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Economy of Eswatini vs Iran compared: GDP & Debt

Updated on by Georank

Eswatini has a GDP of $5.16B compared to $363B for Iran, ranking 163/197 and 44/197 by economy size, respectively.

Eswatini has $2.31B in government debt (44.9% of GDP), compared to $135B (37.3% of GDP) in Iran.

Eswatini vs Iran GDP by year

Eswatini
Iran
1x
Year GDP, current $
Eswatini Iran
2025 $5,160,679,613 $362,682,115,433
2024 $4,858,885,841 $475,252,089,215
2023 $4,621,191,262 $457,510,482,317
2022 $4,746,660,274 $422,662,261,526
2021 $4,807,069,277 $407,350,685,583
2020 $4,134,677,810 $280,934,329,280
2019 $4,617,018,959 $347,988,400,958
2018 $4,643,751,059 $411,903,303,606
2017 $4,462,640,651 $510,239,893,418
2016 $3,722,306,117 $478,618,064,871
2015 $3,908,217,914 $409,191,686,497
2014 $4,285,065,665 $462,284,793,281
2013 $4,463,396,204 $500,399,839,840
2012 $4,747,813,067 $644,019,315,004
2011 $4,722,912,047 $629,082,257,472
2010 $4,360,714,359 $487,069,570,464
2009 $3,525,213,502 $414,059,094,949
2008 $3,235,921,171 $406,070,949,554
2007 $3,391,122,887 $349,736,591,832
2006 $3,215,307,901 $265,602,187,404
2005 $3,097,946,371 $224,970,371,325
2004 $2,710,331,785 $187,754,571,248
2003 $2,149,632,433 $151,911,222,119
2002 $1,393,945,031 $128,626,917,504
2001 $1,502,870,486 $126,878,750,296
2000 $1,697,161,558 $109,591,707,802
1999 $1,547,888,496 $113,848,450,088
1998 $1,576,908,856 $110,276,913,363
1997 $1,716,714,070 $113,919,163,421
1996 $1,602,741,834 $120,403,931,885
1995 $1,698,989,464 $96,419,225,744
1994 $1,419,294,254 $71,841,461,173
1993 $1,357,189,552 $63,743,623,232
1992 $1,284,759,928 $119,768,691,217
1991 $1,156,135,718 $131,637,664,958
1990 $1,114,694,041 $124,813,263,926
1989 $696,921,542 $120,496,362,916
1988 $692,026,455 $123,057,861,334
1987 $584,126,092 $134,009,995,923
1986 $449,140,318 $209,094,561,833
1985 $360,079,419 $180,183,629,600
1984 $494,483,409 $162,276,728,620
1983 $555,336,146 $156,365,156,618
1982 $537,568,059 $125,948,756,439
1981 $570,774,825 $100,499,312,750
1980 $541,976,853 $94,362,275,580
1979 $412,093,134 $90,391,877,326
1978 $340,630,085 $77,994,316,621
1977 $304,060,076 $80,600,122,702
1976 $272,550,068 $68,055,295,081
1975 $288,299,789 $51,776,222,350
1974 $264,320,941 $46,209,092,072
1973 $221,915,128 $27,081,698,250
1972 $146,736,479 $17,153,463,263
1971 $136,462,081 $13,731,802,833
1970 $112,139,955 $10,976,245,154
1969 $105,419,958 $9,743,089,607
1968 $79,799,968 $8,623,172,960
1967 $74,759,970 $7,555,383,690
1966 $76,859,969 $6,789,938,672
1965 $70,279,972 $6,197,319,929
1964 $64,980,554 $5,379,845,648
1963 $54,129,438 $4,928,628,018
1962 $45,927,962 $4,693,566,416
1961 $43,026,043 $4,426,949,095
1960 $35,076,846 $4,199,134,390

