The Vehicles Market in Swaziland is experiencing difficulties due to falling commodity prices and declining transport industries and tourism. The market for new cars is still very minor as 95% of the vehicles distributed in the country are utilized and purchased in South Africa. Encircled by South Africa, except for a short border with Mozambique, 60% of Swaziland relies on South Africa for its exports and more than 90% of imports. Swaziland's currency is linked to the South African rand, which effectively withdraws Swaziland's financial policy to South Africa.
The importance of mining has decreased significantly in recent years. Coal, diamond, gold, and quarry mines are small, and the only steel mine closed in 2014. With an unemployment rate of around 40%, Swaziland should boost the number and size of small and medium investments and attract foreign investment. Direct investment is risky. Overgrazing, soil erosion, drought, and flooding are ongoing problems.
The IMF predicted that Swaziland's economy would grow slowly in 2016/2017 due to a region-wide shortage, which could hurt Swaziland's revenue through exports of sugar and other agricultural products and a slowdown in the transport and tourism industry Swaziland. Revenue from receipts and remittances from SACU from our citizens abroad will also decrease in 2016-2017, making it difficult to maintain a financial balance.
Swaziland, The market for new cars, has not started yet, and 95% of the cars on the road are imported, used cars coming from South Africa. New car sales reached a record 2812 units in 2013 before falling to 2.237 in 2016 and 2.204 (-2.3%) in 2017.
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