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Economy of Equatorial Guinea vs Eswatini compared: GDP & Debt

Updated on by Georank team

Equatorial Guinea has a GDP of $12.8B compared to $4.86B for Eswatini, ranking 148/197 and 162/197 by economy size, respectively.

Equatorial Guinea has $4.65B in government debt (36.4% of GDP), compared to $1.93B (39.8% of GDP) in Eswatini.

Equatorial Guinea vs Eswatini GDP by year

Equatorial Guinea
Eswatini
1x
Year GDP, current $
Equatorial Guinea Eswatini
2024 $12,765,777,677 $4,858,885,841
2023 $12,337,550,584 $4,621,191,262
2022 $13,687,643,436 $4,746,660,274
2021 $12,215,878,033 $4,807,069,277
2020 $9,893,816,008 $4,134,677,810
2019 $11,364,133,550 $4,617,018,959
2018 $13,097,012,134 $4,643,751,059
2017 $12,200,913,879 $4,462,640,651
2016 $11,240,808,848 $3,722,306,117
2015 $13,185,496,881 $3,908,217,914
2014 $21,765,453,082 $4,285,065,665
2013 $21,948,834,284 $4,463,396,204
2012 $22,388,344,144 $4,747,813,067
2011 $21,357,343,669 $4,722,912,047
2010 $16,314,443,436 $4,360,714,359
2009 $15,027,795,173 $3,525,213,502
2008 $19,749,893,536 $3,235,921,171
2007 $13,071,718,759 $3,391,122,887
2006 $10,086,528,699 $3,215,307,901
2005 $8,217,369,093 $3,097,946,371
2004 $4,410,764,339 $2,710,331,785
2003 $2,484,745,935 $2,149,632,433
2002 $1,806,742,742 $1,393,945,031
2001 $1,461,139,022 $1,502,870,486
2000 $1,045,998,496 $1,697,161,558
1999 $621,117,886 $1,547,888,496
1998 $370,687,634 $1,576,908,856
1997 $442,337,871 $1,716,714,070
1996 $232,463,023 $1,602,741,834
1995 $141,853,361 $1,698,989,464
1994 $100,807,003 $1,419,294,254
1993 $136,047,906 $1,357,189,552
1992 $134,707,184 $1,284,759,928
1991 $110,906,029 $1,156,135,718
1990 $112,119,411 $1,114,694,041
1989 $88,265,975 $696,921,542
1988 $100,534,657 $692,026,455
1987 $93,345,860 $584,126,092
1986 $76,407,396 $449,140,318
1985 $62,118,570 $360,079,419
1984 $50,320,914 $494,483,409
1983 $44,442,457 $555,336,146
1982 $44,294,648 $537,568,059
1981 $36,731,423 $570,774,825
1980 $50,642,881 $541,976,853
1979 - $412,093,134
1978 - $340,630,085
1977 $103,987,520 $304,060,076
1976 $103,653,050 $272,550,068
1975 $104,295,643 $288,299,789
1974 $94,159,863 $264,320,941
1973 $81,203,227 $221,915,128
1972 $65,429,198 $146,736,479
1971 $64,946,955 $136,462,081
1970 $66,331,429 $112,139,955
1969 $67,225,714 $105,419,958
1968 $67,514,286 $79,799,968
1967 $72,317,447 $74,759,970
1966 $69,110,000 $76,859,969
1965 $64,748,333 $70,279,972
1964 $51,915,000 $64,980,554
1963 $44,266,667 $54,129,438
1962 $37,253,333 $45,927,962
1961 - $43,026,043
1960 - $35,076,846

