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Economy of Eswatini vs Finland compared: GDP & Debt

Updated on by Georank team

Eswatini has a GDP of $4.86B compared to $299B for Finland, ranking 162/197 and 47/197 by economy size, respectively.

Eswatini has $1.93B in government debt (39.8% of GDP), compared to $245B (82.1% of GDP) in Finland.

Eswatini vs Finland GDP by year

Eswatini
Finland
1x
Year GDP, current $
Eswatini Finland
2024 $4,858,885,841 $298,696,961,298
2023 $4,621,191,262 $295,021,982,463
2022 $4,746,660,274 $280,253,099,309
2021 $4,807,069,277 $294,223,210,496
2020 $4,134,677,810 $270,000,311,606
2019 $4,617,018,959 $267,014,821,129
2018 $4,643,751,059 $273,869,255,596
2017 $4,462,640,651 $253,846,138,440
2016 $3,722,306,117 $238,777,818,793
2015 $3,908,217,914 $233,210,733,506
2014 $4,285,065,665 $273,478,528,955
2013 $4,463,396,204 $270,268,036,626
2012 $4,747,813,067 $257,443,384,493
2011 $4,722,912,047 $275,126,915,516
2010 $4,360,714,359 $249,429,613,683
2009 $3,525,213,502 $253,480,783,439
2008 $3,235,921,171 $285,698,662,071
2007 $3,391,122,887 $256,360,251,538
2006 $3,215,307,901 $217,044,068,234
2005 $3,097,946,371 $204,859,368,791
2004 $2,710,331,785 $197,458,297,640
2003 $2,149,632,433 $171,612,867,736
2002 $1,393,945,031 $140,360,963,812
2001 $1,502,870,486 $129,519,672,869
2000 $1,697,161,558 $125,967,821,111
1999 $1,547,888,496 $135,234,241,918
1998 $1,576,908,856 $133,990,876,725
1997 $1,716,714,070 $126,862,902,302
1996 $1,602,741,834 $131,991,975,149
1995 $1,698,989,464 $134,060,457,516
1994 $1,419,294,254 $103,182,697,780
1993 $1,357,189,552 $89,112,105,756
1992 $1,284,759,928 $112,537,828,511
1991 $1,156,135,718 $127,794,441,994
1990 $1,114,694,041 $141,446,120,355
1989 $696,921,542 $118,991,270,611
1988 $692,026,455 $109,039,090,263
1987 $584,126,092 $91,564,993,913
1986 $449,140,318 $73,511,611,541
1985 $360,079,419 $55,856,676,899
1984 $494,483,409 $52,870,993,273
1983 $555,336,146 $50,956,447,481
1982 $537,568,059 $52,784,013,815
1981 $570,774,825 $52,440,066,134
1980 $541,976,853 $53,649,984,061
1979 $412,093,134 $44,469,218,440
1978 $340,630,085 $36,259,392,058
1977 $304,060,076 $33,502,784,418
1976 $272,550,068 $31,852,352,670
1975 $288,299,789 $29,475,251,333
1974 $264,320,941 $24,851,036,710
1973 $221,915,128 $19,474,098,335
1972 $146,736,479 $14,744,499,570
1971 $136,462,081 $12,528,522,307
1970 $112,139,955 $11,358,529,162
1969 $105,419,958 $10,177,524,839
1968 $79,799,968 $8,916,565,041
1967 $74,759,970 $9,468,272,357
1966 $76,859,969 $9,306,142,172
1965 $70,279,972 $8,680,393,839
1964 $64,980,554 $7,848,987,793
1963 $54,129,438 $6,958,916,548
1962 $45,927,962 $6,407,796,043
1961 $43,026,043 $5,984,433,774
1960 $35,076,846 $5,279,481,824

