Skip to content

Economy of Cape Verde vs Eswatini compared: GDP & Debt

Updated on by Georank

Cape Verde has a GDP of $3.06B compared to $5.16B for Eswatini, ranking 172/197 and 163/197 by economy size, respectively.

Cape Verde has $3.09B in government debt (101% of GDP), compared to $2.31B (44.9% of GDP) in Eswatini.

Cape Verde vs Eswatini GDP by year

Cape Verde
Eswatini
1x
Year GDP, current $
Cape Verde Eswatini
2025 $3,056,630,435 $5,160,679,613
2024 $2,713,721,857 $4,858,885,841
2023 $2,504,525,538 $4,621,191,262
2022 $2,247,003,344 $4,746,660,274
2021 $2,051,842,619 $4,807,069,277
2020 $1,821,565,614 $4,134,677,810
2019 $2,252,177,124 $4,617,018,959
2018 $2,205,099,507 $4,643,751,059
2017 $1,996,741,540 $4,462,640,651
2016 $1,849,789,986 $3,722,306,117
2015 $1,749,857,620 $3,908,217,914
2014 $2,041,930,125 $4,285,065,665
2013 $2,028,910,915 $4,463,396,204
2012 $1,913,081,210 $4,747,813,067
2011 $2,046,817,987 $4,722,912,047
2010 $1,824,751,468 $4,360,714,359
2009 $1,852,334,575 $3,525,213,502
2008 $1,959,620,648 $3,235,921,171
2007 $1,649,621,739 $3,391,122,887
2006 $1,107,571,458 $3,215,307,901
2005 $972,241,677 $3,097,946,371
2004 $924,940,012 $2,710,331,785
2003 $813,260,469 $2,149,632,433
2002 $620,507,387 $1,393,945,031
2001 $563,090,490 $1,502,870,486
2000 $539,227,278 $1,697,161,558
1999 $592,416,703 $1,547,888,496
1998 $521,910,561 $1,576,908,856
1997 $490,608,658 $1,716,714,070
1996 $501,979,270 $1,602,741,834
1995 $487,148,994 $1,698,989,464
1994 $406,580,652 $1,419,294,254
1993 $490,417,390 $1,357,189,552
1992 $357,160,985 $1,284,759,928
1991 $319,827,059 $1,156,135,718
1990 $306,890,963 $1,114,694,041
1989 $267,448,571 $696,921,542
1988 $264,308,140 $692,026,455
1987 $235,253,065 $584,126,092
1986 $190,651,168 $449,140,318
1985 $137,728,205 $360,079,419
1984 $132,019,039 $494,483,409
1983 $138,476,176 $555,336,146
1982 $140,630,679 $537,568,059
1981 $139,468,209 $570,774,825
1980 $142,246,815 $541,976,853
1979 - $412,093,134
1978 - $340,630,085
1977 - $304,060,076
1976 - $272,550,068
1975 - $288,299,789
1974 - $264,320,941
1973 - $221,915,128
1972 - $146,736,479
1971 - $136,462,081
1970 - $112,139,955
1969 - $105,419,958
1968 - $79,799,968
1967 - $74,759,970
1966 - $76,859,969
1965 - $70,279,972
1964 - $64,980,554
1963 - $54,129,438
1962 - $45,927,962
1961 - $43,026,043
1960 - $35,076,846

