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Economy of Eswatini vs Honduras compared: GDP & Debt

Updated on by Georank

Eswatini has a GDP of $5.16B compared to $39.6B for Honduras, ranking 163/197 and 104/197 by economy size, respectively.

Eswatini has $2.31B in government debt (44.9% of GDP), compared to $16.3B (41.2% of GDP) in Honduras.

Eswatini vs Honduras GDP by year

Eswatini
Honduras
1x
Year GDP, current $
Eswatini Honduras
2025 $5,160,679,613 $39,601,409,103
2024 $4,858,885,841 $36,980,171,442
2023 $4,621,191,262 $34,355,805,528
2022 $4,746,660,274 $31,426,041,807
2021 $4,807,069,277 $28,144,331,507
2020 $4,134,677,810 $23,352,232,484
2019 $4,617,018,959 $24,882,225,742
2018 $4,643,751,059 $24,067,750,760
2017 $4,462,640,651 $23,136,247,991
2016 $3,722,306,117 $21,717,604,952
2015 $3,908,217,914 $20,979,791,685
2014 $4,285,065,665 $19,756,533,972
2013 $4,463,396,204 $18,499,729,215
2012 $4,747,813,067 $18,528,554,398
2011 $4,722,912,047 $17,710,275,685
2010 $4,360,714,359 $15,839,344,592
2009 $3,525,213,502 $14,587,496,229
2008 $3,235,921,171 $13,881,731,876
2007 $3,391,122,887 $12,361,257,681
2006 $3,215,307,901 $10,917,477,066
2005 $3,097,946,371 $9,757,012,697
2004 $2,710,331,785 $8,869,299,234
2003 $2,149,632,433 $8,230,391,347
2002 $1,393,945,031 $7,858,255,413
2001 $1,502,870,486 $7,651,162,302
2000 $1,697,161,558 $7,186,638,029
1999 $1,547,888,496 $6,394,090,592
1998 $1,576,908,856 $6,163,707,533
1997 $1,716,714,070 $5,569,178,707
1996 $1,602,741,834 $4,798,834,459
1995 $1,698,989,464 $4,672,346,194
1994 $1,419,294,254 $4,105,686,899
1993 $1,357,189,552 $4,190,773,622
1992 $1,284,759,928 $4,122,846,905
1991 $1,156,135,718 $3,699,381,195
1990 $1,114,694,041 $3,734,460,117
1989 $696,921,542 $4,375,896,552
1988 $692,026,455 $4,892,660,944
1987 $584,126,092 $5,024,800,000
1986 $449,140,318 $4,706,100,000
1985 $360,079,419 $4,328,300,000
1984 $494,483,409 $4,029,900,000
1983 $555,336,146 $3,840,550,000
1982 $537,568,059 $3,619,500,000
1981 $570,774,825 $3,501,800,000
1980 $541,976,853 $3,184,400,000
1979 $412,093,134 $2,778,900,000
1978 $340,630,085 $2,393,650,000
1977 $304,060,076 $1,900,700,000
1976 $272,550,068 $1,589,300,000
1975 $288,299,789 $1,330,050,000
1974 $264,320,941 $1,243,000,000
1973 $221,915,128 $1,128,299,436
1972 $146,736,479 $1,030,645,362
1971 $136,462,081 $958,450,000
1970 $112,139,955 $904,400,000
1969 $105,419,958 $844,400,000
1968 $79,799,968 $815,450,000
1967 $74,759,970 $750,950,000
1966 $76,859,969 $692,150,000
1965 $70,279,972 $651,050,000
1964 $64,980,554 $591,100,000
1963 $54,129,438 $553,500,000
1962 $45,927,962 $532,450,000
1961 $43,026,043 $503,300,000
1960 $35,076,846 $475,650,000

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Eswatini vs Honduras by year