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

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

GDP per capita in Eswatini vs Finland by year

Eswatini
GDP per capita

GDP per capita, PPP
Finland
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini Finland
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $3,910 $11,799 $53,150 $65,378
2023 $3,756 $11,300 $52,834 $63,415
2022 $3,894 $10,635 $50,441 $62,133
2021 $3,984 $9,990 $53,099 $56,790
2020 $3,467 $9,329 $48,829 $53,297
2019 $3,913 $9,248 $48,358 $52,276
2018 $3,973 $8,535 $49,654 $49,249
2017 $3,853 $8,584 $46,085 $47,235
2016 $3,238 $8,484 $43,451 $44,562
2015 $3,420 $8,391 $42,560 $42,258
2014 $3,771 $8,366 $50,074 $41,547
2013 $3,950 $8,231 $49,691 $41,326
2012 $4,225 $7,760 $47,552 $40,739
2011 $4,225 $7,571 $51,060 $40,846
2010 $3,923 $7,324 $46,506 $38,946
2009 $3,190 $7,011 $47,478 $37,988
2008 $2,947 $6,914 $53,769 $40,081
2007 $3,109 $6,732 $48,473 $37,843
2006 $2,965 $6,319 $41,214 $34,440
2005 $2,871 $5,773 $39,050 $32,048
2004 $2,526 $5,310 $37,768 $31,195
2003 $2,015 $5,020 $32,920 $29,043
2002 $1,316 $4,742 $26,989 $28,596
2001 $1,430 $4,521 $24,965 $27,798
2000 $1,630 $4,401 $24,336 $26,783
1999 $1,502 $4,272 $26,180 $24,762
1998 $1,547 $4,137 $26,000 $23,570
1997 $1,705 $4,038 $24,682 $21,787
1996 $1,619 $3,916 $25,757 $20,067
1995 $1,751 $3,777 $26,246 $19,568
1994 $1,461 $3,526 $20,278 $18,458
1993 $1,397 $3,371 $17,589 $17,458
1992 $1,362 $3,289 $22,320 $17,271
1991 $1,273 $3,236 $25,489 $17,563
1990 $1,278 $3,202 $28,366 $18,149
1989 $832 - $23,969 -
1988 $865 - $22,044 -
1987 $765 - $18,565 -
1986 $611 - $14,947 -
1985 $510 - $11,394 -
1984 $726 - $10,830 -
1983 $843 - $10,494 -
1982 $843 - $10,935 -
1981 $925 - $10,925 -
1980 $908 - $11,225 -
1979 $714 - $9,333 -
1978 $610 - $7,629 -
1977 $563 - $7,070 -
1976 $521 - $6,740 -
1975 $568 - $6,256 -
1974 $536 - $5,298 -
1973 $463 - $4,174 -
1972 $315 - $3,178 -
1971 $301 - $2,716 -
1970 $254.2 - $2,466 -
1969 $245.2 - $2,201 -
1968 $190.4 - $1,927 -
1967 $182.8 - $2,056 -
1966 $192.7 - $2,032 -
1965 $181 - $1,902 -
1964 $171.6 - $1,726 -
1963 $146.4 - $1,538 -
1962 $127.1 - $1,427 -
1961 $121.8 - $1,341 -
1960 $101.6 - $1,192 -

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

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

Eswatini's GDP per capita is $3,910, ranking 131/197, compared to $53,150 in Finland, ranking 23/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while Finland ranks 27th at $65,378.

Economic indicators

Eswatini Finland
Gross domestic product
$4.86B
2024
$299B
2024
GDP rank
162/197
2024
47/197
2024
GDP growth
2.97%
2023-2024
0.42%
2023-2024
GDP per capita
$3,910
2024
$53,150
2024
GDP per capita rank
131/197
2024
23/197
2024
GDP per capita, PPP
$11,799
2024
$65,378
2024
GDP per capita PPP rank
126/197
2024
27/197
2024
Government debt
$1.93B
2024
$245B
2024
Debt-to-GDP ratio
39.8%
2024
82.1%
2024
Government debt per person
$1,554
2024
$43,662
2024
Government debt per person rank
130/185
2024
12/185
2024
Average annual personal income after taxes
$3,913
2026
$36,394
2026
Market capitalization of domestic companies
$234M
2007
$20.3B
2004
Number of billionaires
1
2025
7
2025
Income share by richest 10%
42.7%
2016
22.5%
2023
Income share by poorest 10%
1.4%
2016
3.7%
2023
Government expenditure, % of GDP
33.3%
2024
57.7%
2024
Consumer prices inflation
2.6%
2018-2019
1.57%
2023-2024
Central bank interest rate
6.75%
2025
n/a
Unemployment rate
34.6%
2023
8.34%
2024
Population
1273390
5631965

