural
exports make up two-thirds of total exports. The country must import
a high proportion of its food, mainly from New Zealand. The
industrial sector accounts for only 10% of GDP. Tourism is the
primary source of hard currency earnings. The country remains
dependent on sizable external aid and remittances from Tongan
communities overseas to offset its trade deficit. The government is
emphasizing the development of the private sector, especially the
encouragement of investment, and is committing increased funds for
health and education. Tonga has a reasonable basic infrastructure
and well-developed social services.