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Economy of Eswatini vs Hungary compared: GDP & Debt

Updated on by Georank team

Eswatini has a GDP of $4.86B compared to $223B for Hungary, ranking 162/197 and 55/197 by economy size, respectively.

Eswatini has $1.93B in government debt (39.8% of GDP), compared to $164B (73.5% of GDP) in Hungary.

Eswatini vs Hungary GDP by year

Eswatini
Hungary
1x
Year GDP, current $
Eswatini Hungary
2024 $4,858,885,841 $222,722,738,926
2023 $4,621,191,262 $213,240,316,635
2022 $4,746,660,274 $177,002,580,544
2021 $4,807,069,277 $183,282,685,440
2020 $4,134,677,810 $158,468,487,754
2019 $4,617,018,959 $164,936,682,034
2018 $4,643,751,059 $161,184,691,014
2017 $4,462,640,651 $143,335,098,992
2016 $3,722,306,117 $128,983,560,865
2015 $3,908,217,914 $125,244,126,623
2014 $4,285,065,665 $141,128,696,412
2013 $4,463,396,204 $135,646,053,779
2012 $4,747,813,067 $128,470,269,690
2011 $4,722,912,047 $141,712,804,954
2010 $4,360,714,359 $131,898,737,241
2009 $3,525,213,502 $130,807,441,076
2008 $3,235,921,171 $158,228,265,916
2007 $3,391,122,887 $140,123,326,896
2006 $3,215,307,901 $115,604,111,412
2005 $3,097,946,371 $113,098,237,571
2004 $2,710,331,785 $104,015,363,080
2003 $2,149,632,433 $85,190,469,121
2002 $1,393,945,031 $67,636,468,625
2001 $1,502,870,486 $53,800,068,066
2000 $1,697,161,558 $47,275,954,429
1999 $1,547,888,496 $49,160,204,397
1998 $1,576,908,856 $48,784,412,624
1997 $1,716,714,070 $47,398,564,799
1996 $1,602,741,834 $46,833,767,124
1995 $1,698,989,464 $46,577,614,589
1994 $1,419,294,254 $43,307,949,890
1993 $1,357,189,552 $40,256,233,360
1992 $1,284,759,928 $38,857,339,125
1991 $1,156,135,718 $34,867,307,353
1990 $1,114,694,041 $34,478,360,679
1989 $696,921,542 $30,422,508,938
1988 $692,026,455 $29,799,838,597
1987 $584,126,092 $27,232,016,527
1986 $449,140,318 $24,778,163,812
1985 $360,079,419 $21,510,643,750
1984 $494,483,409 $21,242,726,264
1983 $555,336,146 $21,910,365,258
1982 $537,568,059 $24,141,667,188
1981 $570,774,825 $23,705,883,892
1980 $541,976,853 $23,116,977,148
1979 $412,093,134 $19,959,731,325
1978 $340,630,085 $17,286,744,154
1977 $304,060,076 $14,783,674,055
1976 $272,550,068 $13,235,612,079
1975 $288,299,789 $11,420,392,515
1974 $264,320,941 $10,016,338,179
1973 $221,915,128 $9,138,292,402
1972 $146,736,479 $7,379,313,742
1971 $136,462,081 $6,291,568,221
1970 $112,139,955 $5,780,929,203
1969 $105,419,958 $5,429,812,387
1968 $79,799,968 $4,886,222,555
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 (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Eswatini vs Hungary by year