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

GeoRank.org/economy/equatorial-guinea/eswatini | CC BY

GDP per capita in Equatorial Guinea vs Eswatini by year

Equatorial Guinea
GDP per capita

GDP per capita, PPP
Eswatini
GDP per capita

GDP per capita, PPP
1x
Year Current $
Equatorial Guinea Eswatini
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,745 $17,567 $3,910 $11,799
2023 $6,678 $17,412 $3,756 $11,300
2022 $7,589 $18,140 $3,894 $10,635
2021 $6,946 $16,821 $3,984 $9,990
2020 $5,764 $13,677 $3,467 $9,329
2019 $6,804 $16,451 $3,913 $9,248
2018 $8,102 $18,413 $3,973 $8,535
2017 $7,809 $18,435 $3,853 $8,584
2016 $7,453 $16,649 $3,238 $8,484
2015 $9,069 $19,479 $3,420 $8,391
2014 $15,549 $27,177 $3,771 $8,366
2013 $16,304 $27,910 $3,950 $8,231
2012 $17,309 $30,012 $4,225 $7,760
2011 $17,198 $27,242 $4,225 $7,571
2010 $13,720 $26,168 $3,923 $7,324
2009 $13,233 $29,722 $3,190 $7,011
2008 $18,211 $30,523 $2,947 $6,914
2007 $12,617 $26,611 $3,109 $6,732
2006 $10,185 $23,511 $2,965 $6,319
2005 $8,674 $22,137 $2,871 $5,773
2004 $4,901 $19,354 $2,526 $5,310
2003 $2,931 $14,496 $2,015 $5,020
2002 $2,264 $13,255 $1,316 $4,742
2001 $1,949 $11,627 $1,430 $4,521
2000 $1,487 $7,420 $1,630 $4,401
1999 $931 $6,470 $1,502 $4,272
1998 $578 $5,280 $1,547 $4,137
1997 $717 $4,387 $1,705 $4,038
1996 $392 $1,793 $1,619 $3,916
1995 $248.3 $1,098 $1,751 $3,777
1994 $183.2 $951 $1,461 $3,526
1993 $256.7 $828 $1,397 $3,371
1992 $263.7 $756 $1,362 $3,289
1991 $225.3 $569 $1,273 $3,236
1990 $236.4 $577 $1,278 $3,202
1989 $193.2 - $832 -
1988 $228.7 - $865 -
1987 $220.9 - $765 -
1986 $188.8 - $611 -
1985 $161.1 - $510 -
1984 $137.9 - $726 -
1983 $129.4 - $843 -
1982 $137.5 - $843 -
1981 $121.1 - $925 -
1980 $175.5 - $908 -
1979 - - $714 -
1978 - - $610 -
1977 $376 - $563 -
1976 $369 - $521 -
1975 $362 - $568 -
1974 $319 - $536 -
1973 $268.6 - $463 -
1972 $211.4 - $315 -
1971 $205.6 - $301 -
1970 $206.8 - $254.2 -
1969 $208.4 - $245.2 -
1968 $211.7 - $190.4 -
1967 $231.9 - $182.8 -
1966 $226.7 - $192.7 -
1965 $217.1 - $181 -
1964 $177.8 - $171.6 -
1963 $154.8 - $146.4 -
1962 $132.9 - $127.1 -
1961 - - $121.8 -
1960 - - $101.6 -

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

GeoRank.org/economy/equatorial-guinea/eswatini | CC BY

Equatorial Guinea's GDP per capita is $6,745, ranking 106/197, compared to $3,910 in Eswatini, ranking 131/197. Adjusted for purchasing power (GDP per capita PPP), Equatorial Guinea ranks 106th at $17,567, while Eswatini ranks 126th at $11,799.

Economic indicators

Equatorial Guinea Eswatini
Gross domestic product
$12.8B
2024
$4.86B
2024
GDP rank
148/197
2024
162/197
2024
GDP growth
0.91%
2023-2024
2.97%
2023-2024
GDP per capita
$6,745
2024
$3,910
2024
GDP per capita rank
106/197
2024
131/197
2024
GDP per capita, PPP
$17,567
2024
$11,799
2024
GDP per capita PPP rank
106/197
2024
126/197
2024
Government debt
$4.65B
2024
$1.93B
2024
Debt-to-GDP ratio
36.4%
2024
39.8%
2024
Government debt per person
$2,458
2024
$1,554
2024
Government debt per person rank
110/185
2024
130/185
2024
Average annual personal income after taxes
$5,042
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%
29.1%
2022
42.7%
2016
Income share by poorest 10%
2.6%
2022
1.4%
2016
Government expenditure, % of GDP
18.5%
2024
33.3%
2024
Consumer prices inflation
3.4%
2023-2024
2.6%
2018-2019
Central bank interest rate n/a
6.75%
2025
Unemployment rate
8.6%
2014
34.6%
2023
Population
1998075
1273390