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

GeoRank.org/economy/cape-verde/eswatini | CC BY

GDP per capita in Cape Verde vs Eswatini by year

Cape Verde
GDP per capita

GDP per capita, PPP
Eswatini
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cape Verde Eswatini
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $5,796 - $4,108 -
2024 $5,170 $11,195 $3,910 $11,799
2023 $4,795 $10,242 $3,756 $11,300
2022 $4,323 $9,481 $3,894 $10,635
2021 $3,971 $7,685 $3,984 $9,990
2020 $3,539 $6,853 $3,467 $9,329
2019 $4,381 $8,646 $3,913 $9,248
2018 $4,295 $7,916 $3,973 $8,535
2017 $3,893 $7,936 $3,853 $8,584
2016 $3,609 $7,351 $3,238 $8,484
2015 $3,415 $6,773 $3,420 $8,391
2014 $3,986 $6,417 $3,771 $8,366
2013 $3,961 $6,367 $3,950 $8,231
2012 $3,737 $6,318 $4,225 $7,760
2011 $4,002 $6,384 $4,225 $7,571
2010 $3,579 $6,039 $3,923 $7,324
2009 $3,660 $5,901 $3,190 $7,011
2008 $3,909 $6,011 $2,947 $6,914
2007 $3,325 $5,567 $3,109 $6,732
2006 $2,257 $4,758 $2,965 $6,319
2005 $2,004 $4,324 $2,871 $5,773
2004 $1,929 $3,969 $2,526 $5,310
2003 $1,718 $3,551 $2,015 $5,020
2002 $1,329 $3,388 $1,316 $4,742
2001 $1,223 $3,217 $1,430 $4,521
2000 $1,190 $3,124 $1,630 $4,401
1999 $1,327 $2,714 $1,502 $4,272
1998 $1,187 $2,443 $1,547 $4,137
1997 $1,134 $2,182 $1,705 $4,038
1996 $1,180 $1,963 $1,619 $3,916
1995 $1,165 $1,762 $1,751 $3,777
1994 $991 $1,540 $1,461 $3,526
1993 $1,220 $1,291 $1,397 $3,371
1992 $908 $1,186 $1,362 $3,289
1991 $832 $1,069 $1,273 $3,236
1990 $817 $1,044 $1,278 $3,202
1989 $727 - $832 -
1988 $729 - $865 -
1987 $658 - $765 -
1986 $541 - $611 -
1985 $396 - $510 -
1984 $385 - $726 -
1983 $410 - $843 -
1982 $423 - $843 -
1981 $425 - $925 -
1980 $440 - $908 -
1979 - - $714 -
1978 - - $610 -
1977 - - $563 -
1976 - - $521 -
1975 - - $568 -
1974 - - $536 -
1973 - - $463 -
1972 - - $315 -
1971 - - $301 -
1970 - - $254.2 -
1969 - - $245.2 -
1968 - - $190.4 -
1967 - - $182.8 -
1966 - - $192.7 -
1965 - - $181 -
1964 - - $171.6 -
1963 - - $146.4 -
1962 - - $127.1 -
1961 - - $121.8 -
1960 - - $101.6 -

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

GeoRank.org/economy/cape-verde/eswatini | CC BY

Cape Verde's GDP per capita is $5,796, ranking 116/197, compared to $4,108 in Eswatini, ranking 131/197. Adjusted for purchasing power (GDP per capita PPP), Cape Verde ranks 129th at $11,195, while Eswatini ranks 126th at $11,799.

Economic indicators

Cape Verde Eswatini
Gross domestic product
$3.06B
2025
$5.16B
2025
GDP rank
172/197
2025
163/197
2025
GDP growth
6.3%
2024-2025
4.19%
2024-2025
GDP per capita
$5,796
2025
$4,108
2025
GDP per capita rank
116/197
2025
131/197
2025
GDP per capita, PPP
$11,195
2024
$11,799
2024
GDP per capita PPP rank
129/197
2024
126/197
2024
Government debt
$3.09B
2025
$2.31B
2025
Debt-to-GDP ratio
101%
2025
44.9%
2025
Government debt per person
$5,854
2025
$1,843
2025
Government debt per person rank
77/185
2025
121/185
2025
Average annual personal income after taxes
$2,506
2026
$4,770
2026
Market capitalization of domestic companies n/a
$234M
2007
Number of billionaires n/a
1
2026
Income share by richest 10%
32.3%
2015
42.7%
2016
Income share by poorest 10%
2.2%
2015
1.4%
2016
Government expenditure, % of GDP
27%
2025
35.7%
2025
Consumer prices inflation
2.3%
2024-2025
2.6%
2018-2019
Central bank interest rate
1.5%
2024
6.75%
2025
Unemployment rate
11.3%
2019
34.3%
2023
Population
530853
1276995

