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Economy of Eswatini vs Gabon compared: GDP & Debt

Updated on by Georank team

Eswatini has a GDP of $4.89B compared to $20.9B for Gabon, ranking 162/197 and 126/197 by economy size, respectively.

Eswatini has $1.82B in government debt (38.7% of GDP), compared to $15.3B (79.2% of GDP) in Gabon.

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

Eswatini
GDP, current $

GDP, constant 2015 $
Gabon
GDP, current $

GDP, constant 2015 $
Year GDP
Eswatini Gabon
Current $ Constant $ Current $ Constant $
1960 $35,076,846 - $141,468,978 $1,696,430,402
1961 $43,026,043 - $167,637,907 $1,946,939,619
1962 $45,927,962 - $182,796,536 $2,091,971,271
1963 $54,129,438 - $154,480,244 $2,219,423,267
1964 $64,980,554 - $215,679,855 $2,320,505,871
1965 $70,279,972 - $226,474,286 $2,513,881,414
1966 $76,859,969 - $245,849,781 $2,627,207,303
1967 $74,759,970 - $271,543,680 $2,735,320,899
1968 $79,799,968 - $294,468,564 $2,803,944,654
1969 $105,419,958 - $318,124,701 $3,030,584,989
1970 $112,139,955 $401,852,565 $323,802,476 $3,293,619,830
1971 $136,462,081 $457,081,710 $381,687,073 $3,631,503,426
1972 $146,736,479 $481,875,167 $430,508,359 $4,043,205,905
1973 $221,915,128 $525,333,916 $722,780,701 $4,454,902,662
1974 $264,320,941 $555,506,401 $1,544,216,002 $6,214,014,316
1975 $288,299,789 $632,768,698 $2,157,592,940 $7,406,490,804
1976 $272,550,068 $619,357,559 $3,009,409,974 $10,045,078,185
1977 $304,060,076 $625,610,549 $2,809,349,069 $8,781,197,290
1978 $340,630,085 $633,913,207 $2,389,479,272 $6,669,389,058
1979 $412,093,134 $653,608,542 $3,030,251,120 $6,701,028,992
1980 $541,976,853 $734,976,610 $4,279,637,942 $6,872,102,051
1981 $570,774,825 $842,587,777 $3,862,269,121 $7,222,258,279
1982 $537,568,059 $852,467,691 $3,618,007,841 $6,998,547,355
1983 $555,336,146 $862,717,378 $3,391,275,732 $7,391,042,735
1984 $494,483,409 $915,875,910 $3,561,451,561 $7,946,028,914
1985 $360,079,419 $950,609,732 $3,339,914,757 $7,760,652,085
1986 $449,140,318 $1,067,197,054 $3,403,638,189 $7,698,287,661
1987 $584,126,092 $1,223,078,154 $3,281,797,043 $6,378,336,009
1988 $692,026,455 $1,303,432,207 $3,834,503,376 $7,197,655,800
1989 $696,921,542 $1,471,719,695 $4,186,411,464 $7,812,717,801
1990 $1,114,694,041 $1,781,045,749 $5,952,293,765 $8,218,372,647
1991 $1,156,135,718 $1,812,398,860 $5,402,919,785 $8,720,720,961
1992 $1,284,759,928 $1,870,870,590 $5,592,390,827 $8,451,237,981
1993 $1,357,189,552 $1,928,981,970 $4,378,645,081 $8,784,770,737
1994 $1,419,294,254 $1,975,290,870 $4,190,819,344 $9,110,927,738
1995 $1,698,989,464 $2,070,611,521 $4,958,845,648 $9,564,091,413
1996 $1,602,741,834 $2,150,165,529 $5,694,040,003 $9,910,794,415
1997 $1,716,714,070 $2,216,880,978 $5,326,817,115 $10,479,512,211
1998 $1,576,908,856 $2,274,609,434 $4,483,417,310 $10,843,972,206
1999 $1,547,888,496 $2,341,730,319 $4,662,992,036 $9,875,321,072
2000 $1,738,093,840 $2,382,948,839 $5,080,483,629 $9,689,372,095
2001 $1,542,477,309 $2,408,083,352 $5,023,265,413 $9,896,262,806
2002 $1,432,221,739 $2,513,559,784 $5,335,451,100 $9,871,617,829
2003 $2,197,598,466 $2,611,091,276 $6,511,903,365 $10,093,465,659
2004 $2,770,082,792 $2,705,714,981 $7,770,219,008 $10,163,064,451
2005 $3,178,112,499 $2,868,024,775 $9,582,783,991 $10,435,048,721
2006 $3,291,330,019 $3,039,881,607 $10,327,598,306 $10,142,180,902
2007 $3,469,381,231 $3,174,711,772 $12,455,409,587 $10,751,534,087
2008 $3,294,084,314 $3,200,797,233 $15,571,348,344 $10,395,827,038
2009 $3,580,428,053 $3,250,891,273 $12,113,699,068 $10,409,376,036
2010 $4,438,765,086 $3,374,222,126 $14,372,593,020 $11,147,389,067
2011 $4,820,478,680 $3,450,048,645 $18,210,307,744 $11,937,934,403
2012 $4,886,551,484 $3,636,235,032 $17,170,464,016 $12,564,804,521
2013 $4,464,726,181 $3,776,637,841 $17,595,744,798 $13,273,296,029
2014 $4,286,015,248 $3,830,866,489 $18,203,966,896 $13,846,034,032
2015 $3,909,281,650 $3,909,281,650 $14,383,107,763 $14,383,107,763
2016 $3,724,180,911 $4,092,073,634 $14,023,890,265 $14,683,922,149
2017 $4,463,673,661 $4,151,686,675 $14,929,487,485 $14,753,324,537
2018 $4,644,696,656 $4,162,339,322 $16,867,326,402 $14,876,945,090
2019 $4,616,996,145 $4,415,541,767 $16,874,405,465 $15,460,241,661
2020 $4,120,621,325 $4,289,130,011 $15,342,236,164 $15,176,119,360
2021 $4,785,708,166 $4,436,460,293 $19,444,935,097 $15,398,898,314
2022 $4,741,163,885 $4,486,130,489 $20,440,655,695 $15,866,657,481
2023 $4,604,172,127 $4,640,654,280 $20,055,720,403 $16,254,737,015
2024 $4,891,883,720 $4,763,200,252 $20,867,044,936 $16,804,782,297