Spending and national debt comparison by year

Eswatini
Spending

Debt
Finland
Spending

Debt
1x
Year % of GDP
Eswatini Finland
Government spending Government debt Government spending Government debt
2024 33.3% 39.8% 57.7% 82.1%
2023 32% 40% 55.9% 77.5%
2022 29.6% 40.5% 52.6% 74%
2021 30.1% 38.4% 55.2% 73.2%
2020 32.7% 38.2% 56.5% 75.3%
2019 32.9% 30.7% 52.6% 65.3%
2018 32.2% 27% 52.7% 65.3%
2017 33.9% 21.9% 52.8% 66.6%
2016 34.7% 20.5% 55.1% 68.6%
2015 35.3% 16.4% 55.7% 68.8%
2014 33.3% 14.3% 57.6% 64.8%
2013 29.4% 15.5% 57.1% 60.8%
2012 27.8% 15.2% 55.7% 57.9%
2011 26% 15.1% 53.8% 52%
2010 31.6% 14.5% 54% 50.1%
2009 34.5% 10.8% 54.1% 41.5%
2008 34.4% 15% 47.9% 32.6%
2007 31.2% 16.6% 46.7% 33.9%
2006 28.2% 15% 48.3% 38%
2005 29.7% 13.9% 49.2% 39.9%
2004 32% 15.5% 48.2% 42.6%
2003 26.4% 18% 48.3% 42.7%
2002 27.2% 17.6% 47.5% 40.1%
2001 26.4% 22.4% 46.2% 40.9%
2000 25.3% 18.7% 46.9% 42.4%
1999 26.5% 17.2% 49.9% 44%
1998 22.5% 15.9% 51.3% 46.8%
1997 21.2% 13% 54.9% 52.2%
1996 23.3% 12% 58.5% 55.4%
1995 20.5% 12.9% 60% 55.2%
1994 24.7% 13.8% 62.2% 56.2%
1993 24% 15.6% 63.7% 54.2%
1992 26% 16.6% 60.8% 39.3%
1991 20.3% 20.1% 55.8% 21.9%
1990 18.7% 20.4% 47.1% 13.9%
1989 15.8% 26.8% 44.4% 14.3%
1988 15.6% 27.5% 46.4% 16.5%
1987 17% 36.1% 47.8% 17.6%
1986 19.8% 44% 46.9% 16.4%
1985 22.3% 45.5% 46.3% 15.8%
1984 22.2% 29.7% 44.4% 15.2%
1983 23.2% 28.7% 44.4% 15.4%
1982 24% 29.2% 42.7% 13.9%
1981 23.8% 24.3% 41% 11.5%
1980 19.6% 27.2% 40.1% 10.9%
1979 - - 40.3% 11%
1978 - - 41.3% 10.7%
1977 - - 41.7% 8.22%
1976 - - 39.8% 7.09%
1975 - - 38.6% 6.76%
1974 - - 22.9% 2.97%
1973 - - 21.8% 4.42%
1972 - - 20.4% 6.46%
1971 - - 22.8% 7.94%
1970 - - 21.9% 9.19%
1969 - - 22.2% 10.8%
1968 - - 25.5% 13.9%
1967 - - 23.5% 14.2%
1966 - - 23.3% 13.7%
1965 - - 23.2% 13%
1964 - - 22.8% 12.5%
1963 - - 21.6% 12.2%
1962 - - 23.9% 10.3%
1961 - - 22.7% 9.12%
1960 - - 22.5% 9.96%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1992, retrieved 2026-02-20).

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

In 2024, Eswatini's government spending was $1.62B, accounting for 33.3% of its GDP, while Finland spent $172B, or 57.7% of GDP.

Debt-to-GDP ratio is 39.8% in Eswatini and 82.1% in Finland, ranking 134/185 and 42/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

