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Economy of Eswatini vs Israel compared: GDP & Debt

Updated on by Georank

Eswatini has a GDP of $5.16B compared to $611B for Israel, ranking 163/197 and 27/197 by economy size, respectively.

Eswatini has $2.31B in government debt (44.9% of GDP), compared to $418B (68.5% of GDP) in Israel.

Eswatini vs Israel GDP by year

Eswatini
Israel
1x
Year GDP, current $
Eswatini Israel
2025 $5,160,679,613 $610,777,842,874
2024 $4,858,885,841 $542,284,494,491
2023 $4,621,191,262 $513,393,395,492
2022 $4,746,660,274 $525,157,951,213
2021 $4,807,069,277 $489,735,019,666
2020 $4,134,677,810 $410,908,899,711
2019 $4,617,018,959 $399,207,771,082
2018 $4,643,751,059 $375,470,422,244
2017 $4,462,640,651 $357,360,816,857
2016 $3,722,306,117 $321,083,954,798
2015 $3,908,217,914 $302,841,190,258
2014 $4,285,065,665 $314,376,760,832
2013 $4,463,396,204 $298,045,324,736
2012 $4,747,813,067 $263,172,104,091
2011 $4,722,912,047 $267,739,352,609
2010 $4,360,714,359 $239,372,857,534
2009 $3,525,213,502 $213,112,649,594
2008 $3,235,921,171 $220,952,472,408
2007 $3,391,122,887 $184,448,882,452
2006 $3,215,307,901 $158,706,516,002
2005 $3,097,946,371 $147,346,035,831
2004 $2,710,331,785 $139,925,423,025
2003 $2,149,632,433 $131,278,887,815
2002 $1,393,945,031 $125,215,963,105
2001 $1,502,870,486 $134,889,159,474
2000 $1,697,161,558 $136,409,902,632
1999 $1,547,888,496 $121,329,240,042
1998 $1,576,908,856 $120,468,659,246
1997 $1,716,714,070 $119,389,303,067
1996 $1,602,741,834 $115,051,957,577
1995 $1,698,989,464 $105,432,315,611
1994 $1,419,294,254 $90,684,108,118
1993 $1,357,189,552 $79,806,598,120
1992 $1,284,759,928 $79,408,652,426
1991 $1,156,135,718 $70,954,941,681
1990 $1,114,694,041 $61,978,459,022
1989 $696,921,542 $52,411,116,588
1988 $692,026,455 $52,618,458,014
1987 $584,126,092 $43,022,977,765
1986 $449,140,318 $35,812,041,620
1985 $360,079,419 $28,887,898,639
1984 $494,483,409 $30,626,695,891
1983 $555,336,146 $32,655,591,256
1982 $537,568,059 $29,237,231,967
1981 $570,774,825 $26,865,420,933
1980 $541,976,853 $25,379,585,067
1979 $412,093,134 $22,595,788,591
1978 $340,630,085 $17,690,363,444
1977 $304,060,076 $18,245,847,441
1976 $272,550,068 $15,946,502,888
1975 $288,299,789 $16,131,806,290
1974 $264,320,941 $17,162,009,924
1973 $221,915,128 $11,895,229,181
1972 $146,736,479 $9,216,866,299
1971 $136,462,081 $7,048,191,876
1970 $112,139,955 $7,402,142,195
1969 $105,419,958 $6,293,966,357
1968 $79,799,968 $5,455,059,532
1967 $74,759,970 $4,759,447,914
1966 $76,859,969 $4,700,397,692
1965 $70,279,972 $4,326,412,951
1964 $64,980,554 $4,021,861,430
1963 $54,129,438 $3,533,767,055
1962 $45,927,962 $2,964,323,618
1961 $43,026,043 $3,706,297,903
1960 $35,076,846 $3,068,690,949