Eswatini
GDP per capita

GDP per capita, PPP
Hungary
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini Hungary
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $3,910 $11,799 $23,292 $48,552
2023 $3,756 $11,300 $22,231 $46,592
2022 $3,894 $10,635 $18,428 $44,366
2021 $3,984 $9,990 $19,031 $38,887
2020 $3,467 $9,329 $16,387 $35,584
2019 $3,913 $9,248 $17,013 $35,627
2018 $3,973 $8,535 $16,605 $32,258
2017 $3,853 $8,584 $14,736 $29,728
2016 $3,238 $8,484 $13,216 $28,179
2015 $3,420 $8,391 $12,783 $26,938
2014 $3,771 $8,366 $14,353 $25,796
2013 $3,950 $8,231 $13,739 $24,592
2012 $4,225 $7,760 $12,950 $23,205
2011 $4,225 $7,571 $14,211 $22,992
2010 $3,923 $7,324 $13,190 $21,691
2009 $3,190 $7,011 $13,051 $20,691
2008 $2,947 $6,914 $15,763 $20,709
2007 $3,109 $6,732 $13,935 $19,089
2006 $2,965 $6,319 $11,478 $18,362
2005 $2,871 $5,773 $11,212 $17,091
2004 $2,526 $5,310 $10,291 $16,251
2003 $2,015 $5,020 $8,410 $15,460
2002 $1,316 $4,742 $6,658 $14,532
2001 $1,430 $4,521 $5,281 $13,223
2000 $1,630 $4,401 $4,630 $11,872
1999 $1,502 $4,272 $4,802 $10,892
1998 $1,547 $4,137 $4,752 $10,415
1997 $1,705 $4,038 $4,606 $9,846
1996 $1,619 $3,916 $4,542 $9,388
1995 $1,751 $3,777 $4,509 $9,222
1994 $1,461 $3,526 $4,187 $8,888
1993 $1,397 $3,371 $3,887 $8,441
1992 $1,362 $3,289 $3,747 $8,284
1991 $1,273 $3,236 $3,361 $8,352
1990 $1,278 $3,202 $3,324 $9,169
1989 $832 - $2,902 -
1988 $865 - $2,812 -
1987 $765 - $2,566 -
1986 $611 - $2,331 -
1985 $510 - $2,020 -
1984 $726 - $1,991 -
1983 $843 - $2,050 -
1982 $843 - $2,255 -
1981 $925 - $2,213 -
1980 $908 - $2,158 -
1979 $714 - $1,865 -
1978 $610 - $1,618 -
1977 $563 - $1,388 -
1976 $521 - $1,249 -
1975 $568 - $1,083 -
1974 $536 - $956 -
1973 $463 - $876 -
1972 $315 - $710 -
1971 $301 - $607 -
1970 $254.2 - $559 -
1969 $245.2 - $527 -
1968 $190.4 - $476 -
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 (1960–2024, retrieved 2026-04-06).

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

Eswatini's GDP per capita is $3,910, ranking 131/197, compared to $23,292 in Hungary, ranking 55/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while Hungary ranks 48th at $48,552.

Economic indicators

Eswatini Hungary
Gross domestic product
$4.86B
2024
$223B
2024
GDP rank
162/197
2024
55/197
2024
GDP growth
2.97%
2023-2024
0.56%
2023-2024
GDP per capita
$3,910
2024
$23,292
2024
GDP per capita rank
131/197
2024
55/197
2024
GDP per capita, PPP
$11,799
2024
$48,552
2024
GDP per capita PPP rank
126/197
2024
48/197
2024
Government debt
$1.93B
2024
$164B
2024
Debt-to-GDP ratio
39.8%
2024
73.5%
2024
Government debt per person
$1,554
2024
$17,109
2024
Government debt per person rank
130/185
2024
37/185
2024
Average annual personal income after taxes
$3,913
2026
$16,996
2026
Market capitalization of domestic companies
$234M
2007
$41.5B
2024
Number of millionaires n/a
24,692
2025
Number of billionaires
1
2025
4
2025
Income share by richest 10%
42.7%
2016
24.4%
2022
Income share by poorest 10%
1.4%
2016
2.8%
2022
Government expenditure, % of GDP
33.3%
2024
46.9%
2024
Consumer prices inflation
2.6%
2018-2019
3.7%
2023-2024
Central bank interest rate
6.75%
2025
6.5%
2024
Unemployment rate
34.6%
2023
4.47%
2024
Population
1273390
9475525

