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Economy of Eswatini vs Guinea compared: GDP & Debt

Updated on by Georank

Eswatini has a GDP of $5.16B compared to $28.3B for Guinea, ranking 163/197 and 117/197 by economy size, respectively.

Eswatini has $2.31B in government debt (44.9% of GDP), compared to $13.6B (48.1% of GDP) in Guinea.

Eswatini vs Guinea GDP by year

Eswatini
Guinea
1x
Year GDP, current $
Eswatini Guinea
2025 $5,160,679,613 $28,346,024,753
2024 $4,858,885,841 $25,008,678,293
2023 $4,621,191,262 $22,407,615,556
2022 $4,746,660,274 $19,910,452,542
2021 $4,807,069,277 $17,069,115,738
2020 $4,134,677,810 $14,088,693,743
2019 $4,617,018,959 $13,442,861,496
2018 $4,643,751,059 $11,857,030,367
2017 $4,462,640,651 $10,324,668,271
2016 $3,722,306,117 $8,595,955,222
2015 $3,908,217,914 $8,794,201,743
2014 $4,285,065,665 $8,778,473,373
2013 $4,463,396,204 $8,376,613,539
2012 $4,747,813,067 $7,638,044,557
2011 $4,722,912,047 $6,785,137,203
2010 $4,360,714,359 $6,853,467,146
2009 $3,525,213,502 $6,716,905,340
2008 $3,235,921,171 $6,964,179,983
2007 $3,391,122,887 $6,281,918,226
2006 $3,215,307,901 $4,220,019,845
2005 $3,097,946,371 $4,282,468,637
2004 $2,710,331,785 $5,300,767,961
2003 $2,149,632,433 $5,025,167,975
2002 $1,393,945,031 $4,301,608,753
2001 $1,502,870,486 $4,125,527,603
2000 $1,697,161,558 $4,367,458,867
1999 $1,547,888,496 $5,046,806,783
1998 $1,576,908,856 $5,232,118,046
1997 $1,716,714,070 $5,516,916,163
1996 $1,602,741,834 $5,641,243,100
1995 $1,698,989,464 $5,385,704,166
1994 $1,419,294,254 $4,932,800,407
1993 $1,357,189,552 $4,781,166,117
1992 $1,284,759,928 $4,789,220,417
1991 $1,156,135,718 $4,396,178,694
1990 $1,114,694,041 $3,888,320,666
1989 $696,921,542 $3,546,079,263
1988 $692,026,455 $3,476,480,303
1987 $584,126,092 $2,976,714,019
1986 $449,140,318 $2,909,130,355
1985 $360,079,419 $22,787,644,566
1984 $494,483,409 $18,421,497,251
1983 $555,336,146 $15,129,893,722
1982 $537,568,059 $11,926,032,493
1981 $570,774,825 $9,646,440,667
1980 $541,976,853 $9,746,524,915
1979 $412,093,134 $8,877,094,497
1978 $340,630,085 $8,087,305,999
1977 $304,060,076 $6,914,381,291
1976 $272,550,068 $6,762,781,871
1975 $288,299,789 $6,102,769,605
1974 $264,320,941 $5,691,417,541
1973 $221,915,128 $5,152,080,388
1972 $146,736,479 $4,203,069,035
1971 $136,462,081 $3,594,302,908
1970 $112,139,955 $3,220,224,608
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/eswatini/guinea | CC BY

