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Economy of Cameroon vs Eswatini compared: GDP & Debt

Updated on by Georank team

Cameroon has a GDP of $53.3B compared to $4.86B for Eswatini, ranking 91/197 and 162/197 by economy size, respectively.

Cameroon has $22.7B in government debt (38.6% of GDP), compared to $1.81B (39.9% of GDP) in Eswatini.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Cameroon
GDP, current $

GDP, constant 2015 $
Eswatini
GDP, current $

GDP, constant 2015 $
Year GDP
Cameroon Eswatini
Current $ Constant $ Current $ Constant $
1960 $614,206,068 $4,827,329,402 $35,076,846 -
1961 $652,777,608 $4,884,469,574 $43,026,043 -
1962 $694,247,864 $5,033,033,600 $45,927,962 -
1963 $718,320,845 $5,221,397,415 $54,129,438 -
1964 $776,650,177 $5,406,608,720 $64,980,554 -
1965 $814,083,266 $5,516,149,517 $70,279,972 -
1966 $851,112,535 $5,770,717,369 $76,859,969 -
1967 $936,175,260 $5,141,012,904 $74,759,970 -
1968 $1,046,191,218 $5,467,278,233 $79,799,968 -
1969 $1,100,551,489 $5,735,255,756 $105,419,958 -
1970 $1,151,216,993 $5,912,593,777 $112,139,955 $399,193,833
1971 $1,236,941,394 $6,118,334,765 $136,462,081 $454,057,572
1972 $1,498,251,890 $6,281,929,449 $146,736,479 $478,686,990
1973 $1,901,393,361 $6,618,369,537 $221,915,128 $521,858,208
1974 $2,157,415,533 $7,328,802,680 $264,320,941 $551,831,066
1975 $2,857,037,371 $8,152,930,849 $288,299,789 $628,582,182
1976 $2,898,090,002 $7,704,916,015 $272,550,068 $615,259,773
1977 $3,394,664,024 $8,763,561,577 $304,060,076 $621,471,392
1978 $4,662,852,583 $10,691,808,462 $340,630,085 $629,719,118
1979 $5,919,002,983 $11,337,071,802 $412,093,134 $649,284,145
1980 $6,674,569,047 $11,114,265,274 $541,976,853 $730,113,867
1981 $6,610,938,617 $13,012,879,895 $570,774,825 $837,013,058
1982 $6,611,255,964 $13,990,954,313 $537,568,059 $846,827,605
1983 $6,870,200,010 $14,951,689,440 $555,336,146 $857,009,478
1984 $7,311,938,026 $16,069,264,314 $494,483,409 $909,816,303
1985 $8,544,810,498 $17,364,955,075 $360,079,419 $944,320,319
1986 $11,857,056,199 $18,540,851,327 $449,140,318 $1,060,136,277
1987 $13,049,659,981 $18,142,844,102 $584,126,092 $1,214,986,039
1988 $12,236,057,362 $16,723,414,750 $692,026,455 $1,294,808,454
1989 $11,012,566,195 $16,419,195,682 $696,921,542 $1,461,982,521
1990 $12,314,482,628 $15,416,689,238 $1,114,694,041 $1,769,262,015
1991 $11,840,192,296 $14,829,529,308 $1,156,135,718 $1,800,407,691
1992 $12,071,775,335 $14,369,813,424 $1,284,759,928 $1,858,492,562
1993 $16,181,814,713 $13,229,990,256 $1,357,189,552 $1,916,219,460
1994 $8,902,446,252 $13,478,291,934 $1,419,294,254 $1,962,221,978
1995 $10,864,772,471 $13,868,353,888 $1,698,989,464 $2,056,911,966
1996 $11,093,538,846 $14,452,915,010 $1,602,741,834 $2,135,939,631
1997 $10,789,458,433 $15,107,243,821 $1,716,714,070 $2,202,213,675
1998 $11,298,144,990 $15,821,141,893 $1,576,908,856 $2,259,560,190
1999 $11,565,826,465 $16,534,881,735 $1,547,888,496 $2,326,236,994
2000 $10,566,579,295 $17,168,567,485 $1,697,161,558 $2,367,182,799
2001 $10,953,485,349 $17,910,981,186 $1,502,870,486 $2,400,612,485
2002 $12,417,251,350 $18,712,860,619 $1,393,945,031 $2,498,765,078
2003 $15,970,315,035 $19,733,301,669 $2,149,632,433 $2,612,175,410
2004 $18,826,214,136 $21,124,275,033 $2,710,331,785 $2,706,660,912
2005 $19,509,852,207 $21,594,980,960 $3,097,946,371 $2,868,851,690
2006 $20,910,512,975 $22,417,659,743 $3,215,307,901 $3,061,891,254
2007 $23,928,250,433 $23,387,803,923 $3,391,122,887 $3,194,095,190
2008 $27,715,142,033 $24,053,813,244 $3,235,921,171 $3,240,107,843
2009 $27,932,970,317 $24,674,221,649 $3,525,213,502 $3,286,542,196
2010 $27,507,501,821 $25,389,533,435 $4,360,714,359 $3,412,233,861
2011 $30,630,910,495 $26,247,499,414 $4,722,912,047 $3,475,009,965
2012 $30,155,062,329 $27,461,703,152 $4,747,813,067 $3,617,154,619
2013 $33,728,621,180 $28,833,560,541 $4,463,396,204 $3,765,262,097
2014 $36,386,544,706 $30,482,787,768 $4,285,065,665 $3,842,727,914
2015 $32,210,233,020 $32,210,233,020 $3,908,217,914 $3,908,217,914
2016 $33,814,337,044 $33,671,222,913 $3,722,306,117 $4,023,477,835
2017 $36,098,547,033 $34,863,580,363 $4,462,640,651 $4,165,142,617
2018 $39,955,552,190 $36,242,614,249 $4,643,751,059 $4,167,866,439
2019 $39,667,757,528 $37,502,066,833 $4,617,018,959 $4,435,938,144
2020 $40,773,241,177 $37,599,547,049 $4,134,677,810 $4,304,996,590
2021 $45,011,937,347 $38,854,942,335 $4,807,069,277 $4,487,365,679
2022 $44,347,206,073 $40,306,867,605 $4,746,660,274 $4,504,690,089
2023 $48,814,501,547 $41,656,165,354 $4,621,191,262 $4,663,821,718
2024 $53,296,694,320 $43,124,429,829 $4,858,885,841 $4,802,519,614

