Eswatini's Trade Surplus Widens to E687.9 Million in September

Eswatini's trade surplus widened to E687.9 million in September, driven by a significant increase in sugar and soft drink concentrate exports. The country's external trade position improved notably during the month, with the positive trade balance increasing from E372 million in August 2026, representing an increase of E315.9 million. This improvement was largely due to stronger export earnings, particularly from sugar and sugar products.

According to the Central Bank of Eswatini's August/September 2026 Recent Economic Developments report, exports increased by 14.1 per cent month-on-month to E4.2 billion in September, while registering a marginal year-on-year growth of 1 per cent. The performance was supported by higher receipts from sugar exports, alongside an improvement in exports of soft drink concentrates, which benefited from increased production.

On the other hand, imports also increased during the month, although at a slower pace than exports. They grew by 6 per cent month-on-month to E3.5 billion, representing a 5 per cent increase compared to September 2025. When adjusted for seasonal variations, exports amounted to E3.7 billion, while imports stood at E3.4 billion, resulting in a seasonally adjusted trade surplus of E317.9 million.

Despite the improvement recorded in September, the country's cumulative trade performance remained weaker than that of the corresponding period last year. The Central Bank reported that the trade surplus for the January to September 2026 period stood at E2.7 billion, compared to E3.2 billion recorded during the same nine-month period in 2025.

A closer examination of the country's major export commodities shows that sugar was the strongest performer in September, with earnings increasing significantly on both monthly and annual comparisons. Soft drink concentrates, which remain Eswatini's leading export product, generated E1.8 billion in September, representing a 12.2 per cent increase from the previous month.

The textile and textile apparel industry also recorded an improvement in export performance, with exports amounting to E402.6 million in September, reflecting a notable 27.4 per cent increase month-on-month. On an annual basis, textile and textile apparel exports grew by 9.7 per cent, indicating an improvement compared to September 2025.

In contrast, the wood and wood articles category recorded a decline in export earnings, with exports valued at E272.5 million, representing a 2 per cent decrease month-on-month and a 2.8 per cent decline year-on-year. The country's four primary export commodities collectively accounted for 84 per cent of total exports during the month.

Key points

• Eswatini's trade surplus increased to E687.9 million in September due to stronger sugar and soft drink concentrate exports.