Economic indicators

Eswatini Gabon
Gross domestic product
$4.89B
2024
$20.9B
2024
GDP rank
162/197
2024
126/197
2024
GDP growth
6.25%
2023-2024
4.05%
2023-2024
GDP per capita
$3,936
2024
$8,219
2024
GDP per capita rank
131/197
2024
96/197
2024
GDP per capita, PPP
$11,784
2024
$21,510
2024
Government debt
$1.82B
2024
$15.3B
2024
Debt-to-GDP ratio
38.7%
2025
79.2%
2025
Government debt per person
$1,465
2024
$6,033
2024
Government debt per person rank
129/185
2024
73/185
2024
Average annual personal income after taxes
$3,418
2025
$5,135
2025
Market capitalization of domestic companies
$234M
2007
n/a
Number of billionaires
1
2025
n/a
Income share by richest 10%
42.7%
2016
27.7%
2017
Income share by poorest 10%
1.4%
2016
2.2%
2017
Government expenditure, % of GDP
32.8%
2025
26.3%
2025
Consumer prices inflation
2.6%
2018-2019
1.17%
2023-2024
Central bank interest rate
7%
2024
n/a
Unemployment rate
34.6%
2023
20.4%
2010
Population
1267161
2636721

GDP per capita in Eswatini vs Gabon

Eswatini's GDP per capita is $3,936, ranking 131/197, compared to $8,219 in Gabon, ranking 96/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 125th at $11,784, while Gabon ranks 89th at $21,510.