Economic indicators

Cameroon Eswatini
Gross domestic product
$53.3B
2024
$4.86B
2024
GDP rank
91/197
2024
162/197
2024
GDP growth
9.18%
2023-2024
5.14%
2023-2024
GDP per capita
$1,830
2024
$3,910
2024
GDP per capita rank
158/197
2024
131/197
2024
GDP per capita, PPP
$5,589
2024
$11,799
2024
Government debt
$22.7B
2024
$1.81B
2024
Debt-to-GDP ratio
38.6%
2026
39.9%
2026
Government debt per person
$781
2024
$1,455
2024
Government debt per person rank
152/185
2024
133/185
2024
Average annual personal income after taxes
$1,492
2026
$3,418
2026
Market capitalization of domestic companies n/a
$234M
2007
Number of billionaires n/a
1
2025
Income share by richest 10%
31.1%
2021
42.7%
2016
Income share by poorest 10%
2.1%
2021
1.4%
2016
Government expenditure, % of GDP
16.4%
2026
31.4%
2026
Consumer prices inflation
4.53%
2023-2024
2.6%
2018-2019
Central bank interest rate n/a
7%
2024
Unemployment rate
3.28%
2021
34.6%
2023
Population
30649220
1270000

GDP per capita in Cameroon vs Eswatini

Cameroon's GDP per capita is $1,830, ranking 158/197, compared to $3,910 in Eswatini, ranking 131/197. Adjusted for purchasing power (GDP per capita PPP), Cameroon ranks 156th at $5,589, while Eswatini ranks 126th at $11,799.