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

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

GDP per capita in Eswatini vs Israel by year

Eswatini
GDP per capita

GDP per capita, PPP
Israel
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini Israel
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $4,108 - $60,337 -
2024 $3,910 $11,799 $54,217 $57,236
2023 $3,756 $11,300 $52,126 $55,171
2022 $3,894 $10,635 $54,947 $53,619
2021 $3,984 $9,990 $52,258 $46,162
2020 $3,467 $9,329 $44,591 $40,955
2019 $3,913 $9,248 $44,092 $41,325
2018 $3,973 $8,535 $42,269 $40,190
2017 $3,853 $8,584 $41,013 $39,471
2016 $3,238 $8,484 $37,571 $38,189
2015 $3,420 $8,391 $36,138 $35,871
2014 $3,771 $8,366 $38,265 $34,816
2013 $3,950 $8,231 $36,981 $34,827
2012 $4,225 $7,760 $33,269 $32,484
2011 $4,225 $7,571 $34,477 $31,314
2010 $3,923 $7,324 $31,399 $29,456
2009 $3,190 $7,011 $28,470 $28,087
2008 $2,947 $6,914 $30,231 $28,084
2007 $3,109 $6,732 $25,689 $28,307
2006 $2,965 $6,319 $22,500 $26,385
2005 $2,871 $5,773 $21,262 $25,701
2004 $2,526 $5,310 $20,550 $26,078
2003 $2,015 $5,020 $19,624 $24,702
2002 $1,316 $4,742 $19,059 $26,101
2001 $1,430 $4,521 $20,949 $25,806
2000 $1,630 $4,401 $21,690 $25,766
1999 $1,502 $4,272 $19,809 $23,415
1998 $1,547 $4,137 $20,176 $22,927
1997 $1,705 $4,038 $20,457 $22,279
1996 $1,619 $3,916 $20,213 $21,672
1995 $1,751 $3,777 $19,014 $20,642
1994 $1,461 $3,526 $16,796 $19,478
1993 $1,397 $3,371 $15,169 $18,218
1992 $1,362 $3,289 $15,500 $17,553
1991 $1,273 $3,236 $14,337 $16,486
1990 $1,278 $3,202 $13,300 $15,721
1989 $832 - $11,601 -
1988 $865 - $11,846 -
1987 $765 - $9,847 -
1986 $611 - $8,330 -
1985 $510 - $6,824 -
1984 $726 - $7,364 -
1983 $843 - $7,955 -
1982 $843 - $7,253 -
1981 $925 - $6,791 -
1980 $908 - $6,545 -
1979 $714 - $5,968 -
1978 $610 - $4,794 -
1977 $563 - $5,050 -
1976 $521 - $4,514 -
1975 $568 - $4,669 -
1974 $536 - $5,082 -
1973 $463 - $3,629 -
1972 $315 - $2,928 -
1971 $301 - $2,297 -
1970 $254.2 - $2,489 -
1969 $245.2 - $2,188 -
1968 $190.4 - $1,946 -
1967 $182.8 - $1,734 -
1966 $192.7 - $1,788 -
1965 $181 - $1,688 -
1964 $171.6 - $1,625 -
1963 $146.4 - $1,485 -
1962 $127.1 - $1,293 -
1961 $121.8 - $1,696 -
1960 $101.6 - $1,452 -

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

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

Eswatini's GDP per capita is $4,108, ranking 131/197, compared to $60,337 in Israel, ranking 19/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while Israel ranks 36th at $57,236.

Economic indicators

Eswatini Israel
Gross domestic product
$5.16B
2025
$611B
2025
GDP rank
163/197
2025
27/197
2025
GDP growth
4.19%
2024-2025
2.93%
2024-2025
GDP per capita
$4,108
2025
$60,337
2025
GDP per capita rank
131/197
2025
19/197
2025
GDP per capita, PPP
$11,799
2024
$57,236
2024
GDP per capita PPP rank
126/197
2024
36/197
2024
Government debt
$2.31B
2025
$418B
2025
Debt-to-GDP ratio
44.9%
2025
68.5%
2025
Government debt per person
$1,843
2025
$41,338
2025
Government debt per person rank
121/185
2025
16/185
2025
Average annual personal income after taxes
$4,770
2026
$48,251
2026
Market capitalization of domestic companies
$234M
2007
$331B
2024
Number of millionaires n/a
195,000
2026
Number of billionaires
1
2026
42
2026
Income share by richest 10%
42.7%
2016
27%
2022
Income share by poorest 10%
1.4%
2016
1.8%
2022
Government expenditure, % of GDP
35.7%
2025
43.6%
2025
Consumer prices inflation
2.6%
2018-2019
3.04%
2024-2025
Central bank interest rate
6.75%
2025
3.75%
2026
Unemployment rate
34.3%
2023
3%
2025
Population
1276995
10334048