Finland
1x
Year Deficit/surplus, % of GDP
Eswatini Finland
2024 -1.36% -4.41%
2023 -0.67% -2.98%
2022 -5.4% -0.18%
2021 -4.68% -2.69%
2020 -4.27% -5.53%
2019 -6.26% -0.93%
2018 -6.72% -0.87%
2017 -5.68% -0.63%
2016 -8.54% -1.7%
2015 -6.03% -2.43%
2014 -1.18% -2.99%
2013 0.59% -2.52%
2012 3.48% -2.15%
2011 -4.02% -1.01%
2010 -9.52% -2.57%
2009 -3.06% -2.48%
2008 1.63% 4.18%
2007 2.44% 5.12%
2006 8.88% 3.93%
2005 -1.7% 2.59%
2004 -4.1% 2.16%
2003 -2.15% 2.34%
2002 -3.78% 3.97%
2001 -2.31% 4.89%
2000 -1.22% 6.73%
1999 -1.27% 1.6%
1998 1.07% 1.54%
1997 2.11% -1.33%
1996 -1% -3.37%
1995 0.9% -5.98%
1994 -3.61% -6.41%
1993 -3.29% -8.09%
1992 -2.9% -4.88%
1991 3.4% 0.3%
1990 5.61% 6.63%
1989 5.82% 6.73%
1988 3.23% 5.09%
1987 2.03% 1.63%
1986 -2.41% 3.83%
1985 -1.33% 3.33%
1984 1.25% 3.23%
1983 -0.6% 1.52%
1982 0.11% 3.06%
1981 -4.29% 5.11%
1980 6.55% 3.7%
1979 - 3.41%
1978 - 3.83%
1977 - 6.27%
1976 - 7.65%
1975 - 4.96%
1974 - -0.03%
1973 - 1.48%
1972 - -0.18%
1971 - 0.15%
1970 - 1.06%
1969 - 0.94%
1968 - -1.69%
1967 - -0.26%
1966 - -1.08%
1965 - -1.67%
1964 - -1.35%
1963 - -2.5%
1962 - -2.37%
1961 - -3.03%
1960 - -0.52%
1959 - -0.12%
1958 - -1.73%
1957 - 0.08%
1956 - -1.14%
1955 - -1%
1954 - -0.17%
1953 - 0.02%
1952 - -1.24%
1951 - 1.1%
1950 - -0.26%
1949 - -2.77%
1948 - 1.88%
1947 - -5.99%
1946 - -15.3%
1945 - -6.35%
1944 - -21.5%
1943 - -14.2%
1942 - -16.4%
1941 - -35.8%
1940 - -36.9%
1939 - -9.76%
1938 - -1.48%
1937 - -4.44%
1936 - -3.75%
1935 - -3.81%
1934 - -2.81%
1933 - -1.63%
1932 - -2.61%
1931 - -2.32%
1930 - -1.94%
1929 - -0.78%
1928 - -2.07%
1927 - -0.32%
1926 - -2.9%
1925 - -2.92%
1924 - 0.04%
1923 - -2.3%
1922 - 0.62%
1921 - -2.59%
1920 - -2.6%
1919 - -7.49%
1918 - -11.4%
1917 - -1.27%
1916 - 1.48%
1915 - -0.29%
1914 - -1.15%
1913 - -0.25%
1912 - 0.33%
1911 - -0.14%
1910 - -0.3%
1909 - -2.64%
1908 - -1.92%
1907 - 0.24%
1906 - 0.86%
1905 - -1.28%
1904 - -1.63%
1903 - -0.3%
1902 - -1.74%
1901 - -2.13%
1900 - -0.52%
1899 - -1%
1898 - -4.55%
1897 - -0.37%
1896 - -0.56%
1895 - -1.21%
1894 - -0.62%
1893 - 0%
1892 - 0.82%
1891 - 0.16%
1890 - 0.17%
1889 - 0.18%
1888 - -0.59%
1887 - -1.46%
1886 - 0%
1885 - -1.2%
1884 - -0.2%
1883 - 0%
1882 - 0.2%

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1882–1989, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

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

In 2024, Eswatini's government deficit, the difference between spending and revenue, was $66.2M, equivalent to 1.36% of GDP. This compares to Finland's deficit of $13.2B, or 4.41% of GDP.

Over the past 45 years, Eswatini recorded a fiscal deficit in 29 of those years, while Finland ran a deficit in 22 years. On average, Eswatini posted an annual deficit equal to 1.21% of GDP, compared to surplus of 0.38% of GDP for Finland.

