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Economy of Australia vs Eswatini compared: GDP & Debt

Updated on by Georank

Australia has a GDP of $1.8T compared to $5.16B for Eswatini, ranking 15/197 and 163/197 by economy size, respectively.

Australia has $918B in government debt (51% of GDP), compared to $2.31B (44.9% of GDP) in Eswatini.

Australia vs Eswatini GDP by year

Australia
Eswatini
1x
Year GDP, current $
Australia Eswatini
2025 $1,798,518,933,689 $5,160,679,613
2024 $1,757,022,451,653 $4,858,885,841
2023 $1,734,451,264,656 $4,621,191,262
2022 $1,695,627,535,476 $4,746,660,274
2021 $1,560,617,493,203 $4,807,069,277
2020 $1,333,336,461,648 $4,134,677,810
2019 $1,398,349,602,956 $4,617,018,959
2018 $1,433,144,978,762 $4,643,751,059
2017 $1,330,890,554,614 $4,462,640,651
2016 $1,211,588,128,418 $3,722,306,117
2015 $1,356,805,839,936 $3,908,217,914
2014 $1,474,677,007,566 $4,285,065,665
2013 $1,583,737,461,925 $4,463,396,204
2012 $1,552,728,401,402 $4,747,813,067
2011 $1,402,939,868,653 $4,722,912,047
2010 $1,152,566,632,022 $4,360,714,359
2009 $931,761,689,771 $3,525,213,502
2008 $1,058,448,244,064 $3,235,921,171
2007 $856,603,595,823 $3,391,122,887
2006 $749,708,370,333 $3,215,307,901
2005 $696,811,489,613 $3,097,946,371
2004 $615,643,050,221 $2,710,331,785
2003 $468,517,181,130 $2,149,632,433
2002 $396,436,967,263 $1,393,945,031
2001 $380,360,222,861 $1,502,870,486
2000 $416,901,962,163 $1,697,161,558
1999 $390,347,787,943 $1,547,888,496
1998 $400,361,527,505 $1,576,908,856
1997 $436,321,902,767 $1,716,714,070
1996 $401,962,517,479 $1,602,741,834
1995 $368,725,126,225 $1,698,989,464
1994 $323,269,456,935 $1,419,294,254
1993 $312,568,858,910 $1,357,189,552
1992 $325,982,966,981 $1,284,759,928
1991 $326,416,407,861 $1,156,135,718
1990 $311,840,666,465 $1,114,694,041
1989 $300,264,309,002 $696,921,542
1988 $236,461,079,970 $692,026,455
1987 $189,726,707,253 $584,126,092
1986 $182,707,050,923 $449,140,318
1985 $180,861,108,959 $360,079,419
1984 $193,749,932,078 $494,483,409
1983 $177,523,719,680 $555,336,146
1982 $194,323,071,831 $537,568,059
1981 $177,151,979,566 $570,774,825
1980 $150,200,557,103 $541,976,853
1979 $135,093,718,051 $412,093,134
1978 $118,660,813,780 $340,630,085
1977 $110,504,702,914 $304,060,076
1976 $105,209,354,856 $272,550,068
1975 $97,440,939,506 $288,299,789
1974 $89,086,219,602 $264,320,941
1973 $63,923,126,201 $221,915,128
1972 $52,117,990,654 $146,736,479
1971 $45,283,847,245 $136,462,081
1970 $41,395,206,623 $112,139,955
1969 $36,738,245,878 $105,419,958
1968 $32,763,365,242 $79,799,968
1967 $30,487,524,878 $74,759,970
1966 $27,349,284,376 $76,859,969
1965 $26,014,244,162 $70,279,972
1964 $23,835,843,814 $64,980,554
1963 $21,573,443,452 $54,129,438
1962 $19,953,923,193 $45,927,962
1961 $19,713,123,154 $43,026,043
1960 $18,635,682,982 $35,076,846