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

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

GDP per capita in Eswatini vs Iran by year

Eswatini
GDP per capita

GDP per capita, PPP
Iran
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini Iran
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $4,108 - $3,924 -
2024 $3,910 $11,799 $5,190 $19,874
2023 $3,756 $11,300 $5,049 $18,917
2022 $3,894 $10,635 $4,721 $17,546
2021 $3,984 $9,990 $4,605 $15,884
2020 $3,467 $9,329 $3,203 $15,119
2019 $3,913 $9,248 $3,997 $13,928
2018 $3,973 $8,535 $4,783 $15,324
2017 $3,853 $8,584 $6,001 $15,719
2016 $3,238 $8,484 $5,711 $15,195
2015 $3,420 $8,391 $4,953 $14,274
2014 $3,771 $8,366 $5,672 $16,065
2013 $3,950 $8,231 $6,223 $16,215
2012 $4,225 $7,760 $8,114 $17,021
2011 $4,225 $7,571 $8,026 $19,275
2010 $3,923 $7,324 $6,291 $18,628
2009 $3,190 $7,011 $5,416 $17,615
2008 $2,947 $6,914 $5,377 $17,549
2007 $3,109 $6,732 $4,688 $17,384
2006 $2,965 $6,319 $3,619 $15,907
2005 $2,871 $5,773 $3,132 $15,016
2004 $2,526 $5,310 $2,672 $14,425
2003 $2,015 $5,020 $2,209 $13,755
2002 $1,316 $4,742 $1,891 $12,554
2001 $1,430 $4,521 $1,881 $11,533
2000 $1,630 $4,401 $1,650 $11,187
1999 $1,502 $4,272 $1,740 $10,489
1998 $1,547 $4,137 $1,709 $10,285
1997 $1,705 $4,038 $1,790 $10,101
1996 $1,619 $3,916 $1,915 $9,916
1995 $1,751 $3,777 $1,550 $9,255
1994 $1,461 $3,526 $1,168 $8,951
1993 $1,397 $3,371 $1,038 $8,933
1992 $1,362 $3,289 $1,957 $8,888
1991 $1,273 $3,236 $2,194 $8,580
1990 $1,278 $3,202 $2,138 $7,566
1989 $832 - $2,125 -
1988 $865 - $2,234 -
1987 $765 - $2,513 -
1986 $611 - $4,064 -
1985 $510 - $3,634 -
1984 $726 - $3,395 -
1983 $843 - $3,397 -
1982 $843 - $2,845 -
1981 $925 - $2,393 -
1980 $908 - $2,368 -
1979 $714 - $2,352 -
1978 $610 - $2,101 -
1977 $563 - $2,243 -
1976 $521 - $1,954 -
1975 $568 - $1,532 -
1974 $536 - $1,409 -
1973 $463 - $851 -
1972 $315 - $555 -
1971 $301 - $457 -
1970 $254.2 - $377 -
1969 $245.2 - $345 -
1968 $190.4 - $314 -
1967 $182.8 - $283.7 -
1966 $192.7 - $262.9 -
1965 $181 - $247.5 -
1964 $171.6 - $221.7 -
1963 $146.4 - $209.6 -
1962 $127.1 - $205.8 -
1961 $121.8 - $200.1 -
1960 $101.6 - $195.6 -

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

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

Eswatini's GDP per capita is $4,108, ranking 131/197, compared to $3,924 in Iran, ranking 135/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while Iran ranks 97th at $19,874.

Economic indicators

Eswatini Iran
Gross domestic product
$5.16B
2025
$363B
2025
GDP rank
163/197
2025
44/197
2025
GDP growth
4.19%
2024-2025
-2.83%
2024-2025
GDP per capita
$4,108
2025
$3,924
2025
GDP per capita rank
131/197
2025
135/197
2025
GDP per capita, PPP
$11,799
2024
$19,874
2024
GDP per capita PPP rank
126/197
2024
97/197
2024
Government debt
$2.31B
2025
$135B
2025
Debt-to-GDP ratio
44.9%
2025
37.3%
2025
Government debt per person
$1,843
2025
$1,463
2025
Government debt per person rank
121/185
2025
133/185
2025
Average annual personal income after taxes
$4,770
2026
$2,958
2026
Market capitalization of domestic companies
$234M
2007
$186B
2025
Number of billionaires
1
2026
n/a
Income share by richest 10%
42.7%
2016
28.2%
2023
Income share by poorest 10%
1.4%
2016
2.8%
2023
Government expenditure, % of GDP
35.7%
2025
13.4%
2025
Consumer prices inflation
2.6%
2018-2019
42.2%
2024-2025
Central bank interest rate
6.75%
2025
23%
2023
Unemployment rate
34.3%
2023
7.63%
2024
Population
1276995
93580141