Eswatini
GDP per capita

GDP per capita, PPP
Honduras
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini Honduras
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $4,108 - $3,598 -
2024 $3,910 $11,799 $3,416 $7,486
2023 $3,756 $11,300 $3,227 $7,178
2022 $3,894 $10,635 $3,003 $6,805
2021 $3,984 $9,990 $2,735 $6,203
2020 $3,467 $9,329 $2,308 $5,385
2019 $3,913 $9,248 $2,502 $5,785
2018 $3,973 $8,535 $2,465 $5,633
2017 $3,853 $8,584 $2,413 $5,621
2016 $3,238 $8,484 $2,307 $5,186
2015 $3,420 $8,391 $2,271 $4,846
2014 $3,771 $8,366 $2,180 $4,460
2013 $3,950 $8,231 $2,081 $4,137
2012 $4,225 $7,760 $2,126 $4,016
2011 $4,225 $7,571 $2,074 $3,901
2010 $3,923 $7,324 $1,893 $3,758
2009 $3,190 $7,011 $1,781 $3,656
2008 $2,947 $6,914 $1,732 $3,806
2007 $3,109 $6,732 $1,578 $3,664
2006 $2,965 $6,319 $1,426 $3,438
2005 $2,871 $5,773 $1,305 $3,204
2004 $2,526 $5,310 $1,215 $3,001
2003 $2,015 $5,020 $1,156 $2,821
2002 $1,316 $4,742 $1,132 $2,715
2001 $1,430 $4,521 $1,132 $2,645
2000 $1,630 $4,401 $1,093 $2,587
1999 $1,502 $4,272 $999 $2,372
1998 $1,547 $4,137 $989 $2,152
1997 $1,705 $4,038 $917 $1,959
1996 $1,619 $3,916 $813 $1,617
1995 $1,751 $3,777 $814 $1,329
1994 $1,461 $3,526 $736 $1,074
1993 $1,397 $3,371 $773 $838
1992 $1,362 $3,289 $782 $741
1991 $1,273 $3,236 $722 $684
1990 $1,278 $3,202 $750 $540
1989 $832 - $904 -
1988 $865 - $1,039 -
1987 $765 - $1,098 -
1986 $611 - $1,058 -
1985 $510 - $1,001 -
1984 $726 - $960 -
1983 $843 - $942 -
1982 $843 - $914 -
1981 $925 - $912 -
1980 $908 - $854 -
1979 $714 - $769 -
1978 $610 - $683 -
1977 $563 - $559 -
1976 $521 - $482 -
1975 $568 - $417 -
1974 $536 - $401 -
1973 $463 - $375 -
1972 $315 - $353 -
1971 $301 - $338 -
1970 $254.2 - $329 -
1969 $245.2 - $316 -
1968 $190.4 - $314 -
1967 $182.8 - $298.2 -
1966 $192.7 - $282.9 -
1965 $181 - $273.9 -
1964 $171.6 - $255.9 -
1963 $146.4 - $246.6 -
1962 $127.1 - $244 -
1961 $121.8 - $237.3 -
1960 $101.6 - $230.7 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Eswatini's GDP per capita is $4,108, ranking 131/197, compared to $3,598 in Honduras, ranking 137/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while Honduras ranks 146th at $7,486.

Economic indicators

Eswatini Honduras
Gross domestic product
$5.16B
2025
$39.6B
2025
GDP rank
163/197
2025
104/197
2025
GDP growth
4.19%
2024-2025
3.75%
2024-2025
GDP per capita
$4,108
2025
$3,598
2025
GDP per capita rank
131/197
2025
137/197
2025
GDP per capita, PPP
$11,799
2024
$7,486
2024
GDP per capita PPP rank
126/197
2024
146/197
2024
Government debt
$2.31B
2025
$16.3B
2025
Debt-to-GDP ratio
44.9%
2025
41.2%
2025
Government debt per person
$1,843
2025
$1,483
2025
Government debt per person rank
121/185
2025
132/185
2025
Average annual personal income after taxes
$4,770
2026
$2,887
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
32.3%
2024
Income share by poorest 10%
1.4%
2016
1.2%
2024
Government expenditure, % of GDP
35.7%
2025
24.9%
2025
Consumer prices inflation
2.6%
2018-2019
4.6%
2024-2025
Central bank interest rate
6.75%
2025
5.75%
2024
Unemployment rate
34.3%
2023
4.85%
2025
Population
1276995
11279259