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/australia/eswatini | CC BY

GDP per capita in Australia vs Eswatini by year

Australia
GDP per capita

GDP per capita, PPP
Eswatini
GDP per capita

GDP per capita, PPP
1x
Year Current $
Australia Eswatini
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $65,130 - $4,108 -
2024 $64,610 $72,111 $3,910 $11,799
2023 $65,058 $72,273 $3,756 $11,300
2022 $65,170 $66,103 $3,894 $10,635
2021 $60,759 $58,327 $3,984 $9,990
2020 $51,983 $54,184 $3,467 $9,329
2019 $55,195 $52,886 $3,913 $9,248
2018 $57,410 $50,371 $3,973 $8,535
2017 $54,118 $48,565 $3,853 $8,584
2016 $50,084 $47,446 $3,238 $8,484
2015 $56,970 $46,465 $3,420 $8,391
2014 $62,817 $47,109 $3,771 $8,366
2013 $68,477 $46,123 $3,950 $8,231
2012 $68,301 $43,007 $4,225 $7,760
2011 $62,799 $42,153 $4,225 $7,571
2010 $52,314 $39,504 $3,923 $7,324
2009 $42,955 $40,434 $3,190 $7,011
2008 $49,811 $37,616 $2,947 $6,914
2007 $41,128 $36,708 $3,109 $6,732
2006 $36,659 $34,890 $2,965 $6,319
2005 $34,535 $33,090 $2,871 $5,773
2004 $30,886 $31,815 $2,526 $5,310
2003 $23,758 $30,167 $2,015 $5,020
2002 $20,335 $29,080 $1,316 $4,742
2001 $19,734 $27,688 $1,430 $4,521
2000 $21,909 $26,585 $1,630 $4,401
1999 $20,750 $25,531 $1,502 $4,272
1998 $21,516 $24,386 $1,547 $4,137
1997 $23,683 $23,142 $1,705 $4,038
1996 $22,056 $22,134 $1,619 $3,916
1995 $20,479 $21,050 $1,751 $3,777
1994 $18,156 $20,174 $1,461 $3,526
1993 $17,725 $19,220 $1,397 $3,371
1992 $18,650 $18,259 $1,362 $3,289
1991 $18,885 $17,839 $1,273 $3,236
1990 $18,274 $17,385 $1,278 $3,202
1989 $17,858 - $832 -
1988 $14,303 - $865 -
1987 $11,666 - $765 -
1986 $11,406 - $611 -
1985 $11,455 - $510 -
1984 $12,436 - $726 -
1983 $11,532 - $843 -
1982 $12,798 - $843 -
1981 $11,871 - $925 -
1980 $10,223 - $908 -
1979 $9,308 - $714 -
1978 $8,264 - $610 -
1977 $7,786 - $563 -
1976 $7,497 - $521 -
1975 $7,014 - $568 -
1974 $6,492 - $536 -
1973 $4,778 - $463 -
1972 $3,955 - $315 -
1971 $3,500 - $301 -
1970 $3,310 - $254.2 -
1969 $2,996 - $245.2 -
1968 $2,728 - $190.4 -
1967 $2,584 - $182.8 -
1966 $2,347 - $192.7 -
1965 $2,284 - $181 -
1964 $2,134 - $171.6 -
1963 $1,970 - $146.4 -
1962 $1,858 - $127.1 -
1961 $1,880 - $121.8 -
1960 $1,813 - $101.6 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/australia/eswatini | CC BY

Australia's GDP per capita is $65,130, ranking 14/197, compared to $4,108 in Eswatini, ranking 131/197. Adjusted for purchasing power (GDP per capita PPP), Australia ranks 22nd at $72,111, while Eswatini ranks 126th at $11,799.

Economic indicators

Australia Eswatini
Gross domestic product
$1.8T
2025
$5.16B
2025
GDP rank
15/197
2025
163/197
2025
GDP growth
1.35%
2024-2025
4.19%
2024-2025
GDP per capita
$65,130
2025
$4,108
2025
GDP per capita rank
14/197
2025
131/197
2025
GDP per capita, PPP
$72,111
2024
$11,799
2024
GDP per capita PPP rank
22/197
2024
126/197
2024
Government debt
$918B
2025
$2.31B
2025
Debt-to-GDP ratio
51%
2025
44.9%
2025
Government debt per person
$33,239
2025
$1,843
2025
Government debt per person rank
22/185
2025
121/185
2025
Average annual personal income after taxes
$50,637
2026
$4,770
2026
Market capitalization of domestic companies
$2.05T
2025
$234M
2007
Number of millionaires
1,634,000
2026
n/a
Number of billionaires
47
2026
1
2026
Income share by richest 10%
25.9%
2020
42.7%
2016
Income share by poorest 10%
2.6%
2020
1.4%
2016
Government expenditure, % of GDP
39.5%
2025
35.7%
2025
Consumer prices inflation
2.87%
2024-2025
2.6%
2018-2019
Central bank interest rate
4.35%
2026
6.75%
2025
Unemployment rate
4.2%
2025
34.3%
2023
Population
28010980
1276995