Cameroon
GDP per capita

GDP per capita, PPP
Eswatini
GDP per capita

GDP per capita, PPP
Year Current $
Cameroon Eswatini
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $119.1 - $101.6 -
1961 $124.6 - $121.8 -
1962 $130 - $127.1 -
1963 $131.6 - $146.4 -
1964 $139.2 - $171.6 -
1965 $142.7 - $181 -
1966 $145.8 - $192.7 -
1967 $156.6 - $182.8 -
1968 $170.8 - $190.4 -
1969 $175.2 - $245.2 -
1970 $178.5 - $254.2 -
1971 $186.7 - $301 -
1972 $220.1 - $315 -
1973 $271.8 - $463 -
1974 $299.9 - $536 -
1975 $386 - $568 -
1976 $381 - $521 -
1977 $435 - $563 -
1978 $582 - $610 -
1979 $718 - $714 -
1980 $784 - $908 -
1981 $750 - $925 -
1982 $732 - $843 -
1983 $746 - $843 -
1984 $772 - $726 -
1985 $875 - $510 -
1986 $1,179 - $611 -
1987 $1,258 - $765 -
1988 $1,145 - $865 -
1989 $1,001 - $832 -
1990 $1,087 $2,032 $1,278 $3,202
1991 $1,015 $1,963 $1,273 $3,236
1992 $1,005 $1,890 $1,362 $3,289
1993 $1,310 $1,731 $1,397 $3,371
1994 $701 $1,752 $1,461 $3,526
1995 $832 $1,790 $1,751 $3,777
1996 $827 $1,850 $1,619 $3,916
1997 $783 $1,915 $1,705 $4,038
1998 $799 $1,975 $1,547 $4,137
1999 $796 $2,039 $1,502 $4,272
2000 $709 $2,108 $1,630 $4,401
2001 $715 $2,191 $1,430 $4,521
2002 $790 $2,263 $1,316 $4,742
2003 $988 $2,368 $2,015 $5,020
2004 $1,133 $2,533 $2,526 $5,310
2005 $1,143 $2,598 $2,871 $5,773
2006 $1,191 $2,704 $2,965 $6,319
2007 $1,326 $2,818 $3,109 $6,732
2008 $1,492 $2,870 $2,947 $6,914
2009 $1,461 $2,879 $3,190 $7,011
2010 $1,399 $2,914 $3,923 $7,324
2011 $1,514 $2,989 $4,225 $7,571
2012 $1,449 $3,060 $4,225 $7,760
2013 $1,576 $3,239 $3,950 $8,231
2014 $1,649 $3,422 $3,771 $8,366
2015 $1,415 $3,498 $3,420 $8,391
2016 $1,442 $3,627 $3,238 $8,484
2017 $1,496 $3,767 $3,853 $8,584
2018 $1,611 $4,011 $3,973 $8,535
2019 $1,555 $4,241 $3,913 $9,248
2020 $1,556 $4,365 $3,467 $9,329
2021 $1,672 $4,794 $3,984 $9,990
2022 $1,605 $5,189 $3,894 $10,635
2023 $1,720 $5,411 $3,756 $11,300
2024 $1,830 $5,589 $3,910 $11,799

Spending and national debt comparison

In 2024, Cameroon's government spending was $8.84B, accounting for 16.4% of its GDP, while Eswatini's spent $1.58B, or 31.4% of GDP.

Debt-to-GDP ratio is 38.6% in Cameroon and 39.9% in Eswatini, ranking 137/185 and 133/185, respectively.