Spending and national debt comparison by year

Eswatini
Spending

Debt
Israel
Spending

Debt
1x
Year % of GDP
Eswatini Israel
Government spending Government debt Government spending Government debt
2025 35.7% 44.9% 43.6% 68.5%
2024 33.6% 40.1% 43.7% 67.7%
2023 31.5% 39.4% 39.6% 61.3%
2022 28.9% 39.5% 36.9% 60.3%
2021 29.3% 37.3% 40.1% 67.7%
2020 32.2% 37.7% 44.8% 71.1%
2019 32.8% 30.5% 38.7% 59.3%
2018 31.6% 26.5% 39.2% 60.1%
2017 33.6% 21.7% 38.4% 59.8%
2016 34% 20.1% 37.9% 61.7%
2015 34.5% 16% 37.6% 62.8%
2014 32.7% 14.1% 38.3% 65.8%
2013 28.8% 15.2% 39.7% 66%
2012 27.1% 14.8% 39.6% 66.9%
2011 25.1% 14.6% 39.3% 67.2%
2010 31.1% 14.2% 39.7% 69%
2009 33.9% 10.6% 41.4% 72.6%
2008 33.4% 14.6% 41.2% 70.2%
2007 30.4% 16.1% 40.2% 70.8%
2006 27.6% 14.7% 41.6% 77.7%
2005 29% 13.6% 42.3% 85.2%
2004 31% 15% 43% 88.3%
2003 25.9% 17.7% 45.4% 89.7%
2002 26.5% 17.2% 50% 87.2%
2001 25.6% 21.7% 46.1% 81.1%
2000 24.7% 18.2% 43.4% 77.2%
1999 25.8% 16.7% 53.6% 94.8%
1998 22% 15.6% 55% 101%
1997 20.7% 12.7% 52.6% 99.3%
1996 22.5% 11.5% 53.2% 100.3%
1995 19.9% 12.5% 52.8% 102.3%
1994 23.4% 13.1% 41.7% 110.2%
1993 23% 15% 42.2% 118.3%
1992 24.7% 16.6% 44.1% 119.6%
1991 19.6% 20.1% 34.4% 123.7%
1990 18.2% 20.4% 46.8% 138.3%
1989 15.8% 26.8% 47.5% 147.4%
1988 15.6% 27.5% 46.5% 145.4%
1987 17% 36.1% 52.8% 143.2%
1986 19.8% 44% 55.7% 162.5%
1985 22.3% 45.5% 65.2% 199%
1984 22.2% 29.7% - 284%
1983 23.2% 28.7% - 260.5%
1982 24% 29.2% 69.7% -
1981 23.8% 24.3% 71.8% -
1980 19.6% 27.2% 69.4% 154.3%
1979 - - 70.1% 155.5%
1978 - - 62.2% 133.6%
1977 - - 69.1% 142%
1976 - - 66.3% 97.4%
1975 - - 62% 85.1%
1974 - - - 79.8%
1973 - - - 62.1%
1972 - - - 63.9%
1971 - - - -
1970 - - 41.6% -
1969 - - 41.1% -
1968 - - 39.4% -
1967 - - 33.9% -
1966 - - 29.6% -
1965 - - 27.8% -
1964 - - 28.2% -
1963 - - 26.9% -
1962 - - 27.7% -
1961 - - 30.3% -
1960 - - 30.4% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-07-08).

