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Economy of Benin vs Eswatini compared: GDP & Debt

Updated on by Georank team

Benin has a GDP of $21.5B compared to $4.86B for Eswatini, ranking 126/197 and 162/197 by economy size, respectively.

Benin has $11.5B in government debt (53.4% of GDP), compared to $1.93B (39.8% of GDP) in Eswatini.

Benin vs Eswatini GDP by year

Benin
Eswatini
1x
Year GDP, current $
Benin Eswatini
2024 $21,482,643,706 $4,858,885,841
2023 $19,673,291,004 $4,621,191,262
2022 $17,425,405,091 $4,746,660,274
2021 $17,687,623,530 $4,807,069,277
2020 $15,686,741,884 $4,134,677,810
2019 $14,391,686,313 $4,617,018,959
2018 $14,262,408,090 $4,643,751,059
2017 $12,701,655,837 $4,462,640,651
2016 $11,821,065,853 $3,722,306,117
2015 $11,388,160,997 $3,908,217,914
2014 $13,284,527,847 $4,285,065,665
2013 $12,517,845,124 $4,463,396,204
2012 $11,141,358,116 $4,747,813,067
2011 $10,693,321,364 $4,722,912,047
2010 $9,535,345,016 $4,360,714,359
2009 $9,738,626,517 $3,525,213,502
2008 $9,787,734,526 $3,235,921,171
2007 $8,169,048,383 $3,391,122,887
2006 $7,034,111,315 $3,215,307,901
2005 $6,567,654,954 $3,097,946,371
2004 $6,190,270,380 $2,710,331,785
2003 $5,349,258,094 $2,149,632,433
2002 $4,194,342,686 $1,393,945,031
2001 $3,666,222,635 $1,502,870,486
2000 $3,519,991,440 $1,697,161,558
1999 $3,677,393,999 $1,547,888,496
1998 $2,455,092,686 $1,576,908,856
1997 $2,268,301,646 $1,716,714,070
1996 $2,361,116,449 $1,602,741,834
1995 $2,169,627,138 $1,698,989,464
1994 $1,598,075,944 $1,419,294,254
1993 $2,274,558,083 $1,357,189,552
1992 $1,695,315,306 $1,284,759,928
1991 $1,986,437,797 $1,156,135,718
1990 $1,959,965,330 $1,114,694,041
1989 $1,502,294,416 $696,921,542
1988 $1,620,246,084 $692,026,455
1987 $1,562,412,228 $584,126,092
1986 $1,336,102,025 $449,140,318
1985 $1,045,712,789 $360,079,419
1984 $1,051,134,009 $494,483,409
1983 $1,095,348,199 $555,336,146
1982 $1,267,778,670 $537,568,059
1981 $1,291,120,188 $570,774,825
1980 $1,405,251,847 $541,976,853
1979 $1,186,231,020 $412,093,134
1978 $928,843,469 $340,630,085
1977 $750,049,779 $304,060,076
1976 $698,408,262 $272,550,068
1975 $676,870,140 $288,299,789
1974 $554,654,861 $264,320,941
1973 $504,376,074 $221,915,128
1972 $410,331,857 $146,736,479
1971 $335,073,028 $136,462,081
1970 $333,627,713 $112,139,955
1969 $330,748,245 $105,419,958
1968 $326,323,105 $79,799,968
1967 $306,221,953 $74,759,970
1966 $302,925,235 $76,859,969
1965 $289,908,680 $70,279,972
1964 $269,819,006 $64,980,554
1963 $253,927,697 $54,129,438
1962 $236,434,954 $45,927,962
1961 $235,668,221 $43,026,043
1960 $226,195,578 $35,076,846