Spending and national debt comparison by year

Australia
Spending

Debt
Eswatini
Spending

Debt
1x
Year % of GDP
Australia Eswatini
Government spending Government debt Government spending Government debt
2025 39.5% 51% 35.7% 44.9%
2024 38.7% 50.6% 33.6% 40.1%
2023 37.4% 49.4% 31.5% 39.4%
2022 37.4% 50% 28.9% 39.5%
2021 41.7% 55.4% 29.3% 37.3%
2020 44.3% 56.9% 32.2% 37.7%
2019 38.8% 46.5% 32.8% 30.5%
2018 36.7% 41.6% 31.6% 26.5%
2017 36.6% 41% 33.6% 21.7%
2016 37.1% 40.5% 34% 20.1%
2015 37.1% 37.6% 34.5% 16%
2014 36.6% 33.9% 32.7% 14.1%
2013 36.2% 30.3% 28.8% 15.2%
2012 36.4% 27.4% 27.1% 14.8%
2011 36.2% 24% 25.1% 14.6%
2010 36.8% 20.3% 31.1% 14.2%
2009 37.6% 16.6% 33.9% 10.6%
2008 35% 11.7% 33.4% 14.6%
2007 34.2% 9.65% 30.4% 16.1%
2006 34.5% 9.92% 27.6% 14.7%
2005 34.5% 10.8% 29% 13.6%
2004 34.8% 11.9% 31% 15%
2003 34.9% 13.2% 25.9% 17.7%
2002 34.9% 15% 26.5% 17.2%
2001 35.6% 17.1% 25.6% 21.7%
2000 35.1% 19.5% 24.7% 18.2%
1999 36.2% 22.5% 25.8% 16.7%
1998 34.6% 23.7% 22% 15.6%
1997 32.8% 25.9% 20.7% 12.7%
1996 33.5% 29.3% 22.5% 11.5%
1995 33.6% 31.1% 19.9% 12.5%
1994 33.7% 31.7% 23.4% 13.1%
1993 34.1% 30.6% 23% 15%
1992 34% 27.6% 24.7% 16.6%
1991 33% 21.6% 19.6% 20.1%
1990 30.4% 16.4% 18.2% 20.4%
1989 34.5% 17% 15.8% 26.8%
1988 34.6% 20.5% 15.6% 27.5%
1987 36% 25.2% 17% 36.1%
1986 38.4% 25.5% 19.8% 44%
1985 38.7% 24% 22.3% 45.5%
1984 38.4% 22.3% 22.2% 29.7%
1983 37% 21% 23.2% 28.7%
1982 36.7% 16.8% 24% 29.2%
1981 33.4% 19.1% 23.8% 24.3%
1980 33.2% 21.2% 19.6% 27.2%
1979 32.5% 22.8% - -
1978 33.2% 24.7% - -
1977 34.1% 23.6% - -
1976 33.3% 22.9% - -
1975 33% 23.6% - -
1974 30.9% 22.3% - -
1973 26.6% 27.3% - -
1972 27% 30.7% - -
1971 26.1% 32.2% - -
1970 25.3% 34.9% - -
1969 24.7% 36.7% - -
1968 25.3% 39.4% - -
1967 26.4% 40.5% - -
1966 25.6% 42.4% - -
1965 25.8% 43.7% - -
1964 23.5% 44.9% - -
1963 23% 47.5% - -
1962 22.7% 50.2% - -
1961 23.3% 49.3% - -
1960 21.8% 48.3% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1992, retrieved 2026-07-08).

GeoRank.org/economy/australia/eswatini | CC BY

In 2025, Australia's government spending was $710B, accounting for 39.5% of its GDP, while Eswatini spent $1.84B, or 35.7% of GDP.

Debt-to-GDP ratio is 51% in Australia and 44.9% in Eswatini, ranking 104/185 and 118/185, respectively.