Cameroon
Government spending

Government debt
Eswatini
Government spending

Government debt
Year % of GDP
Cameroon Eswatini
Government spending Government debt Government spending Government debt
1980 - - 15.3% 27.2%
1981 - - 18.9% 24.3%
1982 - - 18.1% 29.2%
1983 - - 17% 28.7%
1984 - - 17% 29.7%
1985 - - 19% 45.5%
1986 - - 18.8% 44%
1987 - - 16.8% 36.1%
1988 - - 16.6% 27.5%
1989 - - 15.4% 26.8%
1990 - - 18.2% 20.4%
1991 - - 19.7% 20.1%
1992 - - 25.2% 16.6%
1993 - - 23.3% 15.2%
1994 - - 24% 13.4%
1995 - - 19.9% 12.5%
1996 - - 22.6% 11.6%
1997 - - 20.6% 12.6%
1998 - 67.8% 21.8% 15.5%
1999 - 68.4% 25.8% 16.7%
2000 14.6% 75.9% 24.6% 18.2%
2001 14.6% 62.2% 25.7% 21.8%
2002 13.9% 56.6% 26.4% 17.1%
2003 13.2% 51.5% 25.6% 17.5%
2004 13.4% 51.7% 31% 15%
2005 12.4% 43.8% 28.9% 13.5%
2006 12.5% 18.4% 27.4% 14.6%
2007 13.5% 13.8% 30.3% 16.1%
2008 15.9% 11.2% 33.4% 14.6%
2009 14.7% 11.3% 33.5% 10.5%
2010 15.2% 14% 30.7% 14.1%
2011 17.8% 15% 25.3% 14.7%
2012 17.2% 14.9% 27% 14.8%
2013 19.2% 17.5% 28.5% 15%
2014 20.1% 20.7% 32.2% 13.9%
2015 20.1% 31.6% 34.3% 15.8%
2016 20.2% 32.1% 34.6% 20%
2017 19.2% 36.5% 35.5% 22.2%
2018 18% 38.3% 35% 26.9%
2019 18.7% 41.6% 34.1% 31.5%
2020 16.6% 44.9% 34% 39.6%
2021 17.1% 47.2% 29.7% 37.9%
2022 17.1% 45.6% 30.5% 42.2%
2023 17.1% 43.2% 30.1% 37.9%
2024 16.6% 42.7% 32.4% 37.2%
2025 16.3% 39.9% 32.8% 38.7%
2026 16.4% 38.6% 31.4% 39.9%

Government deficit by year

In 2024, Cameroon's government deficit, the difference between spending and revenue, was -$319M, equivalent to -0.6% of GDP. This compares to Eswatini's deficit of -$94.4M, or -1.94% of GDP.

Over the past 25 years, Cameroon recorded a fiscal deficit in 17 of those years, while Eswatini ran a deficit in 19 years. On average, Cameroon posted an annual deficit equal to -0.007% of GDP, compared to deficit of -2.76% of GDP for Eswatini.

Deficit/surplus
Cameroon

Eswatini
Year Deficit/surplus, % of GDP
Cameroon Eswatini
1980 - 5.11%
1981 - -3.4%
1982 - 0.08%
1983 - -0.44%
1984 - 0.95%
1985 - -1.13%
1986 - -2.28%
1987 - 2%
1988 - 3.42%
1989 - 5.65%
1990 - 5.45%
1991 - 3.3%
1992 - -2.81%
1993 - -3.2%
1994 - -3.51%
1995 - 0.87%
1996 - -0.97%
1997 - 2.05%
1998 - 1.04%
1999 - -1.23%
2000 1.54% -1.19%
2001 0.86% -2.25%
2002 1.51% -3.67%
2003 0.56% -2.09%
2004 -0.46% -3.98%
2005 3.03% -1.65%
2006 28.2% 8.62%
2007 3.87% 2.36%
2008 2% 1.58%
2009 -0.04% -2.97%
2010 -0.93% -9.24%
2011 -2.26% -3.9%
2012 -1.4% 3.38%
2013 -3.55% 0.57%
2014 -4.09% -1.15%
2015 -4.25% -6.14%
2016 -5.88% -9.09%
2017 -4.72% -6.93%
2018 -2.41% -9.66%
2019 -3.24% -6.7%
2020 -3.19% -4.62%
2021 -3.01% -4.59%
2022 -1.11% -4.74%
2023 -0.63% 0.94%
2024 -0.6% -1.94%
2025 -0.84% -5.51%
2026 -1.24% -4.6%

Inflation comparison by year

Over the past 23 years, Cameroon has recorded an average annual inflation rate of 2.36%, compared with 6.86% in Eswatini. In 2019, inflation was 4.53% in Cameroon and 2.6% in Eswatini.