Spending and national debt comparison by year

Cape Verde
Spending

Debt
Eswatini
Spending

Debt
1x
Year % of GDP
Cape Verde Eswatini
Government spending Government debt Government spending Government debt
2025 27% 101% 35.7% 44.9%
2024 26.1% 112.8% 33.6% 40.1%
2023 25.7% 117.5% 31.5% 39.4%
2022 26.6% 127.6% 28.9% 39.5%
2021 30.8% 149.5% 29.3% 37.3%
2020 34.5% 149.1% 32.2% 37.7%
2019 27.5% 109.8% 32.8% 30.5%
2018 27.5% 112.3% 31.6% 26.5%
2017 28% 113% 33.6% 21.7%
2016 26.6% 115.6% 34% 20.1%
2015 28.7% 115.7% 34.5% 16%
2014 27.8% 105.7% 32.7% 14.1%
2013 30.9% 93.5% 28.8% 15.2%
2012 31.6% 82.9% 27.1% 14.8%
2011 30.3% 71.6% 25.1% 14.6%
2010 35.7% 66.2% 31.1% 14.2%
2009 30.6% 58.8% 33.9% 10.6%
2008 27.6% 57.5% 33.4% 14.6%
2007 27.1% 59.6% 30.4% 16.1%
2006 28.4% 66.2% 27.6% 14.7%
2005 26.2% 66.7% 29% 13.6%
2004 26.3% 67.8% 31% 15%
2003 23.4% 65.6% 25.9% 17.7%
2002 28.5% 64.7% 26.5% 17.2%
2001 24.2% 62.2% 25.6% 21.7%
2000 36.7% 71.9% 24.7% 18.2%
1999 35% 66.4% 25.8% 16.7%
1998 29.8% 72.9% 22% 15.6%
1997 34.8% 79.3% 20.7% 12.7%
1996 38.9% 85.7% 22.5% 11.5%
1995 44.5% 74.3% 19.9% 12.5%
1994 48.1% 73.4% 23.4% 13.1%
1993 - - 23% 15%
1992 - - 24.7% 16.6%
1991 - - 19.6% 20.1%
1990 - - 18.2% 20.4%
1989 - - 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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1996, retrieved 2026-07-08).

GeoRank.org/economy/cape-verde/eswatini | CC BY

In 2025, Cape Verde's government spending was $827M, accounting for 27% of its GDP, while Eswatini spent $1.84B, or 35.7% of GDP.

Debt-to-GDP ratio is 101% in Cape Verde and 44.9% in Eswatini, ranking 23/185 and 118/185, respectively.

Government deficit by year

Deficit/surplus
Cape Verde

Eswatini
1x
Year Deficit/surplus, % of GDP
Cape Verde Eswatini
2025 1.06% -6.14%
2024 -1.07% -1.06%
2023 -0.28% -0.66%
2022 -4.25% -5.27%
2021 -7.51% -4.55%
2020 -9.29% -4.21%
2019 -1.62% -6.23%
2018 -2.36% -6.59%
2017 -2.63% -5.64%
2016 -2.73% -8.36%
2015 -4.16% -5.89%
2014 -6.93% -1.16%
2013 -8.49% 0.57%
2012 -9.36% 3.39%
2011 -6.98% -3.88%
2010 -9.6% -9.34%
2009 -5.32% -3%
2008 -1.42% 1.58%
2007 -0.86% 2.37%
2006 -4.32% 8.67%
2005 -4.69% -1.66%
2004 -2.98% -3.97%
2003 -3.63% -2.11%
2002 -6.14% -3.69%
2001 -5.03% -2.24%
2000 -15.5% -1.19%
1999 -10.9% -1.23%
1998 -3.16% 1.05%
1997 -10.2% 2.06%
1996 -11.2% -0.97%
1995 -11.1% 0.87%
1994 -12.8% -3.43%
1993 - -3.15%
1992 - -2.76%
1991 - 3.28%
1990 - 5.47%
1989 - 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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-07-08).

GeoRank.org/economy/cape-verde/eswatini | CC BY

In 2025, Cape Verde's government surplus, the difference between spending and revenue, was $32.3M, equivalent to 1.06% of GDP. This compares to Eswatini's deficit of $317M, or 6.14% of GDP.

Over the past 32 years, Cape Verde recorded a fiscal deficit in 31 of those years, while Eswatini ran a deficit in 24 years. On average, Cape Verde posted an annual deficit equal to 5.8% of GDP, compared to deficit of 2.25% of GDP for Eswatini.