Inflation comparison by year

Inflation
Eswatini

Finland
1x
Year Consumer prices inflation
Eswatini Finland
2024 - 1.57%
2023 - 6.25%
2022 - 7.12%
2021 - 2.19%
2020 - 0.29%
2019 2.6% 1.02%
2018 4.82% 1.08%
2017 6.22% 0.75%
2016 7.85% 0.36%
2015 4.95% -0.21%
2014 5.68% 1.04%
2013 5.62% 1.48%
2012 8.94% 2.81%
2011 6.11% 3.42%
2010 4.51% 1.18%
2009 7.45% -0%
2008 12.7% 4.07%
2007 8.08% 2.51%
2006 5.3% 1.57%
2005 4.77% 0.62%
2004 3.45% 0.19%
2003 7.29% 0.88%
2002 12% 1.57%
2001 5.94% 2.58%
2000 12.2% 3.04%
1999 6.09% 1.16%
1998 8.11% 1.4%
1997 7.13% 1.19%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 23 years, Eswatini has recorded an average annual inflation rate of 6.86%, compared with 1.47% in Finland. In 2019, inflation was 2.6% in Eswatini and 1.57% in Finland.

Top exports between countries

Eswatini
Export category Export value
Wood & paper products $2K
Finland
Export category Export value
Chemicals & pharma $1.04M
Machinery & equipment $36K
Textiles & consumer goods $1K

Balance of trade

Eswatini Finland
Current account balance
$78.3M
2024
-$1.99B
2024
Current account balance ranking
69/190
2024
143/190
2024
Current account balance, % of GDP
+1.61%
2024
-0.67%
2024
Goods imports
$2.07B
2024
$76.6B
2024
Goods exports
$2.33B
2024
$83.1B
2024
Service imports
$542M
2024
$47.4B
2024
Service exports
$234M
2024
$42B
2024
Imports of goods and services, % of GDP
53.7%
2024
41.6%
2024
Exports of goods and services, % of GDP
53.8%
2024
41.9%
2024

Economic freedom indices

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

Eswatini Finland
Economic freedom 57.5 76.6
Economic freedom ranking 116/197 15/197
Property rights 42.5 99.9
Government integrity 29.7 95.4
Judicial effectiveness 35.5 96.4
Tax burden 78.6 68.4
Government spending 71 7.9
Fiscal health 87.5 76.3
Business freedom 49.9 85.3
Labor freedom 55.2 65.4
Monetary freedom 76.8 80.3
Trade freedom 73.6 79.4
Investment freedom 50 85
Financial freedom 40 80

Economic freedom comparison by year

Eswatini
Finland
1x
Year Economic freedom index
Eswatini Finland
2026 57.5 76.6
2025 56.4 77
2024 55.6 76.3
2023 54.9 77.1
2022 51.4 78.3
2021 55.1 76.1
2020 55.3 75.7
2019 54.7 74.9
2018 55.9 74.1
2017 61.1 74
2016 59.7 72.6
2015 59.9 73.4
2014 61.2 73.4
2013 57.2 74
2012 57.2 72.3
2011 59.1 74
2010 57.4 73.8
2009 59.1 74.5
2008 58.4 74.6
2007 60.1 74
2006 61.4 72.9
2005 59.4 71
2004 58.6 73.4
2003 59.6 73.7
2002 60.9 73.6
2001 63.6 69.7
2000 62.6 64.3
1999 62.1 63.9
1998 62 63.5
1997 59.4 65.2
1996 58.6 63.7
1995 63.3 -

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

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

The Economic Freedom Index for Eswatini is 57.5, ranking 116/197, compared to 76.6 for Finland, ranking 15/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eswatini Finland
Services, % of GDP
51.4%
2024
62.2%
2024
Industry, % of GDP
34.7%
2024
22.8%
2024
Agriculture, forestry, and fishing, % of GDP
6.48%
2024
2.47%
2024
GNI, Atlas method
$4.46B
2024
$290B
2024
GNI per capita, PPP
$10,760
2024
$65,640
2024
Total reserves including gold
$479M
2023
$18B
2024
Total reserves ranking
159/177
2023
65/177
2024
Net foreign direct investment
-$11.8M
2024
$3.28B
2024
Net inflows of foreign direct investment
$75.5M
2024
$8.74B
2024
Net outflows of foreign direct investment
$63.8M
2024
$12B
2024
Servicing debt to the IMF, % of GNI
4.68%
2024
n/a
Poverty at national poverty lines
58.9%
2016
12.2%
2022
Gross capital formation, % of GDP
15%
2024
22.3%
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/eswatini/finland | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1882–1992, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
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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.