GDP per capita in Eswatini vs Guinea by year

Eswatini
GDP per capita

GDP per capita, PPP
Guinea
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini Guinea
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $4,108 - $1,877 -
2024 $3,910 $11,799 $1,695 $4,565
2023 $3,756 $11,300 $1,555 $4,334
2022 $3,894 $10,635 $1,417 $4,062
2021 $3,984 $9,990 $1,245 $3,739
2020 $3,467 $9,329 $1,054 $3,332
2019 $3,913 $9,248 $1,031 $3,106
2018 $3,973 $8,535 $933 $2,844
2017 $3,853 $8,584 $834 $2,687
2016 $3,238 $8,484 $712 $2,255
2015 $3,420 $8,391 $747 $1,930
2014 $3,771 $8,366 $765 $1,873
2013 $3,950 $8,231 $748 $1,842
2012 $4,225 $7,760 $699 $1,790
2011 $4,225 $7,571 $637 $1,705
2010 $3,923 $7,324 $659 $1,622
2009 $3,190 $7,011 $662 $1,567
2008 $2,947 $6,914 $704 $1,614
2007 $3,109 $6,732 $650 $1,558
2006 $2,965 $6,319 $447 $1,453
2005 $2,871 $5,773 $463 $1,422
2004 $2,526 $5,310 $585 $1,366
2003 $2,015 $5,020 $566 $1,328
2002 $1,316 $4,742 $496 $1,315
2001 $1,430 $4,521 $483 $1,251
2000 $1,630 $4,401 $518 $1,196
1999 $1,502 $4,272 $611 $1,163
1998 $1,547 $4,137 $647 $1,130
1997 $1,705 $4,038 $696 $1,099
1996 $1,619 $3,916 $726 $1,048
1995 $1,751 $3,777 $713 $1,014
1994 $1,461 $3,526 $672 $976
1993 $1,397 $3,371 $671 $947
1992 $1,362 $3,289 $693 $908
1991 $1,273 $3,236 $656 $887
1990 $1,278 $3,202 $604 $871
1989 $832 - $570 -
1988 $865 - $574 -
1987 $765 - $505 -
1986 $611 - $506 -
1985 $510 - $4,062 -
1984 $726 - $3,362 -
1983 $843 - $2,823 -
1982 $843 - $2,273 -
1981 $925 - $1,876 -
1980 $908 - $1,931 -
1979 $714 - $1,790 -
1978 $610 - $1,658 -
1977 $563 - $1,440 -
1976 $521 - $1,431 -
1975 $568 - $1,311 -
1974 $536 - $1,243 -
1973 $463 - $1,143 -
1972 $315 - $948 -
1971 $301 - $825 -
1970 $254.2 - $753 -
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/eswatini/guinea | CC BY

Eswatini's GDP per capita is $4,108, ranking 131/197, compared to $1,877 in Guinea, ranking 161/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while Guinea ranks 161st at $4,565.

Economic indicators

Eswatini Guinea
Gross domestic product
$5.16B
2025
$28.3B
2025
GDP rank
163/197
2025
117/197
2025
GDP growth
4.19%
2024-2025
7.45%
2024-2025
GDP per capita
$4,108
2025
$1,877
2025
GDP per capita rank
131/197
2025
161/197
2025
GDP per capita, PPP
$11,799
2024
$4,565
2024
GDP per capita PPP rank
126/197
2024
161/197
2024
Government debt
$2.31B
2025
$13.6B
2025
Debt-to-GDP ratio
44.9%
2025
48.1%
2025
Government debt per person
$1,843
2025
$902
2025
Government debt per person rank
121/185
2025
146/185
2025
Average annual personal income after taxes
$4,770
2026
$1,966
2026
Market capitalization of domestic companies
$234M
2007
n/a
Number of billionaires
1
2026
n/a
Income share by richest 10%
42.7%
2016
23.1%
2018
Income share by poorest 10%
1.4%
2016
3.5%
2018
Government expenditure, % of GDP
35.7%
2025
25.2%
2025
Consumer prices inflation
2.6%
2018-2019
3.1%
2024-2025
Central bank interest rate
6.75%
2025
n/a
Unemployment rate
34.3%
2023
5.02%
2019
Population
1276995
15624314