Inflation comparison by year

Inflation
Cape Verde

Eswatini
1x
Year Consumer prices inflation
Cape Verde Eswatini
2025 2.3% -
2024 1.1% -
2023 3.7% -
2022 7.9% -
2021 1.9% -
2020 0.6% -
2019 1.1% 2.6%
2018 1.3% 4.82%
2017 0.8% 6.22%
2016 -1.4% 7.85%
2015 0.1% 4.95%
2014 -0.2% 5.68%
2013 1.5% 5.62%
2012 2.5% 8.94%
2011 4.5% 6.11%
2010 2.1% 4.51%
2009 1% 7.45%
2008 6.8% 12.7%
2007 4.4% 8.08%
2006 4.8% 5.3%
2005 0.4% 4.77%
2004 -1.9% 3.45%
2003 1.2% 7.29%
2002 1.9% 12%
2001 3.7% 5.94%
2000 -2.4% 12.2%
1999 4.3% 6.09%
1998 4.4% 8.11%
1997 8.6% 7.13%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2019, retrieved 2026-07-08).

GeoRank.org/economy/cape-verde/eswatini | CC BY

Over the past 23 years, Cape Verde has recorded an average annual inflation rate of 2.15%, compared with 6.86% in Eswatini. In 2019, inflation was 2.3% in Cape Verde and 2.6% in Eswatini.

Balance of trade

Cape Verde Eswatini
Current account balance
$108M
2025
$78.3M
2024
Current account balance ranking
63/190
2025
65/190
2024
Current account balance, % of GDP
+3.53%
2025
+1.61%
2024
Goods imports
$1.29B
2025
$2.07B
2024
Goods exports
$344M
2025
$2.33B
2024
Service imports
$350M
2025
$542M
2024
Service exports
$940M
2025
$234M
2024
Imports of goods and services, % of GDP
53.4%
2025
53.7%
2024
Exports of goods and services, % of GDP
42%
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.

Cape Verde Eswatini
Economic freedom 71.4 57.5
Economic freedom ranking 32/197 116/197
Property rights 72.7 42.5
Government integrity 63.3 29.7
Judicial effectiveness 77.1 35.5
Tax burden 84.4 78.6
Government spending 79.5 71
Fiscal health 74.4 87.5
Business freedom 78.9 49.9
Labor freedom 59.5 55.2
Monetary freedom 80.4 76.8
Trade freedom 66.6 73.6
Investment freedom 60 50
Financial freedom 60 40

Economic freedom comparison by year

Cape Verde
Eswatini
1x
Year Economic freedom index
Cape Verde Eswatini
2026 71.4 57.5
2025 68.7 56.4
2024 62.9 55.6
2023 65.8 54.9
2022 66.7 51.4
2021 63.8 55.1
2020 63.6 55.3
2019 63.1 54.7
2018 60 55.9
2017 56.9 61.1
2016 66.5 59.7
2015 66.4 59.9
2014 66.1 61.2
2013 63.7 57.2
2012 63.5 57.2
2011 64.6 59.1
2010 61.8 57.4
2009 61.3 59.1
2008 57.9 58.4
2007 56.5 60.1
2006 58.6 61.4
2005 57.8 59.4
2004 58.1 58.6
2003 56.1 59.6
2002 57.6 60.9
2001 56.3 63.6
2000 51.9 62.6
1999 50.7 62.1
1998 48 62
1997 47.7 59.4
1996 49.7 58.6
1995 - 63.3

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

GeoRank.org/economy/cape-verde/eswatini | CC BY

The Economic Freedom Index for Cape Verde is 71.4, ranking 32/197, 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

Cape Verde Eswatini
Services, % of GDP
67.9%
2025
52.4%
2025
Industry, % of GDP
10.7%
2025
33.6%
2025
Agriculture, forestry, and fishing, % of GDP
5.04%
2025
6.41%
2025
GNI, Atlas method
$2.95B
2025
$4.69B
2025
GNI per capita, PPP
$12,010
2025
$11,390
2025
Total reserves including gold
$1.26B
2025
$537M
2024
Total reserves ranking
138/177
2025
157/177
2024
Net foreign direct investment
-$130M
2025
-$11.8M
2024
Net inflows of foreign direct investment
$110M
2024
$75.5M
2024
Net outflows of foreign direct investment
$20.8M
2024
$63.8M
2024
Servicing debt to the IMF, % of GNI
5.72%
2024
4.88%
2024
Poverty at national poverty lines
24.8%
2023
58.9%
2016
Gross capital formation, % of GDP
17.4%
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/cape-verde/eswatini | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

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)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1980–1996, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

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.