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Economy of China vs Eswatini compared: GDP & Debt

Updated on by Georank team

China has a GDP of $18.7T compared to $4.86B for Eswatini, ranking 2/197 and 162/197 by economy size, respectively.

China has $16.6T in government debt (88.3% of GDP), compared to $1.93B (39.8% of GDP) in Eswatini.

China vs Eswatini GDP by year

China
Eswatini
1x
Year GDP, current $
China Eswatini
2024 $18,743,803,170,827 $4,858,885,841
2023 $18,270,356,654,533 $4,621,191,262
2022 $18,316,765,021,690 $4,746,660,274
2021 $18,201,698,719,564 $4,807,069,277
2020 $14,996,414,166,715 $4,134,677,810
2019 $14,560,167,101,283 $4,617,018,959
2018 $14,147,765,772,964 $4,643,751,059
2017 $12,537,559,062,283 $4,462,640,651
2016 $11,456,024,084,962 $3,722,306,117
2015 $11,280,814,787,469 $3,908,217,914
2014 $10,674,533,168,257 $4,285,065,665
2013 $9,743,124,247,267 $4,463,396,204
2012 $8,673,664,713,189 $4,747,813,067
2011 $7,671,757,207,851 $4,722,912,047
2010 $6,192,564,874,453 $4,360,714,359
2009 $5,189,577,094,998 $3,525,213,502
2008 $4,667,346,414,522 $3,235,921,171
2007 $3,604,055,822,572 $3,391,122,887
2006 $2,791,498,472,804 $3,215,307,901
2005 $2,317,551,298,052 $3,097,946,371
2004 $1,984,196,551,300 $2,710,331,785
2003 $1,683,903,309,844 $2,149,632,433
2002 $1,489,821,682,051 $1,393,945,031
2001 $1,355,036,590,252 $1,502,870,486
2000 $1,223,754,919,971 $1,697,161,558
1999 $1,103,843,203,576 $1,547,888,496
1998 $1,037,134,141,760 $1,576,908,856
1997 $967,753,570,435 $1,716,714,070
1996 $868,523,936,530 $1,602,741,834
1995 $738,190,896,228 $1,698,989,464
1994 $566,929,539,493 $1,419,294,254
1993 $446,557,291,212 $1,357,189,552
1992 $428,502,354,788 $1,284,759,928
1991 $384,510,452,962 $1,156,135,718
1990 $361,560,229,446 $1,114,694,041
1989 $348,380,566,802 $696,921,542
1988 $312,888,888,889 $692,026,455
1987 $273,455,156,951 $584,126,092
1986 $301,310,144,928 $449,140,318
1985 $310,064,625,850 $360,079,419
1984 $260,442,857,143 $494,483,409
1983 $231,130,268,199 $555,336,146
1982 $205,480,916,031 $537,568,059
1981 $196,218,253,968 $570,774,825
1980 $191,487,500,000 $541,976,853
1979 $178,573,913,043 $412,093,134
1978 $149,788,617,886 $340,630,085
1977 $175,226,595,860 $304,060,076
1976 $154,196,810,059 $272,550,068
1975 $163,687,619,736 $288,299,789
1974 $144,418,433,058 $264,320,941
1973 $138,764,340,892 $221,915,128
1972 $113,871,930,714 $146,736,479
1971 $99,959,013,880 $136,462,081
1970 $92,752,930,873 $112,139,955
1969 $79,847,786,729 $105,419,958
1968 $70,980,323,819 $79,799,968
1967 $73,011,350,596 $74,759,970
1966 $76,854,053,259 $76,859,969
1965 $70,565,994,356 $70,279,972
1964 $59,821,862,703 $64,980,554
1963 $50,812,227,919 $54,129,438
1962 $47,310,737,754 $45,927,962
1961 $50,162,299,350 $43,026,043
1960 $59,846,235,025 $35,076,846