Spending and national debt comparison by year

Eswatini
Spending

Debt
Guinea
Spending

Debt
1x
Year % of GDP
Eswatini Guinea
Government spending Government debt Government spending Government debt
2025 35.7% 44.9% 25.2% 48.1%
2024 33.6% 40.1% 20.6% 48.3%
2023 31.5% 39.4% 18.3% 39.8%
2022 28.9% 39.5% 15.7% 37.2%
2021 29.3% 37.3% 15.1% 40.6%
2020 32.2% 37.7% 17.1% 45.3%
2019 32.8% 30.5% 14.9% 37.3%
2018 31.6% 26.5% 15.9% 37.5%
2017 33.6% 21.7% 17.3% 39.9%
2016 34% 20.1% 16.1% 40.6%
2015 34.5% 16% 21.7% 41.5%
2014 32.7% 14.1% 20.1% 32.1%
2013 28.8% 15.2% 18.6% 30.5%
2012 27.1% 14.8% 19.6% 26.9%
2011 25.1% 14.6% 16% 53.8%
2010 31.1% 14.2% 20.5% 71.1%
2009 33.9% 10.6% 16.2% 61.3%
2008 33.4% 14.6% 10.1% 58.5%
2007 30.4% 16.1% 8.66% 60.8%
2006 27.6% 14.7% 13.2% 95.2%
2005 29% 13.6% 11% 97.9%
2004 31% 15% 13% 86.9%
2003 25.9% 17.7% 14.7% 81.6%
2002 26.5% 17.2% 14.4% 82.6%
2001 25.6% 21.7% 14.9% 90.4%
2000 24.7% 18.2% 12.6% 91.5%
1999 25.8% 16.7% 11.6% 92.3%
1998 22% 15.6% 10.3% 75.9%
1997 20.7% 12.7% 12.6% 67.9%
1996 22.5% 11.5% 12% 67.7%
1995 19.9% 12.5% 12.7% 66.5%
1994 23.4% 13.1% 12.6% 71.3%
1993 23% 15% 13.3% 68.9%
1992 24.7% 16.6% 13.8% 62%
1991 19.6% 20.1% 16.3% 70.9%
1990 18.2% 20.4% 18.7% 71.6%
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 (1980–1992, retrieved 2026-07-08).

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

In 2025, Eswatini's government spending was $1.84B, accounting for 35.7% of its GDP, while Guinea spent $7.13B, or 25.2% of GDP.

Debt-to-GDP ratio is 44.9% in Eswatini and 48.1% in Guinea, ranking 118/185 and 111/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

Guinea
1x
Year Deficit/surplus, % of GDP
Eswatini Guinea
2025 -6.14% -7%
2024 -1.06% -4.99%
2023 -0.66% -3.86%
2022 -5.27% -1.88%
2021 -4.55% -1.7%
2020 -4.21% -3.08%
2019 -6.23% -0.17%
2018 -6.59% -0.97%
2017 -5.64% -1.98%
2016 -8.36% -0.08%
2015 -5.89% -6.53%
2014 -1.16% -3.01%
2013 0.57% -3.86%
2012 3.39% 23.7%
2011 -3.88% -0.92%
2010 -9.34% -9.66%
2009 -3% -4.87%
2008 1.58% 0.38%
2007 2.37% 1.28%
2006 8.67% -2.13%
2005 -1.66% -1.06%
2004 -3.97% -3.85%
2003 -2.11% -4.65%
2002 -3.69% -3.37%
2001 -2.24% -3.23%
2000 -1.19% -2.42%
1999 -1.23% -1.3%
1998 1.05% 2.46%
1997 2.06% 0.07%
1996 -0.97% -2.2%
1995 0.87% -1.07%
1994 -3.43% -2.59%
1993 -3.15% -2.33%
1992 -2.76% -0.89%
1991 3.28% -3.25%
1990 5.47% -3.76%
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/eswatini/guinea | CC BY

In 2025, Eswatini's government deficit, the difference between spending and revenue, was $317M, equivalent to 6.14% of GDP. This compares to Guinea's deficit of $1.98B, or 7% of GDP.

Over the past 36 years, Eswatini recorded a fiscal deficit in 26 of those years, while Guinea ran a deficit in 31 years. On average, Eswatini posted an annual deficit equal to 1.92% of GDP, compared to deficit of 1.8% of GDP for Guinea.

Inflation comparison by year

Inflation
Eswatini

Guinea
1x
Year Consumer prices inflation
Eswatini Guinea
2025 - 3.1%
2024 - 4.5%
2023 - 5.4%
2022 - 10.5%
2021 - 12.6%
2020 - 10.6%
2019 2.6% 9.5%
2018 4.82% 9.8%
2017 6.22% 8.9%
2016 7.85% 8.2%
2015 4.95% 8.2%
2014 5.68% 9.7%
2013 5.62% 11.9%
2012 8.94% 15.2%
2011 6.11% 21.4%
2010 4.51% 15.5%
2009 7.45% 4.7%
2008 12.7% 18.4%
2007 8.08% 22.9%
2006 5.3% 34.7%
2005 4.77% 31.4%
2004 3.45% 17.5%
2003 7.29% 11%
2002 12% 3%
2001 5.94% 5.4%
2000 12.2% 6.8%
1999 6.09% 4.6%
1998 8.11% 5.1%
1997 7.13% 1.9%

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/eswatini/guinea | CC BY

Over the past 23 years, Eswatini has recorded an average annual inflation rate of 6.86%, compared with 12.4% in Guinea. In 2019, inflation was 2.6% in Eswatini and 3.1% in Guinea.