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

In 2025, Eswatini's government spending was $1.84B, accounting for 35.7% of its GDP, while Israel spent $266B, or 43.6% of GDP.

Debt-to-GDP ratio is 44.9% in Eswatini and 68.5% in Israel, ranking 118/185 and 60/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

Israel
1x
Year Deficit/surplus, % of GDP
Eswatini Israel
2025 -6.14% -5.22%
2024 -1.06% -8.07%
2023 -0.66% -5.38%
2022 -5.27% 0.3%
2021 -4.55% -3.37%
2020 -4.21% -10.6%
2019 -6.23% -3.79%
2018 -6.59% -3.58%
2017 -5.64% -1.17%
2016 -8.36% -1.78%
2015 -5.89% -1.2%
2014 -1.16% -2.28%
2013 0.57% -4.07%
2012 3.39% -4.46%
2011 -3.88% -3.43%
2010 -9.34% -3.72%
2009 -3% -6.53%
2008 1.58% -3.49%
2007 2.37% -0.43%
2006 8.67% -0.94%
2005 -1.66% -2.74%
2004 -3.97% -3.4%
2003 -2.11% -5.03%
2002 -3.69% -8.21%
2001 -2.24% -4.06%
2000 -1.19% -0.8%
1999 -1.23% -6.26%
1998 1.05% -7.99%
1997 2.06% -4.84%
1996 -0.97% -5.97%
1995 0.87% -4.28%
1994 -3.43% -5.62%
1993 -3.15% -5.62%
1992 -2.76% -8%
1991 3.28% -7.04%
1990 5.47% -9.67%
1989 5.82% -9.03%
1988 3.23% -7.57%
1987 2.03% -7.47%
1986 -2.41% -7.51%
1985 -1.33% -14.2%
1984 1.25% -
1983 -0.6% -
1982 0.11% -13.8%
1981 -4.29% -23.5%
1980 6.55% -19.6%
1979 - -16.7%
1978 - -14.7%
1977 - -20.3%
1976 - -19.4%
1975 - -19.6%
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -16%
1969 - -15.3%
1968 - -11.7%
1967 - -7.68%
1966 - -4.35%
1965 - -2.72%
1964 - -3.65%
1963 - -4.41%
1962 - -4.09%
1961 - -5.86%
1960 - -6.62%
1959 - -7.23%
1958 - -8.31%
1957 - -7.17%
1956 - -9.3%
1955 - -4.3%
1954 - -7.84%
1953 - -8.32%
1952 - -7.19%
1951 - -8.13%
1950 - -10.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1950–1999, retrieved 2026-07-08).

GeoRank.org/economy/eswatini/israel | 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 Israel's deficit of $31.9B, or 5.22% of GDP.

Over the past 46 years, Eswatini recorded a fiscal deficit in 30 of those years, while Israel ran a deficit in 43 years. On average, Eswatini posted an annual deficit equal to 1.28% of GDP, compared to deficit of 6.03% of GDP for Israel.

Inflation comparison by year

Inflation
Eswatini

Israel
1x
Year Consumer prices inflation
Eswatini Israel
2025 - 3.04%
2024 - 3.07%
2023 - 4.23%
2022 - 4.41%
2021 - 1.48%
2020 - -0.58%
2019 2.6% 0.82%
2018 4.82% 0.81%
2017 6.22% 0.25%
2016 7.85% -0.54%
2015 4.95% -0.62%
2014 5.68% 0.47%
2013 5.62% 1.59%
2012 8.94% 1.68%
2011 6.11% 3.49%
2010 4.51% 2.7%
2009 7.45% 3.37%
2008 12.7% 4.53%
2007 8.08% 0.47%
2006 5.3% 2.05%
2005 4.77% 1.34%
2004 3.45% -0.42%
2003 7.29% 0.71%
2002 12% 5.8%
2001 5.94% 1.12%
2000 12.2% 1.03%
1999 6.09% 5.19%
1998 8.11% 5.49%
1997 7.13% 8.95%

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

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

Over the past 23 years, Eswatini has recorded an average annual inflation rate of 6.86%, compared with 2.19% in Israel. In 2019, inflation was 2.6% in Eswatini and 3.04% in Israel.