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Benin vs Eswatini by year

Benin
GDP per capita

GDP per capita, PPP
Eswatini
GDP per capita

GDP per capita, PPP
1x
Year Current $
Benin Eswatini
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,485 $4,435 $3,910 $11,799
2023 $1,394 $4,130 $3,756 $11,300
2022 $1,266 $3,844 $3,894 $10,635
2021 $1,319 $3,464 $3,984 $9,990
2020 $1,200 $3,245 $3,467 $9,329
2019 $1,131 $3,149 $3,913 $9,248
2018 $1,152 $2,965 $3,973 $8,535
2017 $1,055 $2,886 $3,853 $8,584
2016 $1,011 $2,842 $3,238 $8,484
2015 $1,002 $2,725 $3,420 $8,391
2014 $1,204 $2,670 $3,771 $8,366
2013 $1,169 $2,512 $3,950 $8,231
2012 $1,072 $2,346 $4,225 $7,760
2011 $1,059 $2,265 $4,225 $7,571
2010 $973 $2,220 $3,923 $7,324
2009 $1,024 $2,213 $3,190 $7,011
2008 $1,061 $2,215 $2,947 $6,914
2007 $912 $2,136 $3,109 $6,732
2006 $809 $2,021 $2,965 $6,319
2005 $779 $1,946 $2,871 $5,773
2004 $759 $1,915 $2,526 $5,310
2003 $676 $1,842 $2,015 $5,020
2002 $546 $1,800 $1,316 $4,742
2001 $492 $1,746 $1,430 $4,521
2000 $487 $1,671 $1,630 $4,401
1999 $525 $1,592 $1,502 $4,272
1998 $362 $1,537 $1,547 $4,137
1997 $345 $1,508 $1,705 $4,038
1996 $369 $1,444 $1,619 $3,916
1995 $348 $1,395 $1,751 $3,777
1994 $262.1 $1,316 $1,461 $3,526
1993 $387 $1,311 $1,397 $3,371
1992 $302 $1,265 $1,362 $3,289
1991 $365 $1,239 $1,273 $3,236
1990 $371 $1,186 $1,278 $3,202
1989 $293.3 - $832 -
1988 $326 - $865 -
1987 $324 - $765 -
1986 $285.8 - $611 -
1985 $230.4 - $510 -
1984 $238.6 - $726 -
1983 $256 - $843 -
1982 $305 - $843 -
1981 $320 - $925 -
1980 $358 - $908 -
1979 $311 - $714 -
1978 $249.8 - $610 -
1977 $207 - $563 -
1976 $197.7 - $521 -
1975 $196.5 - $568 -
1974 $164.9 - $536 -
1973 $153.6 - $463 -
1972 $127.9 - $315 -
1971 $106.9 - $301 -
1970 $108.8 - $254.2 -
1969 $110.3 - $245.2 -
1968 $111.2 - $190.4 -
1967 $106.6 - $182.8 -
1966 $107.6 - $192.7 -
1965 $105.1 - $181 -
1964 $99.8 - $171.6 -
1963 $95.7 - $146.4 -
1962 $90.8 - $127.1 -
1961 $92.1 - $121.8 -
1960 $89.9 - $101.6 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

Benin's GDP per capita is $1,485, ranking 162/197, compared to $3,910 in Eswatini, ranking 131/197. Adjusted for purchasing power (GDP per capita PPP), Benin ranks 162nd at $4,435, while Eswatini ranks 126th at $11,799.

Economic indicators

Benin Eswatini
Gross domestic product
$21.5B
2024
$4.86B
2024
GDP rank
126/197
2024
162/197
2024
GDP growth
7.45%
2023-2024
2.97%
2023-2024
GDP per capita
$1,485
2024
$3,910
2024
GDP per capita rank
162/197
2024
131/197
2024
GDP per capita, PPP
$4,435
2024
$11,799
2024
GDP per capita PPP rank
162/197
2024
126/197
2024
Government debt
$11.5B
2024
$1.93B
2024
Debt-to-GDP ratio
53.4%
2024
39.8%
2024
Government debt per person
$794
2024
$1,554
2024
Government debt per person rank
151/185
2024
130/185
2024
Average annual personal income after taxes
$1,091
2026
$3,913
2026
Market capitalization of domestic companies n/a
$234M
2007
Number of billionaires n/a
1
2025
Income share by richest 10%
27.2%
2021
42.7%
2016
Income share by poorest 10%
3.1%
2021
1.4%
2016
Government expenditure, % of GDP
18.1%
2024
33.3%
2024
Consumer prices inflation
1.2%
2023-2024
2.6%
2018-2019
Central bank interest rate n/a
6.75%
2025
Unemployment rate
1.69%
2022
34.6%
2023
Population
15272847
1273390