Eswatini
GDP per capita

GDP per capita, PPP
Gabon
GDP per capita

GDP per capita, PPP
Year Current $
Eswatini Gabon
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $101.6 - $276.1 -
1961 $121.8 - $323 -
1962 $127.1 - $348 -
1963 $146.4 - $290.7 -
1964 $171.6 - $400 -
1965 $181 - $415 -
1966 $192.7 - $443 -
1967 $182.8 - $482 -
1968 $190.4 - $515 -
1969 $245.2 - $545 -
1970 $254.2 - $543 -
1971 $301 - $627 -
1972 $315 - $693 -
1973 $463 - $1,140 -
1974 $536 - $2,384 -
1975 $568 - $3,258 -
1976 $521 - $4,441 -
1977 $563 - $4,048 -
1978 $610 - $3,360 -
1979 $714 - $4,155 -
1980 $908 - $5,718 -
1981 $925 - $5,026 -
1982 $843 - $4,584 -
1983 $843 - $4,182 -
1984 $726 - $4,273 -
1985 $510 - $3,898 -
1986 $611 - $3,865 -
1987 $765 - $3,624 -
1988 $865 - $4,119 -
1989 $832 - $4,374 -
1990 $1,278 $3,218 $6,051 $11,952
1991 $1,273 $3,252 $5,345 $12,760
1992 $1,362 $3,305 $5,386 $12,312
1993 $1,397 $3,388 $4,106 $12,757
1994 $1,461 $3,544 $3,828 $13,164
1995 $1,751 $3,796 $4,415 $13,750
1996 $1,619 $3,935 $4,943 $14,147
1997 $1,705 $4,059 $4,509 $14,837
1998 $1,547 $4,157 $3,700 $15,138
1999 $1,502 $4,294 $3,751 $13,629
2000 $1,669 $4,423 $3,983 $13,326
2001 $1,468 $4,528 $3,836 $13,556
2002 $1,352 $4,762 $3,966 $13,369
2003 $2,060 $5,010 $4,711 $13,564
2004 $2,581 $5,299 $5,466 $13,638
2005 $2,945 $5,761 $6,548 $14,028
2006 $3,035 $6,264 $6,847 $13,637
2007 $3,181 $6,680 $8,004 $14,391
2008 $3,000 $6,818 $9,689 $13,734
2009 $3,240 $6,923 $7,291 $13,384
2010 $3,993 $7,231 $8,357 $14,015
2011 $4,312 $7,504 $10,219 $14,784
2012 $4,348 $7,756 $9,297 $14,620
2013 $3,951 $8,234 $9,198 $14,498
2014 $3,772 $8,368 $9,201 $14,854
2015 $3,421 $8,393 $7,047 $14,306
2016 $3,240 $8,488 $6,677 $13,998
2017 $3,854 $8,586 $6,922 $14,797
2018 $3,973 $8,537 $7,624 $15,432
2019 $3,913 $9,248 $7,441 $15,950
2020 $3,455 $9,298 $6,606 $14,477
2021 $3,966 $9,946 $8,181 $18,524
2022 $3,890 $10,665 $8,409 $19,993
2023 $3,742 $11,322 $8,071 $20,757
2024 $3,936 $11,784 $8,219 $21,510

Spending and national debt comparison

In 2024, Eswatini's government spending was $1.59B, accounting for 32.8% of its GDP, while Gabon's spent $5.2B, or 26.3% of GDP.

Debt-to-GDP ratio is 38.7% in Eswatini and 79.2% in Gabon, ranking 138/185 and 44/185, respectively.