Spending and national debt comparison by year

Eswatini
Spending

Debt
Honduras
Spending

Debt
1x
Year % of GDP
Eswatini Honduras
Government spending Government debt Government spending Government debt
2025 35.7% 44.9% 24.9% 41.2%
2024 33.6% 40.1% 25.7% 41.5%
2023 31.5% 39.4% 27.2% 41.7%
2022 28.9% 39.5% 24% 46.9%
2021 29.3% 37.3% 28.8% 52.7%
2020 32.2% 37.7% 28.4% 53.5%
2019 32.8% 30.5% 25.9% 43.3%
2018 31.6% 26.5% 26.2% 42.4%
2017 33.6% 21.7% 26.9% 41.3%
2016 34% 20.1% 27.4% 39.4%
2015 34.5% 16% 26% 38.3%
2014 32.7% 14.1% 26.4% 35.2%
2013 28.8% 15.2% 28% 37.3%
2012 27.1% 14.8% 26.4% 27.1%
2011 25.1% 14.6% 25.9% 24.6%
2010 31.1% 14.2% 26.5% 21.8%
2009 33.9% 10.6% 28.4% 23.8%
2008 33.4% 14.6% 26.4% 22.3%
2007 30.4% 16.1% 24.4% 24%
2006 27.6% 14.7% 24.4% 39.2%
2005 29% 13.6% 23.6% 55.6%
2004 31% 15% 25.5% 60.9%
2003 25.9% 17.7% 26.4% 67.8%
2002 26.5% 17.2% 26.8% 64.2%
2001 25.6% 21.7% 25.1% 63.4%
2000 24.7% 18.2% 22.1% 65.8%
1999 25.8% 16.7% 23.3% 75.8%
1998 22% 15.6% 19.4% 67.4%
1997 20.7% 12.7% 19.4% 70.8%
1996 22.5% 11.5% 18.7% 64.6%
1995 19.9% 12.5% 17.2% 65.4%
1994 23.4% 13.1% 19% 85.5%
1993 23% 15% 24.5% 111.7%
1992 24.7% 16.6% 21.6% 123.2%
1991 19.6% 20.1% 20.8% 135.4%
1990 18.2% 20.4% 19.4% 236.5%
1989 15.8% 26.8% 10.2% 68.4%
1988 15.6% 27.5% 16% 71.7%
1987 17% 36.1% 17.2% 73.6%
1986 19.8% 44% 19.8% 69.9%
1985 22.3% 45.5% 22.5% 65.7%
1984 22.2% 29.7% 22.4% 60.5%
1983 23.2% 28.7% 20.8% 57.6%
1982 24% 29.2% 18.7% 54.3%
1981 23.8% 24.3% 15.3% 48.1%
1980 19.6% 27.2% 16.2% 41%
1979 - - 14.4% 36.1%
1978 - - 13.1% 32.8%
1977 - - 14.6% 28.2%
1976 - - 11.5% 26.5%
1975 - - 11.9% 24%
1974 - - 11.7% 18.5%
1973 - - 11.1% 16.6%
1972 - - 12.6% 16.8%
1971 - - 15.2% 19.8%
1970 - - 15.2% 17.2%
1969 - - 13.6% 13%
1968 - - 11.6% 9.75%
1967 - - 11.4% 9.72%
1966 - - 11.4% 9.47%
1965 - - 10.6% 8.97%
1964 - - 11.4% 9.78%
1963 - - 10.1% 9.02%
1962 - - 10.5% 8.54%
1961 - - 11.2% 8.22%
1960 - - 12.2% 8.97%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1992, retrieved 2026-07-08).

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

In 2025, Eswatini's government spending was $1.84B, accounting for 35.7% of its GDP, while Honduras spent $9.87B, or 24.9% of GDP.