Top exports between countries

Eswatini
Export category Export value
Processed food, beverages & tobacco $156K
Raw materials & minerals $57K
Machinery & equipment $17K
Chemicals & pharma $2K
Miscellaneous $1K
Israel
Export category Export value
Raw materials & minerals $2.25M
Raw agricultural goods $82K
Textiles & consumer goods $80K
Machinery & equipment $68K
Chemicals & pharma $60K
Precious metals & jewellery $23K
Processed food, beverages & tobacco $18K
Metals $5K
Miscellaneous $3K
Wood & paper products $2K

Balance of trade

Eswatini Israel
Current account balance
$78.3M
2024
$8.53B
2025
Current account balance ranking
65/190
2024
26/190
2025
Current account balance, % of GDP
+1.61%
2024
+1.4%
2025
Goods imports
$2.07B
2024
$102B
2025
Goods exports
$2.33B
2024
$76.2B
2025
Service imports
$542M
2024
$53.2B
2025
Service exports
$234M
2024
$92.4B
2025
Imports of goods and services, % of GDP
53.7%
2024
25.4%
2025
Exports of goods and services, % of GDP
53.8%
2024
27.6%
2025

Economic freedom indices

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

Eswatini Israel
Economic freedom 57.5 68.4
Economic freedom ranking 116/197 47/197
Property rights 42.5 73.1
Government integrity 29.7 66.2
Judicial effectiveness 35.5 68.1
Tax burden 78.6 60.2
Government spending 71 52
Fiscal health 87.5 60.8
Business freedom 49.9 72.4
Labor freedom 55.2 56.8
Monetary freedom 76.8 78.2
Trade freedom 73.6 82.8
Investment freedom 50 70
Financial freedom 40 80

Economic freedom comparison by year

Eswatini
Israel
1x
Year Economic freedom index
Eswatini Israel
2026 57.5 68.4
2025 56.4 69.9
2024 55.6 70.1
2023 54.9 68.9
2022 51.4 68
2021 55.1 73.8
2020 55.3 74
2019 54.7 72.8
2018 55.9 72.2
2017 61.1 69.7
2016 59.7 70.7
2015 59.9 70.5
2014 61.2 68.4
2013 57.2 66.9
2012 57.2 67.8
2011 59.1 68.5
2010 57.4 67.7
2009 59.1 67.6
2008 58.4 66.3
2007 60.1 64.8
2006 61.4 64.4
2005 59.4 62.6
2004 58.6 61.4
2003 59.6 62.7
2002 60.9 66.9
2001 63.6 66.1
2000 62.6 65.5
1999 62.1 68.3
1998 62 68
1997 59.4 62.7
1996 58.6 62
1995 63.3 61.5

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

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

The Economic Freedom Index for Eswatini is 57.5, ranking 116/197, compared to 68.4 for Israel, ranking 47/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eswatini Israel
Services, % of GDP
52.4%
2025
72.8%
2024
Industry, % of GDP
33.6%
2025
17.2%
2024
Agriculture, forestry, and fishing, % of GDP
6.41%
2025
1.29%
2024
GNI, Atlas method
$4.69B
2025
$569B
2025
GNI per capita, PPP
$11,390
2025
$58,870
2025
Total reserves including gold
$537M
2024
$229B
2025
Total reserves ranking
157/177
2024
18/177
2025
Net foreign direct investment
-$11.8M
2024
-$11.8B
2025
Net inflows of foreign direct investment
$75.5M
2024
$14.8B
2024
Net outflows of foreign direct investment
$63.8M
2024
$9.92B
2024
Servicing debt to the IMF, % of GNI
4.88%
2024
n/a
Poverty at national poverty lines
58.9%
2016
22%
2020
Gross capital formation, % of GDP
15%
2024
24.3%
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/israel | 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 (1950–1999, 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 (2022–2025, 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.