Inflation
Cameroon

Eswatini
Year Inflation
Cameroon Eswatini
1997 4.79% 7.13%
1998 3.17% 8.11%
1999 1.87% 6.09%
2000 1.23% 12.2%
2001 4.42% 5.94%
2002 2.83% 12%
2003 0.62% 7.29%
2004 0.23% 3.45%
2005 2.01% 4.77%
2006 5.12% 5.3%
2007 0.92% 8.08%
2008 5.34% 12.7%
2009 3.04% 7.45%
2010 1.28% 4.51%
2011 2.94% 6.11%
2012 2.74% 8.94%
2013 2.05% 5.62%
2014 1.85% 5.68%
2015 2.68% 4.95%
2016 0.87% 7.85%
2017 0.64% 6.22%
2018 1.07% 4.82%
2019 2.45% 2.6%
2020 2.44% -
2021 2.27% -
2022 6.25% -
2023 7.38% -
2024 4.53% -

Top exports between countries

Cameroon
Export category Export value
Raw materials & minerals $12K
Eswatini
Export category Export value
Processed food, beverages & tobacco $289K

Balance of trade

Cameroon Eswatini
Current account balance
-$2.02B
2023
$78.3M
2024
Current account balance ranking
144/190
2023
69/190
2024
Current account balance, % of GDP
-4.14%
2023
+1.61%
2024
Goods imports
$7.74B
2023
$2.07B
2024
Goods exports
$6.34B
2023
$2.33B
2024
Service imports
$2.55B
2023
$542M
2024
Service exports
$2.01B
2023
$234M
2024
Imports of goods and services, % of GDP
18.7%
2024
53.7%
2024
Exports of goods and services, % of GDP
15.7%
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.

Cameroon Eswatini
Economic freedom 52.1 56.4
Economic freedom ranking 149/197 118/197
Property rights 31.3 44.8
Government integrity 20.7 29.9
Judicial effectiveness 10.3 36.8
Tax burden 72.9 76.1
Government spending 91.2 73.9
Fiscal health 92.3 70.6
Business freedom 48.8 49.5
Labor freedom 46.5 55.9
Monetary freedom 73.7 76.1
Trade freedom 57.2 73.6
Investment freedom 30 50
Financial freedom 50 40

Economic freedom by year comparison

The Economic Freedom Index for Cameroon is 52.1, ranking 149/197, compared to 56.4 for Eswatini, ranking 118/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Cameroon
Eswatini
Year Economic freedom index
Cameroon Eswatini
1995 51.3 63.3
1996 45.7 58.6
1997 44.6 59.4
1998 48 62
1999 50.3 62.1
2000 49.9 62.6
2001 53.3 63.6
2002 52.8 60.9
2003 52.7 59.6
2004 52.3 58.6
2005 53 59.4
2006 54.6 61.4
2007 55.6 60.1
2008 54.3 58.4
2009 53 59.1
2010 52.3 57.4
2011 51.8 59.1
2012 51.8 57.2
2013 52.3 57.2
2014 52.6 61.2
2015 51.9 59.9
2016 54.2 59.7
2017 51.8 61.1
2018 51.9 55.9
2019 52.4 54.7
2020 53.6 55.3
2021 53.4 55.1
2022 52.9 51.4
2023 51.9 54.9
2024 53.6 55.6
2025 52.1 56.4

More economic indicators

Cameroon Eswatini
Services, % of GDP
50.7%
2024
51.4%
2024
Industry, % of GDP
23.2%
2024
34.7%
2024
Agriculture, forestry, and fishing, % of GDP
18.5%
2024
6.48%
2024
GNI, Atlas method
$49.5B
2024
$4.46B
2024
GNI per capita, PPP
$5,490
2024
$10,760
2024
Total reserves including gold
$4.88B
2023
$479M
2023
Total reserves ranking
103/177
2023
159/177
2023
Net foreign direct investment
-$901M
2023
-$11.8M
2024
Net inflows of foreign direct investment
$925M
2024
$75.5M
2024
Net outflows of foreign direct investment
$5.56M
2024
$63.8M
2024
Servicing debt to the IMF, % of GNI
3.2%
2024
4.68%
2024
Poverty at national poverty lines
37.7%
2021
58.9%
2016
Gross capital formation, % of GDP
18.9%
2024
15%
2024

GDP per capita map

GDP per capita

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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.