Government deficit by year

Deficit/surplus
Australia

Eswatini
1x
Year Deficit/surplus, % of GDP
Australia Eswatini
2025 -2.78% -6.14%
2024 -2.25% -1.06%
2023 -1.26% -0.66%
2022 -2.21% -5.27%
2021 -6.35% -4.55%
2020 -8.7% -4.21%
2019 -4.39% -6.23%
2018 -1.25% -6.59%
2017 -1.71% -5.64%
2016 -2.41% -8.36%
2015 -2.78% -5.89%
2014 -2.91% -1.16%
2013 -2.8% 0.57%
2012 -3.5% 3.39%
2011 -4.51% -3.88%
2010 -5.1% -9.34%
2009 -4.55% -3%
2008 -1.1% 1.58%
2007 1.47% 2.37%
2006 1.77% 8.67%
2005 1.7% -1.66%
2004 1.32% -3.97%
2003 1.05% -2.11%
2002 0.19% -3.69%
2001 -0.03% -2.24%
2000 1.25% -1.19%
1999 0.66% -1.23%
1998 -0.25% 1.05%
1997 -0.49% 2.06%
1996 -1.45% -0.97%
1995 -2.6% 0.87%
1994 -3.79% -3.43%
1993 -4.72% -3.15%
1992 -4.74% -2.76%
1991 -2.78% 3.28%
1990 -0.23% 5.47%
1989 -1.29% 5.82%
1988 -0.77% 3.23%
1987 -1.66% 2.03%
1986 -3.5% -2.41%
1985 -5.24% -1.33%
1984 -5.48% 1.25%
1983 -5.66% -0.6%
1982 -5.19% 0.11%
1981 -3.25% -4.29%
1980 -2.87% 6.55%
1979 -2.32% -
1978 -4.19% -
1977 -4.39% -
1976 -3.44% -
1975 -3.47% -
1974 -2.46% -
1973 0.16% -
1972 -0.97% -
1971 -0.23% -
1970 -0.23% -
1969 0.53% -
1968 -0.7% -
1967 -1.65% -
1966 -1.77% -
1965 -1.46% -
1964 0.19% -
1963 -0.26% -
1962 -0.38% -
1961 -0.78% -
1960 0.47% -
1959 0.06% -
1958 -0.25% -
1957 -0.33% -
1956 1% -
1955 0.08% -
1954 -0.27% -
1953 -0.86% -
1952 -0.44% -
1951 1.85% -
1950 4.29% -
1949 0.72% -
1948 2% -
1947 -0.45% -
1946 -4.09% -
1945 -8.87% -
1944 -11.8% -
1943 -12.4% -
1942 -5.17% -
1941 -2.14% -
1940 0.51% -
1939 0.77% -
1938 0.24% -
1937 0.28% -
1936 0.17% -
1935 0.24% -
1934 0.28% -
1933 0.28% -
1932 0.02% -
1931 -0.8% -
1930 -1% -
1929 -0.53% -
1928 -0.69% -
1927 -0.5% -
1926 -0.31% -
1925 -0.26% -
1924 -0.5% -
1923 -0.33% -
1922 -0.94% -
1921 -2% -
1920 -2.43% -
1919 -4.8% -
1918 -4.36% -
1917 -4.99% -
1916 -3.47% -
1915 -1.11% -
1914 -0.29% -
1913 0% -
1912 0.12% -
1911 0.39% -
1910 0.39% -
1909 0.37% -
1908 -0.15% -
1907 0.41% -
1906 0.23% -
1905 0.11% -
1904 -0.13% -
1903 -0.02% -
1902 0.16% -
1901 1.46% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1901–1989, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/australia/eswatini | CC BY

In 2025, Australia's government deficit, the difference between spending and revenue, was $50B, equivalent to 2.78% of GDP. This compares to Eswatini's deficit of $317M, or 6.14% of GDP.

Over the past 46 years, Australia recorded a fiscal deficit in 38 of those years, while Eswatini ran a deficit in 30 years. On average, Australia posted an annual deficit equal to 2.33% of GDP, compared to deficit of 1.28% of GDP for Eswatini.