Spending and national debt comparison by year

Benin
Spending

Debt
Eswatini
Spending

Debt
1x
Year % of GDP
Benin Eswatini
Government spending Government debt Government spending Government debt
2024 18.1% 53.4% 33.3% 39.8%
2023 19.2% 54.9% 32% 40%
2022 19.9% 54.2% 29.6% 40.5%
2021 19.9% 50.3% 30.1% 38.4%
2020 19.1% 46.1% 32.7% 38.2%
2019 14.3% 40.4% 32.9% 30.7%
2018 16.5% 40.8% 32.2% 27%
2017 17.7% 39.4% 33.9% 21.9%
2016 15.4% 35.9% 34.7% 20.5%
2015 18.2% 30.9% 35.3% 16.4%
2014 14.2% 22.3% 33.3% 14.3%
2013 14.9% 18.5% 29.4% 15.5%
2012 14.2% 19.5% 27.8% 15.2%
2011 14.7% 21.9% 26% 15.1%
2010 14.1% 21% 31.6% 14.5%
2009 17% 18.7% 34.5% 10.8%
2008 14.5% 18.3% 34.4% 15%
2007 15.8% 14.3% 31.2% 16.6%
2006 13% 8.37% 28.2% 15%
2005 14.1% 27% 29.7% 13.9%
2004 13.4% 21.5% 32% 15.5%
2003 13.7% 23.4% 26.4% 18%
2002 15.3% 30.8% 27.2% 17.6%
2001 15.4% 38% 26.4% 22.4%
2000 15.6% 39.6% 25.3% 18.7%
1999 10.7% 39.4% 26.5% 17.2%
1998 10.9% 39.2% 22.5% 15.9%
1997 12.7% 42.9% 21.2% 13%
1996 13.3% 43.4% 23.3% 12%
1995 14.8% 48.3% 20.5% 12.9%
1994 13.6% 64.6% 24.7% 13.8%
1993 12% 41.9% 24% 15.6%
1992 13.5% 41.8% 26% 16.6%
1991 12.6% 44% 20.3% 20.1%
1990 13.3% 45.3% 18.7% 20.4%
1989 17.1% 50.3% 15.8% 26.8%
1988 - - 15.6% 27.5%
1987 - - 17% 36.1%
1986 - - 19.8% 44%
1985 - - 22.3% 45.5%
1984 - - 22.2% 29.7%
1983 - - 23.2% 28.7%
1982 - - 24% 29.2%
1981 - - 23.8% 24.3%
1980 - - 19.6% 27.2%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1997, retrieved 2026-02-20).

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

In 2024, Benin's government spending was $3.88B, accounting for 18.1% of its GDP, while Eswatini spent $1.62B, or 33.3% of GDP.

Debt-to-GDP ratio is 53.4% in Benin and 39.8% in Eswatini, ranking 99/185 and 134/185, respectively.

Government deficit by year

Deficit/surplus
Benin

Eswatini
1x
Year Deficit/surplus, % of GDP
Benin Eswatini
2024 -3.06% -1.36%
2023 -4.13% -0.67%
2022 -5.55% -5.4%
2021 -5.71% -4.68%
2020 -4.68% -4.27%
2019 -0.53% -6.26%
2018 -2.96% -6.72%
2017 -4.18% -5.68%
2016 -4.29% -8.54%
2015 -5.55% -6.03%
2014 -1.65% -1.18%
2013 -1.37% 0.59%
2012 -0.22% 3.48%
2011 -0.98% -4.02%
2010 -0.28% -9.52%
2009 -2.24% -3.06%
2008 -0.04% 1.63%
2007 0.22% 2.44%
2006 -0.15% 8.88%
2005 -1.52% -1.7%
2004 -0.7% -4.1%
2003 -1.07% -2.15%
2002 -3.33% -3.78%
2001 -3.27% -2.31%
2000 -3.69% -1.22%
1999 1.94% -1.27%
1998 1.83% 1.07%
1997 0.47% 2.11%
1996 -0.11% -1%
1995 -1.91% 0.9%
1994 -1.57% -3.61%
1993 -0.41% -3.29%
1992 -1.98% -2.9%
1991 -2.25% 3.4%
1990 -2.37% 5.61%
1989 0.89% 5.82%
1988 - 3.23%
1987 - 2.03%
1986 - -2.41%
1985 - -1.33%
1984 - 1.25%
1983 - -0.6%
1982 - 0.11%
1981 - -4.29%
1980 - 6.55%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20).

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

In 2024, Benin's government deficit, the difference between spending and revenue, was $658M, equivalent to 3.06% of GDP. This compares to Eswatini's deficit of $66.2M, or 1.36% of GDP.

Over the past 36 years, Benin recorded a fiscal deficit in 31 of those years, while Eswatini ran a deficit in 25 years. On average, Benin posted an annual deficit equal to 1.84% of GDP, compared to deficit of 1.63% of GDP for Eswatini.