Spending and national debt comparison by year

Equatorial Guinea
Spending

Debt
Eswatini
Spending

Debt
1x
Year % of GDP
Equatorial Guinea Eswatini
Government spending Government debt Government spending Government debt
2024 18.5% 36.4% 33.3% 39.8%
2023 19.2% 39.1% 32% 40%
2022 14.8% 29.8% 29.6% 40.5%
2021 12.7% 42.3% 30.1% 38.4%
2020 16.2% 49.4% 32.7% 38.2%
2019 16.8% 43.2% 32.9% 30.7%
2018 19.1% 40.6% 32.2% 27%
2017 20.1% 36.2% 33.9% 21.9%
2016 27.8% 41.1% 34.7% 20.5%
2015 41.6% 31.7% 35.3% 16.4%
2014 31.6% 12.6% 33.3% 14.3%
2013 29.3% 6.27% 29.4% 15.5%
2012 35.2% 7.1% 27.8% 15.2%
2011 27.5% 7.17% 26% 15.1%
2010 31.2% 7.89% 31.6% 14.5%
2009 39.8% 4.34% 34.5% 10.8%
2008 19.9% 0.49% 34.4% 15%
2007 19.7% 0.75% 31.2% 16.6%
2006 18.1% 1.22% 28.2% 15%
2005 14.1% 2.85% 29.7% 13.9%
2004 15.5% 4.54% 32% 15.5%
2003 11.8% 6.77% 26.4% 18%
2002 11.3% 19.4% 27.2% 17.6%
2001 13.5% 25.5% 26.4% 22.4%
2000 22.6% 36.6% 25.3% 18.7%
1999 18.7% 60.5% 26.5% 17.2%
1998 35.1% 59.2% 22.5% 15.9%
1997 14.8% 46.3% 21.2% 13%
1996 22.9% 91.2% 23.3% 12%
1995 141.5% 136.9% 20.5% 12.9%
1994 510% 216% 24.7% 13.8%
1993 256.3% 152.6% 24% 15.6%
1992 595% 136.9% 26% 16.6%
1991 284.5% 169.5% 20.3% 20.1%
1990 212.9% 157% 18.7% 20.4%
1989 116.8% 187% 15.8% 26.8%
1988 227.9% 154.5% 15.6% 27.5%
1987 183% 141.3% 17% 36.1%
1986 119% 152.5% 19.8% 44%
1985 115.4% 183.8% 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 (1980–1992, retrieved 2026-02-20).

GeoRank.org/economy/equatorial-guinea/eswatini | CC BY

In 2024, Equatorial Guinea's government spending was $2.36B, accounting for 18.5% of its GDP, while Eswatini spent $1.62B, or 33.3% of GDP.

Debt-to-GDP ratio is 36.4% in Equatorial Guinea and 39.8% in Eswatini, ranking 143/185 and 134/185, respectively.

Government deficit by year

Deficit/surplus
Equatorial Guinea

Eswatini
1x
Year Deficit/surplus, % of GDP
Equatorial Guinea Eswatini
2024 -0.55% -1.36%
2023 2.39% -0.67%
2022 11.7% -5.4%
2021 2.65% -4.68%
2020 -1.77% -4.27%
2019 1.82% -6.26%
2018 0.52% -6.72%
2017 -2.59% -5.68%
2016 -10.9% -8.54%
2015 -15.1% -6.03%
2014 -7.54% -1.18%
2013 -4.4% 0.59%
2012 -7.24% 3.48%
2011 0.83% -4.02%
2010 -4.53% -9.52%
2009 -6.47% -3.06%
2008 14.6% 1.63%
2007 17.2% 2.44%
2006 21.8% 8.88%
2005 18.5% -1.7%
2004 9.22% -4.1%
2003 9.99% -2.15%
2002 17.6% -3.78%
2001 14.9% -2.31%
2000 -2.67% -1.22%
1999 -0.19% -1.27%
1998 -7.65% 1.07%
1997 3.21% 2.11%
1996 -6.36% -1%
1995 -123.4% 0.9%
1994 -487% -3.61%
1993 -217.9% -3.29%
1992 -557% -2.9%
1991 -236% 3.4%
1990 -160.2% 5.61%
1989 -76.2% 5.82%
1988 -208.5% 3.23%
1987 -158% 2.03%
1986 -97.3% -2.41%
1985 -89.3% -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/equatorial-guinea/eswatini | CC BY

In 2024, Equatorial Guinea's government deficit, the difference between spending and revenue, was $70.8M, equivalent to 0.55% of GDP. This compares to Eswatini's deficit of $66.2M, or 1.36% of GDP.

Over the past 40 years, Equatorial Guinea recorded a fiscal deficit in 25 of those years, while Eswatini ran a deficit in 27 years. On average, Equatorial Guinea posted an annual deficit equal to 58.6% of GDP, compared to deficit of 1.43% of GDP for Eswatini.