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

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

GDP per capita in China vs Eswatini by year

China
GDP per capita

GDP per capita, PPP
Eswatini
GDP per capita

GDP per capita, PPP
1x
Year Current $
China Eswatini
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $13,303 $27,105 $3,910 $11,799
2023 $12,951 $25,179 $3,756 $11,300
2022 $12,971 $23,032 $3,894 $10,635
2021 $12,887 $20,843 $3,984 $9,990
2020 $10,627 $18,267 $3,467 $9,329
2019 $10,343 $17,601 $3,913 $9,248
2018 $10,086 $16,298 $3,973 $8,535
2017 $8,980 $15,022 $3,853 $8,584
2016 $8,255 $14,157 $3,238 $8,484
2015 $8,175 $13,463 $3,420 $8,391
2014 $7,781 $12,942 $3,771 $8,366
2013 $7,147 $12,228 $3,950 $8,231
2012 $6,405 $11,420 $4,225 $7,760
2011 $5,704 $10,457 $4,225 $7,571
2010 $4,629 $9,411 $3,923 $7,324
2009 $3,898 $8,448 $3,190 $7,011
2008 $3,523 $7,713 $2,947 $6,914
2007 $2,735 $6,935 $3,109 $6,732
2006 $2,129 $5,946 $2,965 $6,319
2005 $1,778 $5,148 $2,871 $5,773
2004 $1,531 $4,505 $2,526 $5,310
2003 $1,307 $4,007 $2,015 $5,020
2002 $1,164 $3,591 $1,316 $4,742
2001 $1,065 $3,258 $1,430 $4,521
2000 $969 $2,964 $1,630 $4,401
1999 $881 $2,690 $1,502 $4,272
1998 $835 $2,483 $1,547 $4,137
1997 $787 $2,297 $1,705 $4,038
1996 $713 $2,088 $1,619 $3,916
1995 $613 $1,884 $1,751 $3,777
1994 $476 $1,680 $1,461 $3,526
1993 $379 $1,471 $1,397 $3,371
1992 $368 $1,276 $1,362 $3,289
1991 $334 $1,105 $1,273 $3,236
1990 $319 $991 $1,278 $3,202
1989 $311 - $832 -
1988 $284 - $865 -
1987 $252.3 - $765 -
1986 $282.4 - $611 -
1985 $295 - $510 -
1984 $251.2 - $726 -
1983 $225.9 - $843 -
1982 $203.7 - $843 -
1981 $197.4 - $925 -
1980 $195.1 - $908 -
1979 $184.3 - $714 -
1978 $156.7 - $610 -
1977 $185.7 - $563 -
1976 $165.7 - $521 -
1975 $178.6 - $568 -
1974 $160.4 - $536 -
1973 $157.3 - $463 -
1972 $132.1 - $315 -
1971 $118.8 - $301 -
1970 $113.3 - $254.2 -
1969 $100.3 - $245.2 -
1968 $91.6 - $190.4 -
1967 $96.8 - $182.8 -
1966 $104.5 - $192.7 -
1965 $98.7 - $181 -
1964 $85.7 - $171.6 -
1963 $74.5 - $146.4 -
1962 $71.1 - $127.1 -
1961 $76 - $121.8 -
1960 $89.7 - $101.6 -

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

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

China's GDP per capita is $13,303, ranking 76/197, compared to $3,910 in Eswatini, ranking 131/197. Adjusted for purchasing power (GDP per capita PPP), China ranks 77th at $27,105, while Eswatini ranks 126th at $11,799.

Economic indicators

China Eswatini
Gross domestic product
$18.7T
2024
$4.86B
2024
GDP rank
2/197
2024
162/197
2024
GDP growth
4.98%
2023-2024
2.97%
2023-2024
GDP per capita
$13,303
2024
$3,910
2024
GDP per capita rank
76/197
2024
131/197
2024
GDP per capita, PPP
$27,105
2024
$11,799
2024
GDP per capita PPP rank
77/197
2024
126/197
2024
Government debt
$16.6T
2024
$1.93B
2024
Debt-to-GDP ratio
88.3%
2024
39.8%
2024
Government debt per person
$11,749
2024
$1,554
2024
Government debt per person rank
47/185
2024
130/185
2024
Average annual personal income after taxes
$9,826
2026
$3,913
2026
Market capitalization of domestic companies
$11.8T
2024
$234M
2007
Number of millionaires
6,327,000
2025
n/a
Number of billionaires
450
2025
1
2025
Income share by richest 10%
28.4%
2022
42.7%
2016
Income share by poorest 10%
3.1%
2022
1.4%
2016
Government expenditure, % of GDP
32.9%
2024
33.3%
2024
Consumer prices inflation
0.2%
2023-2024
2.6%
2018-2019
Central bank interest rate
3.1%
2024
6.75%
2025
Unemployment rate
5.11%
2021
34.6%
2023
Population
1402578808
1273390