Spending and national debt comparison by year

Eswatini
Spending

Debt
Iran
Spending

Debt
1x
Year % of GDP
Eswatini Iran
Government spending Government debt Government spending Government debt
2025 35.7% 44.9% 13.4% 37.3%
2024 33.6% 40.1% 16% 31.2%
2023 31.5% 39.4% 12.8% 29.6%
2022 28.9% 39.5% 12.8% 34.5%
2021 29.3% 37.3% 13.4% 39.9%
2020 32.2% 37.7% 12.1% 47.1%
2019 32.8% 30.5% 13.6% 44.6%
2018 31.6% 26.5% 14.8% 41.6%
2017 33.6% 21.7% 16.4% 43.2%
2016 34% 20.1% 16.3% 45.9%
2015 34.5% 16% 14.1% 32.1%
2014 32.7% 14.1% 12.3% 10.9%
2013 28.8% 15.2% 11.5% 10.2%
2012 27.1% 14.8% 11.4% 11.7%
2011 25.1% 14.6% 14.6% 10.6%
2010 31.1% 14.2% 14.1% 12.8%
2009 33.9% 10.6% 15.7% 11.5%
2008 33.4% 14.6% 16.8% 10.6%
2007 30.4% 16.1% 14.2% 13.5%
2006 27.6% 14.7% 18.7% 15.2%
2005 29% 13.6% 17.9% 18.3%
2004 31% 15% 15.1% 21.1%
2003 25.9% 17.7% 15.7% 21.9%
2002 26.5% 17.2% 15.6% 23.4%
2001 25.6% 21.7% 13.6% 21%
2000 24.7% 18.2% 13.3% 18.2%
1999 25.8% 16.7% 15.7% 22.2%
1998 22% 15.6% 16.9% 29.6%
1997 20.7% 12.7% 17.4% 30.9%
1996 22.5% 11.5% 17.3% 29.3%
1995 19.9% 12.5% 21% 31.2%
1994 23.4% 13.1% 23% 41.7%
1993 23% 15% 27.2% 25.6%
1992 24.7% 16.6% 14.4% 25.2%
1991 19.6% 20.1% 14% 29.3%
1990 18.2% 20.4% 16.4% 37%
1989 15.8% 26.8% 20% 48.8%
1988 15.6% 27.5% 23.6% 53.2%
1987 17% 36.1% 18.6% 48.6%
1986 19.8% 44% 19% 47.4%
1985 22.3% 45.5% 21.6% 8.73%
1984 22.2% 29.7% 23.7% 10%
1983 23.2% 28.7% 27.5% 35.7%
1982 24% 29.2% 29.7% 47.7%
1981 23.8% 24.3% 33.7% 47.6%
1980 19.6% 27.2% 35.8% 35.5%
1979 - - - -
1978 - - - -
1977 - - - 9.23%
1976 - - - 6.92%
1975 - - - 8.81%
1974 - - - 6.68%
1973 - - - 12.8%
1972 - - - 12.7%
1971 - - - 14.2%
1970 - - - 14.1%
1969 - - - -
1968 - - 23.6% -
1967 - - 22.3% -
1966 - - 20.5% -
1965 - - 16.3% 14.9%
1964 - - 15.4% 15.2%
1963 - - 14.8% 12.4%
1962 - - 15.6% 13.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1995, retrieved 2026-07-08).

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

In 2025, Eswatini's government spending was $1.84B, accounting for 35.7% of its GDP, while Iran spent $48.7B, or 13.4% of GDP.

Debt-to-GDP ratio is 44.9% in Eswatini and 37.3% in Iran, ranking 118/185 and 139/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

Iran
1x
Year Deficit/surplus, % of GDP
Eswatini Iran
2025 -6.14% -5.65%
2024 -1.06% -2.68%
2023 -0.66% -3.04%
2022 -5.27% -2.64%
2021 -4.55% -3.01%
2020 -4.21% -4.87%
2019 -6.23% -4.3%
2018 -6.59% -1.59%
2017 -5.64% -1.55%
2016 -8.36% -1.7%
2015 -5.89% -1.3%
2014 -1.16% -0.91%
2013 0.57% -0.72%
2012 3.39% -0.5%
2011 -3.88% -0.66%
2010 -9.34% -0.84%
2009 -3% -3.3%
2008 1.58% -4.39%
2007 2.37% -2.41%
2006 8.67% -4.91%
2005 -1.66% -2.44%
2004 -3.97% -2.45%
2003 -2.11% -2.76%
2002 -3.69% -2.88%
2001 -2.24% 0.02%
2000 -1.19% 5.42%
1999 -1.23% -0.51%
1998 1.05% -5.03%
1997 2.06% -1.81%
1996 -0.97% -0.75%
1995 0.87% -2.63%
1994 -3.43% -3.36%
1993 -3.15% -5.15%
1992 -2.76% -0.86%
1991 3.28% -1.64%
1990 5.47% -1.73%
1989 5.82% -4.45%
1988 3.23% -10.3%
1987 2.03% -6.84%
1986 -2.41% -7.84%
1985 -1.33% -3.74%
1984 1.25% -4.02%
1983 -0.6% -6.15%
1982 0.11% -5.55%
1981 -4.29% -10.7%
1980 6.55% -14.2%
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -4.57%
1967 - -4%
1966 - -2.63%
1965 - -1.23%
1964 - -0.04%
1963 - 0.26%
1962 - -1.39%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-07-08).

GeoRank.org/economy/eswatini/iran | 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 Iran's deficit of $20.5B, or 5.65% of GDP.

Over the past 46 years, Eswatini recorded a fiscal deficit in 30 of those years, while Iran ran a deficit in 44 years. On average, Eswatini posted an annual deficit equal to 1.28% of GDP, compared to deficit of 3.33% of GDP for Iran.