Eswatini
Government spending

Government debt
Gabon
Government spending

Government debt
Year % of GDP
Eswatini Gabon
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% 22.6% 90%
1991 19.7% 20.1% 25.1% 89.3%
1992 25.2% 16.6% 26.5% 87.9%
1993 23.3% 15.2% 26.9% 90.1%
1994 24% 13.4% 23.9% 71.3%
1995 19.9% 12.5% 25.1% 73.4%
1996 22.6% 11.6% 22.2% 64.5%
1997 20.6% 12.6% 29.7% 57%
1998 21.8% 15.5% 45.5% 87.6%
1999 25.8% 16.7% 25.5% 73.1%
2000 24.6% 18.2% 20.3% 72.5%
2001 25.7% 21.8% 27.8% 81%
2002 26.4% 17.1% 25.7% 81.1%
2003 25.6% 17.5% 21.2% 70.2%
2004 31% 15% 20.9% 60.3%
2005 28.9% 13.5% 20.8% 41.7%
2006 27.4% 14.6% 21.1% 34.9%
2007 30.3% 16.1% 19.4% 39.2%
2008 33.4% 14.6% 18.9% 20.1%
2009 33.5% 10.5% 22.6% 26%
2010 30.7% 14.1% 23.1% 21.3%
2011 25.3% 14.7% 22.1% 21.4%
2012 27% 14.8% 23.9% 21.4%
2013 28.5% 15% 34.7% 31.1%
2014 32.2% 13.9% 23.8% 34.1%
2015 34.3% 15.8% 22.3% 44.7%
2016 34.6% 20% 21.8% 64.5%
2017 35.5% 22.2% 18.1% 62.9%
2018 35% 26.9% 17.1% 62.3%
2019 34.1% 31.5% 17.4% 59.8%
2020 34% 39.6% 19.8% 83%
2021 29.7% 37.9% 17.3% 72.9%
2022 30.5% 42.2% 19.7% 65.6%
2023 30.1% 37.9% 21.5% 70.6%
2024 32.4% 37.2% 24.9% 73.4%
2025 32.8% 38.7% 26.3% 79.2%

Government deficit by year

In 2024, Eswatini's government deficit, the difference between spending and revenue, was -$95M, equivalent to -1.94% of GDP. This compares to Gabon's deficit of -$807M, or -3.87% of GDP.

Over the past 35 years, Eswatini recorded a fiscal deficit in 24 of those years, while Gabon ran a deficit in 15 years. On average, Eswatini posted an annual deficit equal to -1.94% of GDP, compared to surplus of +1.52% of GDP for Gabon.

Deficit/surplus
Eswatini

Gabon
Year Deficit/surplus, % of GDP
Eswatini Gabon
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% -3.83%
1991 3.3% -2.03%
1992 -2.81% -4.9%
1993 -3.2% -5.35%
1994 -3.51% -1.53%
1995 0.87% 2.64%
1996 -0.97% 2.12%
1997 2.05% 1.41%
1998 1.04% -13.1%
1999 -1.23% 1.11%
2000 -1.19% 11.1%
2001 -2.25% 4.07%
2002 -3.67% 3.72%
2003 -2.09% 7.75%
2004 -3.98% 6.99%
2005 -1.65% 7.98%
2006 8.62% 8.67%
2007 2.36% 8.06%
2008 1.58% 11%
2009 -2.97% 6.77%
2010 -9.24% 2.7%
2011 -3.9% 1.41%
2012 3.38% 6.2%
2013 0.57% -3.07%
2014 -1.15% 5.98%
2015 -6.14% -1.12%
2016 -9.09% -4.71%
2017 -6.93% -1.7%
2018 -9.66% -0.21%
2019 -6.7% 2.13%
2020 -4.62% -2.19%
2021 -4.59% -1.93%
2022 -4.74% -0.89%
2023 0.94% 1.79%
2024 -1.94% -3.87%
2025 -5.51% -5.85%

Inflation comparison by year

Over the past 24 years, Eswatini has recorded an average annual inflation rate of 6.84%, compared with 1.92% in Gabon. In 2019, inflation was 2.6% in Eswatini and 1.17% in Gabon.