Spending and national debt comparison by year

Eswatini
Spending

Debt
Hungary
Spending

Debt
1x
Year % of GDP
Eswatini Hungary
Government spending Government debt Government spending Government debt
2024 33.3% 39.8% 46.9% 73.5%
2023 32% 40% 49.2% 73%
2022 29.6% 40.5% 48.7% 73.9%
2021 30.1% 38.4% 48.1% 76.2%
2020 32.7% 38.2% 51% 78.7%
2019 32.9% 30.7% 45.8% 65%
2018 32.2% 27% 45.9% 68.8%
2017 33.9% 21.9% 46.6% 72%
2016 34.7% 20.5% 46.7% 74.6%
2015 35.3% 16.4% 50.4% 75.7%
2014 33.3% 14.3% 50% 76.5%
2013 29.4% 15.5% 50.1% 77.2%
2012 27.8% 15.2% 49.2% 78.4%
2011 26% 15.1% 49.1% 80.5%
2010 31.6% 14.5% 48.9% 80.2%
2009 34.5% 10.8% 50.7% 78.2%
2008 34.4% 15% 48.8% 71.8%
2007 31.2% 16.6% 49.9% 65.6%
2006 28.2% 15% 51.4% 64.5%
2005 29.7% 13.9% 49.4% 60.6%
2004 32% 15.5% 48.8% 58.9%
2003 26.4% 18% 49.2% 58.2%
2002 27.2% 17.6% 51% 55.6%
2001 26.4% 22.4% 47.2% 52.2%
2000 25.3% 18.7% 47.3% 55.6%
1999 26.5% 17.2% 48.9% 60.3%
1998 22.5% 15.9% 50.7% 60.4%
1997 21.2% 13% 49.5% 62.2%
1996 23.3% 12% 50.9% 71.2%
1995 20.5% 12.9% 55% 83.9%
1994 24.7% 13.8% - 86.2%
1993 24% 15.6% - 87.2%
1992 26% 16.6% - 76.5%
1991 20.3% 20.1% - 74.2%
1990 18.7% 20.4% - 63.7%
1989 15.8% 26.8% - 70.7%
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1994, retrieved 2026-02-20).

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

In 2024, Eswatini's government spending was $1.62B, accounting for 33.3% of its GDP, while Hungary spent $104B, or 46.9% of GDP.

Debt-to-GDP ratio is 39.8% in Eswatini and 73.5% in Hungary, ranking 134/185 and 49/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

Hungary
1x
Year Deficit/surplus, % of GDP
Eswatini Hungary
2024 -1.36% -4.92%
2023 -0.67% -6.75%
2022 -5.4% -6.17%
2021 -4.68% -7.11%
2020 -4.27% -7.49%
2019 -6.26% -2.02%
2018 -6.72% -2.05%
2017 -5.68% -2.45%
2016 -8.54% -1.79%
2015 -6.03% -2%
2014 -1.18% -2.77%
2013 0.59% -2.6%
2012 3.48% -2.33%
2011 -4.02% -5.22%
2010 -9.52% -4.44%
2009 -3.06% -4.76%
2008 1.63% -3.78%
2007 2.44% -5.09%
2006 8.88% -9.27%
2005 -1.7% -7.79%
2004 -4.1% -6.6%
2003 -2.15% -7.19%
2002 -3.78% -8.79%
2001 -2.31% -4%
2000 -1.22% -3.04%
1999 -1.27% -5.27%
1998 1.07% -7.41%
1997 2.11% -5.54%
1996 -1% -4.36%
1995 0.9% -8.57%
1994 -3.61% -
1993 -3.29% -
1992 -2.9% -
1991 3.4% -
1990 5.61% -
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% -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -0.17%
1942 - 0.31%
1941 - 0.2%
1940 - -0.07%
1939 - 0.19%
1938 - -0.11%
1937 - -0.01%
1936 - 0.08%
1935 - 0.03%
1934 - 0.04%
1933 - -0.03%
1932 - -0.22%
1931 - -0.32%
1930 - -0.26%
1929 - 0.02%
1928 - 0.12%
1927 - 0.15%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1927–1989, retrieved 2026-02-20).

GeoRank.org/economy/eswatini/hungary | 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 Hungary's deficit of $10.9B, or 4.92% of GDP.

Over the past 30 years, Eswatini recorded a fiscal deficit in 22 of those years, while Hungary ran a deficit in 30 years. On average, Eswatini posted an annual deficit equal to 2.13% of GDP, compared to deficit of 5.05% of GDP for Hungary.