Inflation comparison by year

Inflation
Eswatini

Iran
1x
Year Consumer prices inflation
Eswatini Iran
2025 - 42.2%
2024 - 32.5%
2023 - 44.6%
2022 - 43.5%
2021 - 43.4%
2020 - 30.6%
2019 2.6% 39.9%
2018 4.82% 18%
2017 6.22% 8.04%
2016 7.85% 7.25%
2015 4.95% 12.5%
2014 5.68% 16.6%
2013 5.62% 36.6%
2012 8.94% 27.3%
2011 6.11% 26.3%
2010 4.51% 10.1%
2009 7.45% 13.6%
2008 12.7% 25.4%
2007 8.08% 17.3%
2006 5.3% 10%
2005 4.77% 13.4%
2004 3.45% 14.8%
2003 7.29% 16.5%
2002 12% 14.3%
2001 5.94% 11.3%
2000 12.2% 14.5%
1999 6.09% 20.1%
1998 8.11% 17.9%
1997 7.13% 17.3%

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

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

Over the past 23 years, Eswatini has recorded an average annual inflation rate of 6.86%, compared with 17.8% in Iran. In 2019, inflation was 2.6% in Eswatini and 42.2% in Iran.

Top exports between countries

Eswatini
Export category Export value
Processed food, beverages & tobacco $22K
Iran
Export category Export value
Textiles & consumer goods $19K
Raw agricultural goods $18K
Processed food, beverages & tobacco $16K
Metals $1K

Balance of trade

Eswatini Iran
Current account balance
$78.3M
2024
$12.5B
2000
Current account balance ranking
65/190
2024
22/190
2000
Current account balance, % of GDP
+1.61%
2024
+11.4%
2000
Goods imports
$2.07B
2024
$15.2B
2000
Goods exports
$2.33B
2024
$28.3B
2000
Service imports
$542M
2024
$2.3B
2000
Service exports
$234M
2024
$1.38B
2000
Imports of goods and services, % of GDP
53.7%
2024
34.5%
2025
Exports of goods and services, % of GDP
53.8%
2024
25.8%
2025

Economic freedom indices

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

Eswatini Iran
Economic freedom 57.5 41.8
Economic freedom ranking 116/197 185/197
Property rights 42.5 20.2
Government integrity 29.7 16.2
Judicial effectiveness 35.5 18.7
Tax burden 78.6 81.3
Government spending 71 94.7
Fiscal health 87.5 83.3
Business freedom 49.9 37.4
Labor freedom 55.2 41.8
Monetary freedom 76.8 42.2
Trade freedom 73.6 55.8
Investment freedom 50 5
Financial freedom 40 5

Economic freedom comparison by year

Eswatini
Iran
1x
Year Economic freedom index
Eswatini Iran
2026 57.5 41.8
2025 56.4 42.5
2024 55.6 41.2
2023 54.9 42.2
2022 51.4 42.4
2021 55.1 47.2
2020 55.3 49.2
2019 54.7 51.1
2018 55.9 50.9
2017 61.1 50.5
2016 59.7 43.5
2015 59.9 41.8
2014 61.2 40.3
2013 57.2 43.2
2012 57.2 42.3
2011 59.1 42.1
2010 57.4 43.4
2009 59.1 44.6
2008 58.4 45
2007 60.1 45
2006 61.4 45
2005 59.4 50.5
2004 58.6 42.8
2003 59.6 43.2
2002 60.9 36.4
2001 63.6 35.9
2000 62.6 36.1
1999 62.1 36.8
1998 62 36
1997 59.4 34.5
1996 58.6 36.1
1995 63.3 -

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

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

The Economic Freedom Index for Eswatini is 57.5, ranking 116/197, compared to 41.8 for Iran, ranking 185/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eswatini Iran
Services, % of GDP
52.4%
2025
47.1%
2025
Industry, % of GDP
33.6%
2025
39.6%
2025
Agriculture, forestry, and fishing, % of GDP
6.41%
2025
10.6%
2025
GNI, Atlas method
$4.69B
2025
$429B
2025
GNI per capita, PPP
$11,390
2025
$19,660
2025
Total reserves including gold
$537M
2024
$7.69B
1982
Total reserves ranking
157/177
2024
89/177
1982
Net foreign direct investment
-$11.8M
2024
-$39M
2000
Net inflows of foreign direct investment
$75.5M
2024
$1.45B
2024
Net outflows of foreign direct investment
$63.8M
2024
$89.4M
2024
Servicing debt to the IMF, % of GNI
4.88%
2024
0.08%
2024
Poverty at national poverty lines
58.9%
2016
18.7%
2020
Gross capital formation, % of GDP
15%
2024
41.8%
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/iran | 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 (1962–1995, 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. TradeMap (2020–2024, 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.