Inflation comparison by year

Inflation
Australia

Eswatini
1x
Year Consumer prices inflation
Australia Eswatini
2025 2.87% -
2024 3.17% -
2023 5.6% -
2022 6.59% -
2021 2.86% -
2020 0.85% -
2019 1.61% 2.6%
2018 1.91% 4.82%
2017 1.95% 6.22%
2016 1.28% 7.85%
2015 1.51% 4.95%
2014 2.49% 5.68%
2013 2.45% 5.62%
2012 1.76% 8.94%
2011 3.3% 6.11%
2010 2.92% 4.51%
2009 1.77% 7.45%
2008 4.35% 12.7%
2007 2.33% 8.08%
2006 3.56% 5.3%
2005 2.69% 4.77%
2004 2.34% 3.45%
2003 2.73% 7.29%
2002 2.98% 12%
2001 4.41% 5.94%
2000 4.46% 12.2%
1999 1.48% 6.09%
1998 0.86% 8.11%
1997 0.22% 7.13%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/australia/eswatini | CC BY

Over the past 23 years, Australia has recorded an average annual inflation rate of 2.41%, compared with 6.86% in Eswatini. In 2019, inflation was 2.87% in Australia and 2.6% in Eswatini.

Top exports between countries

Australia
Export category Export value
Machinery & equipment $200K
Precious metals & jewellery $46K
Textiles & consumer goods $43K
Raw materials & minerals $31K
Miscellaneous $15K
Chemicals & pharma $4K
Eswatini
Export category Export value
Chemicals & pharma $43K
Processed food, beverages & tobacco $38K
Textiles & consumer goods $16K
Wood & paper products $12K
Raw materials & minerals $3K
Miscellaneous $2K
Precious metals & jewellery $2K
Machinery & equipment $1K

Balance of trade

Australia Eswatini
Current account balance
-$48.2B
2025
$78.3M
2024
Current account balance ranking
187/190
2025
65/190
2024
Current account balance, % of GDP
-2.68%
2025
+1.61%
2024
Goods imports
$309B
2025
$2.07B
2024
Goods exports
$337B
2025
$2.33B
2024
Service imports
$116B
2025
$542M
2024
Service exports
$91.6B
2025
$234M
2024
Imports of goods and services, % of GDP
22.7%
2025
53.7%
2024
Exports of goods and services, % of GDP
23.2%
2025
53.8%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Australia Eswatini
Economic freedom 80.1 57.5
Economic freedom ranking 5/197 116/197
Property rights 88.2 42.5
Government integrity 88.1 29.7
Judicial effectiveness 96.3 35.5
Tax burden 61.8 78.6
Government spending 56.6 71
Fiscal health 89 87.5
Business freedom 92.3 49.9
Labor freedom 61.5 55.2
Monetary freedom 77.2 76.8
Trade freedom 89.8 73.6
Investment freedom 80 50
Financial freedom 80 40

Economic freedom comparison by year

Australia
Eswatini
1x
Year Economic freedom index
Australia Eswatini
2026 80.1 57.5
2025 79.3 56.4
2024 76.2 55.6
2023 74.8 54.9
2022 77.7 51.4
2021 82.4 55.1
2020 82.6 55.3
2019 80.9 54.7
2018 80.9 55.9
2017 81 61.1
2016 80.3 59.7
2015 81.4 59.9
2014 82 61.2
2013 82.6 57.2
2012 83.1 57.2
2011 82.5 59.1
2010 82.6 57.4
2009 82.6 59.1
2008 82.2 58.4
2007 81.1 60.1
2006 79.9 61.4
2005 79 59.4
2004 77.9 58.6
2003 77.4 59.6
2002 77.3 60.9
2001 77.4 63.6
2000 77.1 62.6
1999 76.4 62.1
1998 75.6 62
1997 75.5 59.4
1996 74 58.6
1995 74.1 63.3

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/australia/eswatini | CC BY

The Economic Freedom Index for Australia is 80.1, ranking 5/197, compared to 57.5 for Eswatini, ranking 116/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Australia Eswatini
Services, % of GDP
67.5%
2025
52.4%
2025
Industry, % of GDP
23.9%
2025
33.6%
2025
Agriculture, forestry, and fishing, % of GDP
2.27%
2025
6.41%
2025
GNI, Atlas method
$1.77T
2025
$4.69B
2025
GNI per capita, PPP
$69,930
2025
$11,390
2025
Total reserves including gold
$72.6B
2025
$537M
2024
Total reserves ranking
37/177
2025
157/177
2024
Net foreign direct investment
-$41.1B
2025
-$11.8M
2024
Net inflows of foreign direct investment
$53.7B
2024
$75.5M
2024
Net outflows of foreign direct investment
$13.9B
2024
$63.8M
2024
Servicing debt to the IMF, % of GNI n/a
4.88%
2024
Poverty at national poverty lines n/a
58.9%
2016
Gross capital formation, % of GDP
24.5%
2025
15%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/australia/eswatini | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.