Debt-to-GDP ratio is 44.9% in Eswatini and 41.2% in Honduras, ranking 118/185 and 128/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

Honduras
1x
Year Deficit/surplus, % of GDP
Eswatini Honduras
2025 -6.14% -0.74%
2024 -1.06% -1.12%
2023 -0.66% -1.96%
2022 -5.27% 1.57%
2021 -4.55% -3.17%
2020 -4.21% -4.58%
2019 -6.23% 0.09%
2018 -6.59% 0.2%
2017 -5.64% -0.41%
2016 -8.36% -0.4%
2015 -5.89% -0.78%
2014 -1.16% -2.81%
2013 0.57% -5.48%
2012 3.39% -3.48%
2011 -3.88% -2.94%
2010 -9.34% -3.37%
2009 -3% -4.86%
2008 1.58% -0.27%
2007 2.37% -0.25%
2006 8.67% -1.36%
2005 -1.66% -0.03%
2004 -3.97% -2.48%
2003 -2.11% -5.09%
2002 -3.69% -5.02%
2001 -2.24% -3.12%
2000 -1.19% 1.51%
1999 -1.23% 1.38%
1998 1.05% 2.89%
1997 2.06% 0.08%
1996 -0.97% 0.13%
1995 0.87% -0.24%
1994 -3.43% -0.97%
1993 -3.15% -5.21%
1992 -2.76% -1.49%
1991 3.28% -2.16%
1990 5.47% -2.15%
1989 5.82% 2.08%
1988 3.23% -2.65%
1987 2.03% -3.23%
1986 -2.41% -5.92%
1985 -1.33% -8.58%
1984 1.25% -9.33%
1983 -0.6% -9.1%
1982 0.11% -6.17%
1981 -4.29% -2.5%
1980 6.55% -2.52%
1979 - -1.55%
1978 - -0.68%
1977 - -2.55%
1976 - -0.93%
1975 - -1.78%
1974 - -0.27%
1973 - -0.71%
1972 - -2.37%
1971 - -3.51%
1970 - -3.24%
1969 - -2.16%
1968 - -0.38%
1967 - -0.73%
1966 - -0.45%
1965 - 0.19%
1964 - -1.77%
1963 - -0.39%
1962 - -0.71%
1961 - -1.05%
1960 - -1.22%
1959 - -1.31%
1958 - -1.16%
1957 - -1.01%
1956 - -1.81%
1955 - -0.42%
1954 - -2.91%
1953 - -2.96%
1952 - -3.21%
1951 - -1.04%
1950 - -0.44%
1949 - -1.92%
1948 - 0.52%
1947 - -0.83%
1946 - 0.32%
1945 - 0%
1944 - -0.82%
1943 - -0.48%
1942 - 0%
1941 - -0.26%
1940 - -0.43%
1939 - -0.52%
1938 - -0.74%
1937 - -1.37%
1936 - -0.76%
1935 - 0%
1934 - 0.06%
1933 - 2.06%
1932 - -2.13%
1931 - -0.94%
1930 - -1.15%
1929 - -0.38%
1928 - 0.72%
1927 - 0.37%

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1927–1989, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/eswatini/honduras | 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 Honduras' deficit of $295M, or 0.74% of GDP.

Over the past 46 years, Eswatini recorded a fiscal deficit in 30 of those years, while Honduras ran a deficit in 37 years. On average, Eswatini posted an annual deficit equal to 1.28% of GDP, compared to deficit of 2.31% of GDP for Honduras.

