Evolution of Trade in Swaziland from 1968 to 2015: A developmental perspective
Using time series data, from 1968 and 2015, this paper assessed how trade in Swaziland has evolved taking into account: the institutional frameworks that have been put in place in an effort to promote trade. The paper examines the trends of selected economic indicators such as the current account and the trade to Gross Domestic Product ratio.
The study provides evidence that even though the country has put in place institutional frameworks to facilitate trade, the current account has been mostly negative for the most part of the review period, the export basket and export destinations have experienced minimal changes, imports sources showed insignificant changes, and trade to Gross Domestic Product ratio has remained below 20%. Based on these observed trends, it is apparent that Swaziland had not been able to take advantage of the trade agreements, at least not to their full potential. Given that trade targets at, among other things, fostering economic growth, it is apparent that Swaziland has, in the past decade, failed to take advantage of the full potential of trade since the balance of payment has remained largely negative over the review period.Download PDF