Spending and national debt comparison by year

China
Spending

Debt
Eswatini
Spending

Debt
1x
Year % of GDP
China Eswatini
Government spending Government debt Government spending Government debt
2024 32.9% 88.3% 33.3% 39.8%
2023 32.7% 82% 32% 40%
2022 32.6% 75.5% 29.6% 40.5%
2021 31.9% 70.1% 30.1% 38.4%
2020 34.8% 69% 32.7% 38.2%
2019 33.6% 59.4% 32.9% 30.7%
2018 32.6% 55.6% 32.2% 27%
2017 32% 53.9% 33.9% 21.9%
2016 31.7% 49.7% 34.7% 20.5%
2015 31% 40.8% 35.3% 16.4%
2014 28.4% 39.3% 33.3% 14.3%
2013 28.1% 36.4% 29.4% 15.5%
2012 27.7% 33.8% 27.8% 15.2%
2011 26.6% 33.2% 26% 15.1%
2010 24.7% 33.3% 31.6% 14.5%
2009 25.2% 34% 34.5% 10.8%
2008 22.2% 26.7% 34.4% 15%
2007 17.9% 28.7% 31.2% 16.6%
2006 18.1% 25.2% 28.2% 15%
2005 18% 25.9% 29.7% 13.9%
2004 17.6% 26% 32% 15.5%
2003 18% 26.4% 26.4% 18%
2002 18.2% 25.6% 27.2% 17.6%
2001 17.2% 24.3% 26.4% 22.4%
2000 16.1% 22.7% 25.3% 18.7%
1999 14.9% 21.6% 26.5% 17.2%
1998 12.6% 20.4% 22.5% 15.9%
1997 11.5% 20.4% 21.2% 13%
1996 11% 21.2% 23.3% 12%
1995 11.1% 21.4% 20.5% 12.9%
1994 12.4% - 24.7% 13.8%
1993 13.4% - 24% 15.6%
1992 14.6% - 26% 16.6%
1991 16.5% - 20.3% 20.1%
1990 18.2% - 18.7% 20.4%
1989 18.6% - 15.8% 26.8%
1988 20.9% 4.46% 15.6% 27.5%
1987 23.4% 3.6% 17% 36.1%
1986 25.6% 3.24% 19.8% 44%
1985 25.8% 3.31% 22.3% 45.5%
1984 26.9% 0.97% 22.2% 29.7%
1983 28.3% - 23.2% 28.7%
1982 27.9% - 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 (1980–1992, retrieved 2026-02-20).

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

In 2024, China's government spending was $6.18T, accounting for 32.9% of its GDP, while Eswatini spent $1.62B, or 33.3% of GDP.

Debt-to-GDP ratio is 88.3% in China and 39.8% in Eswatini, ranking 34/185 and 134/185, respectively.

Government deficit by year

Deficit/surplus
China

Eswatini
1x
Year Deficit/surplus, % of GDP
China Eswatini
2024 -7.34% -1.36%
2023 -6.71% -0.67%
2022 -7.32% -5.4%
2021 -5.9% -4.68%
2020 -9.56% -4.27%
2019 -6% -6.26%
2018 -4.2% -6.72%
2017 -3.34% -5.68%
2016 -3.33% -8.54%
2015 -2.5% -6.03%
2014 -0.67% -1.18%
2013 -0.82% 0.59%
2012 -0.3% 3.48%
2011 -0.1% -4.02%
2010 -0.36% -9.52%
2009 -1.72% -3.06%
2008 -0.02% 1.63%
2007 0.06% 2.44%
2006 -1.13% 8.88%
2005 -1.38% -1.7%
2004 -1.49% -4.1%
2003 -2.36% -2.15%
2002 -2.84% -3.78%
2001 -2.56% -2.31%
2000 -2.81% -1.22%
1999 -2.3% -1.27%
1998 -1.08% 1.07%
1997 -0.73% 2.11%
1996 -0.73% -1%
1995 -0.94% 0.9%
1994 -1.68% -3.61%
1993 -0.89% -3.29%
1992 -1.22% -2.9%
1991 -1.04% 3.4%
1990 -0.72% 5.61%
1989 -0.91% 5.82%
1988 -2.22% 3.23%
1987 -2.08% 2.03%
1986 -1.82% -2.41%
1985 -0.45% -1.33%
1984 -1.44% 1.25%
1983 -1.61% -0.6%
1982 -1.33% 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/china/eswatini | CC BY

In 2024, China's government deficit, the difference between spending and revenue, was $1.38T, equivalent to 7.34% of GDP. This compares to Eswatini's deficit of $66.2M, or 1.36% of GDP.

Over the past 43 years, China recorded a fiscal deficit in 42 of those years, while Eswatini ran a deficit in 28 years. On average, China posted an annual deficit equal to 2.28% of GDP, compared to deficit of 1.31% of GDP for Eswatini.