Inflation comparison by year

Inflation
Benin

Eswatini
1x
Year Consumer prices inflation
Benin Eswatini
2024 1.2% -
2023 2.7% -
2022 1.4% -
2021 1.7% -
2020 3% -
2019 -0.9% 2.6%
2018 0.8% 4.82%
2017 1.8% 6.22%
2016 -0.8% 7.85%
2015 0.2% 4.95%
2014 -0.6% 5.68%
2013 0.4% 5.62%
2012 6.7% 8.94%
2011 2.7% 6.11%
2010 2.1% 4.51%
2009 0.9% 7.45%
2008 7.4% 12.7%
2007 1.3% 8.08%
2006 3.8% 5.3%
2005 5.4% 4.77%
2004 0.9% 3.45%
2003 1.5% 7.29%
2002 2.4% 12%
2001 4% 5.94%
2000 4.2% 12.2%
1999 0.3% 6.09%
1998 5.8% 8.11%
1997 3.8% 7.13%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2019, retrieved 2026-04-06).

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

Over the past 23 years, Benin has recorded an average annual inflation rate of 2.35%, compared with 6.86% in Eswatini. In 2019, inflation was 1.2% in Benin and 2.6% in Eswatini.

Balance of trade

Benin Eswatini
Current account balance
-$1.61B
2023
$78.3M
2024
Current account balance ranking
135/190
2023
69/190
2024
Current account balance, % of GDP
-8.18%
2023
+1.61%
2024
Goods imports
$4.65B
2023
$2.07B
2024
Goods exports
$4.05B
2023
$2.33B
2024
Service imports
$1.54B
2023
$542M
2024
Service exports
$461M
2023
$234M
2024
Imports of goods and services, % of GDP
21.8%
2024
53.7%
2024
Exports of goods and services, % of GDP
18.8%
2024
53.8%
2024

Economic freedom indices

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

Benin Eswatini
Economic freedom 60 57.5
Economic freedom ranking 96/197 116/197
Property rights 46.4 42.5
Government integrity 44.1 29.7
Judicial effectiveness 47.7 35.5
Tax burden 69.4 78.6
Government spending 89.1 71
Fiscal health 65.4 87.5
Business freedom 53.3 49.9
Labor freedom 60.2 55.2
Monetary freedom 82.1 76.8
Trade freedom 62.6 73.6
Investment freedom 50 50
Financial freedom 50 40

Economic freedom comparison by year

Benin
Eswatini
1x
Year Economic freedom index
Benin Eswatini
2026 60 57.5
2025 58.5 56.4
2024 57.7 55.6
2023 59.8 54.9
2022 61 51.4
2021 59.6 55.1
2020 55.2 55.3
2019 55.3 54.7
2018 56.7 55.9
2017 59.2 61.1
2016 59.3 59.7
2015 58.8 59.9
2014 57.1 61.2
2013 57.6 57.2
2012 55.7 57.2
2011 56 59.1
2010 55.4 57.4
2009 55.4 59.1
2008 55.2 58.4
2007 55.1 60.1
2006 54 61.4
2005 52.3 59.4
2004 54.6 58.6
2003 54.9 59.6
2002 57.3 60.9
2001 60.1 63.6
2000 61.5 62.6
1999 60.6 62.1
1998 61.7 62
1997 61.3 59.4
1996 54.5 58.6
1995 - 63.3

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Benin is 60, ranking 96/197, 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

Benin Eswatini
Services, % of GDP
48.9%
2024
51.4%
2024
Industry, % of GDP
17.4%
2024
34.7%
2024
Agriculture, forestry, and fishing, % of GDP
24.2%
2024
6.48%
2024
GNI, Atlas method
$20.6B
2024
$4.46B
2024
GNI per capita, PPP
$4,390
2024
$10,760
2024
Total reserves including gold n/a
$479M
2023
Total reserves ranking n/a
159/177
2023
Net foreign direct investment
-$430M
2023
-$11.8M
2024
Net inflows of foreign direct investment
$543M
2024
$75.5M
2024
Net outflows of foreign direct investment
$60.3M
2024
$63.8M
2024
Servicing debt to the IMF, % of GNI
5.38%
2024
4.68%
2024
Poverty at national poverty lines
36.2%
2021
58.9%
2016
Gross capital formation, % of GDP
35.1%
2024
15%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1980–1997, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

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.