Inflation comparison by year

Inflation
Equatorial Guinea

Eswatini
1x
Year Consumer prices inflation
Equatorial Guinea Eswatini
2024 3.4% -
2023 2.4% -
2022 4.9% -
2021 -0.1% -
2020 4.8% -
2019 1.2% 2.6%
2018 1.3% 4.82%
2017 0.7% 6.22%
2016 1.4% 7.85%
2015 1.7% 4.95%
2014 4.3% 5.68%
2013 3.2% 5.62%
2012 3.4% 8.94%
2011 4.8% 6.11%
2010 5.3% 4.51%
2009 5.7% 7.45%
2008 4.7% 12.7%
2007 2.8% 8.08%
2006 4.5% 5.3%
2005 5.6% 4.77%
2004 4.2% 3.45%
2003 7.3% 7.29%
2002 7.6% 12%
2001 8.7% 5.94%
2000 4.8% 12.2%
1999 0.4% 6.09%
1998 7.9% 8.11%
1997 3% 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/equatorial-guinea/eswatini | CC BY

Over the past 23 years, Equatorial Guinea has recorded an average annual inflation rate of 4.11%, compared with 6.86% in Eswatini. In 2019, inflation was 3.4% in Equatorial Guinea and 2.6% in Eswatini.

Balance of trade

Equatorial Guinea Eswatini
Current account balance
-$344M
1996
$78.3M
2024
Current account balance ranking
101/190
1996
69/190
2024
Current account balance, % of GDP
-148%
1996
+1.61%
2024
Goods imports
$292M
1996
$2.07B
2024
Goods exports
$175M
1996
$2.33B
2024
Service imports
$185M
1996
$542M
2024
Service exports
$4.88M
1996
$234M
2024
Imports of goods and services, % of GDP
25.4%
2024
53.7%
2024
Exports of goods and services, % of GDP
35.2%
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.

Equatorial Guinea Eswatini
Economic freedom 47.4 57.5
Economic freedom ranking 175/197 116/197
Property rights 16.9 42.5
Government integrity 6.9 29.7
Judicial effectiveness 7.2 35.5
Tax burden 81 78.6
Government spending 90.8 71
Fiscal health 97.3 87.5
Business freedom 35.9 49.9
Labor freedom 45.2 55.2
Monetary freedom 73.5 76.8
Trade freedom 43.6 73.6
Investment freedom 40 50
Financial freedom 30 40

Economic freedom comparison by year

Equatorial Guinea
Eswatini
1x
Year Economic freedom index
Equatorial Guinea Eswatini
2026 47.4 57.5
2025 47.7 56.4
2024 47.7 55.6
2023 48.3 54.9
2022 47.2 51.4
2021 49.2 55.1
2020 48.3 55.3
2019 41 54.7
2018 42 55.9
2017 45 61.1
2016 43.7 59.7
2015 40.4 59.9
2014 44.4 61.2
2013 42.3 57.2
2012 42.8 57.2
2011 47.5 59.1
2010 48.6 57.4
2009 51.3 59.1
2008 51.6 58.4
2007 53.2 60.1
2006 51.5 61.4
2005 53.3 59.4
2004 53.3 58.6
2003 53.1 59.6
2002 46.4 60.9
2001 47.9 63.6
2000 45.6 62.6
1999 45.1 62.1
1998 - 62
1997 - 59.4
1996 - 58.6
1995 - 63.3

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

GeoRank.org/economy/equatorial-guinea/eswatini | CC BY

The Economic Freedom Index for Equatorial Guinea is 47.4, ranking 175/197, 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

Equatorial Guinea Eswatini
Services, % of GDP
51.1%
2024
51.4%
2024
Industry, % of GDP
45.8%
2024
34.7%
2024
Agriculture, forestry, and fishing, % of GDP
3.15%
2024
6.48%
2024
GNI, Atlas method
$8.96B
2024
$4.46B
2024
GNI per capita, PPP
$12,330
2024
$10,760
2024
Total reserves including gold
$1.54B
2023
$479M
2023
Total reserves ranking
134/177
2023
159/177
2023
Net foreign direct investment
-$376M
1996
-$11.8M
2024
Net inflows of foreign direct investment
$188M
2024
$75.5M
2024
Net outflows of foreign direct investment
$154M
2024
$63.8M
2024
Servicing debt to the IMF, % of GNI n/a
4.68%
2024
Poverty at national poverty lines
50.7%
2022
58.9%
2016
Gross capital formation, % of GDP
8.96%
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/equatorial-guinea/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. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. Central Intelligence Agency (CIA) (2014, retrieved 2026-02-20)

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.