Inflation
Eswatini

Gabon
Year Inflation
Eswatini Gabon Eswatini Gabon
1996 6.43% 0.69%
1997 7.13% 3.97%
1998 8.11% 1.45%
1999 6.09% -1.94%
2000 12.2% 0.5%
2001 5.94% 2.14%
2002 12% 0.04%
2003 7.29% 2.24%
2004 3.45% 0.41%
2005 4.77% 3.71%
2006 5.3% -1.41%
2007 8.08% 5.03%
2008 12.7% 5.26%
2009 7.45% 1.89%
2010 4.51% 1.46%
2011 6.11% 1.26%
2012 8.94% 2.65%
2013 5.62% 0.51%
2014 5.68% 4.69%
2015 4.95% -0.34%
2016 7.85% 2.11%
2017 6.22% 2.65%
2018 4.82% 4.75%
2019 2.6% 2.46%
2020 - 1.35%
2021 - 1.09%
2022 - 4.23%
2023 - 3.63%
2024 - 1.17%

Top exports between countries

Eswatini
Export category Export value
Raw agricultural goods $46K
Gabon
Export category Export value

Balance of trade

Eswatini Gabon
Current account balance
$108M
2023
$141M
2015
Current account balance ranking
65/189
2023
63/189
2015
Current account balance, % of GDP
+2.34%
2023
+0.98%
2015
Goods imports
$1.86B
2023
$3.17B
2015
Goods exports
$2.03B
2023
$5.11B
2015
Service imports
$489M
2023
$1.88B
2015
Service exports
$145M
2023
$277M
2015
Imports of goods and services, % of GDP
51.4%
2023
29.2%
2024
Exports of goods and services, % of GDP
48.7%
2023
65.3%
2024

Economic freedom indices

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

Eswatini Gabon
Economic freedom 56.4 56.3
Economic freedom ranking 118/197 120/197
Property rights 44.8 25.4
Government integrity 29.9 21.7
Judicial effectiveness 36.8 19.8
Tax burden 76.1 77.7
Government spending 73.9 88.4
Fiscal health 70.6 85.7
Business freedom 49.5 64.9
Labor freedom 55.9 55.7
Monetary freedom 76.1 78.1
Trade freedom 73.6 58
Investment freedom 50 60
Financial freedom 40 40

Economic freedom by year comparison

The Economic Freedom Index for Eswatini is 56.4, ranking 118/197, compared to 56.3 for Gabon, ranking 120/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Eswatini
Gabon
Year Economic freedom index
Eswatini Gabon
1995 63.3 57.5
1996 58.6 55.7
1997 59.4 58.8
1998 62 59.2
1999 62.1 60.5
2000 62.6 58.2
2001 63.6 55
2002 60.9 58
2003 59.6 58.7
2004 58.6 57.1
2005 59.4 54.8
2006 61.4 56.1
2007 60.1 54.8
2008 58.4 54.2
2009 59.1 55
2010 57.4 55.4
2011 59.1 56.7
2012 57.2 56.4
2013 57.2 57.8
2014 61.2 57.8
2015 59.9 58.3
2016 59.7 59
2017 61.1 58.6
2018 55.9 58
2019 54.7 56.3
2020 55.3 56.7
2021 55.1 58.1
2022 51.4 55.8
2023 54.9 56.1
2024 55.6 56.9
2025 56.4 56.3

More economic indicators

Eswatini Gabon
Services, % of GDP
51.7%
2023
37.5%
2024
Industry, % of GDP
34.7%
2023
50.9%
2024
Agriculture, forestry, and fishing, % of GDP
6.78%
2023
6.15%
2024
GNI, Atlas method
$4.45B
2024
$19.2B
2024
GNI per capita, PPP
$10,750
2024
$19,540
2024
Total reserves including gold
$479M
2023
$1.45B
2023
Total reserves ranking
159/177
2023
136/177
2023
Net foreign direct investment
-$50.8M
2023
-$25.3M
2015
Net inflows of foreign direct investment
$75.5M
2024
$1.14B
2024
Net outflows of foreign direct investment
$63.8M
2024
-$33.8M
2019
Servicing debt to the IMF, % of GNI
3.92%
2023
6.33%
2023
Poverty at national poverty lines
58.9%
2016
33.4%
2017
Gross capital formation, % of GDP
19.2%
2023
18.1%
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.