Top exports between countries

Eswatini
Export category Export value
Machinery & equipment $45K
Miscellaneous $18K
Guinea
Export category Export value
Precious metals & jewellery $12K
Chemicals & pharma $3K
Machinery & equipment $1K

Balance of trade

Eswatini Guinea
Current account balance
$78.3M
2024
-$392M
2024
Current account balance ranking
65/190
2024
101/190
2024
Current account balance, % of GDP
+1.61%
2024
-1.57%
2024
Goods imports
$2.07B
2024
$7.08B
2024
Goods exports
$2.33B
2024
$11.6B
2024
Service imports
$542M
2024
$3.15B
2024
Service exports
$234M
2024
$71.2M
2024
Imports of goods and services, % of GDP
53.7%
2024
62.3%
2025
Exports of goods and services, % of GDP
53.8%
2024
41.4%
2025

Economic freedom indices

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

Eswatini Guinea
Economic freedom 57.5 53.1
Economic freedom ranking 116/197 141/197
Property rights 42.5 21.3
Government integrity 29.7 26.7
Judicial effectiveness 35.5 26
Tax burden 78.6 70.1
Government spending 71 90.1
Fiscal health 87.5 74.8
Business freedom 49.9 44.8
Labor freedom 55.2 56.4
Monetary freedom 76.8 75.3
Trade freedom 73.6 61.8
Investment freedom 50 50
Financial freedom 40 40

Economic freedom comparison by year

Eswatini
Guinea
1x
Year Economic freedom index
Eswatini Guinea
2026 57.5 53.1
2025 56.4 54.6
2024 55.6 53.3
2023 54.9 53.2
2022 51.4 54.2
2021 55.1 56.5
2020 55.3 56.5
2019 54.7 55.7
2018 55.9 52.2
2017 61.1 47.6
2016 59.7 53.3
2015 59.9 52.1
2014 61.2 53.5
2013 57.2 51.2
2012 57.2 50.8
2011 59.1 51.7
2010 57.4 51.8
2009 59.1 51
2008 58.4 52.8
2007 60.1 54.5
2006 61.4 52.8
2005 59.4 57.4
2004 58.6 56.1
2003 59.6 54.6
2002 60.9 52.9
2001 63.6 58.4
2000 62.6 58.2
1999 62.1 59.4
1998 62 61
1997 59.4 52.9
1996 58.6 58.5
1995 63.3 59.4

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

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

The Economic Freedom Index for Eswatini is 57.5, ranking 116/197, compared to 53.1 for Guinea, ranking 141/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eswatini Guinea
Services, % of GDP
52.4%
2025
35.7%
2025
Industry, % of GDP
33.6%
2025
25.4%
2025
Agriculture, forestry, and fishing, % of GDP
6.41%
2025
31.3%
2025
GNI, Atlas method
$4.69B
2025
$26.2B
2025
GNI per capita, PPP
$11,390
2025
$4,730
2025
Total reserves including gold
$537M
2024
$1.35B
2024
Total reserves ranking
157/177
2024
137/177
2024
Net foreign direct investment
-$11.8M
2024
-$1.4B
2024
Net inflows of foreign direct investment
$75.5M
2024
$1.4B
2024
Net outflows of foreign direct investment
$63.8M
2024
$30K
2024
Servicing debt to the IMF, % of GNI
4.88%
2024
1.94%
2024
Poverty at national poverty lines
58.9%
2016
47%
2020
Gross capital formation, % of GDP
15%
2024
37%
2025

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/eswatini/guinea | CC BY

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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 (1980–1992, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2016–2021, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)
  9. Central Intelligence Agency (CIA) (2020, 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.