Inflation comparison by year

Inflation
Eswatini

Honduras
1x
Year Consumer prices inflation
Eswatini Honduras
2025 - 4.6%
2024 - 4.61%
2023 - 6.66%
2022 - 9.09%
2021 - 4.48%
2020 - 3.47%
2019 2.6% 4.37%
2018 4.82% 4.35%
2017 6.22% 3.93%
2016 7.85% 2.72%
2015 4.95% 3.16%
2014 5.68% 6.13%
2013 5.62% 5.16%
2012 8.94% 5.2%
2011 6.11% 6.76%
2010 4.51% 4.7%
2009 7.45% 5.5%
2008 12.7% 11.4%
2007 8.08% 6.94%
2006 5.3% 5.58%
2005 4.77% 8.81%
2004 3.45% 8.11%
2003 7.29% 7.67%
2002 12% 7.69%
2001 5.94% 9.67%
2000 12.2% 11%
1999 6.09% 11.7%
1998 8.11% 13.7%
1997 7.13% 20.2%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 23 years, Eswatini has recorded an average annual inflation rate of 6.86%, compared with 7.58% in Honduras. In 2019, inflation was 2.6% in Eswatini and 4.6% in Honduras.

Balance of trade

Eswatini Honduras
Current account balance
$78.3M
2024
$936M
2025
Current account balance ranking
65/190
2024
50/190
2025
Current account balance, % of GDP
+1.61%
2024
+2.36%
2025
Goods imports
$2.07B
2024
$15.4B
2025
Goods exports
$2.33B
2024
$6.88B
2025
Service imports
$542M
2024
$4.1B
2025
Service exports
$234M
2024
$3.89B
2025
Imports of goods and services, % of GDP
53.7%
2024
56.5%
2025
Exports of goods and services, % of GDP
53.8%
2024
35%
2025

Economic freedom indices

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

Eswatini Honduras
Economic freedom 57.5 59.1
Economic freedom ranking 116/197 105/197
Property rights 42.5 35.7
Government integrity 29.7 24.6
Judicial effectiveness 35.5 27.6
Tax burden 78.6 83.1
Government spending 71 80.3
Fiscal health 87.5 95.2
Business freedom 49.9 59.4
Labor freedom 55.2 37.9
Monetary freedom 76.8 70.1
Trade freedom 73.6 69.8
Investment freedom 50 65
Financial freedom 40 60

Economic freedom comparison by year

Eswatini
Honduras
1x
Year Economic freedom index
Eswatini Honduras
2026 57.5 59.1
2025 56.4 59.6
2024 55.6 58.6
2023 54.9 58.7
2022 51.4 59.5
2021 55.1 59.8
2020 55.3 61.1
2019 54.7 60.2
2018 55.9 60.6
2017 61.1 58.8
2016 59.7 57.7
2015 59.9 57.4
2014 61.2 57.1
2013 57.2 58.4
2012 57.2 58.8
2011 59.1 58.6
2010 57.4 58.3
2009 59.1 58.7
2008 58.4 58.9
2007 60.1 59.1
2006 61.4 57.4
2005 59.4 55.3
2004 58.6 55.3
2003 59.6 60.4
2002 60.9 58.7
2001 63.6 57
2000 62.6 57.6
1999 62.1 56.7
1998 62 56.2
1997 59.4 56
1996 58.6 56.6
1995 63.3 57

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

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

The Economic Freedom Index for Eswatini is 57.5, ranking 116/197, compared to 59.1 for Honduras, ranking 105/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eswatini Honduras
Services, % of GDP
52.4%
2025
57.6%
2025
Industry, % of GDP
33.6%
2025
25.4%
2025
Agriculture, forestry, and fishing, % of GDP
6.41%
2025
13.3%
2025
GNI, Atlas method
$4.69B
2025
$36B
2025
GNI per capita, PPP
$11,390
2025
$7,270
2025
Total reserves including gold
$537M
2024
$10.2B
2025
Total reserves ranking
157/177
2024
78/177
2025
Net foreign direct investment
-$11.8M
2024
-$810M
2025
Net inflows of foreign direct investment
$75.5M
2024
$478M
2024
Net outflows of foreign direct investment
$63.8M
2024
-$49.4M
2024
Servicing debt to the IMF, % of GNI
4.88%
2024
5.23%
2024
Poverty at national poverty lines
58.9%
2016
60.1%
2025
Gross capital formation, % of GDP
15%
2024
24.2%
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/honduras | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1927–1992, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, 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.