Inflation comparison by year

Inflation
Eswatini

Hungary
1x
Year Consumer prices inflation
Eswatini Hungary
2024 - 3.7%
2023 - 17.1%
2022 - 14.6%
2021 - 5.11%
2020 - 3.33%
2019 2.6% 3.34%
2018 4.82% 2.85%
2017 6.22% 2.35%
2016 7.85% 0.39%
2015 4.95% -0.06%
2014 5.68% -0.23%
2013 5.62% 1.73%
2012 8.94% 5.65%
2011 6.11% 3.93%
2010 4.51% 4.86%
2009 7.45% 4.21%
2008 12.7% 6.04%
2007 8.08% 7.96%
2006 5.3% 3.93%
2005 4.77% 3.56%
2004 3.45% 6.74%
2003 7.29% 4.66%
2002 12% 5.27%
2001 5.94% 9.12%
2000 12.2% 9.8%
1999 6.09% 10%
1998 8.11% 14.2%
1997 7.13% 18.3%

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

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

Over the past 23 years, Eswatini has recorded an average annual inflation rate of 6.86%, compared with 5.59% in Hungary. In 2019, inflation was 2.6% in Eswatini and 3.7% in Hungary.

Top exports between countries

Eswatini
Export category Export value
Machinery & equipment $43K
Processed food, beverages & tobacco $13K
Chemicals & pharma $3K
Precious metals & jewellery $1K
Hungary
Export category Export value
Textiles & consumer goods $23K
Machinery & equipment $14K
Chemicals & pharma $11K

Balance of trade

Eswatini Hungary
Current account balance
$78.3M
2024
$3.52B
2024
Current account balance ranking
69/190
2024
36/190
2024
Current account balance, % of GDP
+1.61%
2024
+1.58%
2024
Goods imports
$2.07B
2024
$130B
2024
Goods exports
$2.33B
2024
$129B
2024
Service imports
$542M
2024
$27.9B
2024
Service exports
$234M
2024
$38.9B
2024
Imports of goods and services, % of GDP
53.7%
2024
71.1%
2024
Exports of goods and services, % of GDP
53.8%
2024
75.4%
2024

Economic freedom indices

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

Eswatini Hungary
Economic freedom 57.5 62.5
Economic freedom ranking 116/197 86/197
Property rights 42.5 67.3
Government integrity 29.7 44
Judicial effectiveness 35.5 61.9
Tax burden 78.6 85.1
Government spending 71 30.2
Fiscal health 87.5 32.7
Business freedom 49.9 70.8
Labor freedom 55.2 56.5
Monetary freedom 76.8 72.1
Trade freedom 73.6 79.4
Investment freedom 50 80
Financial freedom 40 70

Economic freedom comparison by year

Eswatini
Hungary
1x
Year Economic freedom index
Eswatini Hungary
2026 57.5 62.5
2025 56.4 61.4
2024 55.6 61.2
2023 54.9 64.1
2022 51.4 66.9
2021 55.1 67.2
2020 55.3 66.4
2019 54.7 65
2018 55.9 66.7
2017 61.1 65.8
2016 59.7 66
2015 59.9 66.8
2014 61.2 67
2013 57.2 67.3
2012 57.2 67.1
2011 59.1 66.6
2010 57.4 66.1
2009 59.1 66.8
2008 58.4 67.6
2007 60.1 64.8
2006 61.4 65
2005 59.4 63.5
2004 58.6 62.7
2003 59.6 63
2002 60.9 64.5
2001 63.6 65.6
2000 62.6 64.4
1999 62.1 59.6
1998 62 56.9
1997 59.4 55.3
1996 58.6 56.8
1995 63.3 55.2

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

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

The Economic Freedom Index for Eswatini is 57.5, ranking 116/197, compared to 62.5 for Hungary, ranking 86/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eswatini Hungary
Services, % of GDP
51.4%
2024
59.5%
2024
Industry, % of GDP
34.7%
2024
23.7%
2024
Agriculture, forestry, and fishing, % of GDP
6.48%
2024
2.71%
2024
GNI, Atlas method
$4.46B
2024
$199B
2024
GNI per capita, PPP
$10,760
2024
$47,290
2024
Total reserves including gold
$479M
2023
$46.4B
2024
Total reserves ranking
159/177
2023
42/177
2024
Net foreign direct investment
-$11.8M
2024
-$15.8B
2024
Net inflows of foreign direct investment
$75.5M
2024
-$62.2B
2024
Net outflows of foreign direct investment
$63.8M
2024
-$78B
2024
Servicing debt to the IMF, % of GNI
4.68%
2024
n/a
Poverty at national poverty lines
58.9%
2016
12.1%
2021
Gross capital formation, % of GDP
15%
2024
23.5%
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/hungary | 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 (1927–1994, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2020–2023, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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.