Inflation comparison by year

Inflation
China

Eswatini
1x
Year Consumer prices inflation
China Eswatini
2024 0.2% -
2023 0.2% -
2022 2% -
2021 0.9% -
2020 2.5% -
2019 2.9% 2.6%
2018 2.1% 4.82%
2017 1.6% 6.22%
2016 2% 7.85%
2015 1.5% 4.95%
2014 2% 5.68%
2013 2.7% 5.62%
2012 2.6% 8.94%
2011 5.4% 6.11%
2010 3.3% 4.51%
2009 -0.7% 7.45%
2008 5.9% 12.7%
2007 4.7% 8.08%
2006 1.5% 5.3%
2005 1.8% 4.77%
2004 3.9% 3.45%
2003 1.1% 7.29%
2002 -0.8% 12%
2001 0.7% 5.94%
2000 0.4% 12.2%
1999 -1.4% 6.09%
1998 -0.8% 8.11%
1997 2.8% 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/china/eswatini | CC BY

Over the past 23 years, China has recorded an average annual inflation rate of 1.97%, compared with 6.86% in Eswatini. In 2019, inflation was 0.2% in China and 2.6% in Eswatini.

Top exports between countries

China
Export category Export value
Machinery & equipment $22M
Textiles & consumer goods $16M
Chemicals & pharma $4.49M
Raw materials & minerals $4.15M
Metals $3.05M
Processed food, beverages & tobacco $409K
Miscellaneous $340K
Wood & paper products $329K
Precious metals & jewellery $51K
Raw agricultural goods $17K
Eswatini
Export category Export value
Chemicals & pharma $166K
Wood & paper products $2K
Miscellaneous $1K
Processed food, beverages & tobacco $1K

Balance of trade

China Eswatini
Current account balance
$424B
2024
$78.3M
2024
Current account balance ranking
1/190
2024
69/190
2024
Current account balance, % of GDP
+2.26%
2024
+1.61%
2024
Goods imports
$2.64T
2024
$2.07B
2024
Goods exports
$3.41T
2024
$2.33B
2024
Service imports
$613B
2024
$542M
2024
Service exports
$384B
2024
$234M
2024
Imports of goods and services, % of GDP
17.2%
2024
53.7%
2024
Exports of goods and services, % of GDP
20%
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.

China Eswatini
Economic freedom 48.3 57.5
Economic freedom ranking 170/197 116/197
Property rights 40.9 42.5
Government integrity 42.3 29.7
Judicial effectiveness 38.6 35.5
Tax burden 69.3 78.6
Government spending 67.8 71
Fiscal health 4.4 87.5
Business freedom 68.7 49.9
Labor freedom 57.9 55.2
Monetary freedom 76.1 76.8
Trade freedom 73.4 73.6
Investment freedom 20 50
Financial freedom 20 40

Economic freedom comparison by year

China
Eswatini
1x
Year Economic freedom index
China Eswatini
2026 48.3 57.5
2025 49 56.4
2024 48.5 55.6
2023 48.3 54.9
2022 48 51.4
2021 58.4 55.1
2020 59.5 55.3
2019 58.4 54.7
2018 57.8 55.9
2017 57.4 61.1
2016 52 59.7
2015 52.7 59.9
2014 52.5 61.2
2013 51.9 57.2
2012 51.2 57.2
2011 52 59.1
2010 51 57.4
2009 53.2 59.1
2008 53.1 58.4
2007 52 60.1
2006 53.6 61.4
2005 53.7 59.4
2004 52.5 58.6
2003 52.6 59.6
2002 52.8 60.9
2001 52.6 63.6
2000 56.4 62.6
1999 54.8 62.1
1998 53.1 62
1997 51.7 59.4
1996 51.3 58.6
1995 52 63.3

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

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

The Economic Freedom Index for China is 48.3, ranking 170/197, 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

China Eswatini
Services, % of GDP
56.7%
2024
51.4%
2024
Industry, % of GDP
36.5%
2024
34.7%
2024
Agriculture, forestry, and fishing, % of GDP
6.78%
2024
6.48%
2024
GNI, Atlas method
$19.3T
2024
$4.46B
2024
GNI per capita, PPP
$26,920
2024
$10,760
2024
Total reserves including gold
$3.46T
2024
$479M
2023
Total reserves ranking
1/177
2024
159/177
2023
Net foreign direct investment
$154B
2024
-$11.8M
2024
Net inflows of foreign direct investment
$18.6B
2024
$75.5M
2024
Net outflows of foreign direct investment
$172B
2024
$63.8M
2024
Servicing debt to the IMF, % of GNI
1.89%
2024
4.68%
2024
Poverty at national poverty lines
0%
2020
58.9%
2016
Gross capital formation, % of GDP
40.6%
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/china/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 (1980–1992, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2021–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.